Are you an “additional insured?”

Are you an “additional insured?”

You have purchased some rent houses and put them into a newly formed LLC. Good move. You obtained a commercial general liability insurance policy for the LLC.  Good move. Something bad happens at one of the properties.  The injured party sues the LLC and sues you, as...
Are you an “additional insured?”

You don’t own that water.

John owns 100 acres of land with a nice river flowing over it. He wants to take and use all the water from the river but must be careful. He may not have the right to do that. Here is a basic breakdown of law concerning water in Texas: 1) Groundwater is water under...
Are you an “additional insured?”

This guy could be trouble.

Two men are standing in front of you. “Nice Guy” looks kind. Generous. Is smiling. He wants to help. “Bad Guy” looks mean. He is angry and looks like he wants to hurt someone. Actual Cash Value “ACV” insurance policies can be like the Bad Guy. Replacement insurance...
Are you an “additional insured?”

Who is your kid’s guardian?

One of the main reasons to get a good Will signed is to have guardians of your minor children appointed. This is accomplished by including Will language like this: Guardian Provisions If my Spouse fails to survive me, or if he/she dies after my death without having...
Are you an “additional insured?”

Jim’s probate avoided.

Jim owns a valuable home on 3 acres.  He does not have many other assets. His estate would not need to be probated if he did not own the home because he already took care of his bank accounts by listing his son as the POD (Payable On Death) beneficiary.  Question...
Are you an “additional insured?”

Keep this paragraph in your back pocket

Let’s say your company performed some work for Mr. X.  He was pleased with the work.  Wisdom would recommend you have him sign Release of Claims against you.   Something like this: (Mr. X) releases and forever discharges (You and Your Company) as well as the Company’s...