A company is not likely to stay in business for very long if it doesn't bring in revenue. Yet given the weak state of the economy over the past decade, companies have increasingly had difficulty in getting paid for their goods and services. A business attorney i...
When deciding on a name to use for your business, it's best to come up with several options in case you can't legally use your first choice. The Texas Business Organizations Code states that a new business can't use a name that is the same or deceptiv...
LLCs are a unique type of business model that has only existed in the United States since the 1970s. The question of whether LLCs are partnerships or corporations is actually somewhat misleading, for they are really a hybrid of both. As such, they ...
In three previous articles, we covered some steps in handling the estate of a person who died without a valid will in Texas. We also explained some provisions for the surviving spouse and general rules for distinguishi...
The probate process can seem nebulous and difficult to some. This is likely due in part to the complexity of some probates, and the considerable length of time it can take to settle the estate. Not the least of issues laypersons may be confused about is underst...
In our last two articles, we discussed some steps in administering the estate of a person who died without a valid will in Texas, some provisions for the surviving spouse, if any, and the general rules for distributin...
Totten Trusts A Totten trust is an estate planning tool often used to avoid probate for certain assets. While Totten trusts are easy to set up and can be altered/cancelled at any time while the settlor is alive, they do not provide very much protection for your assets. Given this fact, yo...
In our last article, we discussed the first few steps to be done when dealing with the estate of a person who died without a valid last will and testament in Texas. In this article, we pick up where we left off and addr...
When a person dies without a will in Texas, his or her property is distributed according to state laws of intestacy. The word intestacy refers to the decedent being intestate at the time of death, or not having a valid last will a...
Under Texas law, every parent has a duty to support his or her child while the child is a minor and thereafter until graduation from high school. All of a parent's assets may be considered in setting a child sup...
The short answer to this question is yes, but we would be remiss to leave it at that. While a business may use independent contractors exclusively, the owner or manager must be sure they are not actually employees disguis...
A widow or widower's right of election only comes into play if the deceased spouse left a will. If the decedent died without a will, or intestate, then the right of election does not apply. In those cases, the amount of the estate which goes...
An asset protection trust is one which protects assets from unnecessary dissipation and avoidable taxes. It is an estate planning tool used to protect your assets from future potential creditors, while retaining the benefits of those assets for yoursel...
Is a DNR the Same as a Living Will in Texas? A DNR, or do not resuscitate order, is not the same thing as a living will. Essentially, a DNR is a directive noted in the medical chart by your attending physician after consulting with you or your legal representative. Ideally, a physician on...
What Is a Charitable Remainder Trust and How Does It Work? A charitable remainder trust is a way to pledge money or other property to your favorite charity during your lifetime, while reserving some peace of mind for yourself. Some notable benefits of setting up a charitable remainder tru...
If you are contemplating a franchise business venture, make sure you understand the nature of a franchise, including the benefits and drawbacks of these arrangements. While you may be the owner and operator of your business, ...
We receive a number of calls from beneficiaries having problems dealing with executors in probating an estate. Conflicts seem to arise most often when the executor is a stepparent of the beneficiary. These situations can be ...
A prenuptial agreement can be difficult to bring up in conversation with your significant other, especially if you are in the midst of planning a wedding. Will your fiancée take it in stride, having confidence that your love for ea...
With spring in the air and a somewhat stable economy beneath our feet, the time may be right to strike out on your own and give life to your business idea. Whether you desire flexibility in scheduling your time, increased earning potential, or both, give you...
As a Texas Employer, How Does the Lilly Ledbetter Act Affect Me? Political candidates in Texas are still wrangling over whether Texas will pass an equal-pay-for-women act similar to the federal law enacted in 2009. Proponents of the bill say it is necessary to help reduce gender discrim...
There are many situations where you might need to seek legal guardianship of an adult in Texas, such as when your aging parents suffer from dementia, Alzheimer's or another illness which prevents them from handling their personal affairs....
As soon as you cross making a will off the to do list, take a little more time to wrap up the task by storing it in a safe place. Many people keep their wills in a safe or firebox in the closet at home. While that's a safe place most of the time...
If a Texas resident passes away, whether or not they left a will, the authority to oversee the administration of the estate lies with the Texas probate court located where the deceased resided or where the decedent owned...
Is a Crummey Trust Right for My Situation? A Crummey trust can be an efficient, tax-saving way to transfer your assets incrementally, potentially avoiding both estate taxes and gift taxes. Depending on the value of your assets, your tax savings can be significant, especially if your trust...
More often than not, we go about our daily routines, allotting blocks of time for items on the to-do list. We think we have plenty of time to get everything done, and by the end of the day we look back to see that each ...