Is there a limit to the amount of estate taxes owed on an intestate estate?

Yes, there is a limit to the amount of estate taxes owed on an intestate estate in Florida. Under state law, the estate must not exceed a certain value in order to qualify for exemption from estate taxes. The exempt amount in Florida is known as the “unlimited marital deduction.” The unlimited marital deduction exempts the value of certain assets that pass from a decedent to a surviving spouse from taxation. In Florida, the amount of the deduction is limited and is based on the amount of the intestate estate. The exemptions provided under the unlimited marital deduction are calculated based on the total value of the intestate estate remaining after payment of all debts. In addition to the unlimited marital deduction, Florida also offers other exemptions from estate tax. These include a homestead exemption from taxation, an exemption for certain cash and investments, and an exemption for certain qualified retirement plans. Therefore, while there is a limit to the amount of estate taxes owed on an intestate estate in Florida, there are also a number of exemptions available that can help to reduce the amount that must be paid. If you have questions about the taxes owed on an intestate estate in Florida, it is best to consult with an experienced attorney who can advise you regarding your individual situation.

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Is there a limit to the amount of estate taxes owed on an intestate estate?

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