To make matters more confusing, states are not bound by the federal inheritance tax limits, and some states have lower or higher limits than the IRS. States also differ in the types of taxes they assess on various properties. A condominium may have taxes assessed differently from a single-family dwelling; vacation property may be rated on a different scale than residential property.

If you own property in more than one state, it would pay to have a competent estate-planning attorney look at your assets and advise you as to the best way to shelter your property from taxes. Most attorneys are licensed in only one state; however, your estate-planning attorney may be licensed in more than one state, especially if you are in an area where state boundaries are close. If he or she is not licensed in more than one state, it is easy to incorporate the counsel of another attorney in the estate planning strategy for solid advice and feedback. Whatever you and your attorney decide, it is imperative to get sound advice about the tax laws in each state where you own property, in order to protect all your investments.

You should also keep in mind that if you have heirs who live outside of your state, your attorney should be aware of this so that he or she can look at the laws of that particular state. States can and do assess inheritance taxes on out-of-state heirs, and there may be tax consequences in the heir’s home state as well.

There are ways to shelter your property, such as trusts. An estate attorney can help you decide which options are best for you.

This article is not intended as legal advice. Only an estate planning attorney can give you information tailored to your individual situation.

Death is something no one looks forward to. But careful estate planning and making a Will, removes much of the uncertainty and fear that is associated with death.

Make a Will

Although it is certainly possible to distribute all remaining assets to qualified heirs, it is a process that takes some reasonable time to resolve. If a person dies without a will, the state provides laws and guidance on how this is distributed. Executing a Will however, provides a speedier process where you could make your wishes be better known.  

Consult with a Lawyer

There are simple things to remember whenever you want to execute a Will. Talking with an attorney can help you make a Will that not only expresses your desires but also something that could stand up in court. Laws regarding Will’s and transfer of property in the event of death may vary from state to state or your location. Only a licensed legal practitioner or lawyer could help you understand what laws apply to your area. When getting a witness, always remember that they should not be included as beneficiaries in the Will.

Understand the simple mechanics involved in Estate Planning

There is lots of information regarding Estate Planning available thru books or different websites. This can give you an overview on simple concepts involved in Estate Planning. Talking to a financial adviser or attorney who specializes in Estate Planning could also provide you with invaluable information in making those first steps.

Organize all documents

Death can come at anytime. It is far much wiser that if you have reached legal age or currently working, making a Will and Living Will is a prudent approach to life’s uncertainties.

Update all documents

As years grow by, your estates may grow or diminish. A will should always reflect the current state of your estate. A Will done when you were single may not be detailed enough to include your present status. Changes in your relationships such as the birth of a child, divorce or changes in residency affects the Will.

Information and resources on Probate Law at Public Attorney Adrian Philip Thomas website, legal offices at Fort Lauderdale, Florida