Many folks decide to go into or open a new business everyday. It is part of the American culture to be an entrepreneur. While it is wonderful to “be your own boss,” it does come at a cost and with risk. Following fast on the heels of a decision to go into a particular kind …
As of January 1, 2024, a new law known as the Corporate Transparency Act (CTA) requires that certain owners of registered entities provide personal information to anew database created by the US Treasury Department’s Financial Crimes Enforcement Network (called “FinCEN” for short). With limited exceptions, this requirement applies to all registered entitiies, like Limited Liabiity …
I have done several columns on laws and topics Texas landowner need to be familiar with now that they own a piece of Texas and may have ventured into an ag business. This week, I thouht I would cover mortality insurance for livestock. In simple terms, livestock mortality insurance generally covers the premature death of a covered …
When the business is dependent on you as the owner, having an estate plan before you need one is a critical investment. If you are injured or suddenly pass away without an estate plan in place, your business may not be able to survive. After your death, your entire business and its assets may have …
Continuing from last week’s column on partnerships, this week I will discuss some of the aspects of a corporation. One key point is that a corporation survives the death of one of its shareholders or officers. Partnerships cease upon the death of a partner. Deciding whether to incorporate: In deciding what type of organization …
Continue reading “What is the Difference Between a Partnership and Corporation? Part 2”
Met with a client recently to discuss the differences between a partnership, corporation and Limited Liability Corporation were. I thought that might make a good topic for this column and so I will start this week with describing a partnership. A partnership is an association of two or more persons to carry on as …
Continue reading “What is the Difference Between a Partnership and Corporation? Part 1”
The information in this column is not intended as legal advice but to provide a general understanding of the law. Any readers with a legal problem, including those whose questions are addressed here, should consult an attorney for advice on their particular circumstances. Both heart and mind must be working well if the owners of …
The information in this column is not intended as legal advice but to provide a general understanding of the law. Any readers with a legal problem, including those whose questions are addressed here, should consult an attorney for advice on their particular circumstances. While telecommuting has been around awhile now, we live in a whole …
Recently a couple consulted with me regarding their bed and breakfast. While they normally do not go beyond the nightly bed and breakfast, they recently leased out their property for a wedding. Unfortunately, a guest has claimed to have been injured at the wedding. While their contract called for the lessee to provide insurance for …
Continue reading “Importance of Reading Your Insurance Policy”
Bait and Switch ScamIn a variation on the typical “bait-and-switch” scheme, a bank made a promotional offer of a “no annual fee” credit card, then changed the terms mid-year to require such a fee. A credit card holder sued the bank under the federal Truth in Lending Act (TILA). She alleged a violation of the …
Continue reading “Double Trouble- Truth in Lending, Crooked Casino Loses Big”
