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Family Office Tax

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.

Overview

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.

Trusts & Estates

The Firm’s estate planning practice is among the largest in the southwestern U.S. 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 transfer millions or, in some cases, hundreds of millions of dollars to their families without undue tax cost.

Exempt Organizations

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.

Tax Controversies

Thompson & Knight attorneys have a long history of advising and representing 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.

Private Trust Companies

The Firm has helped 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 including 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.

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.