Florida’s Estate Tax Advantage

A dozen states plus D.C. impose their own estate taxes, some kicking in at thresholds well below the federal exemption. Florida is not one of them. If you’re domiciled here, the only estate tax you’re dealing with is the federal one, which currently applies to estates exceeding roughly $13.6 million per individual (or about $27.2 million for married couples using portability).

Florida’s homestead exemption adds another layer of protection. Under the state constitution, your primary residence is protected from forced sale by creditors (with some exceptions) and receives favorable property tax treatment. For estate planning purposes, homestead property also has special descent and devise rules that can override what’s in your will — which is something a lot of Miami property owners don’t realize until it’s too late.

Estate Tax Planning Services

• ◆
  Federal Estate Tax Projections — Estimating your potential estate tax exposure and modeling scenarios to reduce it through gifting, trusts, and other strategies.
• ◆
  Lifetime Gifting Strategies — Using the annual gift tax exclusion and lifetime exemption to transfer wealth to heirs during your lifetime, reducing the taxable estate.
• ◆
  Trust Tax Returns — Preparing Form 1041 for irrevocable trusts, grantor trusts, and other fiduciary entities used in estate planning.
• ◆
  Portability Election — Filing the estate tax return for a deceased spouse to preserve the unused exemption amount for the surviving spouse.
• ◆
  Homestead Planning — Coordinating with your estate attorney to ensure your homestead property passes correctly under Florida’s descent and devise rules.
• ◆
  Charitable Planning — Structuring charitable remainder trusts, donor-advised funds, and qualified charitable distributions to reduce estate and income taxes.