When a business partnership ends, disputes often arise around asset division, valuation, contracts, and compensation. Understanding the potential areas of disagreement can help partnerships end more smoothly with a Texas lawyer.

Dividing Assets and Property

One major source of partnership breakup disputes involves determining ownership and dividing tangible and intangible assets. Equipment, machinery, intellectual property rights, customer accounts, and real estate can all spark competing claims, especially if contributions are unequal or partnership interests are informal. Coming to an agreement on who gets what assets without extensive litigation often benefits all parties.

Disagreements Around Business Valuation

Figuring out the total current value of a Texas business being dissolved is a key step for a fair and equitable separation. However, partners rarely see eye-to-eye on valuation methods or accounting specifics. For example, disputes may arise regarding how to treat accounts receivable, determine inventory value, calculate goodwill, or handle minority share discounts. Hiring a professional forensic accounting and independent business appraisals upfront when initially separating can prevent prolonged financial disputes down the road.

Planning for the inevitable is a responsible and thoughtful act. While many people are familiar with using a will to distribute their assets, the question arises: can you plan for your funeral in a will? Yes, you can. If you are looking to add this to your will or are starting your will from scratch, contact an experienced lawyer to help guide you through the process of adding funeral arrangements to your will. 

Funeral Wishes in a Will

Wills are very important legal tools to include in your estate plan to ensure your estate is not subject to Texas intestate laws upon your death, which is what happens if you die without a will. While a will is a legal document that primarily deals with the distribution of assets, it is possible to express your funeral wishes within it. However, it is important to note that funeral arrangements are not legally binding in a will. This means your loved ones are not legally 

obligated to follow the instructions outlined in your will regarding funeral arrangements. 

Estate planning is all too frequently associated with people who have significant assets or are high-income earners. However, regardless of wealth level, having a will is truly essential for everyone. Recently, we wrote a blog detailing the considerations for upper-middle-class individuals looking to create a will. We will now discuss considerations for low-income people and why they, too, should make a will. For help getting started in estate planning, contact an experienced lawyer to get started.

Asset Distribution

Regardless of the amount or type of assets you possess, a will enables you to dictate how those assets will be distributed once you die. If you die without a will, your assets will be distributed according to the Texas laws of intestacy, which may not correspond with your wishes or benefit your loved ones. By having a will, you can designate specific beneficiaries and ensure that your assets are allocated as you desire, regardless of their value.

Avoiding Probate Complications 

Having a will can help simplify the probate process, even for low-income earners. Probate is the legal process of confirming a will and distributing its assets according to its terms. Without a will, the probate court will determine how your assets are distributed based on state laws, which can be time-consuming, not to mention costly. By having a will, you can streamline the probate process, potentially reducing costs and ensuring a smoother transfer of your assets to beneficiaries.  

In today’s fast-paced world, it is easy to overlook the importance of estate planning, especially for those in the upper middle class. Many individuals mistakenly believe that wills are only necessary for the ultra-wealthy or the older members of society. However, regardless of your net worth or age, having a will is crucial to ensure your assets are distributed according to your wishes. If you are part of the upper middle class and are looking to create a will, contact a lawyer to begin the process. Your lawyer will walk you through the process, ensuring your legal goals can be pursued.

How Do I Know Whether I Am Part of the Upper Middle Class?

The term “upper middle class” refers to a socio-economic group between the middle and upper classes. While there is no universally agreed-upon definition, it generally includes individuals or households with above-average incomes, significant financial stability, and a comfortable lifestyle. Upper-middle-class people often have professional careers and advanced education, and enjoy a higher standard of living compared to the average middle-class population. However, it is important to note that the definition of the upper middle class can vary depending on factors such as location, cost of living, and cultural context.

Distributing Assets as An Upper Middle-Class Person

Without a will, your estate may be subject to Texas intestate succession laws, which determine how your assets are divided among your heirs. By having a will, you can specify who will inherit your property, financial assets, and personal belongings. This ensures that your loved ones are taken care of according to your wishes and can help prevent disputes among family members after your passing.

In medical emergencies, people have the right to make decisions about the type of care they receive, including whether they wish to be resuscitated. Do Not Resuscitate (DNR) orders and advanced medical directives in Texas are legal documents that allow individuals to express their preferences regarding life-sustaining treatments. If you are interested in creating an advanced medical directive in your estate plan and you live in Texas, contact a lawyer to begin the process today. 

What to Know About Do Not Resuscitate (DNR) Orders 

DNR orders are medical directives that instruct healthcare professionals not to perform cardiopulmonary resuscitation (CPR) in the event of cardiac arrest or respiratory failure. DNR orders are typically issued for individuals or those who are approaching the end of life. Discussing your wishes with your healthcare provider, who can assist in documenting and implementing the DNR order according to your state’s regulations, is crucial.

What to Know About Advanced Medical Directives (AMDs)

AMDs are legal documents that allow individuals to express their healthcare preferences in various situations, including end-of-life care. AMDs typically include a Durable Power of Attorney for healthcare and a living will. A Durable Power of Attorney for Healthcare designates a trusted person to make decisions on your behalf if you are unable to do so. A living will outlines your specific treatment preferences, including the use of life-sustaining treatments like CPR, artificial nutrition, or ventilators. 

As a fiduciary, your main duty is to always act in your clients' best interests, which can be quite a challenge, especially if you are not a lawyer or an accountant. This is why you might want to think about getting an attorney to guide you through your fiduciary responsibilities.

Why Consider Legal Help as a Fiduciary?

Getting legal representation as a fiduciary offers multiple advantages. A lawyer can break down your fiduciary duties and what you are responsible for. They can also give you advice on the best ways to fulfill these duties.

Having a good attorney can also help you avoid legal problems. They will go through your contracts and papers to make sure everything follows the rules. If any issues come up with your clients, they can help sort them out.

A Power of Attorney (PoA) and a health care proxy are both legal documents that allow you to appoint someone to make decisions on your behalf should you need it. However, they have different purposes and grant different powers to the person you appoint.

Key Differences at a Glance

In Texas, both powers of attorney and health care proxies must be in writing and signed by you in front of two witnesses. They must also be notarized and will only take effect in the event you are incapacitated.

Here is a summarized list of the key differences between powers of attorney and health care proxies in Texas:

Making an estate plan is not normally something a person does once and can then forget about. Your estate plan is a dynamic set of instruments and in almost all cases, you can change your plans at any time. If you have recently experienced a significant life event, it may be time to update your estate plans to reflect the change. Few people would want their ex-spouse to remain listed as a beneficiary, or inadvertently omit a new family member. It is important to regularly revisit your estate planning documents to check whether the plan you have on paper is still the plan you want. You may wish to change who your beneficiaries are or update your documents to reflect a new home state’s laws. It is best to visit an estate planning attorney after any major life change so that you can be sure that your plans still reflect your wishes. 

Life Events That May Trigger a Change in Estate Plans

Especially when there are changes in the structure of your family, it is best to update your estate plans as soon as you are able to. Common life events that trigger people to change their estate plans include: 

• A new baby - If you have a new baby, you will likely need to update your will for the purpose of naming a contingency guardian. If you do not name a contingency guardian for your child, the court would likely choose someone and it may not be the person you would want to raise your children.

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Most residential landlords hope to avoid a situation in which they must legally evict a tenant. If you own a residential property you rent out, you likely use a variety of screening tools to help you avoid renting to someone you might have to evict. You likely ran a check of any prospective tenant’s finances to verify that they would be able to pay the monthly rent. You probably also ran a criminal background check to help reduce the likelihood of getting a tenant who would use your property for illegal purposes. You may have even contacted an applicant’s previous landlords to see whether they have a history of violating residential leases. However, circumstances can always change. Even if you are very careful about screening your tenants, a number of issues can appear well after the lease is signed. If you are beginning to believe that you may need to evict a tenant to protect yourself or your property, it is best to involve an attorney from the outset of the eviction process. 

Common Reasons Residential Tenants Can be Evicted

Although most residential landlord/tenant law is designed in favor of protecting the tenants, landlords have protections as well. Common reasons a landlord may be able to evict a tenant include:

• Nonpayment of rent - Nonpayment of rent is likely the most common reasons that tenants are evicted. Many things can happen in the lives of renters that prevent them from continuing to pay rent each month. While it may not always be the tenant’s fault they are no longer able to pay rent, it cannot be the landlord’s duty to continue allowing them to live there once the tenant is in arrears. 

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Non-compete and non-disclosure agreements are important tools that employers can use to protect their business interests. These agreements can help ensure that employees do not disclose confidential information or trade secrets, and they can prevent former employees from competing with an employer after the termination of their employment.

In Texas, non-compete and non-disclosure agreements are enforceable if they meet certain legal requirements. To enforce such agreements successfully, employers must understand these requirements and ensure they take the appropriate steps when drafting contracts. An employer can work with a business litigation attorney to determine the appropriate steps to take to address violations of these types of agreements.

The Enforceability of Non-Compete Agreements

A non-compete agreement, also known as a covenant not to compete, restricts an employee's ability to engage in work that competes with the employer’s business within a specific geographic area and for a limited period of time after leaving the company. For a non-compete agreement to be enforceable in Texas:

If you are just beginning to think about estate planning, you may be wondering what types of documents you need. Highly sophisticated estate plans may involve multiple types of trusts, each serving a different specific purpose, in addition to a will. However, most people do not need a plan this complex. Most people can address all of their testamentary estate planning using just one or two documents. One of the first things you will need to consider when you begin estate planning is whether to use a trust, a will, or both. While either may be sufficient by themselves in some situations, it is often advisable to use both. It is important to speak with an experienced estate planning lawyer who can help you make this decision. Your ideal estate plan depends significantly on your financial and family situations. 

Why Should I Use a Trust?

A trust is much more protective of your estate property, and often much easier for your beneficiaries to navigate. Property that is contained in a trust at the time of your death does not need to pass through probate. Probate can be expensive and time consuming for all involved. Control of your trust can pass directly to the person you have designated as your successor trustee. The successor trustee can begin making distributions to your beneficiaries with little oversight. 

Why Should I Use a Will? 

A will is the quintessential estate planning document. You can use a will to specify who should receive what property from your estate - although this can also be done using a trust. However, having a will is still important. If you have minor children, you must use a will to designate the person you would want to have guardianship of your children in case you pass away while they are still minors. While the court will still have the ultimate decision-making power in this regard, they tend to defer to the parents’ selection. 

Losing a loved one can cause people to act in ways they normally would not. Grief over the death of a family member can drive people to take actions like filing a will contest. Even if you have no reason to suspect that your survivors would challenge your will, it is wise to take steps to reduce the likelihood that your will could be contested. Your surviving family members who are not named as beneficiaries in your will could potentially put the people you want to receive your estate property through a prolonged legal battle if your will is contested. Fortunately, an attorney can help you to organize your estate plan in a way that reduces the risk of a will contest in the future. It is best to work with an attorney who can offer you comprehensive estate planning services. There is much more to making a strong estate plan than executing a will. 

Ways to Reduce the Risk of a Will Contest 

Will contests can be destructive to a family. It is best to prevent one if at all possible. Strategies you may want to consider for reducing the risk of a will contest include: 

• Use a trust - If most or all of your estate property is contained in a trust, it will be much harder for non-beneficiaries to initiate a challenge. Those not named in the trust generally do not have access to the trust document, where a will must be made available to the public. 

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It is easy to think of estate planning as being for only the elderly. This line of thought makes some sense. Elderly individuals are more likely than younger people to pass away in the somewhat near future. Certainly, if you are a senior citizen and you do not yet have a will, it would be wise to make one as soon as you are able to. However, it is very important for younger to middle-aged adults to begin their estate planning early on in their adulthood. While many younger adults wish to avoid thinking about their own mortality, it is important not to delay making a will and getting any other needed documents in order. Life can be unpredictable, so it is best practice to be prepared. There are several reasons for this. When you are ready to begin making your will, you should begin by contacting an attorney. 

Reasons Younger Adults Should Begin Estate Planning 

While it might not be comfortable to think about, anyone can pass away at any time. Even if you are not yet a senior citizen, it is better to begin planning early for reasons including: 

• Capacity - The test for mental capacity to make a will is conducted according to a higher standard than the test for general legal capacity. To execute a will, you must first show that you have the general legal capacity needed to sign most documents for yourself. Then, you must also be able to show that you understand the document you are signing, that you have a general understanding of what assets you own and how you would want them distributed, who your beneficiaries will be, and the general effect of a will. This can be difficult for people who have already begun to suffer aging-related mental impairments, so it is better to do it before these effects set in. 

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There are times when two parties to a contract each think that it says something different. They could up taking this business dispute to court, when one or both parties file their own lawsuits. Then, the court is called up to decide exactly what the contract says. There is a hierarchy of contract interpretation that comes from common law, and courts have used it for some time.

The Plain Language of the Contract Controls

The court will first analyze the exact language of the contract, giving meaning to the clear words of the document. The inquiry will begin within the “four corners” of the document. If the language of the contract is clear, the court needs to go no further, and it will decide the case. It is only when there is some ambiguity in the language that the court will then need to go further.

In general, courts do not like to read contracts in a way that would yield patently absurd interpretations. The court tries to read the contractual language reasonably. 

In Texas, real estate deals go through several stages. Sellers and buyers need to know these stages to understand the process and feel confident while navigating the real estate market. We will examine the four primary phases of a Texas real estate deal.

Pre-Contract Stage

Preparation is key before a contract is signed in a real estate transaction. For sellers, this stage involves hiring a licensed real estate agent. The agent will complete a comparative market analysis to assess the property's value. Next, they will develop a detailed property listing. On the flip side, buyers generally cooperate with a realtor and may additionally have to secure financing from a lender.

Contract to Closing Stage

The next step involves the buyer’s agent presenting a written offer for the property. There may be counteroffers and negotiations, but once an agreement is reached, both parties sign the official sales contract. The buyer must provide earnest money funds submitted to the title company along with the contract. The title company orders a survey, reviews the title commitment for any problems, and provides the buyer and lender with the title commitment.

When a loved one passes away, the last thing you want to deal with is a contested estate. Unfortunately, these disputes can arise for many reasons, including when there are allegations of undue influence. Undue influence occurs when someone uses their position of power or trust to manipulate the testato–the person making the wil–into making decisions that do not reflect their true wishes. Undue influence can be a significant factor in contested estates and a major source of contention. If you believe undue influence was a factor when your loved one made their will, contact an estate planning attorney to learn about your options. 

What You Need to Know About Undue Influence

Undue influence can take various forms. For example, a caregiver responsible for an older person’s daily care may use their position to influence the person’s decisions about their estate. They may encourage the person to leave them a larger share of the estate than other family members. Other examples of undue influence include threats or coercion, lies or deception, or taking advantage of a person’s mental or physical weakness. 

When undue influence is suspected, it can lead to a contested estate. This means that one or more parties are challenging the validity of the will or trust. To contest an estate on the grounds of undue influence, you will need to prove that the testator was manipulated into making decisions that did not reflect their true wishes. 

Planning for the future is an essential aspect of caring for your family members and other loved ones, and this includes writing a will. Your will describes how your possessions are distributed to beneficiaries and serves as a notice of your final wishes. In this blog, we will discuss what happens if an individual passes away without a will, known as dying intestate. Texas law specifically describes how assets are distributed in the event that a person passes away before he or she creates a will. Read on to learn more.

Distribution Of Assets If a Person Dies Intestate

If you do not create a last will and testament, you give up the right to decide how your property is distributed to family members upon your death. Instead, state laws dictate how assets will be distributed. Your relationship with surviving family members largely determines intestate succession in Texas.

For example, if you die and have a surviving spouse but no children, the spouse inherits your property. If you have children but no living spouse, parents, or siblings, the children inherit everything. If you do not have a spouse or children, your parents, or siblings may inherit your property.

Estate planning is a crucial responsibility that many people put off as long as possible. While it is understandable that many would procrastinate this complicated and, at times, emotional process, having an estate plan is crucial. Whether you are in your 20s or in your 80s, it is important to have a plan in place for how you are assets should be managed during your life and distributed after your death.

Failing to create an estate plan means that your assets will be distributed according to Illinois intestacy laws. By not creating an estate plan, you essentially give up your right to have a say in how your possessions are distributed to heirs.

A last will and testament is the foundation of most estate plans, but it is not your only option. A revocable living trust offers significant advantages and can be a useful option for some individuals.

Few life events are as exciting as purchasing a new home. Whether this will be your first time as a homeowner, or you are upgrading to a new residence, staying grounded is crucial. Mistakes and oversights during the home-buying process can lead to nasty surprises during closing.

Celebrating Your New Home with Expensive Purchases Before Closing

One of the first things people want to do once they have purchased a new home is buy appliances, decorations, or other items for the home. While this is certainly understandable, making large purchases before the deal is closed can result in heartbreak. Large purchases affect your debt profile, increasing the risk of being denied your mortgage loan. You may have been approved for a mortgage before the purchases, but now that circumstances have changed, the lender could back out.

Opening a new line of credit before the purchases are finalized can have the same devastating impact on your ability to secure a mortgage and acquire the home you have your eyes set on. It is best to wait until closing is complete before opening any new lines of credit or making any large purchases.

Creating a detailed employee handbook is one of the best things an employer can do to communicate work expectations, formalize policies and procedures, foster a positive company culture, and reduce the risk of litigation. Unfortunately, many companies neglect this crucial responsibility or rely on an employee handbook that is outdated, vague, or unenforceable.

In this blog, we will discuss some of the most important elements to include in your employee handbook. For personalized advice catered to your company’s specific needs, work with a San Antonio business law attorney familiar with employment concerns.

Anti-Harassment and Anti-Discrimination Policies

Discrimination, sexual harassment, and related issues have never been more pressing than they are now. A lawsuit against your company alleging discrimination or harassment has the potential to completely derail your business’s success, harming your company’s reputation permanently. Your employee handbook must clearly state your company's policy regarding harassment and discrimination, including how an employee should report harassment or discrimination.