Estate planning is necessary if you want to protect your assets from uncertainty, liability or extra taxes in Texas. Your will details how assets are managed after your death, but a trust may offer more safety for your estate. Here are some differences between the...
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How your estate plan could impact your business
Even after devoting decades to building and maintaining a successful business, many individuals might lose track of the importance of planning an exit strategy. Whether you want to keep the business in the family or sell it to reap the benefits of your hard work, a...
The simplest way to protect family land from taxes and divorce
If your family has a strong tie to the land, you may intend to pass your property on to the next generation. Whether you grow crops for human consumption, produce commodity crops, graze livestock or farm trees, the land that you own is the crucial part of your...
How to incorporate real estate into your estate plan
You have been fortunate and worked hard to get where you are today, and your estate has grown beyond what you imagined. You have several properties, and you have land that you want to preserve for your family’s future. If you’re working on your estate plan, finding a...
Will your loved ones have to pay up to 40% in estate taxes?
The assets you hold are already subject to taxation. Income that you make through work, royalties and properties, as well as rental or ranching income, is all subject to taxation when you first earn it. If you reinvest those earnings, you will then also pay taxes on...
Estate planning considerations for people with complex assets
When you make enough money to start saving for retirement or investing the money to earn a return on it, the advice from financial professionals is typically to diversify your holdings. Putting everything in stock, for example, would leave you vulnerable during an...