Fort Myers Estate Tax Planning Attorneys
Helping Your Loved Ones Benefit the Most from Your Estate
When you’re preparing a comprehensive estate plan for your loved ones, it’s important to consider how taxes will play a role in your affairs after you pass on. The attorneys at Dorcey Law Firm are prepared to help you preemptively handle how taxes will affect your estate once you pass on.
What people often deem as an “inheritance tax” or “death tax” is actually a series of three taxes regarding the transfer of wealth from an estate to its beneficiaries. These taxes are the estate tax, gift taxes, and generation-skipping transfer taxes. Each tax can have important implications for you and your loved ones, which your estate tax planning attorney in Fort Myers can explain further.
What 'Portability' Means for You & Your Spouse
Consult with your attorney to find out how your estate plan and gifting can function under portability. Portability is a relatively recent concept in estate planning that allows a surviving spouse to inherit the deceased’s tax exemption without using “A-B Trust” planning. In order to qualify for this inherited exemption, however, you must file certain paperwork and meet other requirements. Speaking with our estate tax planning attorneys in Fort Myers can help you understand how portability can impact your estate plan.
Is Your Estate Eligible for Tax Exemptions?
While taxes may be a certainty in life and for many estates, there are four important exemptions that can apply to your situation:
- The federal estate tax exemption
- The lifetime gift tax exemption
- The annual gift tax exclusion
- The generation-skipping transfer tax exemption
The Lifetime Gift Tax Exemption
As of 2023, the lifetime gift tax exemption is set at $12.92 million. This means that over the course of your lifetime, you can gift this total value before a gift tax is triggered. For married couples, each spouse is permitted the $12.92 million limit, which means that together a couple can give away $25.84 million before a gift tax must be paid.
Experiences From Our Happy Clients
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I will say Dorcey Law Firm is amazing!!! I called on a Monday it was around 4:30pm so of course I didn't get a call back that day. However, first thing the next day I got a call from Carrie (So wonderful and so helpful) she put me on the calendar with Erica Johnson the following week. I have to give a RAVE review about Erica (She is fabulous, knowledgeable, understanding and communicates so well even if you ask the question more than once). When I first met Erica she was so professional and knew what she was talking about. I felt comfortable in her answers to my questions and was grateful I was scheduled with her. When you think attorneys you think all they will want is your money, this is not the case here at Dorcey Law. The price for the items I was asking for was reasonable and fair. The professionalism of the staff and Erica was by far some of the best service from a law firm I have every gotten. IM GLAD TO SAY I AM MORE THAN HAPPY WITH ERICA, THE GIRLS AT THE FRONT, CARRIE & JUST THE EXPERIENCE OVERALL!!!!! Huge THANK YOU!!!! If you ever need an estate lawyer call Dorcey Law!!!!- Brent M.
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“Mike Scott and his team of professionals regard every matter that comes through their doors as their own.”- Shane A.
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We had been looking for a law firm to help us with asset protection and revamping some trusts. We had met and worked with several lawyers but in the end were very disappointed. We happened to accept an invitation to meet Josh Dorsey and Michael Scott at a presentation of the company. We were extremely impressed and have been more than pleased ever since. They listened to our concerns and needs and devised a plan to meet all of them and explain additional documents that were extremely important. To this day, I am so thankful we are working with this firm and would highly recommend them.- Cynthia A.
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“We have referred a couple of relatives and friends to this office for some legal work. Attorney Erica Cohen did a perfect job, professional, fast and efficient.”- CW M.
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