What Is a Trust Account? Trust accounts take varying forms, depending upon their function and the type of trust that is placed in them. In essence, a trust account is used to hold liquid assets that are included in a trust. If you are in need of opening or accessing a trust account, a Col...
Corporate law is a specialization of business law that focuses primarily on corporate entities: their formation, operation, contracts, and other matters. Corporations have come to dominate the financial world and, as such, employ many of the workers and carry on m...
When Is the Best Time to Set up a Miller Trust? A Miller Trust is a very specific instrument designed for a very limited purpose. In most cases, it is used to fund a person's stay in a nursing home, and is created for those whose income is too high to otherwise qualify. It is very importa...
A deed to a house transfers certain property rights in a real estate transaction. They are composed of several elements, as will be seen. When you purchase a home with a loan, you do not receive the deed to the house. This is retained by the mortgage holder; i...
A copyright is a legal instrument that guarantees certain rights to the creator of the work in question. Copyright infringement occurs when someone either mistakenly or purposefully uses the work that is protected in a way that violates the copyright. If you believe...
Who Gets Medicaid? Medicaid is a needs-based program designed to provide individuals and families with health care and assistance. It is funded by both the federal government and the states, but management is left to the states. As such, Medicaid in Texas may differ somewhat from Medicaid...
Why Set up a Trust? The better you plan your estate, the more you ensure that it is distributed in accordance with your wishes once you die. A valuable tool in estate planning is the trust. There are many different types of trusts, and setting them up can be somewhat complicated. A Colleg...
Who Needs a Living Trust? A short answer to this question is that if you have substantial assets, it may be in your best interests to set up a living trust. That said, the question is not really quite as simple as that. A trust can be a great asset for some people, but for others it could...
What Is a Durable Power of Attorney? Power of attorney is an authority granted by one person to manage the financial affairs of another. A durable power of attorney is a specialized type which becomes effective when a person becomes incapacitated and is no longer able to make decisions fo...
A limited family partnership can be an ideal way to pass a family business on to the next generation, and therefore ensure both that it continues and that ownership remains within the family. There are drawbacks and limitations, however, and you mus...
An LLC business, or limited liability company, is a relatively new form of business that has gained popularity due to certain advantages owners enjoy that are not available to partnerships and corporations. It is important to be careful to form the LLC properly,...
What Is a Marital Trust? There are many useful tools to be considered by anyone involved in planning his estate. Each is useful for certain purposes, but deciding what is right for your specific needs can be very complicated. Among these tools is the marital trust. As the name suggests, t...
One of the precarious balancing acts business owners are familiar with is where a business fills a need for goods and services while avoiding negative blowback from the community. Federal and state regulations tend to focus on larger issues, s...
Elder law encompasses various matters that affect the elderly, including appointment of caretakers, healthcare, elder abuse, estate planning, guardianship, long-term medical care, and elder abuse.
Asset protection as it relates to estate planning is the means by which a person ensures that assets are kept safe for distribution to, and use by, beneficiaries after his death. There are many strategies for protecting assets.
Who Is Medicaid For? Medicaid is a healthcare and assistance program jointly funded by states and the federal government. It is designed for people who meet certain criteria such as low income, but poverty alone does not automatically make a person eligible. If you would like information ...
You had to let an employee go and before you turn around you get a notice in the mail that your former employee has filed a claim for unemployment compensation. How do you decide when to fight an unemployment claim and when to let it go wit...
An LLC, or "limited liability company," is a popular business structure offering liability protection and tax benefits without the complexities of a corporation. First established in the 1970s, LLCs provide flexibility in ownership, ease of creation, and a professional image. They shield personal assets from lawsuits and avoid double taxation by passing profits directly to owners. If you're considering forming an LLC, consulting a business attorney can help ensure proper setup and compliance.
Legal guardianship affords the named individual broad powers. There are numerous circumstances in which a legal guardian may be appropriate: for a developmentally disabled child or adult, for minors, and for incapacitated seniors. This article will d...
A real estate lawyer can be integral to the purchase or sale of your property. When you are involved in a real estate transaction you are involved with the largest single purchase most people ever make, and you want to make sure that everything is in orde...
Living Trusts vs. Power of Attorney It cannot be stressed enough how important effective estate planning is. A person who does not develop a plan for the disposition of his assets runs the risk of their not being passed to the intended beneficiaries. The living trust and power of attorney...
Myths abound about various aspects of Texas law, but this one is no myth. A person who trespasses and uses another person's land without the owner's permission may eventually become the owner of that land if certain criteria are me...
Virtually all businesses rely on contracts of one kind or another, whether your business is wholesale, retail or service oriented. Before you send another contract out for signatures, or sign one on behalf of your business, review th...
What to Expect from a Will Contest in Texas Losing a loved one is emotionally devastating. It's normal to be unable to think about anything other than your grief and how to cope with the sudden void in your life. But, if your loved one left a will that seems suspect, or a would-be heir is...
As the old saying goes, good fences make good neighbors. When it comes to keeping your animals from roaming or keeping your neighbor's dog out, the saying rings true. But what if your neighbor builds his fence too close to the boundary line for co...