Tim Tebow has just passed the toughest test of his life: remaining celibate while dating Miss Universe, Olivia Culp.  Unfortunately, passing this test didn’t lead to a sense of accomplishment and some sort of reward.  Instead, Tebow found himself dumped, heart-broken and headlining all social media.  If Tim Tebow is literally losing women over protecting his most valuable asset, we suggest spending a few hours a year on protecting your assets. However, the assets we are referring to come in a much different form, of course.

The assets we are referring to come in the form of estate planning and business planning. There are many benefits to creating an estate plan.  You can appoint a guardian to look after your children, avoid probate and even control over your assets from beyond the grave.  Many individuals don’t realize that without an estate plan someone you don’t know or maybe don’t even like could end up raising your children and/or spending your money.  Proper estate planning guarantees your assets are protected and distributed according to your wishes.

Contrary to popular belief, it’s always the right time for an estate plan!  Even if you aren’t married and don’t have any children, you still should consider protecting the wealth you have accumulated.  Perhaps you own a small business of your own or are part of a partnership with a friend. What if your business is sued? You may find yourself personally liable for judgment against your business and at risk of losing everything that you personally own. This can easily be resolved through creating a trust.  When your assets are in a trust, they cannot be reached by creditors, litigation, bankruptcy or even divorce.

Do like Tebow:  protect your assets!  While Tebow wasn’t rewarded, you surely will be.  Call Wild, Felice & Partners today to schedule your free consultation and allow our attorney’s to provide you with the peace of mind of knowing that both you and your family are protected.

To learn more about asset protection through estate planning visit http://wfplaw.com

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.

November is coming to a close and the end of the 2015 is upon us.  Now is the time when many Americans begin to think of what they are thankful for while simultaneously considering what they want to change in the coming New Year.  Health is usually a top contender on the “Thankful” list while living a healthier life ranks in the top three on the “Things I’d Like to Change” list.  Your health is something that should never be taken for granted considering how fragile life is and living a healthier lifestyle will most definitely improve your health.  However, less stress and peace of mind will also lead to a healthier you.  Consider adding to your list creating an estate plan and achieve ultimate peace of mind for both you and your loved ones.

Did you know that without an estate plan your estate will be subject to probate?  Probate is the method by which your estate is administered and processed through the legal system if you die without a will. This means that your debts and taxes will be paid before your beneficiaries receive their inheritance.  This also means that you have no control over who receives what or how they receive it; meaning, someone you may not even like could end up with all that you have worked for.  Fortunately, there are legal methods that allow you to make the process of distributing assets after death less costly, less stressful and that allow you to remain in control.

First, consider a Will.  Creating a Will is the first step in the right direction to help ease the stresses associated with the probate process; however, this is not all that you will need. Consider placing your property in Trust to protect it from creditors, to control the manner in which your assets are distributed and to avoid probate all together.  Also, be sure to have an estate planning attorney draft a Power of Attorney, a Living Will and a Designation of Healthcare Surrogate as part of your estate plan.  These documents will not only ensure that your family will be protected but they will also designate an individual you trust to make legal and health related decisions for you when you are no longer able to make them yourself.

Planning for the future will save your family members additional grief, unnecessary stress and allow you to control how and to whom your assets are distributed.  An attorney that specializes in estate planning can help explain the legal tools that are available to each individual depending on their specific goals.  As November passes and the New Year approaches, add scheduling your free consultation with Wild, Felice & Partners, P.A. to your list and allow our attorneys to provide you with peace of mind.

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.

Tommy Hanson of the Atlanta Braves passed away last week from Catastrophic Organ Failure. The former Atlanta Braves pitcher was experiencing trouble breathing on Sunday when he was rushed to a nearby Atlanta hospital. The death was completely unexpected as the pitcher was only 29 years old and appeared to be both healthy and strong. “Big Red” as he teammates affectionately called him, will certainly be missed.
This tragedy is a reminder of how short life can be. Most of us make the common mistake of thinking that we have plenty of time to get everything in order but tomorrow isn’t promised to any of us. Do not assume you are too young or not wealthy enough. Instead, contact the office of Wild, Felice & Partners, P.A. today for your free consultation. Sit with one of our experienced estate planning attorneys and allow them to help you:
1. Identify your assets
2. Identify and achieve your goals: Is your biggest concern designating a guardian for your children? Or perhaps you wish to ensure your family is not subjected to probate. Perhaps you wish to control your assets from beyond the grave. Whatever your goals are, allow our attorneys help you to achieve them.
3. Help you choose the correct technique for protecting yourself, your wealth and your loved ones: There are many techniques used to protect yourself and your family. Your goals will determine which technique is best for you. Some of these techniques include: The Last Will and Testament, Irrevocable Trust, and a Living Trust.
4. Durable Power of Attorney: A durable Power of Attorney allows you to designate and authorize someone to legally act on your behalf, in the event that you are unable to do so. Not having one could mean that someone you don’t like could make your financial decisions.
5. Healthcare Surrogate and HIPAA Release: A HealthCare Surrogate allows you to designate and authorize someone to legally act on your behalf and make important healthcare decisions, in the event you are unable to do so. A HIPAA release will allow the authorized individual to pull your medical records to aid in making important decisions.
6. Living Will: The Living Will will convey your wish to either be kept alive artificially or instruct the doctor to pull the plug.
Life is filled with unexpected twists and turns. Create an estate plan today to protect yourself and your family for tomorrow.
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

With the World Series now underway, the New York Mets face off against the Kansas City Royals. This should be quite the battle since the Royals have not held a World Series title since 1985 and the Mets have not seen a title in the last 29 years.  Each team is undoubtedly pumped and their fans are likely wearing their lucky unwashed undergarments (gross but necessary).  Just as each team is taking the necessary steps to avoid striking out come game time, you too should take the necessary steps to protect your assets and be prepared for any curve ball life may throw your way.

Every individual, no matter what their circumstances are, should be concerned with protecting their assets. With 16 million new civil suits being filed each year, no one is completely safe from the possibility of litigation.  No need to be stifled with fear, however.  At Wild, Felice & Partners, P.A., our attorneys focus on asset protection through estate planning and business formation.

Estate planning

The most favorable estate planning tool is the Living Trust.  By creating a Living Trust you are protecting your assets and loved ones from probate.  Probate, the legal process of proving one’s will, is costly and can take anywhere from 6 to 12 months to complete.  Avoiding probate through the creation of a Living Trust allows for the assets you leave behind to be distributed timely and in any manner you deem suitable.  Further, the assets remain protected long after you’re gone as they are segregated from any possible lawsuit, divorce, or bankruptcy your beneficiaries may become part of.  Other important documents that will be included in your trust based plan include a last will and testament, assignment of property, durable power of attorney, living will, healthcare surrogate and HIPAA release form.

Business formation

Asset protection for business owners begins with choosing the proper business form. Whether you own a business as a sole proprietor or as part of a general partnership you can be held personally liable for all of the debts of the business.  However, you can avoid these business debts and protect your assets through creating a Limited partnership, Limited Liability Company, or Corporation.

The Limited Liability Company (“LLC”) is a commonly used structure that offers higher liability protection than a corporation would. Once the LLC is formed it then assumes ownership of the assets.  By eliminating your personal ownership and, instead, owning your assets in an LLC, you are safeguarded from being pulled into a lawsuit brought against you.  This means your home and personal accounts (i.e. bank account) remain untouched since you are not personally liable.  This feature allows the LLC members to remain in control of the assets without having to worry about any risk associated with having title in their name.  Since there are many steps involved in properly forming an LLC, it is imperative that you contact a qualified attorney to assist you from start to finish.

Don’t strike out. Protect your assets from probate or a possible business debt. Whether estate planning or business formation is the appropriate technique for you, our attorneys can assist you.  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 and schedule your free consultation, or visit our website at www.wfplaw.com

It’s a Wild World. Are You Protected?  SM.

Ex-NBA star Lamar Odom was found unconscious, vomiting and foaming from the mouth last week in Las Vegas, Nevada. Since his admission to the hospital, blood tests revealed that both cocaine and opiates were found in his system and he had suffered from an overdose.  Odom’s initial condition was listed as critical and he was comatose for most of the week.  Luckily, his condition has improved significantly and he is now awake and breathing on his own.  Still, Odom’s mental state may not permit him to make his own financial and medical decisions. This tragedy reminds us of how important it is to make certain that all of the necessary healthcare documents are in place and that your estate plan in up to date.

Whether you have never considered an estate plan before or if you have an older plan in place, now is the time to visit our South Florida office for a free consultation. Life is unpredictable and changing constantly.  Therefore, it is important to have an estate plan that is updated accordingly with these changes.  By creating an estate plan, you are ensuring that your loved ones and the wealth you have accumulated are both protected.  The most desirable way to accomplish this goal is by creating a living trust.  Since the trust will hold your assets, they will not be subject to the lengthy and costly process of probate.  Instead, your assets will be distributed in a manner you deem appropriate and to whichever beneficiary you desire.  Unlike a will where your wishes become public record upon your death, the content of your trust will remain private.  The trust based plan will also include all of the necessary healthcare documents, such as:

Durable Power of Attorney: Appoint the individual you see fit to make all of your financial decisions, should you become incapacitated or otherwise unaware of your surroundings.

Designation of Health Care Surrogate:   Designate a healthcare surrogate to handle your medical decisions, should you become incapacitated or otherwise unaware of your surroundings.

Living Will: An important document that allows your healthcare surrogate to give the doctor the necessary authorization to “pull the plug” if you are being kept alive by artificial means.

Lamar Odom’s tragic event is proof of how fragile life can be. Prepare yourself for the unpredictable by calling the South Florida firm of Wild, Felice & Partners today for your free consultation.

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