Thompson & Knight's Family Office Tax Controversy and Planning attorneys provide comprehensive tax advice to numerous family office clients throughout the United States. Utilizing a multi-disciplinary approach that includes attorneys from numerous practice groups, Thompson & Knight offers innovative tax advice that encompasses every tax-related issue a family office needs.
Our Firm received national rankings for Tax Law, Trust and Estates Law, and Tax Litigation in the 2016 edition of “Best Law Firms,” the preeminent listing of the nation's top legal practices from U.S. News & World Report - Best Lawyers®. Chambers USA High Net Wealth 2016 also ranks Thompson & Knight among the top seven firms in Private Wealth Law in Texas. In addition, Barbara B. Ferguson has been named as one of "The Nation's Top 10 Trust and Estates Lawyers" for six years by United States Lawyer Rankings and Rust E. Reid was named "Dallas Trust and Estates Lawyer of the Year" by The Best Lawyers in America® 2013.
Trusts & Estates
The Firm's estate planning practice is among the largest in the southwestern U.S. Seven of Thompson & Knight's tax lawyers are Fellows of the American College of Trust and Estate Counsel, the most of any firm in Texas. Our trusted family relationships go back as far as 70 years, and it is not uncommon for our attorneys to work with two, three, or even four generations of a family over the course of decades. We counsel on the most sensitive personal family tax issues, from those involving marital disputes and succession planning to executive compensation and retirement plans. Our attorneys have helped our clients to transfer millions - or in some cases, hundreds of millions - of dollars to their families without undue tax cost.
Thompson & Knight represents nonprofit and for-profit entities, as well as high-net worth nonprofit donors, throughout the country to advise them on their organization and operations. Our clients include private foundations, publicly supported charities, arts and cultural groups, academic and religious institutions, professional societies, employee and trade associations, social clubs, universities, hospitals, social welfare organizations, and title-holding corporations. We advise them on their formation, incorporation, tax-exempt qualification, maintenance, reorganization, restructuring, and legal termination, and have special skill at helping individuals with charitable lifetime and testamentary planning.
Thompson & Knight attorneys have a long history of advising and representing our clients in adversarial matters with federal, state, and local taxing authorities, as well as in alternative dispute resolution procedures. Although most tax controversies are settled without litigation, we have extensive trial experience in tax cases involving all types of taxes and for all types of clients, including cases involving major petroleum industry issues, precedent setting estate and gift tax issues and complex partnership procedural and tax issues. We regularly handle Internal Revenue Service audits and appeals contesting tax adjustments, interest, and penalties. When tax disputes become lawsuits, we represent clients in the United States Tax Court, the U.S. Court of Federal Claims, and federal district courts and in the appeal of cases to the U.S. Courts of Appeals and the U.S. Supreme Court. We are proud that Thompson & Knight was one of five finalists nationwide for The Legal 500 US Awards 2014 – Tax Controversy and Mary A. McNulty was also named “Dallas Tax Litigation and Controversy Lawyer of the Year” by The Best Lawyers in America® 2014.
Private Trust Companies
The Firm has helped to structure and create trust companies owned entirely by a single family for the purpose of serving as trustee of that family's multiple trusts.
Executive Compensation and Employee Benefits
Thompson & Knight's executive compensation attorneys work with members of the Firm's tax, labor and employment, and corporate practice groups to assist clients with regard to executive employment, employee benefits, compensation, tax planning strategies. Our attorneys integrate business needs and legal requirements to craft employment contracts, current and deferred compensation agreements, fringe benefits, incentive and nonqualified stock options, restricted stock and stock units, and other equity-based awards. While we regularly counsel individuals on these issues, our main focus is on employers: large and small, closely held, and public companies engaged in a variety of pursuits, including oil and gas, banking, steel, cement, hotel and hospitality services, distribution, retail, manufacturing, and charitable and other tax-exempt activities. We are proud to be ranked among the top firms in the nation for Executive Compensation and Employee Benefits in the 2015 edition of The Legal 500 US.
Partnership Tax Matters
We structure partnership and limited liability company arrangements as pass-through tax entities, developing all necessary documentation in accordance with complex and changing tax laws. Our attorneys have extensive experience in organizing general and limited partnerships, limited liability companies, and family limited partnerships for investments, oil and gas production, real estate and agriculture, research and development, manufacturing and sales, and many other business purposes.