The Nike “Just Do It” campaign allowed the company to increase their share of the sneaker business from 18% to 43% between the years 1988 and 1998. There must be something to it…

People tend to not like dealing with estate planning because they believe that it is an acknowledgment of their mortality, so they put it off. But lack of action is not smart. 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. Estate planning covers the transfer of property at death as well as a variety of other personal matters and may or may not involve tax planning. The core documents most often associated with this process are your will and your trust.

At Wild, Felice & Partners, P.A. we take great pride in our ability to successfully cater to the needs of all Floridians. Whether you are a highly successful and high net worth individual or you are still working hard on creating your nest egg, we can help you accomplish your goals. We assist our clients in determining how best to structure their holdings, as well as assisting in the disposing of such assets during and after their lifetime. Our attorneys focus primarily on minimizing a variety of estate related taxes, while simultaneously protecting assets from third party creditors.

Our South Florida firm routinely utilizes a variety of estate planning tools, including Trusts, Wills, Powers of Attorney, Health Care Surrogates, Funding Techniques, and more. In addition, we may advise for the formation and funding of a family limited partnership which provides, among other things, asset protection, a positive method of control and a long term plan for the accumulation of wealth that will remain outside of one’s taxable estate. By utilizing the estate planning techniques that we have perfected, we may be able to protect your family from unnecessary hassles and save them tens of thousands of dollars.

Take a cue from Nike: “JUST DO IT.”

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

Super Bowl weekend is finally upon us. Rolling Stone has listed some of the best past Superbowl halftime shows in honor of football’s biggest day. Along with some of these epic musical performances, we are enumerating some of the best reasons why you should have a trust in place.

• Rolling Stone’s list of memorable musical gigs include Pete Townshend’s “Won’t Get Fooled Again.” Just like he fired up the crowd in 2010, you can rock your estate plan by establishing a trust, which allows you to make  special gifts to individuals or organizations. This can include gifts such as jewelry, furniture, or even family heirlooms.
•  In 1995, Patti LaBelle won hearts by dressing up as an Egyptian princess while belting out “Release Yourself.” You can release yourself from the burdens of heavy taxation by having your South Florida estate planning attorney help you structure your estate in order to reduce or even eliminate estate tax.
•  In 1997,  James Brown stole the halftime show while sporting his pink satin suit during the big hit “I Feel Good.” Nothing feels better than saving tons of money. A trust avoids probate which can save you thousands of dollars in probate costs and attorney fees.
• Bruce Springsteen made the list when he busted out his classic “Born to Run” in 2009. With a trust in place, your estate can be settled after your death as fast as a quick  jog. You don’t have to worry about a protracted process that can take up to years due to the judicial process and court delays.
•  In 2005, former Beatle, Paul McCartney unspooled his talent during his performance in “Live and Let Die.” The world can be a very difficult and capricious place to live in. Experience can have a disenchanting effect on even the most open hearts. With a trust, you have control. You can include instructions on how you would like to have your assets managed. You can revoke elements of your trust, change your beneficiaries, and sell property.
•  Who can forget Michael Jackson’s stellar performance in 1993 when he brought the house down with “Billie Jean.”  Just like the King of Pop, who valued privacy when it came to his personal life, a living trust allows you to keep your financial affairs and the names of your beneficiaries private.
• Janet Jackson and Justin Timberlake’s performance in Super Bowl 2004 will always be deeply ingrained in our memories regarding that infamous wardrobe malfunction incident. Having a trust in place is low maintenance and you only need to amend your trust when changes in your life occur. You might want to change or add a new beneficiary to your estate or you may decide to change how your assets should be distributed. There is very little room for a trust malfunction when you keep it up to date.

“Expect the best. Prepare for the worst. Capitalize on what comes.” Zig Ziglar

No one wants to focus on their own mortality but most people still have some kind of an end-of-life plan that includes a will and a burial plot. Unfortunately, small business owners tend to forget that their small business could be the largest asset they leave their family … but only if they plan for their business to live longer than they do.

Birth, death, sickness, marriage, divorce, natural disasters…these are all variables that can change your life and the life of your business. Ignoring them is not the answer. A good business succession plan can protect your small business from all of them.

What are the advantages of creating a business succession plan? First, it ensures an agreeable price for a partner’s share of the business and eliminates the need for valuation upon death because the insured agreed to the price beforehand. Second, any life insurance policy benefits will be immediately available to pay for the deceased’s share of the business, with no liquidity issues or time constraints. This effectively prevents the possibility of an external takeover due to cash flow problems or the need to sell business or other assets to cover the cost of the deceased’s interest. And third, a succession plan can greatly aid in allowing for timely settlement of the deceased’s estate, including avoiding probate and the eliminating the estate tax.

What are the most common questions resolved by implementing a business succession plan?

1. Who will be my successor?

2. How much is my business worth?

3. What will happen to my business partners and their families?

4. How will my business be transferred to my partners or heirs?

5. What happens to my company if I become incapacitated?

6. Can I keep my relatives from inheriting my company?

7. How do I protect my spouse and children?

At Wild, Felice & Partners, PA, we are able to provide a full range of legal services to our business clients. Whether buying a new business, selling an old business, or operating a current business, our lawyers are trained to examine all aspects of business planning and see to it that all possible issues are addressed. We pride ourselves on providing accurate advice for your specific business needs. 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.

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. We are able to provide the expertise and guidance needed to develop a succession plan specifically tailored to your business. Our lawyers are trained to examine all aspects of business planning and see to it that all possible issues are addressed.

For more information on how to plan for you business’ future, contact our South Florida law firm of Wild, Felice & Partners, PA for a free consultation at (954) 944-2855.

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

In the perfect land of estate planning, the SAG Award for outstanding cast would be presented to the talent behind the fictional production of “The Spouse’s Share.” Ben Affleck and ‘Argo’ would have nothing on the South Florida estate planning attorney and the client behind the making of a Last Will and Testament. The client’s moment to shine occurs when he or she takes the time to discuss with a lawyer how his or her assets should be distributed to the surviving spouse upon death.

This golden opportunity is lost forever when this type of critical planning escapes one’s attention.

Do you know what happens in Florida if you are married but die without a will?

Fla. Stat. §732.102 governs the surviving spouse’s share of the intestate estate.

1. If you die without any surviving descendants, your entire intestate estate will go to your spouse. This does not typically include non-probate assets.

2. If you die with surviving descendants, all of whom are also descendants of the surviving spouse and the spouse has no other descendants, then he or she again receives the entire intestate estate.

3. On the other hand, if you have children from a previous relationship that are not lineal descendants of the surviving spouse, then he or she only gets half of your estate.

4. If the surviving spouse has children from a previous relationship that are not yours but you have one or more children together, then again he or she only gets half.

The Academy Award of all estate planning begins with a Last Will and Testament.

If you don’t ‘act’ now with respect to your assets, there can be some unexpected twists and turns in the story line of your legacy that you might not like. What if you would like your spouse to receive more or less of your fortune?  To avoid any unintended and unhappy endings, make the call to your estate planning attorney today for proper direction.

Lights, Camera, Action… you have a will to draft.

For more information on successful Florida asset protection techniques, please contact the South Florida law firm ofWild Felice & Partners, P.A. at 954-944-2855 to schedule your free consultation. It’s a Wild world. Are you protected?SM

When you invest in South Florida rental properties, your risks are more than just a struggling real estate market and a renter that may pay later than the first of the month. Owning investment real estate in an individual’s own name is one of the biggest mistakes a person can make. By using a multiple member Florida limited liability company (LLC) as the owner of the property, the investor creates a protective shield that prevents them from being sued personally in case a renter or their guest gets injured on the property. The LLC will also shield the real estate from any personal creditors the investor has.

If your Florida business requires you or your employees to physically touch a client, or you are in an industry that tends to be litigious, it is imperative that you establish an asset protection plan beyond the presence of professional liability insurance. The “do-it-yourself” asset protection plan physicians used to employ was to put everything in their spouse’s name but that went out the window when the divorce rate went over fifty percent. Now, more than ever is the time to sit with a professional asset protection attorney and put a legitimate asset protection plan in place.

Wild Felice & Partners is a full-service, Fort Lauderdale, Florida based law firm with a specialty in estate planning, asset protection and probate administration. We utilize a combination of real estate law, estate planning strategies, corporate formation, family law, and asset structuring to assure that our clients are protected from potential litigation, creditors, and any other threats that may be looming.

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 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 world of high school, college and professional sports is struggling with the use of steroid by some of the biggest names in the game. An athlete on steroids enhances his or her body performance and muscle mass. No need to use steroids to enhance the performance of your estate plan. Living trusts will work just fine.

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 Settler may revoke the former type of trust at any point during his or her lifetime. The two main estate planning benefits of living trust establishment include: 1) assuring adequate asset administration in event of the Settlor’s incapacitation and 2) probate avoidance upon the Settlor’s death.

Modern-day medical advances have greatly extended human longevity. It is therefore common for elderly people to be stricken with various debilitating disorders that destroy or severely diminish the mental or physical capacity necessary to manage one’s own affairs. In such instances, a living trust ensures that hard-earned assets are not wasted due to neglect or mismanagement. Just as wills are “paper voices” by which the deceased express their desired asset divisions, trusts are “legal faces” for the administration of living parties’ assets. Avoiding probate is a major strategic estate planning advantage of trusts. Conventional wills must be filed in a court of competent jurisdiction before any property distributions thereon. This process can be lengthy, complicated, and costly. Living trusts eliminate such eventualities by direct asset distribution to heirs upon the Settlor’s demise.

Estate planning is an especially dynamic legal field. New trusts are being devised constantly. 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. This criminal offense is punishable by fines and/or imprisonment. 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.

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.

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