Florida residents pay attention to tax issues, and like people elsewhere, they tend to believe that tax planning is the main reason for making an estate plan. The recent Tax Cuts and Jobs Act of 2017 continued the trend in recent years to increase the exemptions available under the federal estate taxes. Most people will therefore have no federal estate tax burden going forward once the new law becomes effective. Some people believe that this fact eliminates the need for estate planning but that is simply untrue.
Can Social Security provide for my loved ones when I’m gone?
You may think of Social Security as something that only provides for you in retirement. However, if you die prematurely, Social Security can also function as a sort of life insurance policy for you loved ones. In fact, the benefits can be significant.
