Estate Tax Rules That Benefit Florida Residents

At least once a year, it may a good idea to review estate planning rules and laws as they may change. For instance, the estate tax exemption has risen each year since 2011 with inflation. In 2015, the estate exemption is $5.43 million, which is a $90,000 raise since 2014. However, those who have made gifts in excess of the annual gift limit may have eaten into some or all of that exemption.

In 2015, individuals can give gifts of up to $14,000 per person without having to pay taxes or report the gift to the IRS. While the gift…