Estate planning is more than transferring property at a specific date in time. It is a process through which you should make thoughtful decisions to care for yourself and others in the event of incapacity or death and then develop a workable plan to carry out those decisions.
We work with clients to structure, draft, and execute an estate plan that is understandable and tailored to each client’s objectives in a tax-efficient and seamless manner.
For those who are interested in lifetime wealth transfer, Akinc Law assists in helping clients identify, understand, and maximize opportunities in a tax-efficient manner. This may include the creation of irrevocable trusts to protect a child from divorce and creditors, intrafamily loans and sale transactions, the creation of a closely held entity to hold rental property or mineral interests, and other planning techniques.
Lifetime wealth planning can also be an educational opportunity for younger generations, and Akinc Law offers working works with families to facilitate the learning process.
If clients own interests in closely held entities, we integrate business succession planning in the overall estate plan and work with advisors to incorporate buy-sell agreements, keyman insurance policies, and other succession tools when appropriate.
Many clients have charitable inclinations which may include fulfilling specific lifetime pledges to creating a structure through multiple generations of descendants are encouraged to give back to their community. Akinc Law can advise and assist in structuring plans to accomplish each client’s charitable objectives in a manner that maximizes the benefits both to the client and charity.
After the death of a loved one, Akinc Law advises fiduciaries and beneficiaries, helping them navigate the legal aspects of probate and estate administration.
Although it is a process, Texas probate is not anything to be feared. We regularly represent executors and administrators in court and prepare documentation to distribute assets in accordance with an estate plan, or if an individual dies without a will, under Texas laws of intestacy.
Akinc Law also handles the preparation and filing of U.S. Estate (and Generation-Skipping Transfer) Tax Returns (Forms 706) for high net worth estates.
We work with trustees to understand the specific terms of the trusts under administration and their fiduciary duties and obligations to trust beneficiaries. This includes, but is not limited to:
Akinc Law also works with estate and trust beneficiaries to explain and advise on matters regarding their rights and options.