Tax, Generation-Skipping Transfer Tax, Gift Tax, Private Clients, Tax-Exempt Organizations, Tax Practice, Trust and Estate Administration
Estate planning and estate administration for high net worth clients, with a particular focus on those who have complex trust structures or who own interests in closely-held businesses, family limited partnerships, real estate and oil and gas assets
Paige Ben-Yaacov’s practice focuses on estate planning and estate administration for high net worth individuals. Ms. Ben-Yaacov is a frequent speaker on estate planning and administration topics, and has been quoted in articles appearing in The New York Times.
In Ms. Ben-Yaacov’s estate planning practice, she helps clients develop and implement strategies to transfer assets to their beneficiaries in a manner that minimizes federal gift and estate taxes, preserving assets in the client’s family for future generations. These strategies may include the use of defined-value formulas, sales to intentionally defective trusts, reorganizing closely-held businesses, the creation of generation-skipping trusts, GRATs, QPRTs, family limited partnerships, buy-sell agreements, etc.
In Ms. Ben-Yaacov’s estate administration practice, she helps fiduciaries and beneficiaries understand, fulfill and exercise their rights and responsibilities. Ms. Ben-Yaacov routinely assists executors of estates in obtaining appraisals of hard-to-value assets, filing estate tax returns and funding trusts.
Ms. Ben-Yaacov brings a very personal approach to her practice, building trusted relationships with her clients and their families that provide her with a deep understanding of their needs and desires for their estate planning.
- Assisted owners of closely-held oil and gas business in reorganizing business in order to transfer non-voting stock to trusts for descendants
- Assisted owners of real estate business in consolidating control of various subsidiaries in order to effectively address business succession issues and transfer wealth to next generation
- Advised trust beneficiaries regarding rights to distributions from trusts and powers to determine manner in which trust assets pass upon beneficiary’s death
- Represented co-executors of estate holding oil & gas investments, ranches, other real property, and interests in various closely-held entities; particular aspects of representation included forming entities post-death to hold various assets, obtaining numerous appraisals of hard-to-value assets, preparing estate tax return, and assisting in favorable settlement of audit of estate tax return
Publications, Speeches and Presentations
- “The Price to Be Paid for Keeping Closely Held Businesses Closely Held,” Houston Business Journal, May 6, 2005
Speeches and Presentations
- “Estate Funding Calculations, Timing and Agreements,” Attorneys in Tax and Probate, Houston, April, 2013
- “Formula Clauses: Are Two Donees Better Than One?” Houston Business and Estate Planning Council, April, 2013
- “Defined Value Clauses Explained,” State Bar of Texas, 23rd Annual Estate Planning and Probate Drafting, Dallas, October, 2012
- “Family Limited Partnerships: Practical Tips for Fiduciaries,” Texas Bankers Association Trust Administration Seminar, San Antonio, May, 2012
- “Are We Having Fun(ding) Yet?” Practical Funding Issues Encountered In Estate Administrations, State Bar of Texas, 35th Annual Estate Planning and Probate Course, Fort Worth, June, 2011
- “Focus on Ethics - A Practice Consonant with the Rules,” Project You! Finding Focus In Your Practice, Texas Women Lawyers, March, 2011 (with Gene Major, Mary Jane Mudd, Elizabeth Rogers, Teresa J. Waldrop)
- “How to Give Away the Store – Lifetime Transfers of Family Business Interests,” 21st Annual Spring Symposia, ABA Section of Real Property, Trust & Estate Law, Philadelphia, Pennsylvania, May 2010 (with Neil H. Weinberg, Katten Muchin Rosenman LLP, Chicago, Illinois)
- “WANTED: Family Limited Partnerships (Dead or Alive?),” 23rd Annual Wills and Probate Institute, South Texas College of Law, Houston, September 2008
- “Introduction to Family Limited Partnerships,” American Bar Association E-CLE, Houston, December 2007 (with Stephanie Loomis-Price)
- “Fighting Legal Pitfalls With Family Limited Partnerships: A Practical Guide for Forming, Operating, and Defending FLPs,” Business Valuation Resources National Teleconference, LLC, February 2007 (with Stephanie Loomis-Price)
- “WILL You Be Prepared? Top Reasons to Have a Will, Living Will, Medical Power of Attorney, Financial Power of Attorney, and Guardianship Documents,” Baker Botts Seminar, Houston, August 2006
- “Two Sides to Every Family Limited Partnership: A Practical Guide From Formation Through Audit,” Houston Estate and Financial Forum, Houston, November 2005 (with Stephanie Loomis-Price)
- “Preparing Trust Documents,” Wills and Probate Institute, University of Houston, Houston and Dallas, July 2005
- “Two Sides to Every Limited Partnership: A Guide to Family Limited Partnerships From Formation Through Audit,” Bank of America 2nd Annual Wealth Symposium, Houston, May 2005 (with Stephanie Loomis-Price)
- “Family Limited Partnerships: A Step-by-Step Guide to Limiting Tribulations at Trial,” Estate Planning Council of Central Texas, Austin, March 2005 (with Stephanie Loomis-Price)
- “Changing the Unchangeable: Updating Irrevocable Life Insurance Trusts for Changed Circumstances,” Society of Financial Service Professionals, Houston, February 2003