Posted on November 10, 2023 in Business Law

If your dream is to own and operate your own car dealership, one of the crucial first steps is obtaining the required Texas DMV occupational licenses. The state has strict regulations in place for motor vehicle sales, so working with experienced legal and compliance advisors is highly recommended when pursuing your goal of getting set up to sell cars. A Texas lawyer can help you with the legal side of things.

Understanding the Licensing Options

The Texas Department of Motor Vehicles (TxDMV) offers two main occupational license options for those looking to legally deal automobiles in the state:

• Independent Motor Vehicle Dealer License - For individuals operating smaller independent dealerships. Allows buying, selling, or exchanging 5-10 vehicles per year.

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 Posted on November 03, 2023 in Estate Planning and Probate

For individuals and families in Texas with substantial assets to protect and transfer, proper estate planning is crucial to preserve wealth and efficiently pass it on to heirs. Living trust strategies can provide opportunities for tax minimization as well as asset protection when thoughtfully integrated into a comprehensive estate plan. A Texas lawyer can help make sure you are filing out all the documentation properly to protect your family.

Asset Protection Benefits

One of the key benefits of living trusts is that they allow assigning ownership of assets to the trust instead of personally holding them. Assets placed in a properly structured trust are legally protected from creditors and civil lawsuits filed against the grantor individually. 

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 Posted on November 01, 2023 in Real Estate

When tenants move out while owing back rent, fees, or other unpaid charges, landlords can take steps to recover those debts. Texas law can help property owners recoup these outstanding payments even after the tenant vacates the unit. A Texas lawyer can help landlords understand what tenants should know about getting compensation from former tenants.

Send Formal Demand Letters

The first move is sending the former tenant a formal written notice demanding payment of precisely what they owe you. Itemize all overdue rent, early termination fees, late charges, pet damages beyond security deposit coverage, and utility bills in arrears. Specify calculated dollar amounts, reference the lease terms violated, and include copies of accounting records. The letter should state these sums are now due in total and you intend to pursue additional legal action if the tenant fails to pay promptly.

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 Posted on October 27, 2023 in Real Estate

For sale by owner, or FSBO, seems like an easy way to save money selling your home in Texas. But if you do not follow real estate laws properly, it can end up costing you big time down the road. A Texas lawyer can help you make sure you are not making any major mistakes along the way.

Know Your Legal Obligations

In Texas, FSBO sellers have all the same legal obligations and disclosures as agents. This includes providing a Seller’s Disclosure form, following property condition disclosure laws, and abiding by contract cancellation rules. Mess up your legal duties and you could face lawsuits.

Handle Contracts and Titles Correctly

FSBO means handling tasks like title transfers and sales contracts yourself. Without legal experience, it is easy to make very expensive mistakes. If a contract does not comply with Texas law or you fail to file title and deed paperwork properly, you are in legal hot water.

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 Posted on October 18, 2023 in Estate Planning and Probate

For blended families in Texas, estate planning can become complex when navigating relationships between step-parents, step-children, and other relatives. Without thoughtful planning, wealth transfer can spark bitter disputes. Proactively addressing issues unique to blended families reduces potential conflicts with a Texas lawyer on your side.

Define Goals and Beneficiaries

Have open conversations to align on estate planning goals and intended beneficiaries. Often, remarriages create unclear expectations about inheritance between spouses, children from previous relationships, and joint children. Defining priorities upfront provides a roadmap.

Create Plans as a Team

Married couples should approach estate planning as a team effort. Making unilateral decisions can spark resentment between family branches later on. However, joint planning gets all perspectives on board, increasing acceptance. Listen genuinely to input from both spouses and all children involved. Coordinated efforts between spouses prevent disjointed plans that divide loyalties. Present a united front through synchronized planning.

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 Posted on October 11, 2023 in Business Law

Registering a new business entity requires properly completing various legal filings like certificates of formation and operating agreements. Unfortunately, minor errors on these crucial documents can derail your entire company launch. Failing to thoroughly research name availability, not filing with the county, and listing an ineligible registered agent - mistakes like these lead to frustration and delays. A Texas lawyer can make sure you process your business formation documents properly.

Double Check Business Name Availability

Successfully registering your new Texas business entity requires properly completing numerous legal documents like certificates of formation and operating agreements. Unfortunately, small mistakes or omissions on these crucial filings can sabotage your entire company launch.

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 Posted on October 04, 2023 in Estate Planning and Probate

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.

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 Posted on September 28, 2023 in Estate Planning and Probate

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 

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 Posted on September 25, 2023 in Estate Planning and Probate

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.

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 Posted on September 20, 2023 in Estate Planning and Probate

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.

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