If you have been named as the executor of the estate of a friend or family member in Miami, then one of the first things that you should consider are the tax considerations of the assets you are now in charge of. This requires becoming familiar with the IRS Form 706....
Estate Tax
Determining your taxable estate
Many people often come to us here at The Law Offices of Frye and Vazquez, P.L. concerned that much of what they have to leave to their spouses, children, and/or grandchildren will be taken through estate taxes. If you share this same concern, you should know one...
Filing an estate tax return extension
As the executor for the estate of a family member or friend in Miami, the one area that may cause you the most trepidation is dealing with the having to pay estate taxes. Those who come to us here at The Law Offices of Frye and Vazquez, P.L. with their tax questions...
Avoiding estate taxes after a life insurance payout
Many in Miami may be counseled on the wisdom of taking out a life insurance policy to help ease the financial burden their loved ones may feel when they die. One of the more attractive aspects of a life insurance policy are the perceived tax advantages it offers,...
What is your estate tax obligation in Florida?
As you become involved in estate planning in Miami, you may begin to see more and more references being made to estate taxes. Most often, this is in reference to the federal estate tax, which you only pay if the taxable value of your estate exceeds the federal...
Paying the estate tax
Many in Miami who are parties to the estates of their loved ones come to us here at The Law Offices of Frye and Vazquez, P.L. concerned about having to pay an estate tax. Most are relieved to hear that few are actually required to pay this tax, as most estates do not...
Understanding the marital deduction
Many in Miami may never have to worry about the issues of estate taxes. That is because the law allows an individual an estate tax exemption equivalent. Often referred to as the estate tax threshold, this figure represents the amount that one may leave to the...
IRS announces proposed rules to collect more estate tax
Estate planning is about much more than deciding how your assets will be distributed upon your death. It also involves a considerable amount of financial planning in order to maximize the value of your estate.For instance, many people take into account estate tax...
Protecting beneficiaries from the dangers of sudden wealth
People often dream of winning the lottery, inventing the next million-dollar idea and stumbling into fame and fortune on reality TV competitions. But the truth is people don't have to do any of these things to have sudden wealth fall into their laps; they just need a...
Are you considering some long overdue estate planning in 2016?
Now that 2016 is finally here, many people are busy implementing and adjusting to their New Year's resolutions. For instance, they may be in the early stages of quitting smoking, altering their eating habits or getting in shape.It's important to note, however, that...