Drafting a contract is a significant step for small-business owners, entrepreneurs and senior-level managers. Contracts, including employment contracts, service contracts and nondisclosure agreements, are the foundation of business transactions and relationships. Understanding the basics of contract drafting ensures these documents serve their intended purpose effectively. Key elements of a contract A contract is not merely a formal document but a binding agreement that requires specific elements to be valid. These elements include the intent to create a legal relationship, a lawful subject ma ..read more

Losing a loved one is an emotionally and practically challenging experience for almost anyone. The difficulties escalate when you bear the responsibility of managing the estate of your deceased family member. Undertaking the probate process, particularly as the executor of the estate, adds layers of stress and worry to the already complex matter of grieving. Having clear guidance on your side can help you calmly understand the executor’s role in probate and every step you must tackle along the way. Validating the will The first step in the probate process is verifying the validity of the decea ..read more

When it comes to planning for the future, two common legal tools often come into play. These are wills and trusts. Both serve as mechanisms to distribute assets, but they have distinct differences. Understanding these differences can help you if you are looking to provide for loved ones. Wills A will, also known as a last will and testament, is a legal document outlining your wishes for the distribution of your assets after you pass away. Think of it as a detailed blueprint that dictates who gets what from your estate. In a will, you can name beneficiaries, designate guardians for minors and e ..read more

Technically, the United States does not recognize any formal class system. However, many economic experts often divide Americans into two distinct economic groups. There are those who start fresh with each generation, and there are those who benefit from generational wealth. Those with access to generational wealth may have an easier time securing an education or pursuing their entrepreneurial dreams. They generally have more resources in scenarios that involve job loss or other forms of financial hardship. Therefore, preserving generational wealth and passing down whatever is possible to one ..read more

You’re the family’s main protector and provider, and that means doing everything in your power to make sure that your loved ones are taken care of in the future – even if you can’t be with them. That’s why having your last will and testament and other estate plans in order is so necessary. While nobody enjoys contemplating a world that goes on without them, having your will prepared is crucial when it comes to making sure that your assets are distributed according to your wishes and that your family is safe and secure in the event you unexpectedly pass away. 1. It stops the government from tak ..read more

Boundary disputes can be very complicated, especially in rural areas where plots of land may be extensive and property lines may run for acres or even miles. When it comes to who can enter and exit a given parcel of land, it needs to be very clear who has such a right so that a dispute does not arise. Unfortunately, disputes occur often over the boundaries between different properties, especially in relation to who can use driveways and other means to enter and/or exit those properties. It’s a land-use issue, essentially, and it can be problematic when both parties believe that they have the r ..read more

Your business contracts determine what obligations you have to your employees and what you can expect from your vendors or service providers. The more careful you are when setting the terms in your contracts, the more effective they will be at protecting your business and facilitating smooth transactions. Unfortunately, contractual disputes are common issues in the modern business world, in no small part because people often make mistakes while drafting business contracts. What are the most common legal pitfalls people encounter when creating business contracts? They aren’t specific enough One ..read more

A merger is a massive undertaking even if it stands to have significant benefits for both businesses. Mergers can allow you to access the intellectual property of a smaller business in the same industry or to majorly expand your market share. When you recognize that acquiring another business would potentially benefit your organization, you may enter into negotiations with their board of directors or owner. Before you rush forward with the merger, there are certain considerations that you need to keep in mind during negotiations and the transitional process that follows. Mergers are subject to ..read more

When someone dies in Texas, their will explains what should happen to their property and who will take care of their children. Given that a significant number of people die without a will at all, learning that your loved one had the foresight to plan for their death may be a relief. However, your relief may be short-lived if there is a dispute among family members regarding the validity of the will. Someone may decide to challenge or contest the will, resulting in probate litigation. What happens when someone contests a will in Texas probate court? They must have grounds for the challenge To c ..read more

When your parents die, you and your siblings will have to go through their possessions and review their estate plans. It can be a lengthy process to pay their debts and settle their affairs. The process can seem even more overwhelming when your parents did not have the foresight to leave behind an estate plan or will explaining their wishes regarding their property. When your parents die and don’t leave behind an estate plan, you may not even know how to start the probate process. Thankfully, there are clear rules that apply when someone dies in Texas without an estate plan. The probate courts ..read more