Weatherford, TX asked in Real Estate Law for Texas

Q: Other than marriage, how can I bequeath my property to a individual without it costing them an inheritance tax /probate

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1 Lawyer Answer
Teri A. Walter
Teri A. Walter
  • Houston, TX
  • Licensed in Texas

A: For avoiding estate taxes, leave less than $11.7 Million in your estate, (the current minimum value of estates subject to the tax).

For avoiding inheritance taxes, leave property to a beneficiary in a state that does not impose inheritance taxes. Most states, including Texas, do not have inheritance taxes.

To avoid probate (not a serious issue in Texas), you could transfer all your assets during your lifetime, or transfer real estate by a Transfer on Death deed.

I suggest you sit down with an estate planning lawyer in your area and go over your specific concerns for your property and heirs.

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