Trusts, Estates, and Will Administration Attorneys in Dallas, TX
In Texas, three codes govern trust, estates, and wills administration:
- The Texas Trust Code regulates the creation, maintenance, and administration of trusts in Texas, including revocable living trusts or trusts created in a decedent’s will. Trusts can be modified by the trustor, while court-created trusts must follow court orders.
- The Texas Probate Code governs the transfer of a decedent’s property when the
- decedent dies intestate (without a will).
- The Texas Property Code covers every aspect of property ownership, transfer, and more, including real property, tangible personal property, and intangible assets.
With these codes in place, the process may seem straightforward—but without careful legal
guidance, complications can arise.
Why You Need Experienced Guardianship, Property, and Tax Attorneys
Building, maintaining, and passing wealth to who you want, how you want, and when you want while minimizing waste and loss is complex. You may have minor children who need protection and guidance if you become disabled or pass away. Additionally, you may need guardianship for your person and finances. Guardianship over your minor children may become necessary at some point in your life. This process is filled with arcane legal doctrines such as per stirpes, rule against perpetuities, dead hand control, and intricate complex state guardianship laws—and these are just the beginning.
At Coleman Jackson, P.C., our seasoned estate planning lawyers help you choose guardianship for yourself if you become incapacitated, and most importantly, for your minor children to ensure they are cared for and raised according to your values.
Additionally, our property and tax lawyers can help you avoid the waste that often occurs during probate accountings, and protect you from malfeasance, incompetence, and self-dealing by trustees and administrators. We can also guide you and your beneficiaries through the complex maze of federal and state inheritance and gift tax laws. For example, did you know that if a gift giver fails to pay the gift tax, a special gift tax lien attaches to the gift? The beneficiary becomes personally liable for this federal gift tax for up to 10 years.
There are also many nuanced tax laws related to personal injury recoveries. For instance, personal injury awards, whether recovered by judgment or settlement, are subject to federal taxation unless the agreement specifies the portion attributable to physical or mental injuries. Even then, any punitive damages awarded are always included in your gross income for federal tax purposes. With all these complexities, much can go wrong.
How Coleman Jackson, P.C. Can Help You with Estate, Property, and Tax Planning
At Coleman Jackson, P.C., our experienced estate planning attorneys, property attorneys, and tax counsel can help you achieve your goals of preserving, protecting, and distributing your wealth according to your wishes, all while minimizing waste, loss, and tax liabilities throughout the process. We work to safeguard you from mismanagement by trustees, personal representatives, appointed guardians, and to protect your estate from unnecessary legal complications.
Our Services include:
- Special tax counsel for your personal injury lawyers
- Asset protection strategies
- Estate planning, including wills and trusts
- Trust administration disputes and litigation
- Gift, inheritance, and tax planning
Contact Our Experienced Estate Planning Attorneys and Counselors Today
Contact the skilled estate planning, trusts, gifts, inheritance, and personal injury tax attorneys at Coleman Jackson, P.C. at 214-599-0431. We are ready to skillfully advise, compassionately counsel, and vigorously advocate for you, your heirs, and beneficiaries.
