One of the best parts of living in the Lone Star State is its low tax burden. In fact, Texas had the 4th lowest state-local tax burden in the country as of 2022. A major reason for this is that Texas has no state-wide tax on personal income, and it also doesn’t have a state-wide estate tax—something that makes...
Continue ReadingA good entrepreneur knows not only when to jump into a new business venture, but when to shut one down. A business owner might want to end things to pursue new opportunities or avoid legal and financial woes. Whatever the reason, owners of limited liability companies (LLCs) need to follow certain protocols before they can officially and properly dissolve...
Continue ReadingLife can change in an instant. When it does, it is time to update your estate plan. You should update an estate plan after any major life event and, ideally, at least once every few years. Failing to update documents can result in confusion, disputes, and unintended outcomes—such as an estranged relative inheriting your assets or the wrong person...
Continue ReadingIn today’s digital world, people often leave behind more than just physical possessions when they die. From email inboxes to social media accounts, cryptocurrency wallets, and online business tools, digital assets frequently hold emotional and, at times, financial value. In Texas, digital assets do not automatically transfer upon death. Without a clear plan, your loved ones may struggle to...
Continue ReadingProbate is the legal process for settling a person’s estate after death, including paying debts and distributing assets. Dealing with the loss of a loved one is already difficult without having to navigate what to do if that loved one owned property in another state or country. When a deceased person (“decedent”) owned such property, their loved ones often...
Continue ReadingFor a layperson or a small business owner, sometimes it is difficult to tell the difference between a business lawyer and a corporate lawyer. Both sound like they know what happens behind the boardroom doors. But like everything in law, there is usually a reason for specific terminology. If you are struggling to understand whether your situation calls for...
Continue ReadingWhen a business mistreats someone, it might be time for the mistreated party to sue. A business lawsuit can right many wrongs and bring closure in a dispute, but it can also come with a hefty check for the plaintiff. When considering legal action against a business, the natural question is, How much does it cost to sue a...
Continue ReadingOne of the first steps in opening a new business is giving it a name. You will want to choose a catchy, recognizable name that distinguishes your company from the competition. In Texas, the name must also be unique. Fortunately, it is easy to quickly check if your new business’s name is available in Texas. If you have questions...
Continue ReadingMany employment agreements contain clauses about non-competition. You may not have noticed or didn’t pay much attention to the clause when you first signed your employment contract. Businesses rely on non-competition clauses to protect proprietary information and prevent former employees or contractors from using it to compete against them. If you are about to leave your job for a...
Continue ReadingWhen someone fails to comply with the terms of a contract, you may have grounds to file a breach of contract claim. These types of lawsuits are common in business litigation. There are four elements of a breach of contract claim: a valid contract, performance, breach, and damages. In this blog, we define each element of breach of contract...
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