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Royce Lanning
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Part II – Probate: Identify the Most Efficient Probate Proceeding – Muniment of Title

Texas law provides several options to transfer ownership of a deceased person’s (usually called a “decedent”) property. We previously discussed the difference between a dependent and an independent administration. The dependent and independent administrations are used when the deceased person’s estate exceeds some minimal thresholds for size or complexity, such as owing unpaid debts. Texas Read More

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Transferring a Business is a Team Effort

Transferring a Business is a Team Effort Thinking about buying or selling a business? It’s a big step in life, so let’s talk about surrounding yourself with the right help to make sure you make the best deal possible. A tempting path for some entrepreneurs is trying to handle the entire transaction themselves. The temptation Read More

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Four Reasons to Fund Your Business Succession Plan

  It is an incredible accomplishment for business owners to craft a business succession plan establishing the structure that will transition the business out of the hands of the current owner(s).  However, even the best business succession plan will be considered a failure without a proper funding mechanism.  The considerations in support of setting up Read More

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Part I – Probate: Identify the most efficient probate proceeding

Probate is the process of applying to a court for authority to transfer a decedent’s property.  When the court stays involved throughout the administration of a probate (i.e. through the whole process) then the probate process is long, complex and expensive.  However, Texas has aggressively sought to create a number of more efficient (i.e. quicker Read More

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Protecting Inherited Assets from Creditors

Saving money is difficult.  It is no wonder, then, that most people are not excited about the possibility of creditors swooping in and taking the assets they leave to their heirs.  Fortunately, a well-crafted estate plan can be utilized to reduce this risk. A common tool is to be to leave assets to your children Read More

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Sometimes It’s not “One and Done”: Difficulties of Probating the Surviving Parent’s Estate

Difficulties of Probating the Surviving Parent’s Estate Texas has relatively efficient probate system.  It has been designed to provide a number of options to allow residents to select the least expensive and quickest method to probate an estate.  In fact, Texas has developed abbreviated probate proceedings to deal with small estates, including individuals that really Read More

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Four Ways to Fund your Business Succession Plan

Four Ways to Fund your Business Succession Plan An important part to a business succession plan is considering how to fund your succession plan.  After all, the most intricate and thoroughly considered succession plan will fail if it lacks the funds necessary it execute the plan.  The method of planning will depend on a multitude Read More

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Probate: 5 Tools for Avoiding Probate in Texas

Texas has created a quick and (relatively speaking) inexpensive probate process that can be utilized in the majority of estates arising in Texas.  While there is no substitute for the planning and protections that can be achieved with the proper will or trust, there are limited circumstances in which the value of those protections may Read More

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Steps Landlords Should Take to Protect against a Tenant’s Mechanics Liens

  Most commercial landowners are aware that contractors, subcontractors and suppliers that provide work, tools or materials in connection with constructing an improvement have a right to place a lien on the property until they are paid.  This type of lien is often referred to as a Mechanic’s Lien and is authorized by statute[1] and Read More

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Estate Planning: Planning to Protect Inherited Retirement Accounts

For many years, people that inherited their parent’s retirement accounts believed those funds would be protected from creditor claims just like their own retirement accounts are protected from creditor claims.  However, the U.S. Supreme Court rejected that concept in 2014.[1]  In Clark v. Rameker, the Supreme Court ruled that the beneficiary’s inherited IRA was subject Read More

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