A loved one’s passing brings sorrow. But being an executor of their estate adds a new burden. In Texas, it is vital to know the legal duties, including the filing of a tax return. This guide will explain the estate tax return requirements in Texas, when to file, what the estate includes for tax purposes,…
TX-LW Blogs
Tax Implications of Debt vs. Equity in Related Entities
Investors who engage in successful ventures often also invest in less successful ones. In some cases, one venture ends up funding another. When a taxpayer operates through multiple legal entities, this can lead to numerous complexities. For example, “due to” and “due from” intercompany transactions raise questions, even if they do not involve international transfers.……
Estate Tax Return Requirements
The passing of a loved one can be a difficult time, and the responsibilities of being an executor of their estate can add additional stress. In Texas, if you have been named as the executor of a deceased person’s estate, it is important to understand the legal requirements, including the potential requirement to file a…
When Distributions Aren’t Made According to the Will
This is a Case Study analysis on the facts of Patrick v. Patrick, 182 S.W.3d 433 (Tex. App. – Austin 2005, no pet.), as if it were to be decided today. It is not an analysis of the court’s holding in this case. Introduction Probate law governs the distribution of a deceased person’s assets. In…
Transferring Real Property after the Death of a Loved One
Losing a loved one is a difficult and emotional experience, and the process of transferring their assets to their heirs can add to the stress and confusion. If your loved one died owning real property in Texas, you may be wondering what steps you need to take to transfer the property to your name. In…
Ademption and Voluntary Partition in Texas Probate Law
Ademption and voluntary partition are two important concepts in Texas Probate Law that are often confused. Understanding the differences between the two concepts is crucial for those who are administering an estate or creating an estate plan. Ademption in Texas Probate Law Ademption refers to the situation where a specific gift in a will or…
Disputing Inheritance Rights: A Case Study in Texas Probate Law
This is a case study based on the facts of of the actual case, Rogers v. Carter, 385 S.W.2.d 563 (1964), if it were decided today. In this regard, it is a hypothetical legal analysis and not an analysis of the court’s actual holding. Introduction In this case, the dispute is over the rights to…
Recovering Taxes Paid for Another Party
If you pay tax for another party, can you recover the payment if the tax is not owed? The answer is generally “no,” as you cannot sue the Federal government unless it consents and it only consents in limited circumstances. One such consent is the ability to sue for a refund. The rules that allow……
Illegal Sales and Possession of Property in Texas Probate: A Real-Life Example
Probate is the legal process of distributing a deceased person’s assets to their beneficiaries. It can be a confusing and stressful time for beneficiaries, especially if the executor of the estate is not communicating or acting in their best interest. This blog post will explore a case study of a beneficiary seeking assets from their…