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Our Services
Estate Planning
The Klosek & Associates estate planning practice is focused on customized and personalized planning, client service and attention to detail. Our experience and legal knowledge allow us to assist clients in developing the appropriate estate planning solution. We begin our work together by developing the core of the estate plan—wills or revocable trusts and related estate planning documents. For high net worth clients, we balance goals, objectives and practicality in developing creative and customized solutions often extending beyond the scope of basic testamentary and trust planning. Our clients include individuals, families, executives, business owners and hedge fund and private equity fund principals. We also regularly advise clients residing outside of the United States on US income and transfer tax matters and domestic clients with family members who are residents or citizens of foreign countries.
Our estate planning services include:
- Will and revocable trust preparation, including flat fee arrangements for most basic estate planning documents
- Life insurance trusts
- Retirement benefit planning
- Other lifetime wealth transfer and generation-skipping planning
- International and cross-border income and estate tax planning, including foreign trust and company structures
- Charitable gift and family philanthropic planning
- Entity formation and organization
- Specialized property, such as second homes and artwork
Estate and Trust Administration
We advise executors and trustees on a variety of tax and legal issues relating to domestic and foreign estate and trust administration, always mindful of and sensitive to the underlying emotions present following the loss of a family member.
Our estate and trust administration services include:
- Probate of estates
- Transfer of assets, outright and to recipient trusts
- Coordination of estate tax return preparation
- Postmortem tax planning
- Entity formation and organization in connection with estate and trust administration
- Provision of US tax counsel to foreign fiduciaries and US beneficiaries of foreign trusts
Marital Property Planning
We assist single and married clients with the negotiation and preparation of premarital, marital and cohabitation agreements and continue to assist clients with meeting their responsibilities under such agreements, including the preparation of wills, trusts and other documents that may be required. We also counsel clients who wish to maintain separate property in the absence of these agreements. In connection with divorce, we advise clients and their divorce counsel regarding the formation of trusts and entities to assist in the ongoing management of assets.
Tax Exempt Organizations
We represent clients seeking to form charitable organizations and counsel existing charitable organizations, including public charities and private foundations. For clients forming new charitable organizations, we advise on choice of entity, governance, ongoing operation and grant administration and work to obtain tax exempt status for these newly established charities under federal and Texas law. For our public and private charity clients, we provide various nonprofit corporate law services, including advice with respect to amending and restating organizational documents, mergers, consolidations, reorganizations and terminations, as well as advising charities regarding their ongoing operations and activities consistent with their tax exempt purposes. We also act as general counsel for several charitable organizations.
