Contracts, when well drafted, seek to provide for, and agree to the consequences of, any possibility that might occur during the life of the contract. One important area that is frequently covered under many contracts is that of indemnification – essentially meaning protection against liability. Indemnification Clauses Indemnity is defined as “[a] duty to make […]
Author: Philip Silberman
Understanding Property Taxes in Texas
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 […]
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 […]
Wills and Trusts as Estate Planning Tools in Texas
Most people want to do all they can, not only during their lifetime but beyond, to help their loved ones. Estate planning provides peace of mind for that person and their family members by establishing who will manage the estate and how assets of the estate will be divided. Many equate estate planning with writing […]
Types of Trusts Available in Texas
When most people think of estate planning, they think of writing a valid will, which is one important purpose of planning. In addition to a will, several types of trusts also offer options to protect assets and ensure that beneficiaries are cared for. With the wide variety of options available, discerning whether a will or […]
Requirements of an Enforceable Contract in Texas
When parties choose to collaborate on a business venture, they agree to work together in a way that is mutually beneficial. The agreement may be informal, based on a verbal understanding or a handshake, or it may be more formal, such as a licensing agreement or a strategic partnership. The first component of a contract […]