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Starting a new business is an exciting time, filled with the promise of potential success and growth. However, amidst this excitement, it’s crucial not to overlook the importance of creating a well-thought-out exit strategy. While nobody wants to think about a business ending at its outset, it's essential to acknowledge the inevitability of future events—such as disagreements among owners, the passing of an owner, or the complexities of a divorce—that may lead one owner to pursue an exit. The process of getting out of ownership interest in a closely held corporation must be decided at the inception of the company. In this blog post, we'll explore the necessity of planning for these events from the beginning, focusing on the significance for closely held companies.
In Texas civil litigation, the discovery process is a pivotal step for gathering evidence, clarifying facts, and ensuring a fair resolution to legal disputes. Precision and diligence are crucial for attorneys and clients navigating this phase to build a strong case. This post sheds light on the discovery process's importance and key components in a Texas civil lawsuit.
Many clients come into my office wanting to set up a trust. In the state of Texas, trusts are a common tool that clients use to protect their assets. Trusts can be an excellent estate planning device, but they are not the best option for everyone.
Nobody goes into a relationship expecting it to end, but statistics show that the majority of people will have multiple marriages in their lifetime. In the event of a divorce, property will be divided amongst the two spouses. How that property is divided will depend on whether it is separate or community property.
Child support orders in Texas are established to ensure the financial well-being of dependent children when their parents separate or divorce. However, life is unpredictable, and circumstances can change significantly after a child support order is put in place. When these changes occur, it's important to know when and how to seek modifications to child support orders to ensure they accurately reflect the current needs and abilities of both parents. In Texas, this process is governed by Texas Family Code Chapter 156. In this blog post, we'll explore the circumstances under which you can modify child support orders and the steps involved in doing so.
In today's digital age, social media has become an integral part of our daily lives. We use it to connect with friends, share experiences, and express our opinions. However, if you are involved in civil litigation in Texas, it's crucial to understand the potential impact of social media on your case. In this blog post, we will explore why it is wise to shut down social media and let your attorney be your spokesperson during litigation. Remember, what you say online can and will be used against you.
"Death and taxes are the only two certainties in life," as the old saying goes. While we can't control when we'll pass away, we can plan for it to ensure our loved ones are taken care of and our assets are distributed according to our wishes. That's where estate planning comes in. But when should estate planning begin?
Texas is a community property state, meaning all property and earnings acquired during a marriage are equally owned by both spouses. If a divorce occurs, all assets will be divided between the two spouses as per equity decided by a judge unless a prior plan, such as a prenuptial agreement, is in place.
Estate planning is an important process to undertake to protect your family’s wealth for future generations. Trusts are a common tool that grantors utilize to ensure their assets are properly managed both while they are alive and in the event of their death. Different estate planning fees may apply when setting up a trust, and it is beneficial to understand if these costs can be deducted from your taxes.
Making a good deal when buying or selling a business is not as simple as one may think. There are many factors to consider and important decisions to be made prior to the transaction taking place. Read on for tips on how to get the best deal when buying or selling a business.
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