J. Kelly Kennedy, Attorney/CPA, PLLC

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Attorney and CPA

Tax season a good time to review estate plan in Florida

As the deadline for filing personal taxes looms, it is a good reminder to take a look at your estate plan. This is because tax laws and estate planning are intricately interwoven. One of the cornerstones of a good estate plan is to reduce tax consequences before the plan is triggered, as well as afterward so that the plan's beneficiaries are taxed in an overburdensome manner.

Many tax laws and rules change frequently. The recent tax overhaul resulted in many changes to the federal tax system. Minor changes to both state and federal tax laws occur on a near annual basis. It is important that estate plans are consistently updated to reflect these changes.

Not only do tax laws change, you change. Perhaps you had a child or changed residences or bought a boat. Life changes like these must also be accounted for in your estate plan, making an annual review of your plan a good habit to get into.

As experienced estate planning and tax attorneys, our firm can help you to understand the tax consequences of the various components in your estate plan. More importantly, we can help to reduce your - and your loved ones' - tax exposure through a thorough review of your current plan in light of current tax laws. Going forward, we can ensure that your estate plan is stay ahead of changes in state and federal tax codes, so that you and your loved ones don't experience any unpleasant surprises. Visit the estate planning page on our website to learn more about how we can help you.

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