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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.
If you’ve recently lost a close family member and received an inheritance, you’re likely wondering whether you’ll have to pay an inheritance tax. The short answer to the question is no. Texas does not have
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Whether you will be required to pay federal estate tax will depend on the value of your gross estate, minus your debts and liabilities. Estate tax is due on the portion of a net estate
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Before this year, bypass trusts were necessary to preserve a deceased spouse’s federal estate tax exemption. This is no longer the case. Under the new estate tax rules, a deceased spouse’s estate tax exemption is
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Most clients I work with voice concern about the amount of federal estate taxes that their families will have to pay after their death. They have heard about the “death tax” and worry that the
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Congress recently passed sweeping legislation, which includes many changes to tax policy, spending, and entitlement programs. One of the most significant changes for estate planning is an increase in the federal estate and gift tax exclusion.
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If you have close relatives, like parents, who are citizens and residents of a foreign country, there is a chance you might receive a gift or inheritance from them at some point in your life.
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Capital gains tax is a type of tax you have to pay when you sell an appreciated asset. You calculate it by subtracting your purchase price (known as the cost basis) from how much you
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Under our country’s tax laws, it is the person making a gift (the donor) who is responsible for any gift tax that is due. The gift’s recipient (the donee) is not required to pay any
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The Tax Cuts and Jobs Act was signed into law on December 22, 2017. It represents the most significant tax overhaul in decades. Although efforts by the House of Representatives to completely repeal the federal
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NB: This article was published on January 1, 2010 and contains information that is outdated but included on this website for historical context. For current information regarding the estate tax, read: Does Every Estate Have
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- Powers of Attorney45
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- Trusts26
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- Choosing a Guardian24
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- The Risk of DIY Planning16
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- Transfer on Death Deeds12
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