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November 2013 Archives

Keeping estate tax at a minumum when leaving an inheritance

Many Texas residents may not have to worry about reaching the federal estate tax exemption, but that does not necessarily preclude the need to minimize tax exposure. One of the main purposes of estate planning is to keep the amount of estate tax that may be due as low as possible. This may work well for the first spouse to pass away, but additional consideration may be needed to determine how estate taxes may impact the estate of the surviving spouse.

Frequent-flier miles and the distribution of property in Texas

When frequent fliers in Texas are drafting their estate planning documents, it can be easy to forget about all of the miles and other rewards accumulated through airline reward programs. Even though not technically considered an asset, they are something to consider when planning the distribution of property upon death. Many airlines allow frequent-flier miles to be transferred, but others do not.

Texas wills: Estate planning for terminally ill patients in Texas

It can be difficult for many patients in Texas to concentrate on anything else when given the news that they have a terminal condition. Talks of wills and other estate planning documents may be the furthest thing from their minds. However, this would be the time for patients to put their wishes into writing in order to ensure their wishes are carried out when the time comes.

Texas wills: Are parents leaving money to their kids?

Surveys indicate that many children expect to receive an inheritance when their parents pass away. Those that believe they will receive an inheritance typically put the money toward retirement or paying off debt. However, Texas parents may be interested to know that some parents are no longer leaving children money in their wills.

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