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Estate Planning, Wills & Trusts in Palestine
When you think about the legacy you’ll leave, clarity matters. McMullen Tax Services helps you align wills, trusts, and beneficiary choices with the tax rules that determine what your family actually receives—and when. We don’t draft legal documents; we handle the tax strategy and documentation that sit alongside your will and trusts, and we coordinate with your attorney so everything works together.
What We Do
We begin by learning how your assets are titled and who you’ve named on retirement plans, insurance, and payable-on-death accounts. Then we compare those facts to your will or trust. If they don’t match, we explain the tax consequences and the straightest path to fix them. You’ll understand how beneficiary designations interact with estate plans, how step-up in basis affects appreciated property, and what heirs should expect from inherited IRAs under today’s rules.
For families with ministries or agricultural operations, we tighten details that often get missed—housing-allowance history, accountable plans, vehicle and equipment records—and create the paper trail your executor will need. Everything is explained in clear, non-legal language, with action steps you can hand to your attorney.
“Is My Will In Order?”
A will can be signed, witnessed, and “valid” but still leave gaps that create confusion, delays, or unnecessary taxes. Before you spend money rewriting documents, we review what you already have and compare it to how your accounts and assets are actually set up today. Then we give you a clear summary of what’s working, what’s outdated, and what questions to take to your attorney.
- Last update date and major life changes (marriage, divorce, births, deaths, moves, new property)
- Asset titling vs. will instructions (joint ownership, TOD/POD designations, beneficiary forms)
- Executor readiness and access (accounts, passwords, advisors, document locations)
- Trust coordination (what’s funded, what isn’t, and the tax consequences)
- Known exposures (large IRAs, highly appreciated real estate, closely held business interests)
- Clear action memo: what’s fine, what your attorney should update, and tax effects
Beneficiaries Without Surprises
Most people don’t realize beneficiary forms can override a will. That’s why we verify your designations across retirement accounts and insurance policies, make sure they match your plan, and explain the tax impact of each choice. When needed, we’ll outline simple updates so your family isn’t left untangling conflicts later.
- Verify designations on IRAs/401(k)s, HSAs, and life insurance—and match them to your plan
- Decide when to name individuals vs. a trust (and understand the tax trade-offs)
- Apply current inherited-IRA rules (10-year window, eligible designated beneficiary exceptions)
- Prevent conflicts where a beneficiary form could override your will
- Provide simple letters of instruction so heirs know who to call and what to do first
Wills vs. Trusts—The Tax Angle
Revocable living trusts are excellent for probate avoidance and continuity; income typically still flows to you while you’re alive. Irrevocable trusts can protect assets or reduce estate exposure, but they have their own tax return and faster-rising tax brackets. If charitable giving is part of your plan, we’ll show options—like donor-advised funds or qualified charitable distributions from IRAs (age 70½+)—that can reduce overall tax while supporting the causes you care about. Our role is to map the tax effects and coordinate with counsel on structure and language.
End-of-Life Planning, Made Easier
- One-page master list of accounts, contacts, key documents, and digital access
- Copies of beneficiary forms, recent statements, titles/deeds, and key policies
- “First 30 days” checklist: what to pay, pause, claim, and file
- Notes on step-up in basis and how that affects future sales by heirs
- Who files the final return and what records they’ll need
Process & Pricing
Engagements start with a short discovery call and a review of your current will or trust, last year’s return, and recent account statements. We meet to walk through findings and deliver an action memo you can share with your attorney and financial advisor. Pricing is quoted up front after intake. Advisory deposits—$100 for individuals and $200 for complex estates or business-owner scenarios—are applied to your project if you move forward.
Why East Texas Trusts McMullen
As an Enrolled Agent, we prepare and defend the returns that follow your plan and can represent you before the Internal Revenue Service anywhere in the country. Our background with clergy and agricultural clients means we understand dual-status pay, housing allowance, seasonality, equipment timing, and how those details flow to heirs. Because we work line-by-line with real documents, our recommendations are specific, practical, and easy to implement.
Free Estimation
Talk to the Tax Doctor Before You Sign
Before you finalize beneficiaries, fund a trust, or update your will, let’s map the tax impact so your intentions become reality. Based in Palestine and serving East Texas (and beyond), McMullen Tax Services will coordinate with your attorney and make sure the numbers behave the way you expect. Call or email to schedule your estate-planning review today.
