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3 missteps to avoid when starting your own business

The anticipation of getting your new business off the ground may have you feeling motivated and driven. Of course, you want to ensure that you make the right choices and follow the right steps when it comes to forming your business to make sure that you do not end up having to deal with unnecessary complications. This may mean that you need to slow down and fully think through your actions, even if that also means curbing your enthusiasm, at least momentarily.

Should you add a trust as part of your complete estate plan?

As we turn the calendar from 2017 to 2018, many of us make New Year's Resolutions to get organized and plan for the future. One simple way to get your affairs in order is to craft an estate plan with a qualified attorney. Texas readers understand the importance of creating an estate plan, which:

Are you dealing with a construction defect? Don't face it alone.

When you build a home or you purchase a newly constructed home in Texas, you may find that there are certain issues that you must address. Minor flaws and problems are fairly normal in new construction, and homeowners may have to fix small things here and there as they adjust to living in their new homes. However, there is a difference between normal construction problems and construction defects.

Is it better to buy or lease a place to do business?

Running a Texas business involves much more than simply having a good idea and marketing that idea. There are many financial and legal matters to consider, including real estate. Where you will do business could matter as much as how you do business, and you will find it beneficial to carefully consider how you go about buying or leasing property.

4 aspects to consider when thinking about business succession

Over the years, you have likely formed a great attachment to your business. It has undoubtedly provided you with various opportunities for achievement and success, and you may wish you could continue running your company until you die. However, most likely you will choose to step down from your prominent position in the company when you reach retirement age or when other factors lead you to feel the need for change.

A will is not a catch-all for estate plan information

Like many Texas residents, you may feel ready to begin estate planning so that your family will know your end-of-life wishes when the time comes. You may also have a similarity with other individuals in that you feel uncertain where to begin planning and what documents to use. Because of its usefulness and versatility, you may first want to consider creating a will.

What does it mean that a shareholder filed a derivative suit?

Running a business involves making complex and perhaps even risky decisions in order to make it profitable and to find its place in the open market. As an officer or director of the business, you may be directly involved in many of those decisions. For better or worse, you do what you can to make the company a success and to make the shareholders happy.

The Benefits And Drawbacks Of Forming An LLC

One of the first critical decisions that a business owner needs to make centers on entity selection. Based on the goals of the new organization and the level of legal protection needed, there are numerous options available. From corporations (such as C and S corporations) to an LLC (limited liability company) to a partnership, a number of considerations go into the choice of entity.

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Plunk Smith, PLLC
1701 Legacy Drive, Suite 2000
Frisco, TX 75034

Phone: 972-370-3333
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Plunk Smith, PLLC
Plunk Smith, PLLC