There are two different types of estate taxes, which are federal and state taxes. In most cases, Texas beneficiaries are able to sidestep estate tax on a federal and state level. However, those in other areas face states taxes of up to 19 percent.With regard to...
Month: December 2013
Texas estate planning: Prepare to tax changes
The end of the year is coming and it's a perfect time for those who have assets to appoint beneficiaries and keep up-to-date on new laws. Estate planning plays a vital role in the future of Texas consumer's assets. For those who already have a plan in place, it can be...
Estate planning advice: Trustee discretion
When Texas residents are planning their estate, many choose to create a trust in order to hold wealth intended for one or more beneficiaries. In doing so, they must also appoint a trustee, who is the individual responsible for administering the trust according to the...
Probate can have negative outcomes in Texas
When distributing assets from an estate, sometimes beneficiaries go through the process of probate. In regard to probate, there is a difference between non-probate transfers and probate estate. Avoiding probate can help Texas estate owners safeguard their assets for...
Do Texas beneficiaries need to probate a savings account?
A well-drafted will is an important part of estate planning. Even with a will in place, there are certain aspects that may be missing which may lead to probate. However, there are some exceptions to the rule and Texas beneficiaries may be able to participate in small...