Blog
Articles and updates from our family of firms on tax, probate, business, and related topics.
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Tax on Funds Received as an Intermediary Conduit
As tax attorneys in Houston, we often see investments made by local ethnic communities that are focused on investing overseas or raising money from overseas. This often involves those who immigrate to the U.S. from foreign countries, and do well in the U.S. financially. The investments are often made based on direct knowledge of opportunities…
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Dealing With a Fraudulent Durable Power of Attorney
A durable power of attorney is a standard estate planning document. It is a powerful legal document that grants an agent broad authority to act on behalf of the principal. Unfortunately, this type of document is often prone to fraud and abuse. The Gardner v. Majors, No. 10-21-00306-CV (Tex. Ct. App.–Waco 2023) case provides an
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Inheritance with No Will in Texas
Dealing with the loss of a loved one is never easy, and it can be even more challenging when there is no clear plan for their assets. In Texas, when someone passes away without a will, their assets are subject to the state’s intestacy laws. This means that the court will distribute the assets according
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Navigating an Estate Without a Will
Dealing with the death of a loved one is never easy, but it can be especially challenging when they pass away without a will. This is what is commonly referred to as an estate without a will or “intestate succession.” In this case study, we will explore the complex issues that can arise in these
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Crypto Tax Loss & the Tax Loss Deduction Rules
Crypto tax loss refers to the capital losses incurred from selling or trading cryptocurrencies at a lower price than what was paid for them. These losses can be used to offset any gains earned throughout the year, reducing the taxpayer’s overall tax bill. The tax laws are clear that this type of investment loss is…
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Forced Heirship in Texas Probates
Scoby v. Sweatt, 28 Tex. 713 (1866) is a significant case in Texas probate law. The case involved a dispute between James Scoby (Plaintiff) and the executors of Edward Sweatt’s (Decedent) estate. The dispute centered on Decedent’s will, which did not give his children equal shares of his estate, contrary to the law of forced
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Transfer-On-Death Designations in Texas Probate Law
When it comes to estate planning in Texas, there are many different tools and strategies available. One option that is often overlooked, but can be incredibly useful, is the use of transfer-on-death (TOD) designations. These designations allow you to name beneficiaries for certain assets, which will then pass to them automatically upon your death, outside
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Informal Marriage and Intestate Succession in Texas
In Texas, informal marriage and intestate succession are two areas of law that can unexpectedly collide. An informal marriage is relatively easy to enter into, and if a person enters into an informal marriage prior to their passing, this can create an additional heir, leading to potential conflicts in an heirship proceeding. To avoid such
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Will vs. Estate Planning: What’s the Difference?
Introduction: Will vs. Estate Planning Many people think that creating a last will and testament is all that is needed to protect their assets and ensure that their loved ones are taken care of after they pass away. However, a will is only a part of a comprehensive estate plan that can provide greater protection,
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Texas Probate Law Case Study – Representation in Estate Mediation
In July of 2018, the father of the individual in question passed away, leaving behind an estate that needed to be probated. The individual hired an attorney to represent them in the estate mediation process, which has been ongoing for the past two years. However, after no resolution was reached, the individual’s attorney was appointed