In Texas, the laws of intestacy (dying without a valid Will) can have significant implications for blended families. When a person with children from a previous relationship dies without a Will, their estate is distributed according to the Texas Estates Code’s statutes regarding intestate succession.

The beauty of the gift tax exclusion is that it allows you to reduce the size of your taxable estate while simultaneously providing financial support to your family and friends. By gifting the maximum amount each year, you can gradually transfer wealth without having to worry about the gift tax.