You may have heard that trusts are a valuable estate planning tool, but you may not know much about how they work. In fact, one of the most common questions we receive from clients is, What is a revocable trust? In short, a revocable trust allows a person to place assets into a trust, retain control over those assets,...
Continue ReadingA survivorship deed is a legal document Texans can use to decide what happens to real property (real estate) held by multiple owners when one owner dies. It allows property to pass automatically to a surviving co-owner instead of becoming part of the deceased owner’s probate estate. For many people, this approach offers a faster and more predictable way...
Continue ReadingIf you own real estate in Texas and are considering transferring it to a spouse, child, or family member, you may have heard the term “quitclaim deed.” Texas quitclaim deeds work very differently from what many people expect. State property law treats quitclaim deeds with caution, and what seems like a quick fix today can create title problems years...
Continue ReadingWhen 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. If you need help...
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...
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