Posted by on Jan 11, 2017 in asset protection, estate planning, Probate, tax, Trusts, Wills |

Let’s face it – life requires insurance.  Cars crash, homes get flooded and people pass away. As morbid as this topic may seem it’s purely realistic and the best way to deal with it is to be prepared.  Most Americans fail to realize the importance of life insurance.  Once a loved one passes, they are likely to leave behind a variation of expenses such as a funeral bill, business expenses, or an unpaid mortgage.  These expenses can cause the surviving family to deal with an unnecessary financial burden and experience a great deal of stress.  Have no fear, life insurance is a great way to alleviate this stress!  Once your policy is coupled with the right estate planning technique you can walk away with peace of mind knowing that the family will be fully protected.

An Irrevocable Life Insurance Trust (ILIT) is an estate planning tool that is commonly used.  The ILIT will allow your family to continue to benefit from the life insurance policy without the hassle of a possible tax issue.  Great news, right?!  Here is how it works:  The ILIT transfers the benefit into the trust while you relinquish all control over the policy.  This relinquishment of control is required by the IRS to avoid possible estate taxes.  Doing this removes the life insurance policy from your estate and decreases any potential taxation the family may have faced.  Now, all that remains is an increase in overall asset protection for the family!

Considering creating an ILIT?  Be sure to first consider who you will designate as Trustee, the individual who will distribute the assets, as well as who you wish to designate as a beneficiary (can be a spouse, child or any other individual you deem appropriate).  The terms of the trust are up to you – you can choose how you wish the assets to be distributed but be certain you are happy with how it’s created because once in place the terms of the ILIT cannot be changed.

This estate planning technique offers tax free protection for the family.  Alleviate the potential financial burden your family could face by calling an experienced estate planning attorney today!

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?

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Posted by on Dec 8, 2016 in estate planning, Probate, Special Needs Trust, tax, Trusts, Wills |

You may have heard the term “basic.”  What does it mean to be basic?  If you like your pumpkin spice latte in a holiday cup or really anything mainstream or popular then you may be considered basic.  Being basic isn’t always a bad thing and having an estate plan in place may mean your basic too – well, not really but it should because being prepared should be more popular.  Unfortunately, the idea of estate planning doesn’t create the urgency to grab your phone for a quick selfie with your attorney and post to social media – but it should!  Instead of feeling all doom and gloom about the topic try to imagine the peace of mind both you and your family will feel from this positive experience.  Creating an estate plan should be at the top of everyone’s priority list because what can possibly be more important than planning for the future of yourself and your loved ones?

Whether your estate is large or modest, protecting it for future generations should be a priority.  Estate Planning is the process of deciding during your life how your property will be handled should you become incapacitated or how the assets will be distributed after you pass away.  The most popular estate planning tool for accomplishing this the Revocable Living Trust.  By creating a revocable living trust to hold your assets you are preventing your family from being subjected to the stressful and lengthy process of Probate Administration.  Instead, the assets will be distributed directly to the beneficiaries that you designate and according the terms of the trust that you created.  You can choose a different individual to manage your child’s assets until they have reached an age of majority, or any age that you deem appropriate.  The revocable living trust will also provide the beneficiaries with asset protection against any unsecured creditors they may encounter such as divorce, bankruptcy or litigation.

For full protection of our clients, we also included the following documents with your Trust based plan:

Last Will and Testament: Nominate your Personal Representative, choose a Guardian for any minor child, and add any burial or cremation requests.

Living Will:  Advanced directive or “pull the plug” document.  Allows your healthcare surrogate to give the doctor the “ok” to pull the plug if you are being kept alive by artificial means.

Durable Power of Attorney:  Nominate an individual to make financial decisions on your behalf or qualify you for public benefits, should you not be able to do so yourself.

Healthcare Surrogate & HIPAA Release:  Nominate an individual to access your medical records and make informed decisions on your behalf, should you not be able to do so yourself.

Being “basic” is more than ok when the popular thing to do is plan for your future.  Call the South Florida Law Firm of Wild, Felice & Partners today for your free consultation at (954) 944-2855.  For more information on Estate Planning or Revocable Living Trusts, visit our website at

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

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Posted by on Oct 24, 2016 in estate planning, Probate, tax, Trusts, Wills |

After 71 years the Chicago Cubs finally return to the World Series following a win this Saturday against the LA Dodgers. Some attribute this win to preparation and hard work while others think they just got lucky – either way, fans are ecstatic to see their team return to the World Series!

While the Cubs celebrated their big win on Saturday you could be celebrating a personal win today. Estate planning truly makes everyone feel like a winner by providing instant peace of mind in knowing you protected your loved ones against life’s unexpected surprises.  There are different plans for every individual. Whether your priorities are privacy, to save on taxes, plan a future for your children, protect your assets against liability or ensure that your legacy last for generations – our attorneys can draft a plan to meet your needs.  It’s also important to acknowledge that life changes every day and so should your estate plan. Once the plan is in place we recommend coming back in and meeting with an attorney every 3 to 5 years, or sooner if a major life change occurs (such as a divorce, marriage, remarriage with a blended family, birth, or death).

Allow today to be your winning day! Call today for your free consultation at ( 954)944-2855 and provide your family with ultimate protection.

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

For more information on successful Florida estate planning an asset protection techniques please visit our website at

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Are You Feeling Charitable?

Posted by on Oct 10, 2016 in asset protection, estate planning, Probate, tax, Trusts, Wills |

Some clients come to us wanting to give leave their assets to their favorite charity.  While some wish to leave all of it to a charitable cause others wish to leave certain properties or assets and keep the rest for their family.  Estate planning is such an amazing area of law with an array of vehicles that allow for experienced attorneys to plan for clients no matter what their needs may be.  Not only is there a trust that can accomplish this specific charitable goal but it can also provide tax deductions, asset protection and provide income for the lifetime of the Grantor- that’s you!  Meet the Charitable Remainder Trust.

The Charitable Remainder Trust is a great vehicle that will support your philanthropic side while continuing to provide for you and your family during your lifetime.  Here is how it works:  you as Grantor would transfer the property you wish to donate into the trust and designate a trustee.  Typically, the charity is designated as trustee and manages or invests your assets in order to generate some income.  You then will receive a percentage of the profits for a specific period of time that you choose -this will be laid out in the terms of the trust.  While these assets are held in trust they remain protected against unsecured creditors, allow you to earn a tax deduction and provide you with a lifetime annual income.  After you pass away, all of the assets that were held in the Charitable Remainder Trust, as well as any profits or residual interest that may have been generated, then become property of the charitable organization.  There really are no losers with this type of trust.  You win in a number of ways during your lifetime and then provide support to a charitable organization of your choosing upon your passing.  Everyone is a winner!

If you wish to protect your assets, save on taxes, provide for yourself and your family and then leave your legacy to a charitable organization then call us today for your free consultation at (954)944-2855.

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


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Posted by on Sep 19, 2016 in asset protection, Probate, tax, Trusts, Wills |

If you’re like most of us then your fantasy football draft parties have ended, your team is locked in and you’re ready to be glued to the screen every Football Sunday.  If you planned properly you just might win that money at the end and, more importantly, bragging rights.  Planning is crucial to success, both in football and in life.  As such, a successful estate plan will require some planning ahead. 

Whether you’re single, married, have children or don’t – you WILL benefit from estate planning.  Creating an estate plan means you remain in control over your assets even after your death.  When children enter the picture, you’re going to want to ensure that they are provided for.  Your estate plan will not only allow for your children’s financial needs to be met but will provide for their emotional needs as well. Every estate plan created provides full protection through the creation of seven documents: The Living Revocable Trust, Assignment of Property to the Trust, Last Will and Testament, Living Will, Durable Power of Attorney, Healthcare Surrogate, and HIPAA Release.  The Last Will and Testament is where you will appoint a Guardian to raise your child.  If you don’t want the guardian to have control over the child’s finances, then you can appoint a different individual for that task.  You may also lay out any specific cremation or burial requests and designate a Personal Representative in your Will.  Your Durable Power of Attorney will designate individuals to make important financial decisions on your behalf while the Healthcare Surrogate will appoint someone to make important healthcare decisions for you.  The plan is flexible and can be created to accomplish your specific goals.

Don’t delay.  Do plan ahead!  Take a break from your football obsessions and make an appointment to get your estate plan today.  Consultations are free and the peace of mind from preparing is priceless so call (954) 944-2855 to make your appointment today!


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Posted by on Aug 29, 2016 in estate planning, Probate, tax, Trusts, Wills |

Did you know that Florida has one of the worst Probate systems in our country?  Not only will a percentage of your assets diminish during the process but your loved ones could have to wait well over a year before receiving anything.  This is why it is important to understand the process and plan accordingly.

Probate is the legal process of proving a Will in court.  Unless you own assets jointly (which will pass by operation of law) or have a Will substitute in place (such as a Revocable Living Trust) all of your assets must go through the Probate process.  The type of probate administration that will be required will be determined by the size of your estate.  An estate that is worth less than $75,000 would require a Summary Administration.  This type of administration is less costly to your family but could still take up to a year to complete.  If your estate exceeds $75,000 in assets, then a full probate administration will be necessary.  A full administration could very well last for over a year and can be very costly.  Your family may be faced with extreme financial burden and stress during a time where they should be focused on healing.

Probate offers no real benefit to the family members that are left behind.  Instead, it can cause a great deal of stress which is why you should consider avoiding it all together.  Probate avoidance can be accomplished in a number of ways.  As previously mentioned, any assets that pass by operation of law will not be subjected to probate.  This would include property held as husband and wife, property held as joint owners with the right of survivorship, accounts that are held jointly and so on.  One of the more popular ways to avoid probate is through the creation of a Revocable Living Trust.  All assets held in trust will avoid probate and pass directly to the listed beneficiaries.  A trust has additional benefits too, such as setting limitations on when your beneficiaries will receive their share.  It allows for you to have control from beyond the grave, avoid probate and could save you on estate taxes.

Be proactive and eliminate the possibility of probate from your future.  Call the office of Wild, Felice & Partners today for your free consultation at (954) 944-2855.

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

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

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