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May 13, 2008

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Estate Planning News

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Did You Know?

A "Family Limited Partnership" can be used to own and manage your property
In a similar manner to a Trust, but allowing additional tax planning techniques to be employed. Family Limited Partnerships are typically used for those who have large estates and thus have a need for specialized estate planning in order to minimize federal and state estate/death/inheritance taxes as well as provide elements of asset protection.

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Estate Planning Terms

Today's Terms

Inheritance Tax

Definition:
A tax imposed by the state at the time of a person's death that is based upon the total value of the decedent's estate

Personal Property

Definition:
Movable property, including furniture, antiques, automobiles, business equipment, cash and stocks. Compare with Real Property.

Incapacity / Incompetent

Definition:
Legally unable to manage one's own affairs due to mental disability. This may be temporary or permanent.

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Estate Planning Resources

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Estate Planning Hot Topics

Topics Related to Estate Planning:

Trusts
Wills
Uniform Probate Code
Gift Tax

Plano Estate-Planning Attorney

If you live in the following cities and need an Estate-Planning attorney you should contact our Estate-Planning Attorney as soon as possible:

Alvin
Amarillo
Arlington
Austin
Baytown
Brownsville
Burleson
Carrollton
College Station
Cypress
Dallas
Del Rio
Desoto
Eagle Pass
Edinburg
El Paso
Flower Mound
Fort Worth
Friendswood
Garland
Grand Prairie
Grapevine
Harlingen
Houston
Irving

Katy
Laredo
League City
Lewisville
Mcallen
Mesquite
Mission
New Braunfels
North Richland Hills
Palestine
Pasadena
Pharr
Plano
Richardson
Richmond
Round Rock
San Antonio
San Benito
San Marcos
Seguin
Spring
Sugar Land
Victoria
Weslaco

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