If an elderly relative died and left behind significant assets, the estate taxes the federal government claims may be surprisingly high. Depending upon the amount of assets, as high as 40 percent may go to taxes.
If you have been appointed the family representative or executor responsible for final administration of a decedent’s estate in Central Florida, your first consideration should be reducing the amount of death taxes, as well as estate and trust income taxes.
I am attorney Michael G. Horton and I can help.
Tax Planning For After Death — It’s Not Too Late
In 1975, my father began serving those located throughout Central Florida, helping to develop sound estate planning for those worried about tax liabilities. Today, I carry on his legacy and assist families seeking to reduce their estate tax burden through effective post-death tax strategies.
I can assist with testamentary (post-death) trust administration, tax returns Form 1041 following the death of an estate holder, as well as Form 706 generation-skipping transfer of assets.
After reviewing your family’s circumstances, I can discuss additional options that may still be available to you, to avoid unnecessary taxes by:
- Electing the proper tax year
- Electing to combine the estate and trust tax returns
- Timing payment of estate expenses to reduce or eliminate taxes
- Trust administration