We design comprehensive estate plans for our clients which meet the individual goals of the family, including reducing or eliminating federal estate and gift taxes, creating a succession plan for the family business, planning for minor or disabled children, preparing for future disability of clients in case of accident or illness, protecting and preserving the family's assets for children and grandchildren, and charitable planning.
We review family dynamics, the various assets of the family and the possibility of potential estate taxes and create a unique plan for each situation. To accomplish these goals, we have many tools available for our clients, including wills, revocable living trusts, gift trusts for children, irrevocable life insurance trusts, family limited partnerships, and disability documents such as financial and medical powers of attorney, a directive to physicians and a declaration of guardian.
Probate and Estate Administration
We represent clients in all kinds of probate matters in Dallas county and surrounding counties, including probate of wills, independent and dependent administrations (for intestate estates), and determination of heirship. We also advise executors, trustees, custodians, agents under powers of attorney and other fiduciaries with regard to their fiduciary powers and duties, and assist with modifying and terminating trust agreements. We prepare federal estate tax returns for larger estates. We assist executors and trusts with funding testamentary trusts.
Protecting assets from potential creditors and preserving those assets for children and grandchildren are an important goal for many families. Various legal tools are available to address these issues, including maximizing use of your exempt assets, agreements to create separate property in the name of one spouse, the formation of trusts to hold assets for children and grandchildren, transferring assets into a limited partnership or limited liability company, and using domestic or offshore domestic asset protection trusts.
Premarital/Postmarital Property Agreements
We advise clients who are planning to marry, and clients who are already married, on their property rights under Texas community property laws and prepare premarital agreements and postmarital agreements regarding the marital and assets and income.We also prepare agreements for the partition and gifting of certain community property and agreements to convert community property to separate property in the appropriate circumstances.