Explore Our Tax And Estate Planning Solutions Especially For Business Owners
At Porter Law Firm in Houston, we approach each tax and estate planning engagement with first and foremost, a desire to understand your needs, goals, and perspective. After that, we craft a personalized and responsive plan that ideally eliminates the probate process.
Our role is not only to protect the wealth and legacy you have worked to build, but also to minimize the exposure for your family so that your assets are safeguarded and distributed promptly, and according to your wishes, maximizing the revenue you and your family keep and minimizing corporate and personal income tax.
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Components Of Effective Tax And Estate Planning
Some of the tax and estate planning services that we provide include:
- Asset protection strategies for business owners and others
- Exit planning with regard to businesses’ end goals
- Retirement planning that takes business succession planning into account
- Family limited partnerships
- Wills, which are foundational to any estate plan
- Living wills regarding health care choices in medical crises
- Powers of attorney that allow selected individuals to manage one’s affairs if necessary
- Irrevocable trusts and other appropriate types of trusts
- Estate planning and business succession planning
If a business is successful, its owner has undoubtedly invested time and attention in customers, professional development and people. What about the financial health of the business? That’s usually placed in the hands of other people (the office staff, the lawyer, the accountant, the payroll processor, the health and retirement plan administrator, and so on). In most cases, the business owner maintains a separate relationship with each advisor. Generally, none of these experts talk to each other until there’s a problem.
At Porter Law Firm, we consult with business advisor clients to maximize the amount of revenue the business owners can keep: Our attorneys can customize a plan for you incorporating sophisticated estate planning methods.
Focused Advisory And Strategic Services For Our Business Clients
Ask us for counsel on any of the following or other business-related legacy planning concerns.
Asset Protection
Small businesses face numerous threats. Those threats can originate in your personal life or from within the business itself.
In the case of a dispute, your business may suffer even if you eventually win: for example, a tax lien could severely impact your cash flow and business continuity. Stay in touch with your business tax and estate planning attorney to discover ways to minimize negative impacts of such occurrences.
Exit Planning
When a small business is launched, “exit strategy” is the furthest thing from the owner’s mind. The immediate focus is on building the business – attracting clients, generating profits, developing as a professional and assembling a team.
But it pays – and pays big – to begin exit planning as soon as you realize it will need to happen eventually. Build the end game into your business plan.
Medical Providers’ Practices
Are doctors “bad business people”? The stereotype has some truth in some cases – many doctors even revel in this image. When physicians and dentist operate their own practices (rather than working for hospitals or clinics), they need to be proactive about their financial lives. Those who don’t risk their standard of living, have the ability to build wealth and the legacy they leave their children. Unfortunately, most independent physicians and dentists are on autopilot.
Our lawyers can take burdens from you while devising effective legacy-building strategies that you can understand and implement throughout the lifecycle of your medical practice.
Ask A Texas Attorney About Estate Planning And Wealth Preservation
There are many ways to protect your assets throughout your life and afterward, for the benefit of your business, your family or charitable causes. Our lawyers enjoy helping clients unlock the keys to achieving their legacy goals.
To schedule a consultation, call 713-621-0700 or send an email inquiry.