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Texas Tax Issues And Estate Planning
All aspects of estate planning must undergo scrutiny on how each account, policy or gift could affect the amount that could be taken by the government off the top and how it might affect the taxes of your beneficiaries. These plans must be assembled in a strategic manner to avoid costly tax penalties and complications that could cost your estate a significant percentage.
At Law Office of Troy M. Moore, PLLC, we provide skilled and knowledgeable guidance as you plan your estate, mindful of tax issues that you must avoid and plan for. Attorney Troy M. Moore can help you structure your estate in such a way that the most possible assets are transferred to those you love when you pass.
Texas Tax Issues And Estate Planning — Strategies Tailored To Your Estate Plan And Goals
We will provide you with a clear understanding of accounts and vehicles that have the fewest tax implications. For instance, benefits of life insurance policies are income tax free to beneficiaries on a federal income level, and we can help you understand how to seamlessly integrate these vehicles into your overall estate plan.
For some individuals, gifting and the transfer of assets play a crucial role in minimizing tax on the estate. Our lawyer will take a detailed look at your situation and that of the individuals or charities you would like to gift, breaking down the numbers and informing you of all implications.
For spouses, we will help you understand important tools, such as the death tax limit and other options that allow a spouse to use unused portions of a deceased spouse's exemption amount. These options can help to better provide for the remaining spouse, but require specific steps with the IRS.
To learn more about how we can assist you in understanding the specific tax implications of each estate planning option and steps that can be taken to minimize tax on an estate, please contact our Houston, Texas, law firm today at 281-970-8039.
Small Firm Attention,
Large Firm Results!
Law Office of Troy M. Moore, PLLC, of Houston, Texas, provides representation throughout the metro area, including Houston, Cypress, Cy-Fair, The Woodlands, Spring, Katy, Tomball, Pinehurst, Magnolia, Waller, Harris County and all of Northwest Houston and North Houston.
12850 Jones Road, Suite 201
Houston, TX, 77070
Office (281) 970-8039