Florida does not impose state taxes on Inheritance, estates, or gifts. Protect your hard earned assets and leave a lasting legacy for future generations and charitable causes.
Florida has a longstanding reputation as a favorable destination for retirees. Many people view Florida as a retirement haven because of Florida’s warm weather and easy going lifestyle. Florida is also an advantageous domicile for retirement in terms of protecting your hard earned assets, and ensuring that the younger generations of your family will be protected long into the future. Florida does not impose any state taxes on inheritance, estates, or gifts. However, it is important to realize that real property, and tangible personal property located in another state, may be subject to any estate taxes imposed by the state where the property is located. There are strategies an individual can use regarding out of state property, to ensure that such property is not subject to state inheritance or estate taxes. Transfers of assets during your lifetime to family, friends, colleagues, and charitable organizations are one way to limit tax liability and ensure your property will be used to enrich the lives of others.
If you are interested in how you can take advantage of Florida’s favorable estate and inheritance tax climate to your advantage and other Florida asset protection strategies, contact The Law Office of Ryan S. Shipp, PLLC (FL Asset Protection attorneys) to help you with your needs. Call us today @ (561) 699-0399 to set-up an appointment to come visit us at our Lantana, Florida office location.