Matzah ball soup, a.k.a. the Jewish penicillin, is believed to be the “cure-all” to whatever ails you. But remember, you don’t need to be sick to enjoy a good matzah ball soup. That very same idea also applies to estate planning.

Many Floridians believe “I have plenty of time, and I will deal with my estate when the time comes.” And even more common, “Only old people need estate plans.” If you don’t wait until you’re sick to enjoy a good matzah ball soup, why wait for tragedy to approach or strike to plan for the future? Unfortunately, by then, it may be too late. An estate plan is not just about death. Whether you are still at the early part of your earning potential, have young children to worry about, or concerned with reducing the possible estate tax or probate mess, accomplishing these goals as quickly as possible is crucial. Like a good matzah ball soup, yourself and your loved ones deserve to enjoy the comfort of an estate plan during both the good times and the more challenging times.

Estate planning is an especially dynamic legal field. A “living trust” is the trust category most commonly employed for estate planning purposes. The two main living trust subcategories are “revocable” and “irrevocable.” As the respective terms imply, the Grantor may revoke the former type of trust at any point during his or her lifetime. Different trusts feature different legal requirements, and are designed to serve various purposes. Moreover, individual circumstances change over time that may dramatically affect your ideal estate planning strategy. A qualified lawyer should prepare all living trusts. Indeed, the Florida Supreme Court has decreed that the preparation of living trusts by any party other than a licensed Florida attorney constitutes the unauthorized practice of law. Consult a competent, qualified estate planning attorney in Florida today. Do not delay taking affirmative steps to secure the best future for yourself and your loved ones another moment.

Our law firm provides the knowledge and experience of a large law firm, while giving our clients the hands-on service and attention to detail that only a smaller firm can truly offer. Our lawyers regularly go beyond the customary services, tailoring their work to the specific needs of each client.

Our attorneys are well versed in a wide variety of legal practice areas which allows us to provide our clients with one-stop shopping for all of their legal needs. Rather than having to seek various individual counsels and having the headache of managing your own legal issues and costs, we provide the convenience of one South Florida location for all of your legal needs. You will receive the quality work product of a large law firm and the low cost and high attention to detail that small law firms are valued for.

At Wild Felice & Partners, we take customer service very seriously. It is our constant goal to exceed expectations and respond proactively to any legal issues that our clients may encounter. We pride ourselves on working together with our clients to set and achieve the desired outcome rather than merely categorizing our clients under a particular label and treating them each legal issue in a predisposed way.

We realize that each client’s needs are unique and treat each of our clients as if they are our only client. We hope you will take the time to contact one of our attorneys and truly experience all of the benefits that our South Florida law firm has to offer.

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. Estate planning is about those friends and family left behind, which is why we first ask our clients what their wealth transfer and asset protection goals are and then explain how we can accomplish those goals together. It’s a Wild world. Are you protected? SM

With every New Year comes change. With Y2K13 comes substantial changes in the United States Tax laws—as part of the so called “Fiscal Cliff”.  One of the areas of change in 2013 is the gift and estate tax law, especially the exemptions available to individuals and married couples from gift and estate taxes.

The House of Representatives—by a vote of 257-167, and the Senate—by a vote of 89-9 approved the Senate’s plan in attempt to avoid the fiscal cliff. President Barak Obama is expected to sign the bill into law. In the plan, the estate tax will rise to 40% with a $5 million exemption which will now be indexed to inflation. So far, the issue of gift tax has not been addressed. Unfortunately, the package sets up a mini fiscal cliff in two months (March 1, 2013), furthering confrontation over spending cuts, the debt ceiling, and the longer-term budget outlook.

While our South Florida estate planning attorneys have the expertise in tax planning, as well as the designations of LL.M. and CPA that provide for the highest level of professional service, our firm aims to shed the tax attorney paradigm that estate planners are often pigeon-holed with and focus instead on the dynamic relationships between our clients and their loved ones. Estate planning is about those friends and family left behind, which is why we first ask our clients what their wealth transfer and asset protection goals are and then explain how we can accomplish those goals together.

Whether our clients are still at the early part of their earning potential, have young children to worry about or are concerned with reducing the possible estate tax or probate mess left for their loved ones when they die, accomplishing these goals as quickly as possible is crucial. Our mortality is not in question; the only question is whether or not you choose to protect your loved ones and your wealth while you are still alive and able to do so.

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 to schedule your free consultation. It’s a Wild world. Are you protected?SM

The answer is simple, everyone. (And yes, that includes you…)

Whether you are a parent, a property owner, or a professional, you need to protect your family and assets. No estate is too small for planning. Estate planning is a process involving the counsel of professional advisors who are familiar with your goals and concerns, your assets and how they are owned, and your family structure. It can involve the services of a variety of professionals, including your lawyer, accountant, financial planner, life insurance advisor, banker and broker.

Organizing your assets can help avoid family fights and reduce the stress of probate. If you fail to plan ahead, the court will appoint someone to handle your assets and personal care. Your assets will be distributed to your heirs according to a set of rules known as intestate succession. Contrary to popular belief, everything does not automatically go to the state if you die without a will. Your relatives, no matter how distant, will have priority in inheritance ahead of the state. Still, they may not be your choice of heirs. An estate plan gives you much greater control over who will inherit your assets after your death.

Less than half of all Florida residents have an estate plan in place yet the death rate in Florida has held steady at 100 percent. The reason for this lapse in judgment is most likely due to a focus on the word “estate” rather than the word “planning.” The two biggest misconceptions made by most South Floridians that lack comprehensive estate planning is that they are either too young to worry about it or not wealthy enough to worry about. However, the fact remains that very rarely is estate planning solely about the money.

While our South Florida estate planning attorneys have the expertise in tax planning, as well as the designations of LL.M. and CPA that provide for the highest level of professional service, our firm aims to shed the tax attorney paradigm that estate planners are often pigeon-holed with and focus instead on the dynamic relationships between our clients and their loved ones. Estate planning is about those friends and family left behind, which is why we first ask our clients what their wealth transfer and asset protection goals are and then explain how we can accomplish those goals together.

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 to schedule your free consultation. It’s a Wild world. Are you protected?SM

“I pledge allegiance to the flag of the United States of America, and to the republic for which it stands, one nation under G-d, indivisible, with liberty and justice for all.”

Thank you to all who have served, and are serving! You gave, and continue to give, every day to ensure our freedom—and to you, we are forever grateful!

On June 6, 2012, Senator Ron Wyden of Oregon introduced legislation that will restrict eligibility for veteran’s benefits used to assist in funding for home health care, assisted living and nursing home expenses. The proposed bill would require that the Secretary of Veterans Affairs look back 36-months for any uncompensated transfers that a veteran, their spouse or child may have made. Today, there is no look-back period. A veteran, their spouse or child with excess assets can qualify for veteran’s benefits by making transfers to a properly drafted irrevocable gift trust.

If the proposed legislation were to pass, the bill would take effect one year after enactment, and apply to pensions applied for or redeterminations after that date. The bill will disqualify a veteran, their spouse or child who has made transfers to a properly drafted irrevocable gift trust, within the 36-month look-back period, from receiving benefits for a period of time depending on the amount that was transferred.

The percentage is astounding. Less than half of all Florida residents, including active duty and veteran members, have an estate plan in place. Yet, the death rate in Florida has held steady at 100 percent. As an active duty or veteran member, you have and continue to do so much for this country. Please do not fall prey to this look-back period. Who knows if or when the proposed veteran’s benefits “36-month Look-Back-Period” legislation will pass. You have taken the honorable oaths of enlistment and office. Allow a competent and qualified estate planning attorney the opportunity to give you their oath to protect what you so rightfully deserve.

For more information on successful Florida estate planning, please contact the South Florida law firm of Wild Felice & Partners, P.A. at (954) 944-2855 to schedule your free consultation. While our South Florida estate planning attorneys have the expertise in tax planning, as well as the designations of LL.M. and CPA that provide for the highest level of professional service, our firm aims to shed the tax attorney paradigm that estate planners are often pigeon-holed with and focus instead on the dynamic relationships between our clients and their loved ones.
Estate planning is about those friends and family left behind, which is why we first ask our clients what their wealth transfer and asset protection goals are and then explain how we can accomplish those goals together.

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

This year could be your once in a lifetime year-end 2012 estate tax planning opportunity. However, you should act fast considering there are only 53 days left this year before we might all experience “taxmageddon.”

Clients hope that the presidential election will clarify the future of transfer tax rates and exemptions. However, the answers they seek may not be the answers they would like to hear. Therefore, this remaining year may be the opportune time to take advantage of the current federal applicable lifetime exemption which may soon be a thing of the past. The exemption for transfers is $5.12 million per person, and twice that for a couple. This is the highest exemption in estate planning history! Any amount over this magic number is taxed at a top tax rate of 35%. For gifting purposes, the annual exclusion for gifting is $13,000 per person, per recipient.

However, serious changes could be looming on the horizon. The current estate and gift tax is set to expire by the end of the month. There may be pending legislation to drop the exemption to $1 million with a top tax rate of 55%. It may be wise to act now given the unfavorable situation we may all be faced with.

Embrace the opportunity to preserve your wealth and protect your assets while you still can by fully using any remaining gift tax and generation-skipping transfer tax exemptions now. Contact your South Florida estate planning attorney for a toolbox of techniques for achieving your long term planning goals before Congress opens Pandora’s Box of tax reform.

If you have family, friends or even a charitable intent, the absence of an estate plan is inexcusable. 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?

“Lifestyles of the rich and famous” sings Good Charlotte, the American pop punk band from Waldorf, Maryland. The numbers are staggering. Today, there are more than 67 million Twitter users. Are you one of them? If so, please read closely. Celebrity Lady Gaga has 30,656,320 twitter followers (almost the current population of Canada), Justin Bieber 29,424,873 followers, Katy Perry 28,240,817 followers, Rihanna 26,407,641 followers and Britney Spears 21,380,602 followers. Are you a celebrity follower on Twitter? If so, please read even closer. We are a celebrity conscious culture. Celebrities consume more of our daily lives than ever before. Now, close your eyes. Imagine yourself being escorted out of a stretch Hummer limo, walking down the red carpet dressed in the finest designer clothes while being blinded by the flash bulbs of the surrounding paparazzi hoping to score that great shot. It’s the glitz and the glamour, the stardom, the wealth and influence that drives much of our society to live vicariously through celebrities. Fantasy never hurt anybody. “I’m half living my life between reality and fantasy at all times”, said Lady Gaga. But BEWARE: DO NOT FALL VICTIM—LIKE MANY CELEBRITIES HAVE, TO ESTATE PLANNING GONE WRONG! Estate planning is reality.

“The beat goes on” wrote Sonny Bono, former musician and politician. In 1998, Bono tragically died of injuries from hitting a tree while skiing. Bono never wrote a will. After his death, a child he secretly fathered out of wedlock surfaced to claim part of his estate along with his ex-wife Cher.

LESSON LEARNED: We have no idea how much longer “the beat goes on.” It would be wise to act now given the unfavorable situation we may all be faced with. Embrace this opportunity while you still can and contact your South Florida estate planning attorney now. You need to arm yourself with the necessary estate planning tools to protect your legacy and more importantly, protect your family.

If guitar legend Jimi Hendrix could have “One rainy wish”, what do you think it would be? In 1970, Hendrix unexpectedly died at the age of 27. Hendrix never wrote a will. Although Hendrix was closest to his brother, the state awarded everything to his father who then left everything to his adopted daughter from another marriage. Hendrix’s brother received nothing.

LESSON LEARNED: It’s never too late to make your “One rainy wish” a reality. If you have family, friends or even a charitable intent, the absence of an estate plan is inexcusable. 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.

Such nightmares could have been avoided by planning ahead.

Less than half of all Florida residents have an estate plan in place yet the death rate in Florida has held steady at 100 percent. The reason for this lapse in judgment is most likely due to a focus on the word “estate” rather than the word “planning.” The two biggest misconceptions made by most South Floridians that lack comprehensive estate planning is that they are either too young to worry about it or not wealthy enough to worry about. However, the fact remains that very rarely is estate planning solely about the money

To schedule your free consultation, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 or via email at info@wfplaw.com.

It’s a Wild world. Are you protected?