Astrue v. Capato, although a very unusual recent case, exemplifies the importance of creating a precisely worded, up to date estate plan that takes into account all possible life contingencies. This case is especially important if you do not want to unintentionally disinherit your children.

Florida resident Robert Capato and his wife Karen decided to freeze his sperm upon his diagnosis of esophageal cancer and upon learning that treatment could render him sterile. Following Robert’s death, Karen underwent in-vitro fertilization while living in Florida using his stored sperm. She then moved to New Jersey and gave birth to twins.

The problem was that Robert’s will, signed in Florida, failed to mention any children who might be born subsequent to his death. Karen, the child she conceived with Robert while he was alive, and his children from a prior marriage were the only named beneficiaries. According to Florida law, children conceived after a parent’s death cannot inherit from that parent, unless that are referred to in his or her Will.

When Karen claimed Social Security Survivor Benefits for the twins; her application was denied because Robert was already dead when the twins were conceived. The U.S. Supreme Court became involved ruling that Florida laws of intestacy applied because the children were conceived in Florida and therefore, the twins were not eligible for government benefits.

You can avoid such dire consequences by taking action now. All it takes is one simple phone call to your South Florida estate-planning attorney to avoid putting your loved ones through such grief and turmoil.

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?

Recently, Facebook has been receiving more attention than usual. There was a lot of reaction following the company’s IPO, its stock going public, and of course Mark Zuckerberg’s surprise marriage to Priscilla Chan.

So what does Facebook have to do with South Florida Estate Planning? More than you think.

Many of us are avid users of Facebook and we realize that our daily lives revolve around social media and profiles including Twitter, Flickr, and LinkedIn. However, most of us fail to consider what will happen to the online content and how our identities will be handled after we die. There’s more to it than that.

The Internet has become our new reality. Every day we are glued to our computer screens checking our multiple email accounts and paying our bills online. Business transactions have virtually gone paperless. We rely on our digital assets such as Netflix, Pandora, iTunes and anything else that requires a monthly fee.

What’s most interesting is that the U.S. government strongly suggests making a social media will. Like with a traditional will, an online personal representative will need to be appointed to close all your email addresses and social media profiles such as Facebook. You may decide to keep your social media profiles for friends and family as a memorial profile after you die.

Your digital assets must be accounted for in order to ensure proper distribution upon death. Because almost everything is done online, don’t forget to consider any online data you may be in possession of such as online bank accounts, investment accounts, bill paying accounts, and e-books. These relevant accounts along with username and passwords should be stored in your estate planning documents.

We can’t take for granted what’s consistently in front of our eyes. Our digital assets are just as important as any other assets owned and should be part of your estate plan.

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?

One year ago today, Randy Savage (more affectionately known as the WWF’s “Macho Man”) died of a sudden, massive heart attack while driving with his wife. He was only 58 years old. The only drugs found in his system were a prescription painkiller and a small amount of alcohol. Savage had never been treated for heart problems and there was no evidence he knew of any heart condition.

Tomorrow is not promised to any of us. Some men (and women) think that they are too Macho to worry about estate planning. No matter how young, fit or safe you believe that you are, the only certainty is that you will die. The only control we have is whether or not our Will, Trust and other estate planning documents are in place at the time of our death.

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?

Despite Tiger’s uncooperative Achilles’ tendon and Peyton Manning’s quest for a new football team, these two high profile celebrities share a common link- the high net worth of a professional athlete.

Forbes estimated the net worth of Tiger Woods to be about $600 million. As for Peyton Manning, it’s reported to be about $115 million dollars. However, with his soaring popularity with football fans and looming new offers with possible endorsement deals, it’s only going to increase.

With such wealth, power, and popularity also comes responsibility. That is, to oneself and to one’s family members. Asset protection and wealth preservation is the solution. Where there are deep pockets, there is also vulnerability to threats. Utilizing the right estate planning strategies and asset structuring can protect from potential litigation and creditor claims.  A solid estate plan will reduce estate taxes, avoid probate, and also lower court and attorney fees. It also provides some well needed privacy for high worth assets as respite from all that high media attention sports celebrities get these days.

Here in South Florida, there are so many benefits to be enjoyed from asset protection trusts such as  Charitable Remainder Trusts, Irrevocable Life Insurance Trusts, Qualified Personal Residence Trusts and so much more. Tiger and Peyton, as Floridians, might want to consider these options if they do not already have an estate plan in place.

It takes years of hard work to accumulate your wealth. But it can take seconds to lose it all. That’s why South Florida estate planning is one of the most critical processes every individual should engage in.

March Madness has a lot to do with estate planning. It is a team sport. Our lawyers work together with our clients to achieve the same goal in creating the perfect designed estate plan that will cater to his or her individual needs. When our clients win, we win…without the swinging or tackling.

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?

Apparently, it happens!

Louse White, an 81-year-old woman from Rhode Island asked a family member to buy her a lottery ticket from a local supermarket following an intense craving for rainbow sherbet ice cream. She ended up winning the Powerball jackpot. What did she do with all those millions? She was smart. She took the time to consult with her attorneys first, prior to claiming her sweet prize.   She and her attorney created the Rainbow Sherbet Trust to protect her newly acquired $210 million.

In South Florida, new trusts are being devised constantly. Concerned about heavy taxation on your life insurance policy? There’s an Irrevocable Life Insurance Trust for that. Are you feeling like a humanitarian today? There’s a charitable trust for that.  You finally decided to protect your family vacation home? Say hello to Family Trusts. So, you have decided to leave everything to your spoiled Maltese poodle? There’s a Pet Trust for that. As you can see, there’s a gourmet selection of trusts to choose from to cater to your every need. The most common one is called a “living trust” which includes a “revocable” and “irrevocable” trust.

Handling a princely sum of money can be overwhelming and stressful. Retaining an experienced and knowledgeable attorney is critical for protecting your money. New trusts are being devised constantly. Each one features different legal requirements and are designed to serve various purposes. Keep in mind that circumstances change over time that may dramatically affect your estate planning strategy. Consult a qualified South Florida estate planning attorney today and protect your money like Louse White did.

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?

Jeremy Lin, the NY Knick’s most recent point guard, has become one of the hottest topics of social media generating the most Twitter volume of any NBA player. He’s also more talked about than even our own President! He has now become the NBA’s most prized asset due to his ‘athletic prowess.’

Speaking of assets, another hot topic comes to mind. South Florida Estate Planning. This is a different type of field requiring ‘asset planning prowess’ that only your highly qualified South Florida estate planning attorney can equip you with. Even though this topic may not be as exciting as watching a rising Asian- American basketball star rocking the court with his “ally-oop passes” and “super dunks,” it certainly is more important. After all, it isn’t about you; it’s about protecting those you love the most after you are gone. Think about it for a minute. We make sure we purchase health insurance just in case our children get sick. We purchase car insurance just in case our spouse gets into an accident. We even set up a pre-paid college plan just in case our children have trouble paying for school. Notice how we strive to protect our loved ones from situations that might occur; just in case. But we rarely stop to consider situations that will occur. Death is inevitable. The death rate in Floriada is 100 percent. That’s why estate planning is crucial.

With estate planning, our team at Wild, Felice, and Partners can help you protect your family savings and investments from lawsuits and claims while helping you avoid probate and reduce your estate taxes.

The NY Knicks invested in an all star team from the Ivies. Its time for you to invest in an all star legal team here in Broward County.

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?