Caruso and Company is a
South Florida estate planning CPA firm
serving the Broward County and surrounding areas including Boca Raton,
Deerfield Beach, Pompano Beach, Margate, Delray Beach, Vero Beach and Melbourne. We help you plan the distribution of your assets after you die. Estate planning provides the legal means for disposing of property upon death in a way that recognizes your wishes and the needs of your survivors, while minimizing taxes.
Benefits of Estate Planning
One of the best benefits of estate planning is the ability to name your heirs, specify the share of your estate they will receive, and determine the manner and timing at which the heirs get their share. If you do not make any provisions for the distribution of your estate before you die, your estate will be distributed according to your state’s “intestate succession” statutes which provide for the distribution to your spouse and relatives in an order established by your state’s law.
Florida Estate Planning Laws
Caruso and Company is well versed in Florida estate planning laws and will help ensure that your estate and your wishes are carried out according to your plan. Our accounting firm offers much more than just CPA services, covering a full range of tax issues and financial planning. Our
South Florida estate planning services will ensure that the state does not decide how your assets are divided. This also helps save you thousands of dollars in court fees.
A common misconception is that only those individuals with money should have a will or should do estate planning. The federal government has a federal estate tax on estates over $1,000,000. Some states, however, require estates with over $30,000 in assets to go through probate courts, which can costs thousands of dollars and take years to settle.
Wills and Trusts
Estate planning can involve a will and/or trusts. A will is a legally binding document that addresses how your assets will be distributed at your death and also names an executor who will assist with the administration of your estate. A trust, unlike a will, has the benefit of avoiding probate – the process by which a court examines your will and declares it valid. A trust allows you to better plan your estate, especially if you own property in many states, have great wealth, and/or have many heirs.
Customized Estate Planning
Estate planning is a complex process, and must be customized for each person. Caruso and Company is a premier
South Florida estate planning CPA firm serving Boca Raton, Deerfield
Beach, Pompano Beach, Margate, Delray Beach, Vero Beach and Melbourne, specializing in this type of financial planning.
Contact us for a complimentary analysis of you needs.
Caruso and Company is a