A lifetime gift generally carries the donor’s adjusted tax basis. Property acquired from a decedent generally receives date-of-death value, but community property, income rights, loss property, and other exceptions require careful review.
What happens to tax basis when you give away appreciated property? Read More »
The annual gift tax exclusion is not a legal limit on giving. A larger transfer may require Form 709 and use lifetime exclusion without producing an immediate gift-tax payment.
The annual gift tax exclusion is not a gift limit Read More »
Texas currently imposes no state estate tax or inheritance tax. Federal estate tax, income tax, property tax, multistate rules, probate, and post-death filing obligations remain separate questions.
Does Texas have an estate tax or inheritance tax? Read More »
Business value does not pay a bill by itself. Liquidity planning matches each company, estate, buyer, and family obligation to a realistic primary and backup funding source.
Where will the cash come from when a business owner dies? Read More »
An executor or trustee needs governing documents, proof of authority, contacts, asset and debt records, tax files, digital instructions, and prompt notice of vulnerable property or urgent deadlines.
What information will an executor or trustee need from the family? Read More »
Digital assets require coordination among ownership, user directions, fiduciary authority, provider procedures, and technical recovery. Texas law treats message content differently from account information and other digital assets.
What happens to digital assets when a Texan dies or becomes incapacitated? Read More »
A beneficiary designation audit should rely on current institution records for retirement accounts, insurance, annuities, and death-transfer accounts. Primary and contingent choices must be coordinated with contracts, taxes, trusts, and family changes.
A beneficiary designation audit: which accounts need a second look? Read More »
Texas may recognize properly executed out-of-state estate documents, but validity is only the first question. A move should prompt review of property, administration, agents, medical forms, and interstate coordination.
You moved to Texas. Which parts of the estate plan should be reviewed? Read More »
Marriage, divorce, and remarriage can affect ownership, fiduciary appointments, documents, beneficiary forms, and federal plans differently. A Texas default rule may correct one provision without finishing the estate-plan review.
Marriage, divorce, and remarriage: when does the estate plan need attention? Read More »
A Texas estate plan has no fixed expiration date. Regular calendar checks create discipline, while changes in people, property, place, business, authority, law, or transfer records can require earlier review.
How often should you review a Texas estate plan? Read More »
