- Estate PlanningOur office can make administrative duties of an executor, administrator, or personal representative easier. The responsibilities of administering an estate can be overwhelming to a person who suddenly is placed in the position of executor. Estate administration is time consuming and requires a certain level of expertise and knowledge. The process involves identifying assets, setting up and retaining proper records, following accepted procedures, and fulfilling on-going legal and tax requirements. To many who have found themselves saddled with these charges, the responsibilities can be beyond their ability or willingness to serve. A surviving spouse, in particular, may find this responsibility daunting during an already difficult time.
- TrustsServing as individual co-trustees or agents is a role Jack Swallow and Julia Swallow are happy to accept. If appointment of a family member as trustee has been or might become the source of acrimony within a family, we can step in as neutral parties, ready and able to accept the responsibility of trust administration. We take great personal satisfaction in situations in which our appointment by a court in a highly charged situation has freed family members to repair their relationships.
- Power of AttorneyHousehold Administration - Handle personal financial administration (this can include serving as Guardian of the Estate of Minors or Incapacitated Persons, or handling and household bill paying under power of attorney) MORE>>
- ForeclosurePayment of Property Taxe s – Each year ad valorem property taxes must be verified and paid, or risk foreclosure on the interests. Many counties have multiple taxing entities that invoice for ad valorem taxes. We compare tax invoices to our land records to ensure that all invoices are received, are correct, and are timely paid.
- Tax LawFederal Tax Preparation Support - Our meticulous year-round monitoring and record keeping makes tax preparation easier. Year-end reports can be compared quickly and easily to Form 1099s received from oil and gas payors, and promptly submitted to accountants for preparation of state and federal tax returns. Quarterly estimates based on income and expenses as well as prior years' numbers are made to minimize any surprises. As a general rule, we continue to utilize the services of the CPA or accounting firm that was used prior to our engagement. If the client does not already have a CPA, we have a number of professionals in the west Texas area well versed in oil and gas accounting, in whom we have the utmost respect.