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The Evidence Handbook Basic Evidence in Family Law: Getting It In, Keeping It Out, and Dealing with Electronic Evidence
This paper is meant to be more of a reference tool than a story to read from beginning to end. Each article of the Texas Rules of Evidence is examined with citations to current case law and other rules and statutes as applicable. This paper will also review other subjects related to evidence, such as preservation of error and ethical concerns. The scope of the paper is on family law and evidence that can arise in family law cases. Family law has been referred to as the cross-roads of all other litigation, and as such, many of the cases cited herein are from other fields, including criminal, business, personal injury, government, military, and several federal cases as well. The authors chose to emphasize published cases in the substantive sections and cite to the most recent cases, whether published or not, in the case law update section at the end of the article.
Business Divorce in Family Owned and Other Closely Held Private Companies
The number of private companies in the U.S. continues to grow, and this growth curve has resulted in an increase in conflicts and litigation among business partners. Much of this conflict could be avoided if potential partners would engage in planning and then enter into agreements between them that address issues related to both corporate governance that more clearly define their roles in the business and also provide for the exit of a partner from the company. In partners decline to adopt bylaws or LLC agreements spelling out their roles in management, and they neglect to enter into buy sell agreements that provide for partner exits, we can expect that Business Divorce litigation will remain a hot topic for years. In the private company context, this is likely to involve additional cases presenting breach of fiduciary duty claims under the derivative statute that applies to closely held Texas companies.
Property Puzzles - Characterization, Tracing, 25 Rules and More
This article presents twenty-five rules for characterizing marital property in Texas. Based on an article written by Richard R. Orsinger in 1995, it updates and chronicles the changes and explains the prominent additions to Texas marital property law over the last decade. By way of straight-forward explanation and example, the following are twenty-five rules to know to tackle marital property characterization issues.
Cradle to Grave - The Impact of Family Law on the Business, What Every Business Attorney Needs To Know About Family Law
This paper will help you advise business owners about the impacts of divorce and family law upon businesses. This is important not only for the business owner who may be facing divorce, but for his business partners as well, who may find themselves and their interests affected by the divorce litigation. With an understanding of how Texas divorce law impacts businesses, business agreements can be drafted to shield the business and its other owners from the impact of one owner’s marriage and divorce.
Cradle to Grave – the Impact of Family On the Business Choosing a Business Entity in Today’s Business World
Not all that long ago, choosing a business entity used to be a relatively painless process. If you wanted limited liability you incorporated; and if limited liability was not important, you operated as a sole proprietorship or a general partnership. In a relatively short period of time, state and federal tax law changes along with the advent of new types of business entities have made the choice of entity a much more difficult and, in many respects, a much more important, decision for would-be business owners. Today the menu of business entities from which to choose is quite lengthy: a sole proprietorship, a general partnership, a limited partnership, a C or S corporation or a limited liability company; furthermore, certain entities offer various “extras” in certain situations, such as registering as a limited liability partnership or choosing to operate as a professional corporation or limited liability company. The choice will vary from state to state based upon the liability and tax considerations peculiar to each state. While the vast majority of businesses are operated in one of three forms, i.e. a corporation, a limited partnership or a limited liability company, most of the time, there is no absolute right or wrong answer. The circumstances of the business owners, their goals and desires and their long term plans all play a role in deciding which type of entity is the best for the business owner or business owners.
Cradle to Grave – the Impact of Family On the Business Estate Planning Strategies
Many times a revocable trust is used in a testamentary estate planning capacity. These trusts provide many benefits, some of which are listed herein, but are revocable and can be changed at anytime by the Settlor. There are many purposes for the use of a revocable trust, including, but not limited to, (a) providing privacy for the disposition of the testator’s estate assets during probate proceedings, (b) provide estate tax planning through the creation of multiple trusts, (c) providing a management plan during a period of incapacity of a testator, (d) avoiding probate in states where the probate procedures are complicated or (e) avoiding probate for property owned in states other than the state of domicile of the testator. A revocable trust is a useful tool in many situations and should never be overlooked as a foundational estate planning tool.
Everything a Business Lawyer Needs to Know About Characterization: Estate Planning Strategies (Reference Outline)
Many times a revocable trust is used in a testamentary estate planning capacity. These trusts provide many benefits, some of which are listed herein, but are revocable and can be changed at any time by the Settlor. There are many purposes for the use of a revocable trust, including, but not limited to: providing privacy for the disposition of the testator’s estate assets during probate proceedings; provide estate tax planning through the creation of multiple trusts, providing a management plan during a period of incapacity of a testator; avoiding probate in states where the probate procedures are complicated; or avoiding probate for property owned in states other than the state of domicile of the testator. A revocable trust is a useful tool in many situations and should never be overlooked as a foundational estate planning tool.
Property Puzzles: Characterization, Tracing 25 Rules, and More
This article presents twenty-five rules for characterizing marital property in Texas. Based on an article written by Richard R. Orsinger in 1995, it updates and chronicles the changes and explains the prominent additions to Texas marital property law over the last decade. By way of straight-forward explanation and example, the following are twenty-five rules to know to tackle marital property characterization issues.
When Work And Personal Life Collide
The character of property (community vs. separate) has a profound effect at death on the design of the estate plan, the effectiveness of the estate plan, and how you implement the estate plan. During life, the character of property effects business and asset protection planning.
Tax Free Division – Family Business Succession Planning
Family business succession planning is the cornerstone of any successful family business owner’s estate plan. As is often the case, however, planning for the inter-generational transfer of ownership and control of the business becomes complicated by the intra- generational conflicts of the business owner’s heirs. These conflicts among members of the second generation, if severe enough, can render the effective management of the business by the second generation virtually impossible, leading to a loss in productivity and profitability with a resulting decline in the enterprise’s value.
Representing the Growing Family - Owned Business
This paper will help you advise business owners about the impacts of divorce and family law upon businesses.
There's No Business Like Family Law Business
According to the U.S. Census released in December 2013, Texas added more than 387,000 residents between July 1, 2012, and July 1, 2013, and more than 1.3 million since April 1, 2010, significantly more than any other state. Another significant statistic is that small businesses, being those businesses with fewer than 500 employees, numbered 2.2 million in Texas in 2008. Of those, 391,010 were direct employers, accounting for 45.9% of private sector jobs in Texas and constituting 98.6% of the state’s employers. Moreover, business ownership is becoming more inclusive in Texas. The number of women and minority owned businesses in 2007 exceeded 700,000, an increase of almost 50% over 2002.1 Because small businesses are a significant element of Texas’ economic landscape, family law practitioners frequently represent clients who own or have a community property interest in a small business. Family law practitioners need to understand the nature of the various business forms and entities, as well as the issues relating to characterization of the business entities. The importance of understanding the type of business entity, when and how it was formed, and any mutations of that entity are significant considerations when dividing the estate of the parties and determining potential equitable claims against the entity. In addition, organizational documents, such as partnership agreements, bylaws, shareholder agreements and company agreements, may contain sale restrictions and buy-sell provisions (which sometimes have divorce-specific provisions) and may affect the rights and obligations of the spouses in the context of a divorce. The involvement of a business law attorney and valuation experts early in the divorce process can significantly improve a family law attorney’s ability to perform a proper analysis and provide competent and accurate representation for his or her client. The purpose of this article is to assist family law attorneys in understanding (1) business entities, (2) the Texas Business Organizations Code and its relation to the Family Code, (3) the effect of entity formation on marital property character, (4) valuation of business entities in the context of divorce and (5) reimbursement claims by one spouse against the separate property business of the other spouse.
Current Issues and Trends in Business Divorce Litigation
The summer of 2014 was an unsettling one for minority investors in private Texas companies. In a series of three decisions, the Texas Supreme Court dramatically altered the existing legal landscape in a manner unfavorable to minority owners. For more than two decades, minority shareholders in Texas private companies could bring claims for shareholder oppression when their reasonable economic expectations were frustrated by the majority owners’ actions. In a majority decision issued in late June, however, the Court jettisoned the claim for shareholder oppression and held that it does not exist in Texas statutes or in common law. See in Ritchie v. Rupe, — S.W.3d — , 2014 WL 2788335 (Tex. June 20, 2014).
Positioning the Family Business to Remain in the Family or Ready to Sell to a Third Party (Additional Material)
Additional outlines
Tax Free Division – Family Business Succession Planning
These are the presentation slides.
What Every Business Attorney Needs To Know About Family Law
This paper will help you advise business owners about the impacts of divorce and family law upon businesses. This is important not only for the business owner who may be facing divorce, but for his business partners as well, who may find themselves and their interests affected by the divorce litigation. With an understanding of how Texas divorce law impacts businesses, business agreements can be drafted to shield the business and its other owners from the impact of one owner’s marriage and divorce.
What You Need to Know About Estate Tax Law in Order to Sell a Family-Owned Business, Business Succession and Estate Planning Issues
This paper is an outline of various issues in Tax, Estate Planning, Business Succession, and Family-Owned businesses.
What Every Business Attorney Needs to Know About Family Law
Family law can have sweeping impacts on a business. Upon divorce, a business-owner spouse can find that his spouse was not only a partner in marriage, but also a partner in the business, to whom they owe a fiduciary duty. This article is designed to equip you with the knowledge to recognize issues that can have a tremendous impact on a spouse and divorce. In addition, with this knowledge you can help a business owner plan their business to protect them in a divorce.
What You Need to Know About Estate Tax Law in Order to Sell a Family-Owned Business, Tax Free Division
Family business succession planning is the cornerstone of any successful family business owner‟s estate plan. As is often the case, however, planning for the inter-generational transfer of ownership and control of the business becomes complicated by the intra-generational conflicts of the business owner‟s heirs. These conflicts among members of the second generation, if severe enough, can render the effective management of the business by the second generation virtually impossible, leading to a loss in productivity and profitability with a resulting decline in the enterprise‟s value.
Asset Protection Planning for the Family Business Owner: Strategic use of multiple types of entities and trusts to own and protect closely held family business holdings and related investments
There are multiple tax and legal issues that should be considered when selecting an entity for a proposed business operation or investment. Typically, the tax consequences of the proposed structure and the limited liability available to the owners of the structure are the principal considerations taken into account. However, there are multiple non-tax issues that should also be considered by a client‘s legal advisor when selecting an entity or structure to fulfill the client‘s immediate goals. While the tax and legal issues are significant, serious consideration should also be given to the long-term non-tax issues and estate planning opportunities that a successful entrepreneur will regret not having planned for if not addressed when the entity and/or structure was designed and implemented. As with any legal planning, one must plan for the unexpected. Thus, when choosing a legal entity or structure for the client, it is important that the legal advisor take into account unexpected contingencies, particularly personal marital and creditor issues that might arise in the future. This paper will focus on the planning opportunities available to address such issues with comprehensive business entity planning.
How to Organize Your Business with Respect to the Estate Tax Situation, Case Study Examples
Not all that long ago, choosing a business entity used to be a relatively painless process. If you wanted limited liability you incorporated; and if limited liability was not important, you operated as a sole proprietorship or a general partnership. In a relatively short period of time, state and federal tax law changes along with the advent of new types of business entities have made the choice of entity a much more difficult and, in many respects, a much more important, decision for would-be business owners. Today the menu of business entities from which to choose is quite lengthy: a sole proprietorship, a general partnership, a limited partnership, a C or S corporation or a limited liability company; furthermore, certain entities offer various “extras” in certain situations, such as registering as a limited liability partnership or choosing to operate as a professional corporation or limited liability company. The choice will vary from state to state based upon the liability and tax considerations peculiar to each state. While the vast majority of businesses are operated in one of three forms, i.e. a corporation, a limited partnership or a limited liability company, most of the time, there is no absolute right or wrong answer. The circumstances of the business owners, their goals and desires and their long term plans all play a role in deciding which type of entity is the best for the business owner or business owners.
How to Organize Your Business with Respect to the Estate Tax Situation, Case Study Examples
These are the presentation materials.
How to Organize Your Business with Respect to the Estate Tax Situation
Not all that long ago, choosing a business entity used to be a relatively painless process. If you wanted limited liability you incorporated; and if limited liability was not important, you operated as a sole proprietorship or a general partnership. In a relatively short period of time, state and federal tax law changes along with the advent of new types of business entities have made the choice of entity a much more difficult and, in many respects, a much more important, decision for would-be business owners. Today the menu of business entities from which to choose is quite lengthy: a sole proprietorship, a general partnership, a limited partnership, a C or S corporation or a limited liability company; furthermore, certain entities offer various “extras” in certain situations, such as registering as a limited liability partnership or choosing to operate as a professional corporation or limited liability company. The choice will vary from state to state based upon the liability and tax considerations peculiar to each state. While the vast majority of businesses are operated in one of three forms, i.e. a corporation, a limited partnership or a limited liability company, most of the time, there is no absolute right or wrong answer. The circumstances of the business owners, their goals and desires and their long term plans all play a role in deciding which type of entity is the best for the business owner or business owners.
What Every Business Attorney Needs to Know About Family Law
Family law can have sweeping impacts on a business. Upon divorce, a business-owner spouse can find that his spouse was not only a partner in marriage, but also a partner in the business. Even worse, a business owner may not discover the impacts of divorce until a co-owner or partner becomes involved in a divorce. This article is designed to give a brief overview of many of the issues lurking in family law that can devastate a business. Hopefully, armed with some advance knowledge, a business owner can plan his or her business to minimize the impacts of a divorce.
Business Succession Planning: Protecting Business in Divorce
This article is designed to inform lawyers who represent small business owners about the potential issues lurking in the context of divorce, so that the business owner can better protect a business during a divorce.