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Texas Medical Power of Attorney

A Texas Medical Power of Attorney is a document which is usually prepared by a Texas estate planning attorney as part of the estate planning process. The purpose of the Texas Medical Power of Attorney is for a person, known as the principal, to name an agent to make medical decisions on the person’s behalf if the principal is unable to make his/her own health care decisions. Texas estate planning attorneys typically provide the name, address, and phone number of the agent in the Texas Medical Power of Attorney. After all, the agent often needs to be notified of the principal’s...

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Texas Durable Power of Attorney

A Texas Durable Power of Attorney is an instrument that allows an agent to perform certain actions on behalf of another person, usually called the principal. A Texas Durable Power of Attorney is usually prepared in relation to a person’s broader estate planning, which includes a Last Will and Testament, Revocable Living Trust, Durable Power of Attorney, Medical Power of Attorney, Directive to Physicians, and other ancillary documents, all of which are usually prepared by a Texas estate planning attorney. However, the Texas Durable Power of Attorney may also be executed without the other documents. The Texas Durable Power of Attorney...

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Texas Revocable Living Trusts

Texas Revocable living trusts are a powerful estate planning tool in Texas. The Texas revocable living trust allows a person to distribute one’s assets in accordance with one’s wishes without the need for a costly and lengthy probate. Further, revocable living trusts can be written in a manner to protect those assets from your beneficiaries’ creditors. Therefore, it is important to retain a Texas estate planning attorney to prepare the Texas revocable living trust. Some of the key persons named in a Texas revocable living trust include a settlor, trustee, and beneficiary. A settlor, which may also be named a trustor or...

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Texas Last Will and Testament

A last will and testament is a document that states to whom a person would like his estate distributed upon his death. The person for whom a last will and testament is drafted is called the testator. In Texas, the last will and testament needs two witnesses. To be self-proving, the last will and testament in Texas must also be notarized with a self-proving affidavit. A self-proving affidavit is essentially the testator’s testimony that the witnesses watched him sign the will. The filing of the original will and testament with a self-proving affidavit removes the requirement that the witnesses must...

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Retail Real Estate Transactions

Retail real estate transactions are a subset of commercial real estate transactions. Like other types of commercial real estate transactions, a Texas real estate attorney can be a great asset in making the transaction run smoothly. Retail real estate transactions are unique, though, in the sense that the buyer will be inheriting existing tenants and their retail leases. It is incredibly important for the buyer to review all the leases. In analyzing the retail leases, it important to consider whether the lease is a gross lease or a net lease. A gross lease is a lease in which the landlord is responsible...

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The Importance of Estate Planning

Good morning! I am Robert Newton, attorney and owner of The Law Office of Robert Newton, P.C., which is a law firm located in Frisco, Texas. In this inaugural Newton's Legal Minute, we are going to discuss what happens to your estate in Texas upon your death. If you have conducted any estate planning, then it is likely that your estate will pass to your beneficiaries in the manner you desired. Basic estate planning tools include a last will and testament, a revocable living trust, transfer on death deeds, and naming beneficiaries on financial documents. If you die without any estate...

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Buying a Business in Texas

Buying a business is always an exciting adventure. However, it can also be intimidating. Texas law does not contain many provisions related specifically to the purchase of most businesses. Instead, general statutes and a lot of common law enters into the picture. Generally, businesses are purchased in one of two ways: (i) a purchase of all the assets; or (ii) a purchase of all the equity (whether stock, units, membership interest, or otherwise). From the buyer’s perspective, it is usually safer to purchase all the assets of an existing business. In doing so, the buyer only receives the liabilities to which...

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Anne’s Partition and Franchise

Following her divorce from John, Anne attempted to sell the real property she held with Caleb. However, her Frisco real estate attorney stated that no one would be interested in buying a fifty percent interest in a tract of land. Caleb refused to buy her share of the Property. Therefore, Anne’s real estate attorney recommended that she request the court to issue an order to sale the property through a partition lawsuit. Anne instructed her Frisco real estate attorney to file the partition lawsuit. The appraisal of the property was stated as $3,000,000. Anne knew the property was worth much more than she had told John (or even the...

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John’s Non-Compete Agreement

John and Anne continued repairing their marriage over the next few months. It was going well. John’s business continued to grow, and he was still receiving a steady and growing paycheck from his employer. However, John’s employer discovered that he was selling software services on the side in violation of a non-compete agreement. John immediately told Anne about the cease and desist letter. She accepted it with grace, and simply asked about his plan to deal with the news. Her confidence in her husband had grown since he was able to save the house. Surely he could negotiate this new obstacle. After sending the letter to his Frisco business attorney,...

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John Forms His Texas LLC

John pleaded for Henry to assist him following Anne’s departure. He understood the only way to save their marriage was to redeem the house, but it was an impossible task in the two weeks that he had before the second eviction trial. Henry was sympathetic to John’s marital woes. He was having some problems himself at the moment. Ginny was upset about their misadventure in justice court, and Henry hired a real estate attorney in Frisco to assist him with the second eviction attempt and future real estate transactions. Henry discussed with the real estate attorney how he could assist John without hurting himself. The attorney devised a plan that...

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