Florida Estate Tax Attorney
What is an estate tax?
Some states require payment of an estate tax upon an individual's death. In the state of Florida, the estate tax was eliminated on December 31, 2004. Prior to its abolition, the estate tax - also frequently referred to as the "pick up," death, or inheritance tax - took a certain amount from a deceased Florida resident's total estate before the remaining assets could be transferred to an heir or disbursed among multiple beneficiaries.
The following includes important facts regarding estate, gift and generation-skipping transfer taxes effective January 1st, 2018:
In 2017, an individual could give or tansfer at death up to $5,490,000 without paying estate or gift taxes. Under the 2017 Tax Cuts Jobs Act, the amounts more than doubled for 2018, jumping to approximately $11,200,000 per person or $22,400,000 for a married couple. The amount that an individual may protect from the federal generation-skipping transfer ("GST") tax, a tax which is assessed when assets pass to grandchildren or the equivalent, will be increased to $11,200,000 per person under the Act.
Federal estate taxes are considered "voluntary," they can be avoided or eliminated with proper planning.
Need a lawyer for estate taxes?
Retain Howard J. Wiener & Associates, P.L. to help you preserve your assets for your loved ones to enjoy. Our firm can help you structure your affairs to ensure that your property remains free of tax liens and is protected from creditors.
Board-Certified Specialist in Palm Beach
Looking for an attorney for estate taxes in Florida? At Howard J. Wiener & Associates, P.L., our founding attorney is a board-certified specialist in tax law and has extensive experience serving Florida residents in various legal capacities. Attorney Howard Wiener has focused his practice on tax law, estate, and asset protection planning, making his firm the perfect choice if you are in need of protecting your assests from creditor attack and federal taxes.
Find out How We Can Help
With Howard on your side, you can enjoy peace of mind knowing that your family's wealth can be secured. Your property can be protected no matter what happens through the the use of Domestic and Offshore Asset Protection Trusts, including Inheritors Trusts. We proudly serve clients in Miami-Dade, Boward, Palm Beach and Martin Counties. Call our law firm today to schedule an appointment with our highly skilled tax attorney.