Texas Estates Code Title 2, Chapter 124 - Valuation And Taxation Of Estate Property

SUBCHAPTER A APPORTIONMENT OF TAXES

• Texas Section 124.001 - Definitions
  In this subchapter: (1) "Court" means: (A) a court in which proceedings for administration of an estate are pending or have been completed; or (B)...
• Texas Section 124.002 - References To Internal Revenue Code
  A reference in this subchapter to a section of the Internal Revenue Code of 1986 refers to that section as it exists at the time...
• Texas Section 124.003 - Apportionment Directed By Federal Law
  If federal law directs the apportionment of the federal estate tax, a similar state tax shall be apportioned in the same manner. Added by Acts...
• Texas Section 124.004 - Effect Of Disclaimers
  This subchapter shall be applied after giving effect to any disclaimers made in accordance with Chapter 240, Property Code. Added by Acts 2009, 81st Leg.,...
• Texas Section 124.005 - General Apportionment Of Estate Tax; Exceptions
  (a) A representative shall charge each person interested in the estate a portion of the total estate tax assessed against the estate. The portion charged...
• Texas Section 124.006 - Effect Of Tax Deductions, Exemptions, Or Credits
  (a) A deduction, exemption, or credit allowed by law in connection with the estate tax inures to a person interested in the estate as provided...
• Texas Section 124.007 - Exclusion Of Certain Property From Apportionment
  (a) To the extent that property passing to or in trust for a surviving spouse or a charitable, public, or similar gift or devise is...
• Texas Section 124.008 - Exclusion Of Certain Temporary Interests From Apportionment
  (a) Except as provided by Section 124.009(c), the following temporary interests are not subject to apportionment: (1) an interest in income; (2) an estate for...
• Texas Section 124.009 - Qualified Real Property
  (a) In this section, "qualified real property" has the meaning assigned by Section 2032A, Internal Revenue Code of 1986 (26 U.S.C. Section 2032A). (b) If...
• Texas Section 124.010 - Effect Of Extension Or Deficiency In Payment Of Estate Taxes; Liability Of Representative
  (a) If the date for the payment of any portion of an estate tax is extended: (1) the amount of the extended tax shall be...
• Texas Section 124.011 - Apportionment Of Interest And Penalties
  (a) Interest and penalties assessed against an estate by a taxing authority shall be apportioned among and charged to the persons interested in the estate...
• Texas Section 124.012 - Apportionment Of Representative's Expenses
  (a) Expenses reasonably incurred by a representative in determination of the amount, apportionment, or collection of the estate tax shall be apportioned among and charged...
• Texas Section 124.013 - Withholding Of Estate Tax Share By Representative
  A representative who has possession of any estate property that is distributable to a person interested in the estate may withhold from that property an...
• Texas Section 124.014 - Recovery Of Estate Tax Share Not Withheld
  (a) If property includable in an estate does not come into possession of a representative obligated to pay the estate tax, the representative shall: (1)...
• Texas Section 124.015 - Recovery Of Unpaid Estate Tax; Reimbursement
  (a) A representative shall recover from any person interested in the estate the unpaid amount of the estate tax apportioned and charged to the person...
• Texas Section 124.016 - Time To Initiate Actions To Recover Unpaid Estate Tax
  (a) A representative required to recover unpaid amounts of estate tax apportioned to persons interested in the estate under this subchapter may not be required...
• Texas Section 124.017 - Tax Or Death Duty Payable To Another State
  (a) A representative acting in another state may initiate an action in a court of this state to recover from a person interested in the...

SUBCHAPTER B SATISFACTION OF CERTAIN PECUNIARY GIFTS

• Texas Section 124.018 - Payment Of Expenses And Attorney's Fees
  The court shall award necessary expenses, including reasonable attorney's fees, to the prevailing party in an action initiated by a person for the collection of...
• Texas Section 124.051 - Valuation Of Property Distributed In Kind In Satisfaction Of Pecuniary Gift
  Unless the governing instrument provides otherwise, if a will or trust contains a pecuniary devise or transfer that may be satisfied by distributing assets in...
• Texas Section 124.052 - Satisfaction Of Marital Deduction Pecuniary Gifts With Assets In Kind
  (a) This section applies to an executor, administrator, or trustee authorized under the will or trust of a decedent to satisfy a pecuniary devise or...

Last modified: September 28, 2016