Most families will never owe federal estate tax. But families with larger estates, business owners and anyone whose assets are growing quickly should plan. Even when no estate tax is due, smart planning around gifts and capital gains can save your heirs real money.

Texas Has No State Estate or Inheritance Tax

Texas does not impose its own estate or inheritance tax. The federal estate and gift tax applies only above a lifetime exemption amount, which is set by Congress and can change. We review your plan against the current numbers.

Annual Gifts

Each year you can give up to the annual exclusion amount to as many people as you like without using any of your lifetime exemption. Used consistently over many years, it can move significant wealth to children and grandchildren.

Portability for Married Couples

A surviving spouse can use the deceased spouse’s unused exemption, but generally only if an estate tax return is filed to claim it. It is one of the most commonly missed steps after a spouse passes away.

Don’t Forget Income Tax

Inherited assets usually receive a new cost basis at death, which can erase capital gains tax on years of growth. Giving appreciated property away during life can lose that benefit, so gifts and inheritances need to be planned together.

Advanced Strategies

For larger estates we may use irrevocable trusts, generation-skipping planning, family LLCs and charitable strategies, always explained in plain language before you decide.

Whether you’re planning ahead or facing a decision right now, we can help with estate tax planning. Schedule a confidential consultation or call/text (281) 407-5622.