Good afternoon-I am writing my will out. I would like to accomplish the following items;
1) not collect Social Security numbers from each of the recipients and 2) not have them each pay an inheritance tax. I reside in the state of Florida. Thank you for any assistance
2 Answers from Attorneys
You need not list the beneficiaries ss#. The tax may differ depending on the state residence of each beneficiary.Of course, you can provide for the estate to pay any tax.
I'm glad you are thinking of some of your objectives while drafting your will. I still strongly recommend you consult with an estate planning attorney. Many times there are issues at probate when people do their own wills, especially when using the pre-designed forms. These do-it-yourself kits are often generic and don't consider individual state rules. Also, you may want to think about doing Designation of Health Care Surrogate, Durable Power of Attorney, and Living Will in addition to your will. Depending on several factors (e.g., the amount of your assets, whether you own property outside of Florida, etc.), there may be other estate planning options available to you. I agree with Attorney Slater; SS#s are not needed nor should you put them in your will.