The United States is the number one place to be sued in the world, with Americans filing over 40 million lawsuits each year. If you become involved in a civil lawsuit, you may want to know if the case could turn criminal or vice versa. This article will explain the difference between the two types of cases and how one lawsuit can trigger another.
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.
There are a few exceptions to what is considered community property in Texas, including inheritance. Inheritance is not considered community property. It is the separate property of the spouse who received it. However, if the inheritance becomes commingled with community assets during a marriage, it can become community property. To protect your inheritance in the event of a divorce, it is important to ensure that it remains separate from other assets throughout the marriage.
Ending a marriage is a difficult decision for anyone to make, and there is no such thing as a simple divorce. It’s important to know that there are many actions you can take to help you through the process and make it as smooth as possible. Here are the first steps you need to take once you’ve made the decision to get a divorce.
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.
Self-help is the process of solving one’s own legal disputes without the help of a lawyer. Many individuals attempt to resolve legal disputes on their own. However, self-help can be dangerous if you don’t know what you’re doing and could potentially lead to more serious consequences. In the United States, courts do not have to recognize private agreements when there is an issue of equity known as fairness or if a party claims lack of full disclosure or knowledge. Beware of settling a dispute informally when there is no suit pending before the court, as you can end up making things worse in the long run. You should know the common pitfalls of utilizing self-help in legal disputes and how to avoid making those mistakes.
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.
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.
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.
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