Does Texas Have an Inheritance Tax?

The short answer to the question is no. Before 1995, Texas collected a separate inheritance tax, called a “pick-up tax.” The tax did not increase the total amount of estate tax paid upon death. Rather, a portion of the federal estate tax, equal to the allowable state death tax credit on the federal estate tax … Read More

Deal or No Deal: The Estate Tax Debate Continues

NB: This article was published on December 13, 2010 and contains information that may be outdated. For current information regarding the estate tax, read: Estate Tax Certainty…For Now If you’ve been keeping up with the estate tax debate, you’ve probably already heard that President Obama reached a tax cut agreement with Republicans last week. Part of the deal … Read More

The Return of the Estate Tax

NB: This article was published on December 7, 2010 and contains information that may be outdated. For current information regarding the estate tax, read: Estate Tax Certainty…For Now. As I mentioned in Monday’s article, opponents of the estate tax are suggesting that if Congress does not address the estate tax in 2010, people with infirm family members will … Read More

For 98 Percent of Americans, Return of the Estate Tax is Nothing to Fear

NB: This article was published on December 7, 2010 and contains information that may be outdated. For current information regarding the estate tax, read: Estate Tax Certainty…For Now. If you’ve tuned in to your favorite television news show or read your local newspaper, you’re probably aware that the estate tax is about to return. And … Read More

Estate Tax Monster Still Lurks

NB: This article was published on November 1, 2010 and contains information that may be outdated. For current information regarding the estate tax, read: Estate Tax Certainty…For Now. Halloween has come and gone, but estate tax monster still lurks. If Congress does not pass new estate tax legislation this year, estates valued at over $1 … Read More

How Do I Figure Out the Value of My Estate?

Whether you will be required to pay federal estate tax will depend on the value of your gross estate, minus your debts and liabilities. Estate tax is due on the portion of a net estate that exceeds the federal estate tax exemption amount. Calculating the Gross Estate The value of all your assets will be … Read More