Starting a business in Austin, Texas, is an exciting venture, but it can also feel overwhelming. You may have many questions, particularly: What is an operating agreement? And do I need an operating agreement? An operating agreement is a foundational document for your limited liability company (LLC), detailing how your business will function daily. It’s meant to establish the...
Continue ReadingHave you ever asked yourself, Do I need an estate plan? If so, you are not alone. Many people hear “estate plan” and imagine something vague and inaccessible. But an estate plan lets you prepare yourself and your loved ones for what to do if you become medically incompetent and when you die. Without a plan, your loved ones...
Continue ReadingNo one wants to leave their family sorting through paperwork and probate court filings when they should be remembering you. Fortunately, in Texas, creating a clear will doesn’t have to be expensive or feel like an ordeal. So, how much does it cost for a will in the Lone Star State? The price depends on your goals, assets, and...
Continue ReadingWhen someone dies, the clock starts ticking. Texas law gives an executor four years from the date of death to file the will for probate. But what if that doesn’t happen? What if the executor does not probate the will, either intentionally or by neglect? The answer can shape what happens to property, debts, and family peace for years....
Continue ReadingIn the Lone Star State, contracts form the backbone of nearly every business relationship. When one party fails to uphold their end of the deal, the fallout can disrupt operations and profits. If you’re searching for contract disputes examples, you’re likely facing a disagreement over a deal that once seemed clear. Most contract issues follow familiar patterns, so understanding...
Continue ReadingWhen a loved one dies without a will, distributing their estate can add even more hardship to a grieving family. In most cases, the decedent’s estate will go through a probate process involving lengthy delays and court oversight. Fortunately, there are some methods heirs can use to receive the decedent’s property without going through probate. A Texas affidavit of...
Continue ReadingA last will and testament is a foundational estate planning document. In a will, you can lay out how you want your assets distributed upon your death. You also name an executor who will oversee your estate. While this concept is straightforward in principle, there are many factors to consider when drafting a will. Most importantly, you need to...
Continue ReadingWhen someone writes a will, their main goal is simple: To make sure their property goes to the right people. However, ensuring that goal becomes a reality in Texas requires understanding how to identify a primary beneficiary vs. a contingent beneficiary and how they work together. Without clear designations, assets can fall into probate or be distributed according to...
Continue ReadingEDITOR’S NOTE: THIS IS A GUEST POST BY JOHN FINCHER, A CERTIFIED BUSINESS INTERMEDIARY IN AUSTIN, TEXAS. JOHN IS NOT AN ATTORNEY, BUT WE ASKED HIM TO SHARE SOME THOUGHTS WITH OUR READERS WHO MAY BE CONTEMPLATING SELLING A BUSINESS. CLICK HERE TO LEARN MORE ABOUT JOHN. Key Takeaways Selling a business is complex and time-intensive: The process often takes nine...
Continue ReadingWhen a person dies in Texas, their estate must be settled and distributed among their heirs. An estate is just a fancy word for describing all the things that a person owns, including their cash and investments. When lawyers talk about “probating” an estate, they simply mean settling the estate against any outstanding debts and liabilities. Whether a person...
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