Do I Need an Estate Plan? If you have an opinion about what happens to you and your property if you become incapacitated and when you eventually pass away, then the answer is yes, you need an estate plan. Your estate includes everything you own, including partial interests in property....
Prospective business owners are energetic and excited about the future and we love getting the opportunity to help clients start new businesses. We know Texas business law and can guide clients through the process, ensuring compliance with appl...
Shareholders are entitled to the protections afforded by the fiduciary duties outlined in the Texas Business Organizations Code. If you are a shareholder in a corporation and are experiencing a dispute or breach of these duties, a Conroe Texas shareho...
When someone in Texas dies, with or without a will, the Texas probate court where the deceased resided has authority to oversee administration of the estate. The person responsible for managing the estate through the probate...
Revocable and Irrevocable Inter Vivos Trusts The federal estate tax is currently set at 40 percent and is assessed upon gross estates valued at $5.25 million or greater. While this threshold may seem high, it encompasses all property both personal and real. Many farmers, ranchers or other...
Contractual obligations are prevalent in nearly every facet of society, from home improvements to retail sales. If you are experiencing a breach of contract, whether in the course of business or in a personal arrangement, a College Station, Texas contracts...
Tortious interference refers to an intentional damaging of contractual or business relationships. Such cases can be very challenging to litigate; therefore it is important to have a strong and experienced Conroe business attorney in your...
Partnerships can be challenging. Friendships end, partners have different visions of growing the company, or financial matters arise. A dispute between partners often requires a bit of finesse. A Montgomery County busine...
A trademark is a word, phrase, design, etc. by which a business entity is uniquely distinguished. A strong trademark can greatly enhance a business' ability to be “seen” on billboards, in magazines, on the Internet, and els...
In our last article for businesses, we identified some necessary equipment lease agreement terms and defined the purpose of each. In this article, we highlight some additional terms to consider adding to a standard lease agreement. As always...
If your business leases equipment to consumers or other businesses, take the time to have an experienced business law attorney review your standard lease agreements periodically. Laws are constantly changing, and a knowledgeable professio...
A College Station business attorney at Peterson Law Group is particularly adept at helping you and your business should a contract dispute arise. Simply put, a breach of contract is the failure of an individual or ent...
What is a Bypass Trust? A bypass trust is a long-term asset transfer planning device. If you leave property to someone in the form of a bypass trust, the property in the trust will be subject to estate taxes when you die, but will not be subject to estate taxes when the trust beneficiary ...
Using a Crummey Trust to Shelter Life Insurance Proceeds We've discussed Crummey Trusts recently, including the purposes of Crummey Trusts and their advantages and disadvantages. In this article, we discuss another purpose for a Crummey Trusts — sheltering life insurance proceeds from bot...
What Are the Pros and Cons of a Crummey Trust? We recently talked about the benefits of establishing a Crummey Trust to avoid estate taxes and gift taxes. In this article we'll discuss the pros and cons of a Crummey Trust in more detail. The primary benefits of a Crummey Trust are as f...
What is a Crummey trust? A Crummey trust enables a person to give away assets incrementally to avoid two types of taxes — estate taxes and gift taxes. The federal estate tax exclusion for a person who dies in 2013 is $5.25 million. This means the first $5.25 million of your net estate ...
What Will Your Children Inherit If You Die Without a Will? Until someone discovers the Fountain of Youth and offers its waters up for sale, we will continue to age until we inevitably pass on. When you are gone, your worldly possessions will need to be distributed. People typically believ...
What Are the Differences Between a Durable Power of Attorney, a Standard Power of Attorney and a Living Trust? Durable Power of Attorney vs. Standard Power of Attorney A power of attorney is a document that gives one person authority to act for another. A durable power of attorney is ...
For many people preparing to wed, signing a prenuptial agreement is a wise decision. A prenuptial agreement is especially important for individuals who are marrying after they have accumulated a significant amount of wealth and/or have children from a previou...
Which Do I Need — A Will or a Living Trust? The short answer is both, because each document serves a different purpose. Though we'd rather not dwell on the fact that death is inescapable, there is great peace of mind knowing that your affairs are in order. Every person, regardless of age...
When a loved one dies, there are several things that must be done. One of the most important tasks to attend to is your loved one's will. In Texas, as in most other states, a will must go through probate in order to determine its validity, ...
Discrimination in the workplace is wrong, but in today's litigious society complaints are sometimes raised without any real foundation. In Texas, anyone can file an employment discrimination complaint through the Texas Workforce Commi...
If you are starting a new business as a sole proprietorship, federal income tax requirements may be one of your concerns. Here is some basic information. Federal taxation is a highly technical subject. A qualified Bryan Texas business at...
Many new business owners choose to organize their businesses as limited liability companies because this form of business provides some of the best qualities of a corporation and a partnership. An LLC offers its members ...
The ABCs of Making a Will – Three Big Requirements There's not much point in making a will if it won't stand up to a challenge after you're gone. Dying with an invalid will has the same effect as dying with no will — your assets will be distributed based on a standardized method under Tex...