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There are numerous tax considerations that may impact the administration of an estate. What is the difference between estate and inheritance taxes? Are they levied

There are numerous tax considerations that may impact the administration of an estate.

  1. What is the difference between estate and inheritance taxes?
  2. Are they levied by both the state and federal governments?
  3. What types of taxes, e.g., income, gift, or death taxes, are imposed or levied by the state of Texas?
  4. Who is responsible for paying taxes of the estate, and what funds are used to pay them?

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