The gift tax is a tax levied by the federal government on monetary or value gifts. Usually this tax is paid by the person who gives the gift, though agreements can be made for the person who receives the gift to make payment. In such cases, the Internal Revenue Service recommends that … [Read more...] about What is the gift tax?
While Texas has a relatively uncomplicated probate process when compared to some other states, anytime you mix legal documents and court proceedings, the words simple or easy don't necessarily apply when you have little legal knowledge with which to approach the process. Whether or not a will or … [Read more...] about Getting assistance with the Texas probate process
One thing many people worry about when considering their estates is how much of their assets will be lost to estate taxes. Luckily in Texas, there isn't an estate or inheritance tax, but that doesn't mean federal taxes won't come into play. Chances are, you're in luck on the federal side too since … [Read more...] about Some surprising information about federal estate taxes
It's true that Texas doesn't levy an estate tax on its citizens, and most individuals will not meet the high valuation requirements for the federal estate tax. This doesn't mean, however, that you should ignore the estate planning process. Asset protection can help your heirs avoid other taxes and … [Read more...] about Lack of Texas estate taxes doesn’t mean don’t plan
Estate tax planning is not a task left only to the wealthy. Many people in Texas, including regular families, can benefit from planning for end of life. Planning ahead lets you record your wishes about a number of matters, including end-of-life care and the disbursement of any assets. It also lets … [Read more...] about The impact of life insurance on estate tax planning
Most individuals in Texas wouldn't drive around without car insurance, and whenever possible, most people seek health insurance coverage. Protecting property, such as cars and homes, is important to us. Protecting our health and bodies is also important. Surprisingly, many people fail to take the … [Read more...] about Don’t leave your assets unprotected