| Read Time: 4 minutes | Business Law

How to Dissolve a Business Partnership in Texas

Business partnerships come to an end for many reasons, some good and some bad.  Notwithstanding the reason, you and your partners have a legal obligation to dissolve and wind down the partnership business responsibly. In addition, it’s personally smart for you to wind down the business partnership so as to protect your personal assets and to bring a final...

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| Read Time: 4 minutes | Business Law

Piercing the Corporate Veil: What to Know

Most small business owners make the mistake of assuming that once they have set up a corporation or limited liability company, they and their personal assets are protected from liability. As a result, they do not take any further action to sustain limited liability protection. Or worse, they take actions that weaken limited liability protection. In this guide, we...

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| Read Time: 4 minutes | Business Law

Why Buyout Provisions Are Essential to Your Texas Partnership Agreement

People enter into small business partnerships based on a common interest and a common vision. The hope for the future of your business tends to drive all decisions. But these halcyon days almost always pass and difficulties and disagreements arise. Therefore, the smartest foundational business decision you can make is to hope for the best and prepare for the...

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| Read Time: 4 minutes | Business Law

What Are Your Rights When Your Business Partner Is Trying to Sabotage Your Business?

When we think of workplace sabotage, a disgruntled employee sabotaging the company usually comes to mind. But sabotage can also happen at the partner level. It is distressing, to say the least when your once-trusted partner is sabotaging the business you built together. At one point you both were of common mind with a common vision looking to build...

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| Read Time: 4 minutes | Business Law

Why You Should Have an LLC Operating Agreement in Texas

The creation of the limited liability company (LLC) as a business entity was transformative for small businesses. It took the best of the C corporation and partnership models and also perfected the intentions behind the S corporation. However, an LLC without an operating agreement is but a shell. To truly realize the potential that an LLC business model provides,...

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| Read Time: 5 minutes | Business Law

Breach of Contract in Texas: What to Know and Steps to Consider

Contracts form the foundation of all economic transactions, whether international commercial deals or weekly mowing of the front lawn. However, things don’t always go as planned. Therefore, when you rely on the other party to perform and they fail to do so, there could be a breach of contract and a claim for damages. In that event, what do...

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| Read Time: 3 minutes | Estate Planning

Holographic Wills in Texas: What You Should Know

Not all states recognize handwritten wills—also known as holographic wills—as valid. Every state has its own rules, so a will can be valid in one place but not another. Handwritten wills in Texas are not only valid but just as effective as a typed will. That being said, a handwritten will is not the most reliable way to transfer...

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| Read Time: 4 minutes | Estate Planning

What Are an Estate Executor’s Responsibilities in Texas?

When someone passes away, the executor is in charge of handling the decedent’s estate. From finding assets to paying taxes to distributing real estate, the executor has a lot to do. Let’s walk through the different responsibilities of an executor of an estate.  What Is an Executor of a Will? An executor, sometimes called an administrator or personal representative,...

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| Read Time: 4 minutes | Estate Planning

What Are the Requirements of a Valid Will in Texas?

A 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...

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| Read Time: 4 minutes | Estate Planning

What Is a Bequest in a Will in Texas?

One of the most important decisions to make when estate planning is deciding who will inherit your assets. Your last will and testament will include these decisions in the form of bequests.   So what does bequest mean in a will? Generally speaking, a bequest is how you instruct who gets what when you die. There are many different kinds...

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