Texas
Texas Attorney
Kisch Law Firm, PLLC
Texas Bar ID: 11139175
Experienced Houston attorney with over 29 years of practice, specializing in estate planning, tax, bankruptcy, and business law, with a strong foundation in finance.
State Specific Considerations
Here are some special considerations for estate planning in Texas:
- Community Property Laws
- Texas follows community property laws, which means that marital property acquired during marriage is owned jointly by both spouses.
- This impacts how property is distributed after death, especially in wills and trusts.
- Probate Process
- Texas has a formal probate process but also offers alternatives, such as simplified probate procedures for smaller estates.
- Consider using a revocable living trust to avoid probate and simplify estate administration.
- Estate Taxes
- Texas does not impose a state estate tax or inheritance tax, but federal estate tax laws still apply. Stay informed about federal exemption limits.
- Wills and Witness Requirements
- Texas requires wills to be signed by two witnesses who are at least 14 years old.
- Holographic (handwritten) wills are valid if signed by the testator and the material provisions are in their handwriting.
- Durable Powers of Attorney
- A durable power of attorney is crucial in Texas for designating someone to handle financial and legal decisions in case of incapacity.
- Health Care Directives
- Texas allows for advance healthcare directives, which include medical power of attorney and living wills, letting individuals express their healthcare wishes.
- Transfer on Death Deeds
- Texas allows property owners to execute transfer-on-death (TOD) deeds, enabling the direct transfer of real estate to beneficiaries without going through probate.
- Special Needs Trusts
- Texas recognizes special needs trusts that can provide for individuals with disabilities without affecting their eligibility for government benefits.
- Guardian Designation for Minors
- Parents should consider naming guardians for minor children in their wills. This requires following Texas statutory procedures to ensure validity.
- Homestead Laws
- Texas offers strong homestead protections that can shield part of the value of a primary residence from creditors, adding a layer of protection in estate planning.
Working with an experienced estate planning attorney in Texas is recommended to ensure compliance with state laws and to tailor your estate plan according to individual needs. If you need more information on any specific topic, just let me know!
