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Article: The ins and outs of the Florida estate tax.
- Article from:
- Florida Bar Journal
- Article date:
- January 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Florida Bar. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Lawyers regularly are asked to deal with property owned by a decedent, and to help clients' estates comply with the Florida estate tax. In 2001, Congress enacted and President Bush signed into law the Economic Growth and Tax Relief Reconciliation Act of 2001 (Pub. L. No. 107-16) (the "tax act") (1) which directly affected the Florida estate tax. The new estate tax law changes the responsibilities of personal representatives of estates under both federal and Florida law.
This article will discuss which decedents are subject to the Florida estate tax. Also, the article will explain a personal representative's responsibilities and describe how the tax act changed ...