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Tagged:tax law

Irrevocable Life Insurance Trusts Can Help With Taxes In Florida

October 24, 2012

When planning an estate it is best to have an overall financial plan that takes into account the consequences of tax law, especially estate taxation rules and regulations. There are many ways for Florida individuals to help their heirs maximize family inheritances, an important consideration in light of estate tax laws. One popular method is through the use of life insurance trusts.

When a person dies, many times his or her life insurance policies will be included in their estate….

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No Need To Procrastinate With Estate Planning In Florida

August 29, 2012

Many people are waiting until next year before dealing with planning their estate, since they do not know whether new estate planning laws will be in effect by next year. Some people in Florida with a higher amount of assets are uncertain how future laws will affect their estate planning decisions. However, one should not procrastinate on something as important as planning one’s estate. Despite the uncertainty in the new laws, there are some tasks which could be taken care of regardless of any changes to the estate tax laws….

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Real Estate Investment Trusts Can Help Avoid Corporate Taxes

August 15, 2012

A trust is a contract that specifies the terms in which a party is to control property or assets for the benefit of others, known as beneficiaries. The party or person in charge of the trust is known as the trustee. There are a variety of reasons and benefits to create trusts in Florida and elsewhere. One real estate company is attempting to reorganize itself into a real estate investment trust to avoid paying certain corporate taxes. Trusts can be a great way to protect assets from being taxed in certain ways as well as providing the trust holder control over the trust during his or her lifetime, and then a smooth transition of the property or assets in the trust to its beneficiaries after the trust holder passes….

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Democrats Drop Estate Tax Change That Would Also Affect Florida

August 1, 2012

When a person dies and the decedent’s assets are transferred to another party, those assets are subject to taxation. The estate tax has been under scrutiny by lawmakers for the past several years. Some politicians want to continue the tax breaks started during the Bush administration; however, the Obama administration is proposing to end the Bush-era cuts on the estate tax, which could affect many in Florida. Now, the U.S. Senate Democrats have decided to eliminate the estate tax language in the bill proposed by Obama….

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Estate Tax Planning Slowed By IRS Delays

October 20, 2011

Estate planning sometimes follows the loss of a loved one, adding to the difficulty in making important decisions. When there are governmental delays in sending out required estate tax forms, it essentially puts the state of estates in limbo. Such is the case for a Florida woman, who is confronting the necessary estate tax planning for the multi-million dollar estate of her late husband.

The Florida woman lost her spouse in early 2010. Together, the couple shared an $8 million dollar estate, but she is concerned over how much she will have left once she pays estate taxes to the IRS….

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