Author Archives: Kevan Benkowitz
Reasons You Might Choose a Living Trust as an Estate Planning Tool
Though everyone should have a valid last will and testament, many Texans also establish a living trust and use that legal instrument to distribute the bulk of their assets upon their death. Revocable living trusts have become popular due to their versatility and the benefits they provide. Regardless of the size of your potential estate, […]
What Are the Most Common Types of Probate Disputes?
Probate is the legal process of distributing property owned by a deceased individual under the rules set forth in the Texas Estates Code. Even when no conflicts exist among potential beneficiaries, probate can be a challenge, so it is a good idea to consult with an experienced attorney as soon as possible if you’ve been […]
Naming a Guardian for Your Child as Part of Your Estate Plan
Every parent wants to ensure their child’s well-being no matter what lies ahead. This is why mothers and fathers of minors should prepare a detailed declaration regarding legal guardianship for their children in the event of their death or incapacity. This language can accompany instructions for the distribution of property in a last will and […]
Benefits of Forming a Series LLC in Texas
A limited liability company (LLC) is a very common business organization that is recognized in every state. An LLC has the liability protections of a corporation but is taxed like a partnership. A relatively new variant is the “series LLC.” In this form of organization, a parent or master LLC is authorized to create subsidiaries […]
Estate Planning Tips for Blended Families
Estate planning poses special challenges for a blended family — usually defined as a family unit in which one or both spouses have children from prior relationships. This merger of families often results from a second marriage after a divorce or death. Blended families can include stepmothers, stepfathers, stepchildren, step-siblings and half siblings. Estate planning […]
How to Include an Effective Dispute Resolution Clause in Your Contract
When it comes to contract disputes, most people think of going to court as the legal remedy. However, there are other available options that can be more cost-effective and time-efficient than litigation. One such option is alternative dispute resolution (ADR) — a shorthand term for a variety of methods that don’t involve a judge or […]
How to Prevent Your Texas Will from Being Challenged
When setting out to make your will, you may wonder how the beneficiaries and other interested parties will react to your instructions on distribution of money and other assets. The last thing you want is for the will to be contested, which can frustrate your very purpose in writing it. Fortunately, there are things that […]
Using Earn-outs to Structure Business Sales Agreements
Buying and selling businesses is an integral part of the economy. Placing a realistic value on a business is a material part of a buy-sell transaction. However, valuing a business — especially a closely held one — can be challenging. Buyers and sellers often have vastly different appraisals of the business’s value. Buyers are purchasing […]
Estate Planning for Children Turning 18
Young people rarely think about estate and personal disaster planning. However, those turning 18 years of age are adults. The parents no longer have inherent legal authority over the child. These youngest of adults are responsible for all of their own affairs. Therefore, even 18-year-olds should have a plan in case of serious medical emergency […]
