Preferred shares are a type of equity security that represents ownership in a company. Businesses can use preferred shares to raise capital by issuing them to investors in exchange for money. The investors become shareholders in the company and are entitled to fixed dividend payments and potential appreciation in the value of their shares. By……
TX-LW Blogs
Completing a Texas Transfer-on-Death Deed
A transfer-on-death (TOD) deed, commonly known as a beneficiary deed, is an important tool in Texas estate planning. It allows you to transfer ownership of certain types of property upon your death to someone else without going through the probate process. The TOD deed has become increasingly popular in recent years due to its simplicity…
The 2023 Increases to Federal Estate & Gift Tax Exclusions
The IRS has announced that it will be increasing the estate and gift tax exclusions for 2023. This means that more money can be passed on to heirs without being subject to taxes. For those who are planning their estates, this is good news. However, it also means that more people will be subject to…
Is Filling In Blank Forms the Practice of Law?
When it comes to estate planning, there are a lot of forms that need to be filled out. And if you’re not an attorney, you may be wondering if filling in these forms is the practice of law in Texas. In this blog post, we’ll take a closer look at the issue of filling in…
When is a Contract not subject to Equitable Conversion?
When is a contract not subject to equitable conversion? This is a question that often comes up in business law, and the answer is not always clear. In order to understand when a contract is not subject to equitable conversion, we must first understand what equitable conversion is. Equitable conversion is the doctrine that allows…
The Crime-Fraud Exception to the Attorney-Client Privilege
Our laws protect certain communications. This includes communications with doctors, religious advisors, spouses, and even attorneys. When it comes to Federal tax matters, communications with tax attorneys are usually at the forefront. The IRS often seeks information about these communications to help it figure out how the taxpayer structured their affairs. The attorney-client privilege is……
When Is an Irrevocable Trust Not Established?
An irrevocable trust is a type of trust that, once established, cannot be modified or terminated by the grantor. This type of trust is often used for asset protection or estate planning purposes. But what happens when an irrevocable trust is not established in Texas? In this blog post, we’ll explore the answer to that…
Why You Should Always Hire a Texas Registered Agent
Business is hard. There are a lot of tasks and details that one has to attend to for the business to thrive and be successful. The business owner cannot do everything. Some tasks and details will be missed. Business owners often have to triage their tasks, doing only what is necessary to get through the……
Texas Probate Case of First Impression Over Who Owns Moon Rocks
Courts make decisions based on the existing legal framework and precedents. These decisions create frameworks for future decisions made by the same court. A court first impression is a decision that is, at least in part, new or not bound by prior precedent, so it sets a new precedent. What is a Case of First…