Business Details
Your Trusted Estate Planning & Business Succession Lawyers in Addison
Smith & Hammond has built a reputation as a trusted legal partner for families and businesses navigating complex estate planning, probate, and business succession challenges. With over 55 years of combined experience, our attorneys specialize in crafting tailored strategies to preserve wealth, minimize tax liabilities, and ensure seamless transitions during life changes or unexpected events. We serve clients across Texas, prioritizing personalized solutions that align with evolving family dynamics and business needs.Our practice emphasizes proactive planning through trusts, wills, and business entity structures while maintaining compliance with federal and state regulations. The firm's enduring relationships with clients and high referral rate from financial advisors underscore our commitment to excellence and client-centric service. We combine technical expertise with practical guidance to address intricate estate and business matters, ensuring long-term security for our clients' legacies.
Services
Estate Planning
Probate
Business Succession
Tax Planning
Asset Protection
Highlights and features
- Our attorneys have over 55 years of combined experience in estate and business law
- We achieve significant federal tax savings through customized planning strategies
- We provide personalized solutions for diverse family and business situations
- 85% of our clients come through trusted referrals from satisfied clients
- We specialize in complex trust and estate issues with tax minimization focus
Services
Estate Planning
Our estate planning services create comprehensive strategies to protect assets and ensure smooth wealth transfer. We develop customized wills, trusts, and advanced directives that minimize tax burdens while honoring client intentions. Our attorneys work closely with high-net-worth individuals and business owners to implement sophisticated planning techniques that address both immediate needs and long-term legacy goals.
Business Succession
Business succession planning prepares family-owned enterprises for leadership transitions and continuity. We design structured exit strategies, buy-sell agreements, and key employee retention plans that maintain business stability during ownership changes. Our approach safeguards company value while addressing tax implications and ensuring seamless operational transitions for closely-held businesses across Texas.
Probate
Probate services guide executors through the legal process of estate settlement. We assist with will validation, asset distribution, debt resolution, and tax compliance while minimizing delays and conflicts. Our attorneys represent personal representatives and beneficiaries in contested and uncontested probate matters, ensuring adherence to Texas probate laws throughout the administration process.
Tax Planning
Tax planning integrates with estate strategies to maximize wealth preservation through legal tax reduction methods. We analyze federal and state tax implications to develop gifting strategies, trust structures, and business entity formations that minimize liabilities. Our approach combines current tax law expertise with forward-looking planning to protect client assets across generations.
Asset Protection
Asset protection strategies shield personal and business holdings from potential creditors and legal claims. We implement domestic and international trust structures, limited liability entities, and insurance coordination to create layered protection. Our planning considers both current risks and future uncertainties while maintaining compliance with evolving regulatory requirements.
People
Gloria A. Hammond
Partner
Partner with 25+ years of experience in estate planning and business succession. Specializes in complex trust structures and tax-efficient wealth transfer strategies for high-net-worth clients.
Questions
What estate planning documents do I need?
Essential documents include wills, revocable living trusts, durable powers of attorney, and healthcare directives tailored to your specific family and business circumstances.
How does business succession planning work?
We create customized transition strategies including buy-sell agreements, leadership development plans, and tax-efficient ownership transfer mechanisms to ensure business continuity.
Can I update my estate plan after creation?
Yes, we recommend regular reviews and updates to reflect life changes, tax law revisions, and evolving business interests.
What happens if I die without a will?
Texas intestacy laws will determine asset distribution, which may not align with your wishes and could create complications for surviving family members.
How do you handle complex family situations?
We specialize in planning for blended families, second marriages, and unique beneficiary arrangements through customized trust structures and gifting strategies.
