When you go into business with a partner, you expect shared vision, equal effort, and mutual trust. But even the strongest partnerships can falter. A disagreement over finances, growth, or daily management can escalate into a full-blown, business-threatening conflict. If you’re wondering how to handle disputes in a 50/50 partnership, you’re not alone. Equal ownership can make decision-making difficult...
Continue ReadingContracts typically make transactions straightforward and predictable. However, some individuals complicate matters by breaking their promises. A party that breaches a contract could be liable for financial damages or other remedies. Below, we outline five breach of contract examples and what relief might be available for the wronged party. At Massingill, our highly experienced contract attorneys can guide and protect anyone through a...
Continue ReadingNon-disclosure agreements (NDAs) have earned a controversial reputation in recent years, but they are a valuable tool to protect confidential business information. At its core, an NDA is a contract requiring a person not to disclose confidential information. NDAs allow businesses to hire talented employees and build interest in their operations without risking financial harm. Before sharing confidential business...
Continue ReadingMediation is an excellent way to resolve legal business disputes out of court. It is an alternative dispute resolution process in which a mediator acts as a neutral third-party facilitator. The mediator is an impartial party who helps both sides communicate to reach a mutually beneficial agreement. People often use mediation as a cost- and time-efficient dispute resolution model....
Continue ReadingTrusts come in several different structures. One of the biggest differences between trusts is whether they are “living” or “testamentary.” When it comes to testamentary trusts, you can create one through a will, causing it to take effect after the person who makes the will dies. These trusts can control how someone manages and distributes assets over time, helping...
Continue ReadingA will gives clear instructions for handling a person’s property after death. However, problems can arise when an executor ignores or mishandles those instructions. Misconduct by executors can result in harm to individuals and their assets. If you are trying to figure out what to do if the executor does not follow the will, Texas law gives you several...
Continue ReadingWhen someone creates a will, they usually name an executor to carry out their final wishes. The executor manages the estate, pays debts, and distributes property after death. Yet, circumstances can change, leading many people to wonder what happens if the executor of a will dies, either before or after the will takes effect. The answer depends largely on...
Continue ReadingStarting 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...
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