Posted by on Aug 2, 2016 in asset protection, Business Plan, estate planning, Probate, Special Needs Trust, Trusts, Wills |


If you haven’t considered life insurance before then today should be the day you do!  Life insurance provides assurance for your family after you die.  Funeral expenses, business expenses, unpaid mortgages and other expenses can cause the surviving family members to suffer a great financial burden.  Life insurance can be a way to alleviate this stress.  However, since you own the life insurance it will contribute to your estate’s overall value upon your death which means your family may face unnecessary tax issues.  Luckily, this too can be remedied by seeking the help of a qualified estate planning attorney.

An Irrevocable Life Insurance Trust (ILIT) is an estate planning tool commonly used to remedy the above scenario.  By creating this type of trust, you allow your family to still benefit from the life insurance without the hassle of a possible tax issue.  The ILIT transfers the benefit into the trust and you relinquish all control of the life insurance policy.  Relinquishing control is required by the IRS if you wish to avoid estate taxes.  Doing so removes the life insurance from your estate and decreases the taxation your family may potentially face.  The end result is an increase in overall asset protection for the family.  When creating the ILIT you must designate an individual you trust to distribute the assets (a Trustee) as well as designate a beneficiary, which can be a spouse, child or any other appropriate individual.  You may also include detailed instruction with respect to how you wish your trust to be managed.  Once in place the terms of the ILIT cannot be changed.  Upon your death the ILIT will transfer the funds to your beneficiaries just as a Revocable Living Trust would but what they will inherit will fall outside the IRS.  This estate planning tool offers ultimate tax free protection for the family.  Whether you left a home with an unpaid mortgage or a business with a hefty overhead, your family will be able to tackle the financial burden with ease.

For more information on successful Florida estate planning and asset protection techniques, please contact the South Florida law firm of Wild Felice & Partners at 954-944-2855 to schedule your free consultation.

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

Read More

Burgers, Beers & Estate Plans!

Posted by on Jul 1, 2016 in estate planning, Probate, Special Needs Trust, tax, Trusts, Wills |

Time to break out your red, white and blue gear and get your stomachs ready for some serious BBQ because July 4th is right around the corner!  Most Americans will be celebrating Independence Day with good food, friends, family, flowing drinks and a fire work display.  Why not add an estate plan to the mix?

Unfortunately, it’s a common misconception that estate planning is just for the rich or elderly.  Estate planning is actually a necessary step for individuals of all ages, no matter what their economic status may be.  At a bare minimum, everyone should consider having a Will in place to designate guardians on behalf of minor children, spell out wishes for cremation or burial and include how you wish your assets to be distributed.  For business owners or individuals with a growing family, a Revocable Trust is always a great option since it details how, when and to whom the distributions will be made.  You can ensure your children finish college, have the funds for a first home or reach an age of maturity before inheriting a great deal of money.  Other important documents that everyone should have include the following:

Living Will:  This advanced directive is better known as the “pull the plug” document.  By signing a living will, your healthcare surrogate has the authority to tell the doctor to pull the plug and let you pass naturally.

Durable Power of Attorney:  Nominate who will continue to pay your bills, have access to your accounts and be able to make other important financial decisions on your behalf should you temporarily be unable to do so yourself.

Healthcare surrogate and HIPAA Release:  Decide in advance who will have access to your medical records and be responsible for making important healthcare decisions on your behalf should you be unable to do so yourself.

This 4th of July, don’t just party because it’s Independence Day but celebrate because you know you, your family and future generations to come are fully protected.  Celebrate knowing you have achieved ultimate peace of mind through creating an estate plan.  Call the attorneys at Wild, Felice & Partners at (954) 944-2855 for your free consultation today.

For more information on Estate Planning, Asset Protection and Probate Administration, visit our website at

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


Read More

Even When The Lights Shut Off, Everyone Still Wants A Piece

Posted by on Sep 21, 2015 in Digital Estate Planning, Elder Law, estate planning, Probate, Special Needs Trust, tax, Trusts, Wills |

Robin Williams

It’s not all glitz and glam once the lights turn off, something that Robin Williams’ family is quickly discovering. The beloved star, who passed away last year, is having his estate  administered through probate, and fighting among family members is beginning to plague the process. Although Robin Williams had an estate plan, much of his assets were unaccounted for, leaving his children from prior marriages, and widowed spouse in disagreement over who is entitled to what. Avoid this hassle, and spare your loved ones the stress and grief that accompanies a contested probate process. It is imperative that you not only have a prepared and updated estate plan in place, but also that you speak with your family members to discuss these plans so that there are no surprised, or even worse, angered members once you’re gone.

Avoid some of the more common Estate Planning Mistakes:

Top Estate Planning Mistakes

  1. Thinking That You Have Plenty Of Time To Get To It:  No one has a crystal ball and tomorrow is not promised to any of us.  I have clients that have hired me to draft their estate plan and then they died prior to being able to sign it or fund it.  There are other people who die too young to even sit with the attorney.  Estate planning is necessary for everyone and you should sit with your attorney as soon in life as possible.
  2. Drafting Your Own Estate Plan:  There are so many moving parts with a trust-based estate plan that attempting to do it yourself is the equivalent of trying to take your own appendix out.  There are legal requirements in drafting, executing, funding, and updating.  If you miss any of them, it could invalidate your entire plan.  An estate planning attorney doesn’t sell you documents, they provide the service that goes into making sure that those documents are correct.
  3. Not Knowing Where All the Assets Are: A scattered estate plan by a secretive decedent may cause some assets to be left uncollected, undistributed and even lost.
  4. Not Updating Your Estate Plan:  It is imperative that your estate plan is reviewed on an annual basis to avoid unintended results.
  5. Not Communicating with Trustees and Beneficiaries:  It is important to let the people who are named in your estate plan know what role you are asking them to play.
  6. Leaving the Living Trust Unfunded: A living trust is merely a vehicle that allows you to pass your assets outside of probate.  However, if there are no assets in the trust, nothing has been accomplished.  You can buy the most expensive safe at the store but it wont protect your valuables unless you put the valuables into the safe.
  7. Leaving Assets Outright to Beneficiaries: Assets that are left outright to heirs and beneficiaries are exposed to creditors, predators and divorcing spouses.
  8. Not Having a Living Will:  A living will gives guidelines for your physician to follow in the event you are in a terminal, end-stage, and persistent vegetative state.
  9. Not Having a 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 become incapacitated.

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

Read More

Football, Concussions, and Planning For Incapacity.

Posted by on Sep 8, 2015 in asset protection, estate planning, Special Needs Trust, Trusts, Wills |


Another football season is upon us and with it, undoubtedly, another controversial discussion regarding concussions and the trauma inflicted on player’s brains. Getting your bell rung is no longer considered a badge of courage, but rather, a grizzly reminder of the potential ramifications of life after football.

Plain and simple, estate planning helps protect your family in the event that something bad happens to you, and yet, 55% of Americans don’t even have a last will, leaving them vulnerable to costly court fees and legal battles.  Even though it’s predicated on incapacitation or death, estate planning doesn’t have to be morbid. In fact, it can actually be life-affirming, because the process will allow you to take a closer look at the people you care most about in life—and ensure their future happiness.

Whether you choose a will based plan or a trust based plan, your planning should also include a power of attorney, a designation of health care surrogates, and HIPAA releases. These planning tools may be overlooked, but their importance cannot be overstated. The power of attorney and designation of a healthcare surrogate will allow important healthcare and financial decisions to be made for you in the event of incapacity or death, while the HIPAA release will make sure your healthcare surrogate will have access to whatever he or she needs to make informed decisions. By planning for the future and using these various techniques, your family will be better protected from creditors and other hassles when the time comes. Get ahead of the other 55% and get an estate plan today. It’s never too early to plan ahead.

To be better prepared for sudden and unexpected sickness, incapacitation, or death, you will benefit from the following documents:

  1. Living Trust – the best way to maintain control over all of your assets and distributions, while avoiding the hassle, expense, and lack of privacy associated with probate.
  2. Last Will & Testament – this is your traditional will that is used upon death to distribute property to beneficiaries, specify last wishes, and name guardians for minor children.
  3. Durable Power of Attorney – this allows you to designate and authorize someone to legally act on your behalf, in the event that you become incapacitated.
  4. Combination Living Will & Designation of Healthcare Surrogate – this outlines important healthcare decisions in advance, and appoints a healthcare surrogate to make healthcare decisions for you when you become unable to do so yourself.

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, or visit our website at

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


Read More

New Law offers 529-ABLE Plans For Special Needs Beneficiaries

Posted by on Jan 24, 2015 in Special Needs Trust |


2015 is a special year. For the first time ever, disabled persons and their families receive a new type of savings with the benefits of tax-free growth.

This new saving vehicle is called 529 ABLE plans, authorized by Congress in late 2014. It is similar to a 529 college plan, yet it allows people with disabilities to save as much as $100,000 and still apply for additional benefits, such as Medicaid and Supplemental Security Income. A disabled person or family member(s) can make one-time or regular contributions into the 529 ABLE plan. The plan can grow “tax-free” if used on qualified expenses. These expenses include education, housing, transportation, employment training, legal fees and funeral expenses.

Sounds similar to a 529 plan? It is! The main differences between the two plans are the “options.” For example, a family opening a 529 plan must select a plan offered by the state in which they live; however a family opening a 529-ABLE plan can select a plan offered by any state. Didn’t we mention 2015 was going to be a special year?!

In order to qualify for the 529-ABLE plan, a certification is required by a doctor, and primarily for those who became disable before reaching the age of 26.

At Wild Felice and Partners, we have provided special needs planning to hundreds of South Florida families. We are excited to help families with this new plan as well. If you have any questions regarding the 529 ABLE or special needs planning, please contact us for a free consultation.

Our phone number is 954-944-2855 and website

Wild Felice and Partners provide estate planning and asset protection in Fort Lauderdale, Plantation, Weston and Miami.

Read More

What is a Special Needs Trust and Why Do I Need It?

Posted by on Jul 31, 2014 in Family Law, Special Needs Trust |


A special needs trust is designed for beneficiaries who are disabled, either physical or mentally. It is often viewed at as a stand-alone document that can be included in a Last Will and Testament or a Revocable Living Trust.

Special Needs trusts can provide benefits far beyond a traditional trust, addressing the specific needs of that disabled family member. Some of these benefits include supplemental security income, Medicaid, vocational rehab, and subsidized housing to name a few.

If the beneficiary lacks the legal capacity to handle his/her finances, an administrator, whether a private trust run by family members or by trustees appointed to the court, can hold and manage property intended for the beneficiary. In additional to the unlimited amount of assets a Special Needs Trust can provide, it can also protect your beneficiary should they encounter a lawsuit. Trust funds are not subject to creditors or seizures, and are not subject to judgment.

It is important to keep in mind that when a child turns 18, they are presumed to have the legal rights of adults, no matter their condition.  Therefore, parents and guardians should make a valiant effort to learn about all the different options for their beneficiary and seek legal counsel. It is important to remember that if you wish to set up a special needs trust, you need to do so with an attorney familiar with this area of law. A poorly written trust can be ineffective if not written properly.

To learn more about special needs trusts or discuss other estate planning options, contact Michael Wild of Wild Felice & Partners in Plantation for a free consultation.

Read More