Author Archives: atxprobateagent

Biden has proposed doing away with the step-up basis treatment which would create a large tax bill for heirs that receive assets through probate. In most cases, assets that passed to beneficiaries through a will, like a home or stocks, have gained in value since the deceased purchased them. These gains in value are calledContinue reading “Biden’s Tax Plan Proposal”

Basis is the fair market value of the inherited property to figure gain or loss for tax purposes. Basis is commonly used to refer to the cost plus expenses of an investment. If you sell an asset for more than your basis you have a taxable gain. If you sell an asset for less thanContinue reading “Inherited Properties and Tax Basis”

An ounce of prevention is worth a pound of cure. Hello my name is Albert, I’m one of the directors at ATX Probate Agent. This year has really taught me a lot about unpredictable life events. One of the things it’s taught me as I’ve helped many families going through probate is just how expensiveContinue reading “Protect Your Family From the Pitfalls of Probate”

Certain assets are not distributed during probate but are transferred through contracts. These assets are called the non-probate assets and transfer directly from the company or bank holding them to the beneficiary named in the account documents. Non-probate assets are those assets that pass according to a right of survivorship, pay-on-death (POD) or transfer-on-death (TOD)Continue reading “Not All Assets Go Through Probate”

Certified Probate Real Estate Specialists are trained and certified on the process of marketing and selling real estate involved in the probate process. Probate is a court-supervised procedure and an often complicated series of steps that must be carefully monitored and managed for a successful outcome. A CPRES is your “go to” real estate professional forContinue reading “CPRES Certified Probate Real Estate Specialist”