Blog – Legal Insights on Business Law,
Estate Planning & Elder Law
LLC vs. Inc.: What’s the Difference?
The difference between the LLC and Inc. appended to your business name is a matter of organization. Limited liability companies (LLCs) offer a flexible management structure and direct member ownership, while corporations require a more formal approach with ownership...
7 Unique Benefits of Having an LLC in Texas
From pass-through taxation to personal liability protection, learn the key advantages of forming a Texas LLC. Guidance from Austin business attorneys at Barnett & Leuty.
Can a Trustee Be Held Personally Liable?
If you are ever appointed a trustee, you will have a fiduciary duty to act on behalf of the beneficiaries. If you breach that duty, you may find yourself in court. Being a trustee is not an easy job. Trustees must follow the terms of the trust and are accountable to...
How to Choose the Right Business Entity for Your Company
Business Entity Formation Business entities can take many different forms - sole proprietorships, partnerships, limited liability companies (LLC), and corporations are the most common ones. Although they are simple and have the most flexibility and least regulation,...
Using a Trust to Help Fund the Payment of Estate Taxes
Consider this dilemma faced by a high-net worth individual: He doesn't want his heirs to be burdened with estate taxes so he takes out a life insurance policy to cover the tax bill. But then the proceeds of the insurance policy wind up as part of his estate — only to...
Would a Revocable Trust be Beneficial to You?
When developing an estate plan, a revocable trust can provide benefits that, in some cases, significantly outweigh the cost of setting one up. A revocable trust offers great flexibility, can save money by avoiding probate, provides privacy about your finances and it...