Legal Question in Wills and Trusts in Texas

Re: Estate taxes in the State of Texas/Travis County??

The problem with your husband not wanting to make

will is not unique. The majority of people in the

country do not want to make a will or do any estate

planning.

When you talk about the "state", I assume you are

talking about the State of Texas and the federal

government together. There is no "death" tax due

if your estate (your one half of the community

property) is below $675,000 and you die this year.

Neither the State of Texas nor the Federal government

wil levy a tax upon your estate if it is below this

amount. There are several traps here and they need

to be looked at by someone who is familiar with the

problems which might occur.

If something happens to both of you at the same time

then each of your estates would be probated seperately.

If one of you have a will and the other doesn't,

then the one with the will should probably be probated

with a minimun amount of trouble and expense. The

estate without a will can and will spend considerable time

and expense in having the assets of the estate transferred

to the estate heirs. Where you both have children by a

previous marriage and one of you have a will and the other

doesn't, good luck. This is a lawyers dream. You should

both see an attorney about planning the disposition of your

property. It will save your children a good deal of

grief in the future.

I'll bet the cost of doing so would be less than

you think and it would save you a great deal of

money in the future.

Good Luck!