Marc J. Soss, Esquire Estate Planning, Business & Corporate & Probate Attorney

Estate Planning Adjustments for Tax Year 2020
With 2020 quickly approaching it is important to be aware of the changes you can expect. For tax year 2020, taxpayers will see their Federal Exclusion amount (and GST Exemption amount) increase to $11,580,000, from $11,400,000 (an $180,000 increase)....

The Internal Revenue Service has announced the inflation adjustments for the estate and gift tax exclusion, the generation-skipping transfer tax exemption, the gift tax exclusion, and other estate planning rates for 2020.

- The federal estate and gift tax exclusion amounts will increase from $11...

Check out this 5 star Google My Business review by Lori:
I called regarding a matter with my parents and Marc was very helpful.
See the review on Google

Prior to the Tax Cuts & Jobs Act of 2017</a> ("ACT"), a divorced spouse could deduct any alimony payments made to his former spouse. The former spouse had to claim the alimony received as income. The ACT eliminated this tax deduction effective January 1, 2019. The implementation of this change r...

CONNECTICUT IS THE LAST STATE WITH A GIFT TAX
Currently, the State of Connecticut holds the distinction of being the only state that imposes a gift tax. While the legislation was again proposed, which included a repeal of the Connecticut gift tax retroactive to January 1, 2019, and would have lim...

US SUPREME COURT RULES ON NORTH CAROLINA TAX ON TRUST BENEFICIARY
On June 21, 2019, the U.S. Supreme Court addressed the case of North Carolina Department of Revenue v. Kimberly Rice Kaestner 1992 Family Trust. The Court, in a unanimous decision, found that the State of North Carolina may not tax...

5 star Yelp review.: Marc Soss is a principled, knowledgeable attorney who knows his business who is going to tell it to you straight, offer excellent...

5 star Google My Business review. We recommend attorney Marc Soss as an excellent lawyer and litigator in trust and estate law in the Southwest Florida area

DO I REALLY NEED A WILL?
This is a question asked too often. Individuals that die without a Last Will and Testament (“Will”) fail to grasp how the Florida Probate process will control who administers their estate, the beneficiaries and the shares they will receive.

Personal Representative | Admi...