Saving Estate Taxes During Administration
If you’re involved in an estate administration or a Florida probate, you’re going to be mindful of estate taxes. We all know that President Obama a couple years ago signed a new tax bill that permits people to leave about $5 million worth of their wealth free of estate tax. But what do you do when an estate exceeds that? Well, during the estate administration process, you should get involved. You want to hire good tax counsel to work closely with your probate lawyers to make sure that you make the most of your deductions and credits. If you don’t take advantage of those, you could be leaving a lot of tax dollars on the table.