Texans are fortunate to be one of nine states not subject to a state income tax. Still, state and local governments need funding to function, and one type of ad valorem tax, the property tax, is a large source of that local funding. Ad valorem is a Latin phrase meaning, “according to value,” and Texas […]
Month: July 2022
Recent Changes to Property Taxes in Texas
Texas is one of nine states that does not require its citizens to pay a state income tax. That does not mean, however, that people live tax-free in Texas. Since state governments need funding in order to govern the state, Texas funds its needs through ad valorem taxes, which were first used in the United […]
Tangible vs Intangible Assets in Texas Estate Planning
Most people think of estate planning as writing a valid will, and that is one crucial aspect of planning. However, estate planning includes many other considerations, whether or not to create trusts or include digital executors, for example. Also critical in estate planning is the accurate valuation of an estate. Some assets are easier to […]
Recent Changes Regarding Wraparound Mortgages in Texas
While many choose a traditional mortgage when purchasing a home, other options are available in Texas to meet the varying needs of buyers. One option is a wraparound mortgage, which offers advantages for buyers and sellers, but which also has greater risks than traditional mortgage loans. To help decrease those risks, SB 43, effective since […]
Trademark and Service Mark Registration in Texas
A successful business often creates unique graphics, slogans, and logos to promote customer recognition of its products and/or services. The power of such branding is its ability to help customers link specific goods or services to a particular business. Therefore, protecting that exclusive image is of paramount importance to a business. Fortunately, Texas law details […]
The Importance of a Digital Executor in a Texas Will
Estate planning, usually includes writing a valid will, perhaps creating one or more trusts, and choosing an executor to administer the estate. Changes in probate laws, reflective of societal changes, may complicate that planning. One fairly recent change addresses the increasing importance of a client’s digital legacy. The role of executor is evolving to reflect […]