Forming a limited partnership in Texas may be one way to limit losses in your business while retaining financial benefits. Texas trust law explains that some people use limited partnerships as an estate-planning device to ensure the safety of their invested capital. ...
Firm News
Is it time to change your estate plan?
As a Texas resident, you have spent valuable time and effort writing your estate plan. At the time you wrote it, you ensured it covered every necessity. You know that it met your needs. But what about now? Needs change along with your life on a whole. You should know...
Stress management and will contests
When a will is disputed, many hardships arise for those involved. Sometimes, these challenges create hardships for the entire family, which is especially troubling when loved ones are already dealing with unmanageable emotions following the loss of someone who was...
Reduce conflict when succession planning
For many business owners, succession planning is far more stressful than the rest of their retirement and estate planning process. In their eyes, far more important than what happens to the house or car or 401(k) is what happens to the business they have put their...
How can you choose a successor for your company?
When you own your own business, it can be difficult to decide what happens to your business when you retire. More often than not, you will have to choose a successor. Forbes has some tips on choosing a successor for your company. Do not wait around to plan your...
How do you choose the right executor?
When Texas residents like you create an estate plan, you need to select an executor. The executor is a crucial component. They will meet your requirements and wishes after you pass on. They manage your estate and ensure that everything goes in accordance to your will....
Pursuing a claim against a deceased debtor’s estate
People die with unpaid debt every day, and if creditors such as yourself did not have a way to seek payment, many companies would not be able to stay afloat. We often help creditors to file claims against the estates of those who owe them money, and to take further...
Am I responsible for debt after my death?
While it may seem like you should have all debts wiped clear after you die, that is not actually what happens. You cannot get out of some debts that easily. NerdWallet explains that the government and creditors may go to your estate for money you owe to them after...
What are the duties of an executor?
Estate planning is about preparing for what happens after you die. Because you will not be here to make your wishes known, you will create legal documents that state your wishes. However, even with those documents, there needs to be someone who can oversee and manage...
What are some common business succession strategies?
Executing a business succession plan is crucial for the continued success of your business. Most small business owners fail to plan for the future. About 60 percent of small businesses have not prepared a plan of transition. Understanding the common ways companies are...