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Gift and Estate Tax
Most families won’t owe federal estate tax, but the rules around gifts and inheritances can still affect your planning. Knowing how they work helps you make informed decisions.
The article explains that the federal estate and gift tax exclusion will increase to $15 million per person in 2026 and outlines planning considerations for wealthy families.
- Rania Combs
Texas has no state inheritance or estate tax, but federal estate tax or another state's inheritance tax may apply in some situations.
- Rania Combs
This article explains how to calculate a gross and net estate for federal estate tax purposes and notes the 2026 $15 million per-person exemption.
- Rania Combs
This article explains why estate tax portability does not make bypass trusts obsolete and discusses their benefits for asset protection, remarriage, appreciation, grandchildren, and administrative planning.
- Rania Combs
Explains that a U.S. recipient generally does not pay tax merely for receiving a foreign gift or inheritance, but may have IRS reporting obligations and foreign-account reporting duties.
- Rania Combs
The article explains how capital gains tax applies to gifted and inherited property and discusses proposed changes to the step-up in basis.
- Rania Combs
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