Posted on April 28, 2023 in Business Law

Owning and operating an automotive dealership comes with its fair share of complexities and challenges. Dealerships may find themselves in legal disputes with customers, vendors, and other parties. They must comply with local, state, and federal laws and regulations - and even a simple oversight can lead to significant penalties for non-compliance.

If you currently own a dealership or plan too soon, understanding your legal responsibilities is crucial. Consider working with a business law attorney who understands the unique intricacies involved in this type of business and can help steer you in the right direction. In this blog, we will discuss just some of the many laws and regulations you need to be aware of as a car dealership owner.

Used Car Buyer’s Guide

The Federal Trade Commission Buyers Guide law requires certain information to be prominently displayed in a used car that is for sale. You'll need to clearly state whether the vehicle comes with a warranty, and if so, what the warranty covers and for how long. You must also include the vehicle make, model, and year, as well as the vin number. Failure to comply with FTC regulations can lead to costly civil penalties.

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 Posted on April 20, 2023 in Real Estate

When preparing to sell your home, there are seemingly countless decisions to make. One of the most crucial decisions involved with a sale is whether you will work with a real estate agent or sell your home on your own. If you are the type of person who likes to take matters into your own hands and you are looking to reduce expenses, you may be interested in a “for sale by owner” (FSBO) transaction. However, it is important to be aware of the advantages and potential disadvantages of an FSBO sale.

Why Would Someone Want an FSBO Sale?

The main reason that homeowners look into FSBO sales is that they want to avoid paying a commission fee to the listing agent. Depending on your home's value, a commission fee can represent a significant financial loss. Selling your home on your own avoids this expense.

Another reason people may want to sell their home without the assistance of a real estate agent is to streamline the process and complete the sale more quickly. According to one study, just under 80 percent of FSBO homes sold within two weeks. FSBO is also a popular option for selling a home to a family member, friend, or someone the seller already knows.

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 Posted on April 12, 2023 in Estate Planning and Probate

While estate planning often focuses on the distribution of assets after a person's death, it is also essential to plan for the possibility of incapacitation. An unexpected injury or severe illness can happen to anybody. Establishing a power of attorney allows you to designate an individual to speak on your behalf when you cannot communicate your wishes yourself. However, choosing the person or persons who will act as your power of attorney can be a significant challenge. Keep the following considerations in mind as you choose your power of attorney.

Consider the Characteristics You Are Looking for in a Power of Attorney

Acting as power of attorney for somebody else is a major responsibility. Start by making a list of the characteristics you are looking for in a power of attorney agent. Of course, it is important to choose somebody who is trustworthy. This person will be tasked with making medical or financial decisions on your behalf, so you want to make sure they will make the decisions in accordance with your wishes. It may be helpful to select somebody who has similar personal or religious beliefs to yours.

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 Posted on April 05, 2023 in Business Law

Many businesses staff their company with a mix of independent contractors and employees. They may rely on employees to manage departments and handle everyday operations, while they rely on independent contractors to provide specific services on an as-needed basis. Unfortunately, many businesses find themselves in hot water because they accidentally confuse these worker classifications.

Texas Law Regarding Worker Misclassification

The differences between employees and contractors may seem obvious at first glance, but knowing how to classify a worker is often more difficult than it seems. The Texas Workforce Commission lists 20 points to consider when determining how to classify a worker, such as:

• Contractors receive instruction regarding how, when, and where work must be performed while contractors have a much greater degree of freedom with regard to how work is completed.

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 Posted on March 28, 2023 in Real Estate

Renting property to tenants can be lucrative and personally rewarding for Texas real estate owners. However, it is vital to ensure that the terms of a rental agreement are clearly outlined in an enforceable legal document. Residential lease agreements with missing provisions, vague language, or unclear terms put you at risk of disputes and costly litigation. As a landlord, it is your responsibility to ensure that your lease agreement protects you and your tenants.

Writing a Strong Residential Lease Agreement

The lease serves as the foundation of the tenant-landlord relationship. It is important that the document is carefully drafted, outlining all the necessary legal details of the arrangement. The following are some essential elements to include in a Texas residential lease agreement:

• Rent payments - One of the most important issues to clarify in your lease agreement is the amount of rent to be paid by tenants. Make sure to include how much the rent is, when rent is due, and how the tenants should pay the rent. Go into detail about the acceptable payment methods, what happens if a rent check bounces, and whether late fees will be charged if rent is late.

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 Posted on March 22, 2023 in Estate Planning and Probate

When discussing estate plans, people often emphasize the financial aspects of the estate planning process, such as asset distribution and tax issues. However, estate planning involves much more than property-related decisions.

A living will is an estate planning document used to make decisions about medical treatment. Have you ever thought about whether you would want to receive supplemental feeding or artificial ventilation if you became terminally ill? What are your thoughts about organ donation?  A living will answer these questions and more. When creating a living will, you can decide what medical treatments you would want to receive if you become incapacitated. Drafting a living will is not only important for you, but also for your loved ones.

A Living Will Lets You Determine What Medical Treatment You Will Recieve

A living will is used to make decisions about medical treatment and end-of-life care in advance. Medical providers will use the information in a living will to determine how to proceed if you fall into a coma or experience another incapacitating medical issue.

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 Posted on March 15, 2023 in Estate Planning and Probate

Probate is the process of confirming that a deceased person’s assets are distributed correctly. If the person had a valid estate plan, the assets are distributed according to that plan. If the person did not have a will or any other estate planning documents addressing asset distribution, the assets are distributed according to Texas's intestate succession laws.

With regard to real estate, the process of passing a home down to heirs varies in complexity. There are several estate planning options available that greatly reduce or eliminate the role of probate in a transfer of real estate property. However, if an individual passes away without setting up estate planning instruments designed to avoid probate, the process is much more complicated.

Options for Avoiding Probate when Transferring a Home, Rental Property, or Vacation Home

A person’s home is often one of the most valuable assets they own. If you intend to transfer your home or another real estate property to your loved ones upon your death, make sure you understand the various ways of doing so. You can save your surviving loved ones substantial time and expense by designing your estate plans in a way that avoids probate for real estate assets.

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 Posted on March 03, 2023 in Estate Planning and Probate

For many people, one of the biggest concerns regarding estate planning is that their family members will argue over the terms of asset distribution. When this happens, the situation may lead to a will contest which can cost substantial time and money for everyone involved. Even more concerningly, will contests can lead to family disputes and intense animosity that lasts years.

To prevent these arguments, some estate plans include a no-contest clause or forfeiture clause. A no-contest clause states that if any beneficiary of an estate challenges the terms of the will in court, they may forfeit their inheritance altogether. Some states do not allow no-contest clauses. However, these provisions are allowed in Texas estate plans.

What is a No-Contest Clause in a Will?

A no-contest clause discourages a beneficiary from contesting or challenging the will. If a beneficiary does contest the will, this clause may allow the executor to exclude that beneficiary from receiving their inheritance. For example, a no-contest clause may say, "If any person contests or attempts to contest the validity of this agreement, he or she forfeits his or her share of the inheritance."

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 Posted on February 27, 2023 in Estate Planning and Probate

 Estate planning is an important process that involves making arrangements for managing and distributing your assets and property after your death. Despite its importance, many people put off estate planning or ignore it, leaving their assets vulnerable to unintended consequences. Failing to plan can result in your assets being distributed in ways you never intended, leading to possible family disputes and financial losses.

Today, we will discuss the myriad of misconceptions surrounding estate planning. If you are interested in estate planning, consider contacting an experienced estate planning attorney who can be your legal guide as you navigate the various aspects of the estate planning process. 

Brief Overview of What Having Assets Means

First, let us discuss what having assets mean. Having assets means that an individual or entity owns property, investments, or other valuable possessions that have financial value. Assets can include physical property such as real estate, vehicles, or jewelry and intangible assets such as stocks, bonds, patents, or trademarks. Assets can also include cash or money in bank accounts. Essentially, anything that has value and can be converted into cash or used to generate income is considered an asset. Through estate planning, you can take measures to protect your assets.

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 Posted on February 21, 2023 in Estate Planning and Probate

Probate is the legal process that settles an estate of someone dies. The process involves the court-supervised distribution of the deceased person’s assets and the payment of their debts and taxes. It also helps to determine the validity of the deceased person’s will, identify their assets and liabilities, and pay any outstanding debts and taxes. When a will is present, probate aids in the distribution of remaining assets to the heirs or beneficiaries as specified. 

The process can be rife with stress, particularly as family members try to balance the grief of their loved one’s death with the necessity of taking care of the deceased person’s estate. Today, we are going to review common misconceptions surrounding probate so that you understand the facts surrounding the process. If you ever need estate planning or probate assistance, contact an attorney who can guide you through the process while protecting your rights. 

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