Estate Tax

Millionaire Growth in Dallas Spurs Estate Tax Concerns

As of 2013, there were 600,000 new millionaires reported in the United States.  This is the fast growth in millionaires in the country since the early 90s.  Most of these millionaires are being sourced by oil and technology.  As a result, Dallas has become the home of this record-breaking millionaire growth.  In fact, the number… Continue Reading

Estate Tax Parameters Are Not Etched in Stone

The federal estate tax looms large for high net worth families. This death tax carries a top rate of 40 percent, so we are talking about a significant piece of your legacy. The good news is that most people are not exposed to the federal estate tax, because the exclusion or credit is relatively high…. Continue Reading

What Is a Family Wealth Trust?

There are many different things to take into consideration when you are devising your estate plan. What is important for one person may not be important for the next, so you should understand the facts and act in a fully informed manner. Personalized attention is of great value, because your plan should be custom crafted… Continue Reading

What Is a Qualified Personal Residence Trust?

Taxation is a very big factor to take into consideration when you are preparing your assets for future distribution to your heirs. There are taxes on asset transfers in the United States, and these death taxes can erode your wealth considerably as it is being passed on to succeeding generations. The federal estate tax looms… Continue Reading

Legacy Planning and Acts of Charitable Giving

Merry Christmas! Tis the Season of Giving! Estate planning can be viewed in one of two ways. You could look at it as a basic effort to make sure that your assets are distributed in accordance with your wishes and leave it at that. On the other hand, you could take a more comprehensive viewpoint… Continue Reading

Transfer Appreciable Assets at a Gift Tax Discount

The federal estate tax was established back in 1916. What would you do if you knew that your estate was going to be subject to the estate tax? A logical person would consider lifetime gift giving, and this is exactly what wealthy people did after the estate tax was enacted. Tax minded legislators were not… Continue Reading

Farmers and Ranchers: The Estate Tax Looms

You may have heard that you do not have to be concerned about the federal estate tax because it is only applicable to extremely wealthy people. In reality, this may or may not be the case, depending on your definition of “extremely wealthy.” The line that is drawn between taxable inheritances and inheritances that are… Continue Reading

Can My Surviving Spouse Use Two Estate Tax Exclusions?

We have an estate tax on the federal level in the United States, and there are also a number of states in the union that impose state-level estate taxes. There are many great things about living in Texas, and one of them is the fact that there is no state-level estate tax in our state…. Continue Reading

Do I Control Assets in a Wealth Preservation Trust?

Wealth preservation is a very important consideration for high net worth individuals. When you are in a position to pass wealth along to your loved ones after you are gone you may enjoy a certain peace of mind, but you have to be concerned about asset erosion. The federal estate tax is a looming threat… Continue Reading

Estate Tax Efficiency for Non-Citizen Spouses

There are many high net worth individuals in the greater Dallas area, and when you have been financially successful throughout your life, you have to be aware of potential estate tax exposure. The federal estate tax carries a whopping 40 percent maximum rate, so your wealth can be significantly eroded if you take no steps… Continue Reading