By Brian Fisher “We are friends (or family), we will just work it out.” Words most transactional attorneys have heard when advising a client that ownership of an entity on a 50/50 basis, without a tie-breaker provision, is a recipe for disaster. Imagine for a minute that you and your best friend decide to form …
When seeking to begin a business in Texas, the most common procedure is to complete a Name Availability search through the Texas Secretary of State website, then file an entity with that name if it appears available. However, filing Articles of Incorporation, a Certificate of Formation, and/or an Assumed Name Certificate or “dba” does not …
by Ron Holmes Many of our readers are real estate developers, investors, and leasing/management companies or folks starting or expanding a myriad of businesses. All are faced with a fundamental question: should I conduct business in my name or should I form a general partnership, limited partnership, limited liability company, S-Corp or C-Corp? This article …
by Brian A. Fisher The Texas Supreme Court has defined waiver as the “intentional relinquishment of a known right or intentional conduct inconsistent with claiming that right.” Sun Exploration & Prod. Co. v. Benton, 728 S.W.2d 35, 37 (Tex. 1987). However, in 2014 the Texas Supreme Court appears to have strayed from that definition by …
by Ron Holmes And the beat goes on! The in-migration of thousands of jobs into the DFW Metroplex, particularly North Texas (Frisco being the major player) keeps the real estate market humming like a finely tuned engine. The headline grabbing corporate moves of State Farm, JP Morgan Chase, Toyota and now McKesson are providing the …
Companies who often contract with the government or a government agency may already be aware, but everyone should understand how sovereign immunity applies and protects the government even when breaching a contract. The Supreme Court of Texas had a landmark decision in June of 2016 that changed the way many approach government contracts. It is …
Estate Tax Repeal Does Not Mean Estate Planning is No Longer Important Repeal of the federal estate tax is now more likely than at any other time in its nearly 100-year history. Not coincidentally, people have asked me whether “estate planning” is still necessary in an “estate tax-free” world. For several significant reasons, traditional estate …
Most Americans, regardless of their preferred political party, agree that federal taxes are too high, and that the current federal tax system is too complex. With Republicans controlling the White House and both houses of Congress, the likelihood of meaningful tax reform has not been as great for three decades.1 So, what can we expect? …
Earth, Wind and Fire: The Interplay of Mineral, Wind and Solar Leases by Ron Holmes If you own, or dream of owning, a farm or ranch, then you might find this article interesting. The article addresses two questions: can a landowner legally convey rights to the Sun and the Wind; and do mineral rights trump …
by Ron Holmes (From our October 2016 newsletter) As we move into the fourth quarter of 2016, we have not noticed any slowdown in the Texas real estate market. There still appears to be more capital than there are deals, and, yet, the signs of overbuilding have not shown their ugly heads. Set forth below …