When the business is dependent on you as the owner, having an estate plan before you need one is a critical investment. If you are injured or suddenly pass away without an estate plan in place, your business may not be able to survive. After your death, your entire business and its assets may have …
Continuing from last week’s column on partnerships, this week I will discuss some of the aspects of a corporation. One key point is that a corporation survives the death of one of its shareholders or officers. Partnerships cease upon the death of a partner. Deciding whether to incorporate: In deciding what type of organization …
Continue reading “What is the Difference Between a Partnership and Corporation? Part 2”
Met with a client recently to discuss the differences between a partnership, corporation and Limited Liability Corporation were. I thought that might make a good topic for this column and so I will start this week with describing a partnership. A partnership is an association of two or more persons to carry on as …
Continue reading “What is the Difference Between a Partnership and Corporation? Part 1”
The information in this column is not intended as legal advice but to provide a general understanding of the law. Any readers with a legal problem, including those whose questions are addressed here, should consult an attorney for advice on their particular circumstances. Both heart and mind must be working well if the owners of …
The information in this column is not intended as legal advice but to provide a general understanding of the law. Any readers with a legal problem, including those whose questions are addressed here, should consult an attorney for advice on their particular circumstances. While telecommuting has been around awhile now, we live in a whole …
Recently a couple consulted with me regarding their bed and breakfast. While they normally do not go beyond the nightly bed and breakfast, they recently leased out their property for a wedding. Unfortunately, a guest has claimed to have been injured at the wedding. While their contract called for the lessee to provide insurance for …
Continue reading “Importance of Reading Your Insurance Policy”
Bait and Switch ScamIn a variation on the typical “bait-and-switch” scheme, a bank made a promotional offer of a “no annual fee” credit card, then changed the terms mid-year to require such a fee. A credit card holder sued the bank under the federal Truth in Lending Act (TILA). She alleged a violation of the …
Continue reading “Double Trouble- Truth in Lending, Crooked Casino Loses Big”
The information in this column is not intended as legal advice but to provide a general understanding of the law. Any readers with a legal problem, including those whose questions are addressed here, should consult an attorney for advice on their particular circumstances. I have handled many sales or purchases of small businesses. Therefore, I …
Do you have what it takes to own a business? Let’s face it, not everyone is cut out to be a captain of industry, or even captain of a small business. Maybe you need not subject yourself to an intensive psychological and life-experiences evaluation, but be honest with yourself about whether you have the necessary …
Attorneys often face co-ownership issues when advising on inheritance and probate avoidance. Inheritance in such cases may be determined by express language in a deed or a last will and testament, or in the absence of either, by intestacy provisions of the Estates Code. In some circumstances a co-owner may have no survivorship rights at all.
