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January 2013 Archives

Texas estate planning may be affected by new tax rules

Many of our readers in Texas may feel that the rules for estate planning are complicated. This has been especially true in recent years due to the ever-changing laws for issues such as the federal estate tax. Now, Congress has enacted a new set of laws aimed at making some of the more complicated estate planning considerations easier for some to understand.

Texas estate planning should include tax considerations

As we have discussed in this column before, the potential changes to the estate tax have been a point of concern for many of our Texas readers. Now, many beginning to consider the estate planning process can rest easy after the U.S. Congress sought to make the amount of the estate tax exemption permanent. This is a change from recent years where annual adjustments were made to the amount of money in an estate subject to the exemption.

Texas estate planning can be used for the care of pets

Heirs of an estate can take many different forms. For many readers in Texas, their pets are a member of the family that are as important as any individual or organization that are potential heirs to an estate. For these folks, estate planning includes making plans for the care and welfare of their beloved animals after a death or incapacitation.

Texas estate planning may include tax questions

As we have mentioned previously on our blog, the estate tax exemption is set to change at the end of this year. One recent report that may be of interest to readers in Texas highlights the fact that the exemption will change from $5.12 million to $1 million per individual if Congress does not act to stop the change. This may be why many people in our state are now considering a review of their estate planning documents.