The Oscar nominees for the 86th Academy Awards are in,  including Cate Blanchett, Sandra Bullock, Meryl Streep, Christian Bale,  Leonardo DiCaprio, and Matthew McConaughey. There’s no denying that these nominations do not come to a surprise to anyone, beyond the GEICO caveman living under a rock. While the Academy Awards provide us with the expected, it is unlikely that life will follow suit; as the unknown future is full of surprises.

Fortunately,  there are plans you can set in place to ensure that you maintain control in the event of life’s unexpected surprises. The following 5 documents can be incorporated into your estate plan, to allow you the same comfort and control that you had in predicting the preceding nominees:

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. Assignment of Property – this is exactly that, assigning your property to your trust. In other words, placing your property into the trust. This includes both real & personal property. A trust does not do anything for you if there is no property in it.

3. 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.

4. 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.

5. 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 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

The White House has announced that Obamacare will cover breast cancer prevention drugs for women who have an increased risk of breast cancer due to age, family history or other factors. Such “chemoprevention” drugs will be covered without a co-pay or other out of pocket expense to the patient. This change has resulted from a recommendation from the U.S. Preventative Task Force, composed of independent volunteer physicians and academics, for the exact purpose of recommending which preventive services to offer patient. These preventive methods are much like estate planning, as risks are evaluated to determine what plan is necessary to mitigate or prevent an undesirable result. If you are at “risk” for 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. Assignment of Property – this is exactly that, assigning your property to your trust. In other words, placing your property into the trust. This includes both real & personal property. A trust does not do anything for you if there is no property in it.

3. 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.

4. 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.

5. 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.

While you often cannot prevent incapacitation or death, you can always be prepared for it! 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?S

From the beloved Nelson Mandela all the way to Hitlers bodyguard, this year has waived farewell to a long list of notable deaths. As this year takes its exit, let’s look back on some of those who took their final bow in 2013:

• Charles Foley, age 82 – an inventor most well known for Patent No. 3,454,279, aka “Twister,” the innocent game of compromising positions.
• Bruce Reynolds, age 81 – the criminal who was the mastermind behind the 1963 “Great Train Robbery,” which was Britain’s largest robbery at the time (about 41 million pounds). He successfully ran for 5 years, until he was caught to serve a 25 year sentence term. Ironically enough, following his release, Reynolds lived off of income support in a London flat supplied by a charitable trust.
• Deacon Jones, age 74 – the defensive end in the NFL., best known for coining the term “sack,” as in “sacking the quarterback.” A maneuver in which he excelled.
• Chris Kelly, age 34 – the rapper of the ’90s kid rap duo Kris Kross. Kelly was known as Mac Daddy, and best known for the megahit “Jump.”
• Rochus Misch, age 96 – also known as Hitler’s bodyguard. Although he persistently denied having any knowledge of the millions of deaths caused by the Nazis,  he was reportedly “the most unrepentant and unapologetic Hitler supporter you could ever have the misfortune to meet.”
•  Sylvia Browne, age 77 – click here.
• Nelson Mandela, age 95 –  a inspiration to millions who sought to end the oppression of more than four decades of institutionalized racial segregation. After being imprisoned as a terrorist for 27 years by a white-minority government, he united his African nation to its first multiracial democracy. He served as the country’s first black president, becoming a national emblem of racial reconciliation throughout the world.

The best take away from this year, as demonstrated by the preceding names, is to plan ahead for the unknown. You never know when your exit will take place, all you can do is have the following documents in your estate plan:

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. Assignment of Property – this is exactly that, assigning your property to your trust. In other words, placing your property into the trust. This includes both real & personal property. A trust does not do anything for you if there is no property in it.

3. 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.

4. 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.

5. 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 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

Just when we were about to lose faith in our government, Congress finally settled on a deal that ended the infamous 16-day shutdown. The good news – there will be no default on the national debt. The bad news – American’s are not very fond of Congress. In a poll from Public Policy, Congress’ approval ratings were compared to a variety of those of the less desirable kind. The following won over Congress : hemorrhoids (53%-31%), jury duty (73%-18%), toenail fungus (44%-41%), cockroaches (44%-42%), the IRS (42%-33%), the respondents’ mothers-in-law (64%-20%), potholes (47%-36%) and zombies (43%-37%). However, congress did have better approval ratings than Russian President Vladimir Putin, former congressman Anthony Weiner, Lindsay Lohan, and Honey Boo Boo.

If you, like the respondents in the above poll, are not so fond about the idea of leaving your future in someone else’s hands – the following five estate planning documents will ensure that your future-planning receives a better approval rating than the cockroaches and zombies.

1. Living Trust – a living trust has become increasingly desirable due to its ability to avoid probate (the legal process of determining whether a will is valid). If you are married, you may want to designate yourself and your spouse as co-trustees, so that you have full control over the property while you are still alive. Side Note: such control does have tax consequences, so you will want to discuss this with your estate planning attorney.

2. Assignment of Property – this is exactly that, assigning your property to your trust. In other words, placing your property into the trust. This includes both real & personal property. A trust does not do anything for you if there is no property in it.

3. 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.

4. 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.

5. 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 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

Jon “Bones” Jones & Alexander “The Mauler” Gustafsson  go head-to-head this upcoming Saturday, where Jones will  attempt to take the UFC record for consecutive lightweight title defenses. Gustafsson, however, has won six straight fights, and is on a role. In this history-making matchup, who will succumb to defeat? Jones is known for his double-leg takedown, while Gustafsson has stopped 84% of the takedown attempts he’s faced.

Each fight plan is incorporated as a means of constructing a distinct strategic advantage, & the same is true for wealth management and asset protection plans. While a Last Will & Testament is an essential component of any winning fight plan, it is often necessary to tackle your goals with the incorporation of a Living Trust. Look to the following fight plans to determine which supplies the best hooks & double-leg’s for your asset protection goals.

Will & Last Testament Fight plan: Control of Your Assets

A Will is crucial in any estate plan. This is the document that will be used to determine your intent regarding the distribution of your property. Thus, without it, all of your assets will be distributed according to State statute, which may be a departure from your own personal wishes. Furthermore, if you have any minor children, you can designate a legal guardian, thereby communicating your wishes to the court when the time comes for a guardian to be appointed. As you can see, this is the foundation of your game plan.

Will Coupled with Trust Fight Plan: Control & Protection of Your Assets

This fight plan combines your testamentary wishes with further protection by having the Will pour-over into a Trust. The will coupled with a trust effectively bypasses probate, which is the validation of the will — a process that is often incredibly time consuming and often expensive. The pour-over will takes all of the property that passes through the will, and funnels it into the trust. Said property is then distributed to the trust beneficiaries pursuant to the terms of the trust. A pour-over will functions to ensure that all of the decedent’s property is transferred to trust. Think of the pour-over will as a safety net that catches all of the assets that were not properly transferred into trust. All the contents of the net are then poured into the trust, ensuring that all of the property is ultimately distributed through the living trust. Furthermore, all of the decedent’s property is distributed by the terms of one document alone (the trust), allowing for simplicity and clarity.

You need a Last Will & Testament in every takedown; however, combining it with a Living Trust may be one of your most important strategic advantages! 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?

E! News reports the a recent celebrity catastrophe, stating that British Airways scheduled both Angelina Jolie & Jennifer Aniston for the same flight from Los Angeles to London on Sunday. Shock! Horror! Although the airline managed to participate in some quick crisis mitigation, it begs the question: if the universe will allow Jolie & Jen to randomly schedule the same flight, what unexpected misfortune rests in the Gods of tomorrow?

If there is any moral to this story, it is to plan ahead. If you died tomorrow, or became incapacitated, would you have the following benefits?

• asset protection
• control over your assets
• protection for your loved ones
• preclusion of unnecessary taxes
• creditor protection
• limited/no transfer taxes for following generations

If the answer is no,  the following 5 documents will ensure that you are prepared for any unexpected misfortunes that may lay ahead!

1. Living Trust – gain control, asset protection, & preclusion of unnecessary taxes;  designated a trustworthy (no pun) Trustee.
2. Assignment of Property – place all of your property into the trust, and avoid costs & headache associated with probate.
3. Last Will & Testament – used to distribute property to beneficiaries (or a trust), specify last wishes, and name guardians for minor children.
4. Durable Power of Attorney – gain control by designating someone to legally act on your behalf, in the event that you become incapacitated.
5. Combination Living Will & Designation of Healthcare Surrogate – gain control by making important healthcare decisions for yourself in advance.

Learn from the misfortunes of these celebrities, and plan ahead! 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

South Florida Estate Planning Attorney, Michael Wild, shares horror stories of those who failed to plan ahead!