So, the NY Giants defeated the Patriots last night in Super Bowl XLVI becoming champions of the NFL. Eli Manning and the Giants pulled off a last-minute touchdown drive to beat the Patriots 21-17 for their second Super Bowl Victory. The jokes are over. The questions are answered. Eli and his Giants are kings once again.

Football aside, one of the most important life questions might still remain unanswered. When are you going to get your estate plan in place? The natural inclination is to respond, “Oh, I’m never going to die” or “I’m too young to worry about that” or “I’m not a millionaire yet. I will worry about preserving my assets when I become rich.”

The death rate in Florida is 100%.  Shocking, I know. We might feel invincible and immortal at times but the sad truth is, we were born to die. And the best part is we really will never know when. It’s a surprise. When it comes to South Florida estate planning, wealth is not the primary factor to consider when deciding whether to structure a trust-based estate.

Estate planning and asset protection is really all about protecting your loved ones. Do you really want to subject your children, spouse, or family members to unnecessary and avoidable estate taxes? Do you want to let your family drown in a sea of probate perils?

If your answer is NO then call your South Florida Estate Planning attorney today. Don’t pull a Manning and try to score a trust at the last-minute.  Considerable care and planning is necessary for your attorney to be able to tailor the optimal plan to meet your objectives and ensure that your loved ones are protected once you are gone.  Nothing screams touchdown better than a secure and solid estate plan!

For more information on successful Florida estate planning and probate techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 or via email at info@wfplaw.com to schedule your free consultation.

It’s a Wild world.  Are you protected?

This Sunday most of America will be glued to television sets while watching the Patriots and Giants battle it out on the football field. Everyone will be rooting for their favorite team while wolfing down Buffalo wings and downing endless cans of beer. During commercial airtime, you might be thinking how great it is that your family and friends are all together watching the biggest game of the year. So many memories are being filled right in your family living room. You then decide you are going to leave your house to your kids so that these memories will last forever. What a great idea!

However, without careful thought, you might be doing disservice to your children in the future.  If your residence is worth less than $5 million, most likely you will not have to pay any gift taxes. This is great. However, if your children decide to sell the house immediately, they will be hit with heavy capital gains tax. This is because your cost basis (whatever it cost you to purchase the house) is transferred over to the recipient. So if the fair market value of your house has substantially increased, Uncle Sam will dip into that higher gain.

However, the only way for your children to avoid such high taxes is for them to live in the house for at least 2 years before they sell it. This situation affords them the opportunity to exclude up to $250,000 from capital gain taxes.

What if you decide your children will instead inherit the real estate? In this case, the cost basis will become the current market value, which could translate into a lower gain and thus, lower taxes. However, there are estate tax consequences that will come back to haunt you.  So what do you do?

Take action and consult a highly qualified South Florida attorney to learn about all the available options that can save your children from harsh taxes.

Back in 2008, the Patriot’s offensive line failed to protect their quarterback Tom Brady from the NY Giant’s hard-charging defensive linemen. Don’t fail to protect your kids from Uncle Sam’s appetite for more taxes. Put down that plate of nachos and schedule an appointment today!

For more information on successful Florida estate planning and probate techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 or via email at info@wfplaw.com to schedule your free consultation.

It’s a Wild world.  Are you protected?

David Milch, celebrated the premiere of his new television series called ‘Luck’ which aired on January 29, 2012. The screenwriter and producer was first introduced to the sport of horse racing and the art of gambling when he was just a young boy of 6 years in Saratoga Springs, New York. But his father didn’t let his tender age stop all the fun. A deal was struck with a local waiter at the horse track to run Milch’s bets. This led to an unexpected gambling addiction and later to a show about horse races and wagers.

Many us of us don’t realize that every day we are gambling with our lives, and worse yet, our families’ lives. We hardly stop to think about our ticking life clocks, let alone even attempt to face the reality that one day we will all die. After all, the death rate in Florida is 100%. It is unlikely this statistic will budge any time soon. Therefore, it is vital that we all start thinking about our estate plans for the sake of our loved ones before it is too late. It’s a scary thought that only less than half of all Florida residents have one in place. Don’t fall victim to the misconception that you are too young or not wealthy enough to worry about it. You need to worry about it. South Florida estate planning is rarely about the money. It’s about the protection of your loved ones.

Don’t place a dangerous wager on your life or the lives of your loved ones. Not scheduling a free consultation with a highly qualified and experienced South Florida Attorney is like betting a Pick 6. Your chances of winning are impossible. When it comes to life, the key is in the planning process. After all, when was the last time lady luck was by your side?

For more information on successful Florida estate planning and probate techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 or via email at info@wfplaw.com to schedule your free consultation.

It’s a Wild world.  Are you protected?

This week is welcomed by the holiday known as Celebration of Life Day.  Every January, it is a day to take the time to honor children and grandchildren in America. Each life is held to be a precious gift. However, sometimes we are too busy existing in life that we forget to actually live it, let alone stop to appreciate the people we love most. Hardly do we ever contemplate life after death and rarely do we stop to consider what will happen to our children after we pass away.  There can be no better way to show love and honor to our progeny than to protect them from future legal distress and financial insecurity after we are gone. Ensuring a brighter future for our children and grandchildren starts with estate planning and asset protection. The attorneys at Wild Felice & Partners are well-equipped with the necessary tools, legal knowledge, and expertise of South Florida estate planning strategies and asset structuring to ensure the financial stability of society’s most vulnerable individuals in order to guarantee the quality of life they deserve. Whether it’s a drafting a will or forming a trust, there are countless benefits to strategic estate planning. You can protect your children and grandchildren from potential lawsuits and creditor claims to your family life savings. You can protect your children against inadequate insurance coverage. You can eliminate the need for probate and reduce the burden of estate taxes. It is difficult to think of a better way to celebrate the life of your offspring and acknowledge them as precious gifts of life than to ensure their financial protection and shield them from unnecessary legal hassles after we are gone. In return, our children will be honoring us …on Remembrance of Death Day.

For more information on successful Florida estate planning and probate techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 or via email at info@wfplaw.com to schedule your free consultation.

It’s a Wild world.  Are you protected?

I am trying to come up with a topic related to South Florida estate planning and asset protection as I watch this South Carolina Republican debate and the candidates are currently stuck on the topic of the right to life and debating which of them are pro life.  If anyone took a look at what’s going on with the estate tax and how difficult and costly the South Florida probate process is, theyd surely be pro life.  With a 55 percent estate tax, there’s no way a person would be pro death.

I hope that was what they were talking about.

For more information on successful Florida estate planning and probate techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 or via email at info@wfplaw.com to schedule your free consultation.

It’s a Wild world.  Are you protected?

The South Florida estate planning and wealth protection firm of Wild Felice & Partners, PA is proud to announce that managing partner Michael D. Wild has recently received an “AV® Preeminent Rating” by Martindale Hubbell.

An AV® certification rating is the highest rating provided by Martindale-Hubbell – a testament to the fact that a lawyer’s peers rank him/her at the highest level of ethical standards and legal ability, based on legal knowledge, analytical capabilities, jud…gment, communication ability, and legal experience.

We thank everyone who rated Michael with such a high distinction and we especially thank all of our clients and referral sources for the continued trust they place in Michael and in our firm for something as important as estate planning and asset protection.

AV Preeminent (4.5-5.0)– AV Preeminent is a significant rating accomplishment – a testament to the fact that a lawyer’s peers rank him or her at the highest level of professional excellence.

For more information on successful Florida estate planning and probate techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 or via email at info@wfplaw.com to schedule your free consultation.

It’s a Wild world.  Are you protected?