The Hollywood Affidavit of No Florida Estate Tax Due is a legal document used in the state of Florida to establish that no estate tax is owed upon the death of an individual. This affidavit is often required as part of the probate process to certify that the deceased person's estate falls below the threshold for Florida estate tax liability. When a person passes away in Florida, their estate may be subject to taxation if its value exceeds a certain threshold. The threshold for Florida estate tax liability varies depending on the year in which the individual passed away. However, if the total value of the estate falls below this threshold, no estate tax is due, and the Hollywood Affidavit of No Florida Estate Tax Due can be filed. The purpose of the Hollywood Affidavit of No Florida Estate Tax Due is to provide evidence to the court and relevant authorities that the estate does not meet the criteria for estate tax assessment. This document is typically prepared by the personal representative or executor of the estate and must include all necessary information such as the deceased person's name, date of death, and estimated value of the estate. It is important to note that there are different types of Hollywood Affidavit of No Florida Estate Tax Due, depending on the specific circumstances of the estate. Some common variations include: 1. Hollywood Affidavit of No Florida Estate Tax Due for Resident Decedents: This type of affidavit is used when the deceased person was a legal resident of Florida at the time of their passing. It certifies that their estate does not exceed the threshold for Florida estate tax liability. 2. Hollywood Affidavit of No Florida Estate Tax Due for Non-Resident Decedents: This variation applies when the deceased person was not a resident of Florida but had assets located within the state. It establishes that the non-resident's estate is not subject to Florida estate tax. 3. Hollywood Affidavit of No Florida Estate Tax Due for Portability Election: Portability refers to the ability to transfer any unused estate tax exemption to a surviving spouse. This type of affidavit is used when the deceased person's estate elects to transfer their unused exemption to their surviving spouse, potentially reducing or eliminating future estate tax liability. It is crucial to consult with an attorney or estate planning professional to ensure the correct type of Hollywood Affidavit of No Florida Estate Tax Due is prepared and filed accurately. Making any errors or omissions in this document could result in unnecessary tax liabilities or complications during the probate process.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.