Does the size of an intestate estate matter?

Yes, the size of an intestate estate does matter when it comes to Florida’s intestate succession law. This is the law that governs what happens to an individual’s assets when they pass away without a will. The size of the intestate estate will determine who receives the asset and how much each individual is entitled to. The size of the estate also affects how much paperwork needs to be completed in order to process the estate. If the intestate estate is valued at up to $75,000 then only a simplified procedure can be used. If the estate is larger than $75,000, then more paperwork will be needed. Additionally, the size of the estate can affect the amount of inheritance tax that is due. In Florida, if the intestate estate is valued at $2,000,000 or less, then there is no inheritance tax due. However, if the estate is valued at more than $2,000,000 then a tax must be paid. This is because the state of Florida imposes inheritance taxes on estates valued at more than $2,000,000. In conclusion, the size of an intestate estate does matter in Florida’s intestate succession laws. This is because the size of the estate affects the amount of paperwork that must be completed and the amount of inheritance taxes due. Additionally, the size of the estate can determine who is entitled to receive the asset and how much each individual is entitled to receive.

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Does the size of an intestate estate matter?

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