The larger your family, the more complicated your will. This is particularly true of your assets are over the estate tax threshold for your state. Although Florida has no estate tax, you will still need to file a federal estate tax return if you have an estate valued over $5,490,000 (in 2017, it may go up in future years).
There are times when a Broward-Palm Beach-Dade TriCounty FL estate planning lawyer with sufficient knowledge of estate taxes can assist you in lowering your estate value below this threshold through the use of trusts and gifts. This can b very important to your loved ones and will allow you to pass more wealth down.
When the threshold is not reached, having a will is still important particularly if you have items that you aren't willing to pass on to a spouse or a child - because if you lack a will, the state is going to make all the choices according to a stringent set of rules.
Thus, if you sister wants the grand piano, a will will ensure that she gets this. This is also true if you have step-kids that you haven't adopted legally but still want to provide for.
You can work with a reputable estate planning lawyer to create a document that is in line with your goals and allows for the seamless transfer of your items. When estates have incredibly high values, a lawyer can assist with estate administration, probate and the filing of taxes.
Anyone who has a good amount of money and a large or complicated family should make a will. This means you should contact an estate planning lawyer for proper, trained advice on the best way to handle things. The choice of a lawyer is an important decision and should not be based solely upon advertisement.
There are times when a Broward-Palm Beach-Dade TriCounty FL estate planning lawyer with sufficient knowledge of estate taxes can assist you in lowering your estate value below this threshold through the use of trusts and gifts. This can b very important to your loved ones and will allow you to pass more wealth down.
When the threshold is not reached, having a will is still important particularly if you have items that you aren't willing to pass on to a spouse or a child - because if you lack a will, the state is going to make all the choices according to a stringent set of rules.
Thus, if you sister wants the grand piano, a will will ensure that she gets this. This is also true if you have step-kids that you haven't adopted legally but still want to provide for.
You can work with a reputable estate planning lawyer to create a document that is in line with your goals and allows for the seamless transfer of your items. When estates have incredibly high values, a lawyer can assist with estate administration, probate and the filing of taxes.
Anyone who has a good amount of money and a large or complicated family should make a will. This means you should contact an estate planning lawyer for proper, trained advice on the best way to handle things. The choice of a lawyer is an important decision and should not be based solely upon advertisement.
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When you are looking for the facts about a Tri-County Area FL estate planning lawyer, come to our web pages online today. More details are available at http://www.trustwallach.com/ now.
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