Boyes, Farina & Matwiczyk

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Tagged: estate tax planning

Estate Tax Rules That Benefit Florida Residents

…At least once a year, it may a good idea to review estate planning rules and laws as they may change. For instance, the estate tax exemption has risen each year since 2011 with inflation. In 2015, the estate exemption is $5.43 million, which is a $90,000 raise since 2014. However, those who have made gifts in excess of the annual gift limit may have eaten into some or all of that exemption.

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New Inflation-Based Tax Changes May Ease Burden On Estates

…One big hurdle faced by Florida residents who are preparing estate plans may soon be lowered thanks to action by the federal government. According to financial reports, the government may be looking at inflation rates as they relate to the estate tax, which could mean lower taxes for heirs.

The threshold that is up for an increase is the federal income tax exemption.

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Special Use Valuation Can Be Key For Business Estate Tax Planning

…Death is something that nobody can avoid. Also, as the saying goes, taxes are just as inevitable as death in Florida or in any other state. On the other hand, there are some things that a person can do to minimize exposure to the estate tax. However, estate tax planning can take on a flavor of its own when it comes to business owners.

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Portability Made Permanent For Estate Tax Planning In Florida

…Wealth inequality has been rising rapidly in the United States over the last several years. This topic has also been a large part of the debate between lawmakers in Florida and other states on how to solve this problem. One solution — which lawmakers have devised has to do with changes to the estate tax planning laws — are designed to allow families who are not wealthy to reduce their tax burden.

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Estate Tax Planning And Beneficiary Designations Can Save Money

…Two of the most important aspects to an estate plan is minimizing tax liabilities and ensuring that intended beneficiaries receive an individual’s assets after death. Keeping informed about the most recent changes to estate tax laws is essential for anybody in Florida or across the country. This will help individuals to make the right decisions when deciding how to administer their estates.

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Waltons Use Estate Tax Planning To Keep Fortunes In The Family

…There are many reasons why the wealthiest families on the planet are wealthy. Although not every family has an extreme amount of wealth, sometimes families with more modest, yet considerable wealth, can learn something about maintaining their wealth for future generations by looking at what the world’s wealthiest families have done in terms of estate planning in Florida or in any other state.

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James Gandolfini Neglected Some Estate Tax Planning Strategies

…When planning an estate it is important to ensure that one’s intended beneficiaries receive one’s assets. However, another aspect to take into consideration is estate tax planning which can help minimize tax liabilities of the estate. James Gandolfini, who many in Florida will remember as a well-known actor, may have had other objectives outside of this essential part of estate planning which has, unfortunately, led his estate open to unnecessary tax liabilities.

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