This Memorial Day South Floridians and citizens all across the nation took some time to remember the men and women who died while serving in the U.S. Armed Forces. Cemeteries and memorials were visited to honor those who have been wounded or died while serving our country.

Other people give back in another meaningful way. They make gift bequests to veteran and military charitable organizations. For example, donors might gift a certain percentage of their estate to these foundations. Proceeds guarantee continued growth and development of future educational programs and provide benefits for our soldiers. However, it is a good idea to have your South Florida attorney assist you during this process.

Such a bequest can provide estate tax benefits. If you are considering this option, there is a variety of valuable gifting vehicles your South Florida attorney can apprise you of including the use of specialized trusts such as Lead trusts, Charitable trusts, and Remainder trusts to suit your specific agenda.

Creating your legacy through planned giving is an admirable act that demonstrates your core, personal values and character. By making your mark on humanity, why not also benefit your estate?

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?

The 5th of May is finally upon us and although Cinco de Mayo is not widely celebrated in Mexico, it is the most celebrated holiday of Mexican culture in the U.S. Even though 1 in 4 South Floridians are Hispanic, everyone will probably be enjoying a little bit of salsa, margaritas, and cheesy enchiladas.

Here’s some more food for thought to add to your fiesta menu- estate planning.

Unfortunately, estate planning rarely gets the attention it deserves. One day we are all going to die and it is important to determine what will subsequently happen to all the assets that we own.

First of all, every South Floridian should have a will. This is especially true if you are married and have minor children. Your will not only stipulates the distribution of all your assets but also appoints a trusted guardian to look after your little ones when you pass away.

What will happen if you become seriously injured or incapacitated? You need a living will and medical directives to express your wishes to stay on life support or end all artificial means of living.

You can spice up your plan by reducing estate taxes, insulating your assets from creditor claims, and ensuring smooth transfer of property through trust formation and administration.

Estate planning is a complex field of law. It is important to contact a highly skilled South Florida estate planning attorney. You will learn about the necessary tools and strategic ways in protecting your assets you probably never thought possible. Don’t be surprised if your reaction is something like “Holy Guacamole! I should have done this sooner!”

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?

We’re all familiar with the ever popular Archie Comic book series. However, it’s a shame that the company is now subjected to bitter legal disputes between co-owners, Ms. Silberkleit and Mr. Goldwater, daughter in law and son of two original founders, respectively. Both have very different plans for the future of Archie and lack of common ground is disintegrating their work relationship. Ms. Silberkleit has an injunction issued against her from speaking publicly about the company and Mr. Goldwater has a defamation lawsuit on his back. Both parties have seemingly irreconcilable differences resulting in costly legal expenses, all which could have been avoided by a Business Succession Plan.

The founders of Archie, Louis H. Silberkleit and John L. Goldwater forgot that their business could well have been the largest asset they left their family. A good succession plan could have avoided the flaming legal contentions between the current CEO’s and safeguarded the future of the comic book empire. A crucial thing to consider is who will be the successor of the business. Two leaders of a company that continuously butt heads is unhealthy for the business. Other important affairs to consider are whether you want to keep certain relatives from inheriting your company, how to protect your children, what will happen to your business partners, and what the worth of your business is.

With a solid business succession plan in place, you can be sure of timely settlement of the estate after you are gone, avoid probate, and eliminate estate tax. Also, a solid plan ensures an agreeable price for a partner’s share of the business and ease of life insurance policy payouts. You can avoid liquidity issues and time constraints. This can prevent cash flow problems and the need to sell the business.

Learn from this Archie crisis. Avoid toxic family disputes and legal battles by preparing your South Florida Business Succession Plan today!

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?

Today is Emancipation Day which is a holiday observed in Washington D.C. that marks the anniversary of the signing of the Compensated Emancipation Act, which Abraham Lincoln signed back in 1862. The Act had to do with the emancipation of slaves of African origin. Thanks to Lincoln, the Emancipation Proclamation soon followed.

However, today there is another form of emancipation we need to observe. It has less to do with “political emancipation” and more to do with “financial emancipation.” A properly designed South Florida asset protection plan will accomplish many important objectives. You will be able to free your loved ones from the burdens of heavy taxation by reducing your estate tax. You can eliminate probate. You may be able to protect your family savings and investments from lawsuits and claims.

With a solid South Florida estate plan drafted by your qualified South Florida estate planning attorney, you can protect against inadequate or unavailable insurance coverage. You should consider insulating your rental properties to reduce your exposure to potential lawsuits. You may also be able to protect your business assets and accounts receivable from potential claims.

There is so much you can do to help your family enjoy financial freedom when you are gone. Learn about proper will drafting, trust administration, and the probate process in order to have your intentions fully carried out and your family fully protected.

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?

So, the Internal Revenue Service extended the deadline to file your 2011 tax returns for an additional two days. April 15 falls on a Sunday followed by Emancipation day on Monday. So for the procrastinators in South Florida, you are saved.

Unfortunately, when it comes to estate planning, you can’t take a holiday from death or request an extension. Procrastination can have deadly financial effects on your family if you keep making excuses or finding distractions to prolong this crucial process.

It is easy to neglect this concept now especially when we’re too busy filling out our 1040 forms. But doesn’t the pain of increasing income tax just make your head spin with thoughts of tax and more tax? Think about it for a minute. Although, Florida does not require state income tax, homeowners must pay property taxes. Also, Florida has a general sales tax of 6 percent. Don’t forget capital gains tax.

People rarely stop to consider another very important category of taxes.

Federal Estate Tax.

This is a tax imposed on property passed from deceased individuals to their heirs or beneficiaries. In 2011, estates worth more than $5 million were prey to Uncle Sam’s hungry appetite for freshly picked greens. However, although frequently overlooked, estate tax can be substantially reduced with the guidance of a highly qualified and experienced South Florida estate planning attorney.

South Floridians have to pay enough taxes. Why carry an additional burden when you might not have to? Without a proper plan, family members will be financially drained. The Fort Lauderdale law firm of Wild, Felice and Partners employs a wide array of successful techniques including trust formation, insurance benefits protection, and charitable gifting to strategically limit heavy taxation and save your loved ones hundreds of thousands of dollars.

While you may never get out of paying your income tax, you may get out of paying too much estate tax. But you have to act fast or you could end up taking a permanent vacation from life… leaving your loved ones in despair.

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?

This holiday weekend many South Floridians will be getting together with family members to celebrate Easter and Passover 2012. Organizing family gatherings, preparing lavish meals, and participating in special songs and customs will be the focus of attention. Children in particular will be anticipating customary gifts.

If you’re struggling in preparing the perfect Easter basket for your little ones, here’s something to consider. There is nothing sweeter than the types of gifts that come from thoughtfully planning your South Florida estate plan.  For example, your will and living trusts are ideal vehicles in properly transferring assets to your children. Not even chocolate bunnies or candied eggs can compete with that.

There is so much to consider in such legacy planning that only a highly experienced and knowledgeable South Florida estate planning attorney can effectively guide you through this complex process. You might have family-owned businesses, retirement plans, and a life insurance policy. What about asset protection from creditor claims, special needs planning, trust administration, Florida probate and financial planning? You are not alone. Help is just a phone call away.

However, once you set up your solid estate plan, assets must be titled into trusts and periodically updated to reflect life changes such as marriage, birth of a new child, or divorce. If you already have one in place but neglected it for a few years, then it is time to resurrect your estate plan and review it with your attorney to account for all necessary changes, both personal and legal.

The best part is that estate planning is kosher and chametz-free. Sitting at the Seder table with the knowledge that you have provided for the future financial needs of you loved ones and ensured that your assets are ultimately distributed as you intend is a satisfying and rewarding feeling. After all, you never know when you will be having that Last Supper with your family. 

Time is never on our side so taking immediate action is a key ingredient to estate planning. Contacting your estate planning attorney not only gives you a peace of mind but also can reduce estate taxes for your family thus leaving them more and less to Uncle Sam.

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?