When buying home in TV?

[Topspinmo]

Will be looking in the near future. Not that familar with Fl. law/Tax. If My Spouse and I buy home and put in both or names like ##### and/or ##### would that get around the death tax in case one of us had too much fun and pass on? Or do we need to to do will/trust??? I still don't understand why the gov. or state thinks they need to profit on someones death. Afterall all the taxes were paid once. IMO kinda like double taxation...

[mulligan]

In Florida most homes are titled as tenancy by the entireties, which means owned by the marriage. Either spouse claims ownership when one over-parties.

[rjm1cc]

Mulligan is correct. You also want to be sure you will qualify for the Homestead exemption so if you were to use a trust you have to be careful that the wording is correct.
Once you get settled in you should see an attorney to draw up a will and other papers you will need.

[Topspinmo]

Thanks, than answers that. Probably have few more as time draws closer.

[sueandskip]

It is to my understanding there is no tax on the first million dollars....Lifetime exemtion...

[2BNTV]

GOD forbid but:

Something to consider is, "what if you and your wife passed away at the same time due to a car accident"? Would your heir's be affected?