The Blog
Starting a new business? Avoid these 5 things.
Starting a new business in Texas is exciting but there are 5 pitfalls we’d love for you to think through first. Do not want you to get in trouble from the beginning. Choosing the wrong business structure. (not everything should be an LLC) Forgetting about protecting...
Stop signing this junk.
We’ve seen a lot of problems when it comes to easements. This is why we want to remind you NOT to sign an easement unless it is crystal clear about the location, width, and terms. A local surveyor can work up a survey showing the exact length, width, and location of...
Were you aware of the dangerous condition?
Hey Rancher! You could have a problem when someone gets injured on your farm when they are participating in a “farm animal activity”. You may be liable for property damage, personal injury, or death to a participant in a farm animal activity or livestock show IF: The...
For the sake of your kids
It is crucial for you and your spouse to have a good Will in place; especially if you have children under the age of 18. Why? Because you must decide who will be the guardians of the kids if something happens to you both. Here is an example of what you need in the...
You have a problem if these aren’t signed
If you do not get these basic estate planning documents signed; you could be creating some significant issues for your family. We talk about it often because it’s so important. Get these in place and be at peace: Last Will and Testament Statutory Power of Attorney...
Meet TODD
Let’s say you own valuable home but do not have many other assets. You may be able to avoid probate if you did not own the home and if you take care of your bank accounts by listing your kids as the POD (Payable On Death) beneficiaries. Question - Can you transfer...
We like this type of business – at times.
S-Corporations are a popular business structure but not always a perfect fit. Pros: Pass-through taxation (no double taxation) Limited liability protection for owners Potential tax savings on self-employment taxes Cons: Stricter operational requirements than LLCs...
Sorry, we don’t have a deal.
Here are the 4 typical “contingencies” you will find in contracts to purchase or sell property. Basically, contingencies will kill the deal. Pay attention to these: Financing – if buyer doesn’t get financing – no deal. Appraisal – if the property doesn’t appraise for...
What to expect when a loved one passes.
It can be overwhelming when a loved one passes away. Then, throw in a probate and it can feel worse but it doesn’t have to be. Here is the simplified overview of what to expect from a probate: File the Will and an Application for Probate. Appoint an Executor. Notify...
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