Under U.S. tax law, gifts and inheritances are generally excluded from gross income. This means that you do not have to pay taxes on gifts or inheritances that you receive. However, there are some exceptions to this rule. For example, if you receive a gift of property that has appreciated in value since it was...KEEP READING

What exactly is probate? It’s a legal process that takes place when someone dies, and it involves the distribution of their assets. While this may sound like a simple enough process, there are actually several different types of probate in Texas that you should be aware of if you are dealing with an estate or...KEEP READING

When you’re the beneficiary of a Texas trust, there are certain things that you should know. From understanding the different types of trusts in Texas to knowing your rights as a beneficiary, these six things will help you navigate your way through the process. Whether you’re setting up a trust for someone else or establishing...KEEP READING

In Texas, there are two types of probate: independent and dependent. Independent probate is when the decedent left a will that names an executor, and dependent probate is when the decedent did not leave a will or the will does not name an executor. If you are named as an executor in a will, you...KEEP READING