Nothing says happy mother’s day like a bouquet of beautiful flowers. However it may sometimes be difficult to find the perfect arrangement of flowers that will fit mom’s style and your budget.  Shopping around can be fun, but only when the shopping is of something you know about.  Decisions on estate planning on the other hand, are not as simple as choosing a color and a style. The planning process takes time and varies depending on the particular circumstances of each individual. An estate plan is a living entity; as factors in your life change, your plan should be altered accordingly. With the assistance of the right attorney you can choose from a variety of estate-planning techniques in Florida to create an estate plan that fits your needs and wishes such as:

• Living Trust & Assignment of Property – a living trust allows you to distribute your assets while ultimately avoiding probate (the legal process of determining whether a will is valid). Re-examine your income stream and how you will want your assets distributed after your death. This is a good time to look at your entire estate and determine if you will need additional tax planning.
• Last Will & Testament – this is your traditional will that is used upon death to distribute property to beneficiaries, specify last wishes, and name guardians for minor children. You may want to change who you have designated as a guardian, or burial requests.
• Durable Power of Attorney – this allows you to designate and authorize someone to legally act on your behalf, in the event that you become incapacitated. As time goes on, you may want to change who will have the power to make financial decisions on your behalf. Furthermore, you want to ensure that your power of attorney document provides “super powers” to allow the agent to make decisions regarding retirement accounts, public benefits, gift exemptions, disclaiming property, and similar provisions that have financial consequences to your estate.
• Combination Living Will & Designation of Healthcare Surrogate – this outlines important healthcare decisions in advance, and appoints a healthcare surrogate to make healthcare decisions for you when you become unable to do so yourself. You may decide that you will not want any life prolonging procedures in the event that you have one of the following conditions: (i) terminal condition (ii) end-state condition; or (iii) persistent vegetative state. In this case, you want to ensure that you have such wishes outlined in your living will.

It’s a Wild world. Are you protected?SM

For more information on successful Florida estate planning and asset protection techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 to schedule your free consultation.

The lucky Power Ball winner claimed his prize on April Fool’s day however his price of $425 Million was no joke. Apparently the idea of being a millionaire has not affected his judgment, he kept his big win a secret until he had his financial and legal plan in place. Now that he has come forward to claim his prize it is important for him that his identity remains a secret from the public.

But why should we all wait for a strike of luck to plan ahead? There are plans you can set in place to ensure that you maintain control in the event of life’s unexpected surprises. An estate plan can give you piece of mind even if you can’t predict when your lucky stars will align in your favor. Whether your priorities are privacy or protection of your loved ones, with the right attorney you can ensure that your plans live on.

By utilizing estate-planning techniques, you can protect yourself and your family from unnecessary hassles, while safeguarding your current  assets and any other asset your lucky stars  brings your way.

It’s a Wild world. Are you protected?SM

For more information on successful Florida estate planning and asset protection techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 to schedule your free consultation.

Nearly three weeks ago, Malaysia Airlines Flight 370 vanished. Australian authorities said Friday that they have shifted the search area to a different patch of ocean. Today, the saga continues in trying to find an answer and more importantly, the plane itself.

It is events such as these where we are reminded how unexpected life can be, recognizing that you can never be too prepared for tomorrow. This occurrence leaves us with an abundance of uncertainty and makes clear that you have no control over your fate. However, with the right attorney you can ensure that your plans live on. There is a variety of estate-planning techniques in Florida that can be used to protect yourself and your family from a burdensome situation in uncertain times.

Living Trust – a living trust has become the best way to maintain control over all of your assets and distributions, while avoiding the hassle, expense, and lack of privacy associated with probate.

Durable Power of Attorney – this allows you to designate and authorize someone to legally act on your behalf, in the event that you become incapacitated.

Combination Living Will & Designation of Healthcare Surrogate– this outlines important healthcare decisions in advance, and appoints a healthcare surrogate to make healthcare decisions for you when you become unable to do so yourself. You may decide that you will not want any life prolonging procedures in the event that you have one of the following conditions: (i) terminal condition (ii) end-state condition; or (iii) persistent vegetative state. In this case, you want to ensure that you have such wishes outlined in your living will.

It’s a Wild world. Are you protected?SM

For more information on successful Florida estate planning and asset protection techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 to schedule your free consultation.

February is the month of heart shaped chocolates and cards that express how your heart belongs/beats/flutters/etc. for your Valentine. Thus, it’s not necessarily an ideal time to be confronted with the grave reminder of how fleeting life can be, and the importance of planning for the unknown. However, for many, such planning is for the benefit of family and loved ones. Although we have little control over our fate, you can ensure that your loved ones are protected in the event of your own sickness or death. The following estate planning documents can be customized to ensure that your loved one’s are protected, not only in health, but also in sickness and death.

• Last Will & Testament – used to distribute property to beneficiaries (or a trust), specify last wishes, and name guardians for minor children. You can use a pour over will that funnels all of your property into the trust, to ensure greater asset protection for your loved ones.
• Living Trust – gain control, asset protection, & preclusion of unnecessary taxes; designate a trustworthy (no pun) Trustee. You can further provide that your assets continue in trust for the benefit of your loved ones, providing them greater protection from the claims of others.
• Durable Power of Attorney – gain control by designating someone to legally act on your behalf. There are many types of POA’s (“power of attorney”), but a “Durable” power of attorney means the power will be in effect even when you become incapacitated. Therefore, ensuring that any important business related decisions can be made in the event that you cannot make them yourself.
• Living Will & Designation of Healthcare Surrogate – make important healthcare decisions for yourself in advance. Determine who can access your health records and make medical decisions on your behalf.

 Ensure that you’re heart beats for your loved ones – even when it doesn’t! For more information on successful Florida estate planning and asset protection techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 to schedule your free consultation.

It’s a Wild world. Are you protected?SM

The White House has announced that Obamacare will cover breast cancer prevention drugs for women who have an increased risk of breast cancer due to age, family history or other factors. Such “chemoprevention” drugs will be covered without a co-pay or other out of pocket expense to the patient. This change has resulted from a recommendation from the U.S. Preventative Task Force, composed of independent volunteer physicians and academics, for the exact purpose of recommending which preventive services to offer patient. These preventive methods are much like estate planning, as risks are evaluated to determine what plan is necessary to mitigate or prevent an undesirable result. If you are at “risk” for sickness, incapacitation, or death, you will benefit from the following documents:

1. Living Trust – the best way to maintain control over all of your assets and distributions, while avoiding the hassle, expense, and lack of privacy associated with probate.

2. Assignment of Property – this is exactly that, assigning your property to your trust. In other words, placing your property into the trust. This includes both real & personal property. A trust does not do anything for you if there is no property in it.

3. Last Will & Testament – this is your traditional will that is used upon death to distribute property to beneficiaries, specify last wishes, and name guardians for minor children.

4. Durable Power of Attorney – this allows you to designate and authorize someone to legally act on your behalf, in the event that you become incapacitated.

5. Combination Living Will & Designation of Healthcare Surrogate – this outlines important healthcare decisions in advance, and appoints a healthcare surrogate to make healthcare decisions for you when you become unable to do so yourself.

While you often cannot prevent incapacitation or death, you can always be prepared for it! For more information on successful Florida estate planning and asset protection techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 to schedule your free consultation.

It’s a Wild world. Are you protected?S

On any given day, there are over 150,000 Floridians receiving home care services. Such care ranges from homemaker/companions to registered nurses, providing services of everything from meal preparation to medical treatment. When structuring an arrangement for long term care, the individual’s environment plays a critical role in their quality of life, as studies have shown that patients recover faster in the comfort of their own homes.

There are a variety of factors that should be considered in order to structure a cost effective arrangement for home care, while both enhancing the older adult’s quality of life and preparing for future medicaid eligibility. Often, when an older adult is in a condition of health that does not require medical nursing care, a family member or friend will assist with personal care. This can become quite burdensome for the relative or friend, who must balance daily obligations with the responsibilities of caregiving. As a result, many have turned to personal care agreements (a.k.a. personal services contacts), allowing the older adult to contract with a relative/friend for services rendered. The caretaker is compensated, the older adult receives necessary assistance, and the payment is considered a transfer of value (not a gift); thus reducing the older adult’s countable assets, and enhancing Medicaid eligibility.

A personal care agreement should specifically address the duties of both parties, and structured in a manner that ensures legal enforceability. The agreement should be in writing, signed before the services are rendered, and the compensation must be reasonable (in comparison to what other third party caregivers are charging for the same services).

A personal care agreement is an excellent tool for older adults who wish to use a family member or friend as a caregiver, while accelerating their Medicaid eligibility. For these arrangements to work effectively, it is very important that the contracts are drafted properly. For this reason, older adults that are looking into a personal care agreement should consult an attorney who is familiar with elder law issues to first determine whether the agreement is appropriate under the circumstances, and to further ensure that it is structured to enhance all potential advantages.

For more information on successful Florida estate planning and asset protection techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 to schedule your free consultation.

It’s a Wild world. Are you protected?SM