The partnership law attorneys are qualified to provide services in the area of partnership law as they have strong backgrounds in corporate law, real estate law, and tax law in addition to being well-versed in partnership issues. The firm provides
tax planning services to individuals and existing businesses in connection with the formation, operation and termination of various types of partnerships including general partnerships, limited partnerships and limited liability partnerships. Additionally, the firm advises clients in the areas of buy-sell planning, diversification of the ownership among the partnerships' employees/owners, and mergers, sales and liquidations of partnerships. The firm also provides tax planning services for its clients related to developing a strategy for operating in a limited partnership format and to minimize Texas state
franchise taxes. These services include planning related to restructuring corporate entities to partnerships for state law purposes.
The partnership law attorneys work closely with the firm's estate planning practice group to assist individual clients with wealth migration and family planning issues. This coordination allows the individual client to obtain an overall management succession plan which is consistent with the client's desires for his or her family in the future and allows such client to provide for his or her family's financial needs in the most tax efficient manner. One tool used to facilitate the client's estate planning goals is the
family limited partnership. By utilizing the family limited partnership as a part of the overall estate plan, clients have the ability to keep assets within the family control to avoid factional ownership interests in succeeding generations and to provide a management structure for succeeding generations by structuring control of the assets in the most capable hands.