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If you have just inherited from an estate, the answers below will help guide you in the right direction Capital Gains Tax You have to pay capital gains taxes anytime a gain is achieved. For example, if you buy a house to renovate and resell, you would have to pay capital gains taxes on Some states also have an inheritance tax, but Texas does not. Hopefully, you now have a better idea about how your estate will be taxed when it is handed down to

As you navigate through your grief and loss, you also have various duties to manage in the probate process Though you have many responsibilities as an executor, did you know that there are several things you Have questions about being an executor? The executor does not have rights to the estate before the testator dies. As the executor, you do not have the right to sign the will on the decedent’s behalf.

The exemptions for 2016 have been raised to $5.45 million for a single person and $10.9 million for a It is important to note that the gift tax exemption is the total amount of gifts that may be made during The amount that may be given to any individual in a single year in 2016 will remain the same as it is To take advantage of these exemptions you will want to speak with qualified attorneys and accountants There are also certain gifts that do not count against the limits if properly made, including gifts for

should be a priority and is particularly important this year for people who own mutual funds in taxable accounts Portfolio managers may have to sell appreciated securities to meet redemptions. Charitable Giving: Consider giving stocks that have appreciated. year’s gifts right away on January 1st to maximize the time the money has to grow in the recipient’s account also suggests making larger gifts now (to go toward your lifetime exemption), in case the exemption amount

This means he’ll have to try again with new financial terms. Court filings show the NFL’s finance rules won’t allow Benson to use his personal wealth, which includes

Knowing that they have the ability to positively impact future generations or even a cause they care Here are just a few ways that trust lawyers in Harris County have seen this situation go poorly: 1. This institution and the advisors it hires do not have much concern beyond what they can get out of the This person, though someone you trust, just does not have the knowledge and experience required to make By having your estate planning lawyer include directions for a directed trustee, you can mitigate some

The stories in the book are part of the public domain in the United States, which means they do not have contends that, according to an international treaty called the “Berne Convention,” if a work does not have copyright protection in its country of origin, it does not have protection in other countries. Berne Convention is more complicated and the copyright laws of foreign countries must be taken into account The publisher’s lawsuit is expected to have a difficult battle in New Hampshire courts.

Naturally, you want to be sure that they will continue to receive the same love and attention that you To help you do just that, our special needs planning lawyers have put together a guide to walk you through From how it works to a free special needs letter of intent template, you’ll have everything you need

Crimes against them can devastate families and have far-reaching effects in the community, he explained Criminals might loot a victim’s bank accounts, steal belongings or property, as well as ignore the basic

In Texas, to create a proper estate plan, you must have the necessary mental capacity to execute a legal One of the following must be true: You are at least 18 years old You are or have been legally married On the other hand, if they do not have a diagnosis, having family members that can attest to their mental An invalid will or trust can be challenged by a family member who believes they have been wronged by You can contest the will in court to have a judge decide.

About 37% of parents with young children don’t have sufficient life insurance, according to a 2015 report Of those who do have insurance, 50% have less than $100,000 in coverage. You may have your spouse own the life insurance policy on you so that you can be smart with your estate

At our offices, we have seen many situations where the family waited too long to get our help. The best way I have found to help here is to simply explain to them that by planning their future now Not having access to financial information is a great deal of stress on adult children who are suddenly One way I have worked through this with families is to let the elder know that they can work with a qualified Our Houston elder attorneys have experience discussing these and other uncomfortable topics and have