Surely we are all familiar with the old adage “Carpe Diem.” This popular Latin phrase translates into “seize the day,” “live life to the fullest,” or “live each day as if it were your last”. But what does it exactly mean to live the day as if it were your last? Tim McGraw probably best summed it up in his heart-felt hit song “Live Like You Were Dying.” He would go skydiving, rocky mountain climbing, ride 2.7 seconds on a bull named Fumanchu, love deeper, speak sweeter and give forgiveness he’d been denying.

Most people however would not stop to consider what would happen to the people they would be leaving behind. In other words, how to reach out to their loved ones by making sure they are fully protected. It’s bad enough your family members will be in mourning and grieving your death after you are gone. The last thing you want to do is subject them to serious financial consequences because you didn’t get your estate in order.  With the help of a caring and well-seasoned attorney, you will be able to best structure your assets while minimizing estate related taxes and protecting your loved ones from claims of third party creditors.

There is a medley of estate planning tools that you can choose ranging from Trusts, Wills, Powers of Attorney to Health Care Surrogates.  A qualified and well-experienced attorney will guide you through the process and equip you with these necessary tools so you can rest assure your family is well protected after you’ve finished living your life to the fullest. So the next time you are contemplating jumping out of an airplane, think about your family first. After all, you only get to die once…so seize it the right way.

For more information on successful Florida estate planning and probate, please contact the South Florida law firm of  Wild Felice & Pardo, 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?

Surely, Steve Job’s death came as a shock to us all when he past away last week. The CEO of Apple Inc. was just 56 years old. He left behind his wife, son, and 3 daughters. His net wealth was estimated to be in the billions.

We all know Jobs was a perfectionist in his business pursuits. He continuously sought new ways to strategically position his products by foreseeing and setting innovative trends in the industry of technology. He was meticulous at managing and protecting both his business and private affairs. Jobs once said “It comes from saying no to 1,000 things to make sure we don’t get on the wrong track… it’s only by saying no that you can concentrate on the things that are really important.” It would come as no surprise that one of the 1000 things that Jobs said “no” to was the prospect of leaving his family without the protection of an estate plan. He most likely foresaw the need to get his assets in order so that the most important people in his life, his family, would be sheltered from the legal and financial burdens arising from endless courtroom proceedings and hefty estate taxes. Since Jobs liked to keep his personal life out of the public eye, he probably established a trust to maintain the privacy of his assets and its distribution to his family. His loved ones may very well be lucky enough to avoid traditional probate and public scrutiny. We will probably have to wait for the next few months to find out what will transpire with Job’s multi-billion dollar estate, that is, if we ever do.

We should all follow Job’s lead. Protect your family and get your estate in order today. It’s time to get…as Apple Inc. once said “Wildly innovative”.

For more information on successful Florida estate planning and probate, please contact the South Florida law firm of Wild Felice & Pardo, 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?

Benjamin Franklin said there were only two things certain in life: death and taxes. He was absolutely right. But he forgot one more important thing…probate! It is of vital importance that survivors of a deceased person understand what probate means, the procedures involved, and the legal ramifications of their decisions, which is why everyone should take the time to sit down with a South Florida Probate Attorney.

Probate is the legal process employed by probate courts in identifying the assets of a decedent, paying off any existing debts, and distributing assets to the beneficiaries of an estate. This process is triggered by presenting the decedent’s death certificate. Although there is no set time frame for the entire probate process, survivors of a decedent can generally expect the process to last at least 6 months. However, depending on the complexity of the estate, it can take many years before probate is resolved. One can also expect to be in the frequent presence of a judge, attorneys, the executor of the deceased’s will, health care providers, the IRS if any taxes such as estate or income are owed, and credit card companies if there are any outstanding debts. This can seem like a daunting process no one wants to be a part of.

There is hope. This situation can become less painful by choosing a law firm you can trust to help you navigate through this complicated process in an efficient and simplified manner.  An attorney will ensure your will is properly written and executed and help you establish a trust that fits your needs. You will receive guidance on gifting and property transfers that will save your family a headache by the possibility of almost avoiding probate altogether.

For more information on successful Florida estate planning and probate, please contact the South Florida law firmof Wild Felice & Pardo, 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?

There is more involved in selecting the right executor to execute a will then is commonly thought. The ‘chosen one’ is delegated the responsibility in administering a will through the South Florida probate process, a court process that involves accounting for assets, paying bills, and distributing property according to the decedent’s wishes. Personality is everything. The ideal candidate is someone who is trustworthy and willing to take on a role that demands a high tolerance for rules, formalities, and of course, tedium. This task is not for the faint at heart. The probate process can take years, especially for bigger and more complicated estates. The executor must be mentally prepared to play the middle role in the inevitable situations of disputing heirs. This means, more trips to the courthouse and more legal proceedings.

The ideal executor should also keep up to date with news on tax law and investments.  Monitoring progress and overseeing that everything is done according to plan is no task for amateurs. It is also a good idea to confront the person that’s anticipated to take on the job. That way, the ‘executor to be’ can consider whether he or she will be able to fulfill the role successfully and meet expectations of the ‘decedent to be.’ If there is a conflict of interest, there is still a pool of candidates to choose from. The last thing someone wants is Grandson Bachelor looking like a deer in headlights when he realizes he is now solely responsible for managing and distributing the assets in Granny Smith’s estate when all he can think about is the next Mardi Gras or Oktoberfest. Although family members are usually appointed as executors, it is important to make the selection carefully and wisely; otherwise someone might be turning in their grave. Don’t be the victim of an executorship gone bad.

For more information on successful Florida estate planning and probate, please contact the South Florida law firm of Wild Felice & Pardo, 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?

Did you know that U.S. Chief Justice Warren Burger typed up his own will with a total of about 175 words? His estate was forced to pay in federal estate tax, 25% of his $2 million assets. Leona Helmsley, “Queen of Mean” left her $12 million trust to care for Trouble, her beloved Maltese. Marlon Brando changed his will just 13 days before dying. Jimi Hendrix left an estate that was fought over more than thirty years after his death. Martin Luther King, Jr. never drafted a will.  You don’t need to join the ranks of the rich and famous to consider estate planning. What you do want to do is prevent leaving your legacy behind subject to estate battles. The great thing about public figures is that you can learn from their mistakes, especially when it comes to the intricate processes of planning your estate.

For one thing, don’t skip out on a will. A will grants you the right to appoint an executor, or personal representative to pass on your assets to the people you want your assets to go to. You can designate the right person to care for your minor children in the event you die. If you do not take the time to have a will drafted, state law, through the process of probate, will determine who gets your assets and who will be appointed guardian of your children. Rest assured, your wishes will never be fulfilled.

Save yourself the mistake in not seeking professional and valuable legal advice. You run the risk of encountering many problems in the legal system with do-it yourself wills that you may find online or from a print source. Don’t be the victim of bad advice that a stranger or even your best friend might give you.

When should you create your will and trust? The answer is now.  Don’t be your own worst enemy when it comes to time. Worst yet, don’t be your family’s own worst enemy. In the words of James Taylor, “Time will take your money, but money won’t buy time.” You want to be sure your assets are in the hands of a knowledgeable, well-experienced attorney you know you can trust to help you adequately prepare for your estate.

For more information on successful Florida estate planning and probate, please contact the South Florida law firm of Wild Felice & Pardo, 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?

Over the next three weeks, South Florida estate planning attorney Michael Wild will be the guest speaker at the following presentations:

September 7

Michael Wild will be speaking to a group of 50 accountants at SunLife stadium at the FICPA’s quarterly meeting.  The presentation will revolve around foundational trust-based estate planning and the more common estate planning mistakes.

September 14

Michael Wild will be speaking to a group of 60 attorneys, CPAs and financial advisors at Broward College about the fundamentals of quality estate planning and asset protection techniques.  The presentation will be followed by a happy hour at YOLO sponsored by Mr. Wild.

September 21

Michael Wild will be the guest speaker at the Planned Giving Council’s monthly breakfast meeting.  The topic of discussion will be “Marketing to the Selfish Donor” and Mr. Wild will be providing a room full of non-profit organizations with key marketing and fundraising tips.  The meeting will be held at the Tower Club.

For more information, or to attend any of the above presentations, please contact Michael Wild at mwild@wfplaw.com and for more information on successful Florida estate planning and probate, please contact the South Florida law firm of Wild Felice & Pardo, 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?