Texas Estates Code 124.013 – Withholding of Estate Tax Share by Representative
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Terms Used In Texas Estates Code 124.013
- Estate: means a decedent's property, as that property:
(1) exists originally and as the property changes in form by sale, reinvestment, or otherwise;
(2) is augmented by any accretions and other additions to the property, including any property to be distributed to the decedent's representative by the trustee of a trust that terminates on the decedent's death, and substitutions for the property; and
(3) is diminished by any decreases in or distributions from the property. See Texas Estates Code 22.012 - Person: includes a natural person and a corporation. See Texas Estates Code 22.027
- person interested: means :
(1) an heir, devisee, spouse, creditor, or any other having a property right in or claim against an estate being administered; and
(2) anyone interested in the welfare of an incapacitated person, including a minor. See Texas Estates Code 22.018 - Property: means real and personal property. See Texas Government Code 311.005
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 amount equal to the person‘s apportioned share of the estate tax.