By Royce Lanning | Published February 8, 2016 | Posted in Uncategorized | Leave a comment
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Gifts and Tax Planning: Transferring Appreciated Assets
There are a number of motivations to give a gift to loved ones during life; however, it is important to remember that certain assets are taxed more favorably if they are given after the owner’s death. As discussed in my recent blog post, The “Basis” for Good Planning: Using “Stepped-Up” Basis to Reduce Taxes, assets Read More
Read MorePart Two: Tips on Drafting an Enforceable Non-Compete Agreement
This is Part Two of my 4-part blog series on covenants not to compete. If you have not read Part One yet, please click on the link at the bottom of this page and you will be redirected to Part One. To summarize, in Part One, we addressed the “Who, What, When, Where and Why” Read More
Read MoreDo This. Don’t Do That – Exclusive, Permitted and Prohibited Uses
Exclusive use clauses are relatively common during commercial lease negotiations. An exclusive use clause prohibits a landlord from leasing to another tenant for the same business purpose as the existing tenant. For example, a tenant that operates mainly as a seafood restaurant might seek to prohibit the landlord from leasing space to another restaurant tenant Read More
Read MoreIs Time Really of the Essence?
Is Time Really of the Essence? Time is of the Essence. Though many have seen these five words in a contract, few actually understand the legal impact of this provision. Simply put, this provision means that if there are dates or deadlines contained in the contract, those dates are of critical importance, and strict compliance Read More
Read MoreTexas’ Open Carry Gun Law
Texas’ Open Carry Gun Law House Bill 910 (“HB 910”) became effective January 1, 2016. The previous licensing structure permitted individuals to carry a concealed handgun under certain circumstances. HB 910 amends the Alcoholic Beverage Code, Code of Criminal Procedure, Education Code, Election Code, Family Code, Government Code, Health and Safety Code, Labor Code, Local Read More
Read MoreThe Importance of an Active Lifestyle to Self and Community
Locally in The Woodlands, Texas, a master-planned community built around the concept of bringing nature and people together, an active lifestyle is always literally just outside your door. Quoting from the web site of The Woodlands Development Company “With 131 forested parks and 205 miles of hike and bike trails, you can bike, walk, run, Read More
Read MoreTo Trademark, or Not to Trademark…
Clients commonly ask, “What do I need to do to trademark _____?” Almost instantly, our response is, “Why do you want to trademark _____, and what are you hoping to achieve by doing so?” While almost everyone in the general public is somewhat familiar with the term “trademark,” many individuals and businesses do not actually Read More
Read MoreTenant Default: Are You Preserving Your Remedies?
My mother always said, “You can’t get blood from a turnip.” Being a fairly argumentative child (sorry Mom), I proceeded to suggest useful products that could be derived from a turnip and sold/traded for the money I was seeking. Commercial landlords are often faced with the same dilemma. Rent tends to be a high priority Read More
Read MorePart One: Who, What, When, Where & Why of Non-Compete Agreements
Non-competition agreements and their enforceability are the subject of many blogs and legal articles floating the web. I typically stray from over-blogged topics such as this, however, each time I am confronted with an issue involving a covenant not to compete, I find that the information on the web tends to be overly general and Read More
Read MoreSo, How Important are Corporate Formalities Anyway?
Typically, one of the most prevailing reasons that a business owner decides to incorporate their business is to shield them from or limit their personal liability for the debts and obligations of the business. While this is an important first step, simply forming a corporation or a limited liability company is generally not enough to Read More
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