Stevens & Malone, PLLCStevens & Malone, PLLC2026-02-24T09:52:06Zhttps://www.stevensmalonelaw.com/feed/atom/WordPress/wp-content/uploads/sites/1200749/2021/02/cropped-SM_FAV-32x32.pngOn Behalf of Stevens & Malone, PLLC<![CDATA[Which assets need to go through probate in Texas?]]>https://www.stevensmalonelaw.com/?p=469812026-02-24T09:52:06Z2026-02-24T09:52:06ZWhat is probate?
If you pass away, courts will settle your estate through probate – a process that transfers the ownership of your probate assets to your heirs. The executor you appoint in your will will fulfill your last wishes and distribute your assets to the appropriate beneficiaries. However, if you have any outstanding debts, the executor or administrator will use your estate to settle them before transferring what remains to your heirs.
What are some examples of probate assets?
Assets typically require probate if you are their sole owner. Similarly, assets that transfer ownership after you pass away do not need to go through probate. The most common examples of such assets include:
Real estate that you solely own in Texas and in other states
Solely owned Bank accounts without a payable-on-death designation
Any of your solely owned vehicles
Personal property like your jewelry, clothing, collectibles, firearms and household items
Business interests held individually, including closely held shares or membership interests that require estate action to transfer
Refunds or payments that people need to pay you, like unpaid wages or reimbursement claims that require an executor or administrator to pursue
However, not all assets need to go through the probate process in Texas. Assets with named beneficiaries or real estate with transfer-on-death deeds under the Texas Estates Code Chapter 114 can generally bypass probate.
What makes probate so important?
Probate is an essential legal process that ensures your assets reach the beneficiaries you appoint. This means that after you pass away, your estate will go to the appropriate people. The process also uses your estate to pay your debts and taxes. It acts as the final legal mechanism to settle a person's financial affairs, acting as a safeguard for heirs, beneficiaries and anyone you may owe money to.
]]>On Behalf of Stevens & Malone, PLLC<![CDATA[Key legal steps in buying or selling a business in Texas]]>https://www.stevensmalonelaw.com/?p=469802026-01-26T18:46:53Z2026-01-26T18:46:53ZBuying or selling a business in Texas is a major decision. It can affect your money, your responsibilities and your plans going forward. Each step has legal rules that matter. Missing something early can cause problems later.
Business valuation and preparation
The process usually starts by figuring out what the business is worth. Sellers often collect financial records, tax returns, contracts and employee information. This helps set a fair price.Buyers use this information to decide if the business makes sense for them. Good preparation can also uncover problems early. Missing paperwork or unpaid debts can slow the deal or lower the value.
Letter of intent and due diligence
Many deals begin with a letter of intent called an LOI. This document explains the basic terms being discussed like price and deal type. It usually is not a final agreement. Some parts like confidentiality are often binding.After the LOI, the buyer reviews the business in detail. This step is called due diligence. It includes looking at finances, contracts, lawsuits, taxes and ownership of things like trademarks. Due diligence helps the buyer spot risks that may not be obvious at first.
Structuring the deal and drafting agreements
You must decide whether the transaction will be an asset sale or a stock sale. Asset purchases allow buyers to select which assets and liabilities transfer. Stock sales transfer the entire entity including existing obligations.The purchase agreement then governs the deal. It typically addresses representations, warranties, indemnification, non-compete terms and closing conditions. This document controls what happens if problems arise after closing.
Texas tax clearance and closing
Texas law can impose successor liability for unpaid state taxes. Under Texas Tax Code § 111.020, buyers may become responsible for a seller’s unpaid taxes unless a Certificate of No Tax Due is obtained from the Comptroller. This requirement makes tax clearance a critical step before closing.Closing involves executing final documents such as bills of sale and lease assignments. Funds transfer and ownership legally changes.
Why legal guidance matters
Business sales involve overlapping contract, tax and regulatory issues. Missing a consent, misunderstanding liability exposure or overlooking statutory requirements can create costly disputes later.Working with an attorney familiar with business transactions helps you understand risks at each stage. Legal guidance can also support negotiations, document drafting and compliance with Texas law. Careful legal planning does not guarantee a perfect outcome. It can help you move forward with clearer expectations and fewer surprises.]]>On Behalf of Stevens & Malone, PLLC<![CDATA[4 common deed types used for property transfers in Texas]]>https://www.stevensmalonelaw.com/?p=469792025-12-29T14:06:58Z2025-12-29T14:06:58ZWhat a general warranty deed offers
A general warranty deed provides you with the strongest level of protection when buying property in Texas. When a seller uses this deed, they warrant that the title is free from any claims or defects covering the property's entire ownership history—even if the issue arose before they owned it.
For example, if a valid claim arises from a previous owner's unpaid taxes or undisclosed lien, the seller is legally responsible for resolving it for you. This deed type is the standard for traditional real estate sales and offers you the highest level of legal security.
What a special warranty deed covers
A special warranty deed offers you more limited protection than its general counterpart. With this deed, the seller warrants that the title is free from defects, but only regarding issues that arose during the time they owned the property.
This means the seller does not take responsibility for any title issues caused by previous owners before they acquired the property. You will typically encounter this type of deed in commercial real estate transactions or when buying a property owned by a bank (REO) after a foreclosure.
What a quitclaim deed does
A quitclaim deed simply transfers whatever ownership interest the seller has in the property. The seller makes no guarantees about the title's condition or even whether they actually own the property.
This offers the least protection for buyers. In Texas, title insurance companies generally view quitclaim deeds as a "red flag" and may refuse to insure the property, which can make it very difficult for you to sell or finance the home in the future.
What a deed without warranty means
A deed without warranty transfers property ownership to you without any promises about the title's condition. Unlike a quitclaim deed, this document conveys the property itself rather than just the seller's current interest, which helps maintain a clearer chain of title.
You may encounter this deed if you inherit property, as estate representatives often use it to distribute assets to heirs without taking on personal liability. If you accept a deed without warranty, you must understand that you have no legal recourse against the seller if title problems arise later.
Choosing the right deed for your situation
Selecting the appropriate deed type requires careful consideration of your circumstances and goals. Your choice impacts both your legal liability and the buyer's level of protection.
Legal professionals can help you evaluate your specific situation. An attorney can review the property's title history, identify potential issues and draft language that helps protect your interests. They can also explain the legal implications of each deed type and help you understand the long-term consequences of your choice.]]>On Behalf of Stevens & Malone, PLLC<![CDATA[5 signs you need to walk away from a business purchase contract]]>https://www.stevensmalonelaw.com/?p=469782025-12-03T14:13:52Z2025-12-03T14:13:52ZThe decision to buy a business is a major life step, full of promise but also significant risk. You sign a purchase contract intending to move forward, but sometimes, during the process, facts emerge that make the deal seem suddenly unwise. Knowing when to stop and walk away before the closing date can save you substantial time, money and legal trouble.
Significant discrepancies in financial records
You rely on the seller's financial representations to determine the business's true value. If the books show major inconsistencies, you have a problem.A business purchase in Texas is typically an "as is" transaction. This means the buyer accepts the business with all its existing flaws, known or unknown.A seller commits material misrepresentation when they provide false information that influences your decision to buy. This gives you strong grounds to terminate the contract and potentially sue the seller.
Failure to provide complete due diligence access
Due diligence is your right to fully investigate the business before closing the deal. This includes reviewing all financial, legal, and operational documents. The seller must cooperate fully with your requests.A serious issue likely exists if the seller repeatedly delays, hides or refuses access to important documents. If the purchase agreement has a due diligence contingency, the lack of cooperation from the seller may give you a clear exit.
Undisclosed or new lawsuits and liabilities
A pending lawsuit can quickly drain a business's cash and reputation. During your initial review, the seller must disclose all existing or threatened litigation, as you buy the business and its liabilities.In Texas contract law, the contract often contains representations and warranties. These are promises the seller makes about the business's legal status. A breach of these warranties, such as failing to disclose a lawsuit, usually allows you to end the agreement without penalty.
Inability to secure financing as planned
Most business purchases depend on the buyer securing a loan. The purchase contract should include a financing contingency clause that protects you if your lender declines your loan application.If you cannot secure the necessary funding despite your best efforts, the financing contingency lets you terminate the contract. Without this clause, you risk losing your earnest money deposit or facing a lawsuit for breach of contract.
Essential employees or customers suddenly leave
The value of many businesses lies in their key personnel and customer base. You bought the business assuming these relationships would continue after the sale. The loss of critical employees or major clients before closing can fundamentally change the business's value.A Material Adverse Change (MAC) clause allows you to terminate the contract if a significant, negative change affects the business between signing and closing. The sudden departure of a manager or a top customer may make the deal no longer worth the agreed-upon price.
Clarity and guidance are critical
The decision to walk away from a business purchase contract is never easy. However, proceeding with a bad deal is always worse. If you encounter any of these red flags during your acquisition process, it is imperative to enlist the help of someone who can review your situation and guide you toward a legally sound decision.]]>On Behalf of Stevens & Malone, PLLC<![CDATA[4 FAQs about probate in Texas]]>https://www.stevensmalonelaw.com/?p=469762025-11-07T17:30:45Z2025-11-07T17:23:13ZMy loved one left a will. What will happen during probate?
If your loved one left a will, the probate court will process its authentication to assess the document’s validity. After this, they will call on the will’s “executor” to formally begin their estate management.
During this court-supervised procedure, they will identify your loved one’s assets and estimated values, settle any of their outstanding bills, debts and taxes, notify their creditors and contact their list of beneficiaries to distribute their inheritance.
Where do I need to file my loved one’s will?
Probate cases in Texas are filed in the county clerk’s office. However, if you live in a county with a much larger population, you will need to file their will in the statutory probate court.
Keep in mind that you must file your loved one’s will within four years from their date of death. Failing to file it within this period can lead to significant legal complications for their heirs and/or charitable beneficiaries.
What is a small estate affidavit (SEA)?
If your loved one’s estate assets amount to less than $75,000 and their debts are not larger than their assets, you may be able to submit a sworn written statement that can help you settle their estate’s affairs and distribute their inheritance outside of probate.
However, it is ideal to consult with an estate planning attorney first before you create your document and file it. This is because if the judge assigned to your case does not approve the SEA, you will not be able to reimburse your filing fees.
Which types of property are exempt from probate?
Any type of property or assets that have designated beneficiaries are exempt from probate. These include life insurance policies, retirement accounts, assets placed under a living trust, real estate property with valid transfer-of-death deeds (TODD) and payable-on-death (POD) bank accounts.
You are not alone on this journey
Understanding how probate works can feel overwhelming when you are dealing with a significant loss. However, when you find the right resources and receive your family’s support, you can make the process more manageable in your end.]]>On Behalf of Stevens & Malone, PLLC<![CDATA[5 qualities to look for when choosing an executor]]>https://www.stevensmalonelaw.com/?p=469752025-09-25T12:28:29Z2025-09-25T12:28:29ZOrganized and detail-oriented
An executor deals with a lot of papers, deadlines, and bank accounts. They keep track of money, debts, and what goes to whom. Someone who pays close attention to details stops mistakes and keeps the process smooth.
Trustworthy and fair
Your executor must always act in your estate’s best interest. You need someone you trust completely to make fair choices, especially if family feelings are involved.
Within close proximity
Managing an estate often means being there in person. This could mean getting into safe deposit boxes, seeing properties, or going to court. An executor who lives close by makes these tasks easier.
Has financial acumen
Executors handle money, pay bills and give out inheritances. A person who understands money can manage your estate’s complex parts well. This helps avoid expensive errors.
Stays calm under pressure
The probate process can bring unexpected problems. An executor needs to stay steady to handle tough situations, settle arguments, and talk clearly with beneficiaries and lawyers.
Picking the right executor is crucial
Your chosen executor has important jobs. They manage your property and make sure beneficiaries get their share. This complex role often gets help from experienced lawyers. A legal professional can help your executor understand Texas probate law, avoid common mistakes, and do their job right. This makes sure your estate plan works exactly how you wanted, giving you and your family peace of mind.
]]>On Behalf of Stevens & Malone, PLLC<![CDATA[Understanding probate roles: Who manages your estate?]]>https://www.stevensmalonelaw.com/?p=469722025-09-08T11:41:06Z2025-09-08T11:31:44ZExecutor vs. Administrator
The executor is the person who you appoint in your valid will to carry out your directives and fulfill your final wishes. However, if you pass away without a valid will, or if your executor becomes unable or unwilling to serve, the court appoints a family member or a professional to oversee the role as an administrator.
Upon the probate court’s validation of your will, your executor formally proceeds with the full management of your estate’s affairs. Their tasks will include:
Managing the inventory of your assets and their estimated values
Paying off any outstanding bills, debts and taxes from your estate funds
Publishing an official notice to your creditors
Distributing your assets to your named beneficiaries
Arranging and fulfilling your funeral directives
Closing off your estate by notifying the court
If your will has a clause about your executor’s fees, the probate court will uphold those terms and administer the payment. However, if there is no mention of this in your document or if you died without one, the probate court will determine the executor’s fees based on the state’s law.
How does an administrator’s role differ?
Although the administrator’s role is quite like an executor’s role, their probate process may follow a different path if you died without a will. In this situation, your administrator will distribute your assets according to the state's intestate succession laws.
Under this law, your asset distribution will follow a hierarchy-based order of inheritance, where your family members will be the first in line to receive your probate assets over your distant relatives.
Dying with dignity and peace of mind
When you plan for your future death, you leave this place with the assurance that your assets will be given to your chosen heirs the exact way that you intend them to be. This step not only helps protect their inheritance but also eliminates any legal challenges that may arise upon your passing.]]>On Behalf of Stevens & Malone, PLLC<![CDATA[Ensuring a smooth and secure real estate closing]]>https://www.stevensmalonelaw.com/?p=469702025-08-13T14:40:36Z2025-08-13T14:40:36ZUnderstanding the closing process
Closing is the legal transfer of property from the seller to the buyer. It involves signing documents, transferring funds and ensuring all terms of the sale are met. The process may include title searches, home inspections and final walkthroughs. Missing details can delay your transaction or create legal issues. Approaching each step carefully prevents these problems.
Knowing what to expect during closing allows you to prepare documents, respond quickly, and keep the transaction on track.
Key challenges in real estate closings
Even well-prepared transactions can face obstacles. Common issues include:
Title concerns: Liens, ownership disputes, or errors in public records
Financing setbacks: Loan approval delays or changes in lending terms
Inspection disputes: Repair disagreements or property condition issues
Document errors: Missing signatures or incorrect information
When it comes to closing a real estate transaction, professional guidance makes a real difference. Attorneys, title companies and real estate agents oversee the process to ensure documents are accurate, funds are transferred securely and deadlines are met. This attention protects your investment and ensures the transaction proceeds smoothly and securely.
Experienced professionals know local rules and market conditions. They make your real estate transaction faster and safer.
Steps to ensure a smooth closing
Preparing for a real estate closing requires careful attention to detail and proactive planning. To protect your investment and reduce risks, apply these practical steps:
Work with experienced professionals: Select attorneys, title companies, or agents who are familiar with the Texas Hill Country market.
Review documents carefully: Confirm accuracy before signing to prevent disputes or delays.
Verify financial arrangements: Handle all payments and transfers securely
Monitor deadlines closely: Keep the process on track and avoid last-minute issues.
Following these steps strengthens your position, prevents surprises and helps ensure a smooth closing.
Securing your investment
A real estate transaction goes well when you prepare, pay attention and get reliable help. Learn the process and plan for challenges. Work with experienced professionals to keep your transaction smooth and safe. These steps protect your investment and make closing easier.]]>On Behalf of Stevens & Malone, PLLC<![CDATA[Can I quit being an executor of a will?]]>https://www.stevensmalonelaw.com/?p=469672025-07-03T18:59:49Z2025-07-03T18:59:49Zjob as an executor is to administer your loved one’s estate. This means identifying and valuing all assets, tracking down and paying all debts, filing a final tax return on their behalf and distributing the assets according to the terms of their will.
These tasks involve deadlines, paperwork and filing documents with a court. If a dispute arises, such as someone contesting the will, you must handle that, as well.
If this sounds like a lot of work, that’s because it is. Serving as an executor of a will requires a significant investment of time and brain power.
You might not feel ready to take on these responsibilities. Or an unexpected event could occur that leaves you unable to continue to fulfill your duties as executor.
Being named as an executor does not mean that you must serve
You can decline to serve by signing a “renunciation of nominated executor” form and filing it with the court in which your loved one resided.
A comprehensive Texas estate plan typically involves a will appointing an executor and backup executor. Once you file your renunciation form, the backup executor can take over. If there is no backup executor named, one of the heirs can petition to serve.
When you are already serving as an executor and wish to resign, you cannot resign without the court’s permission. You must file a petition for permission to resign as executor.
You must show good cause for resignation. For example, good cause could be having a child or accepting a new job, if you can demonstrate that the event leaves you with no time to continue to serve as executor.
The court’s role in the resignation process
After filing your petition to resign and presenting your good cause for resignation, a court will evaluate the situation and determine if your resignation is in the best interest of the estate. There is no guarantee that your petition will be accepted, so you should be prepared to continue as executor if required.
Whether a court grants your petition to resign depends on various factors unique to your circumstances. If there is no heir or other suitable option available to serve as executor or if there are only a few minor tasks left to do before closing out the estate, a court could decline a petition to resign.
Even if a court allows you to resign, you must provide an accounting to all beneficiaries regarding all financial transactions you made as executor. The beneficiaries may allow this requirement to be waived by unanimous consent in writing.
Without this consent, providing the accounting is necessary. This can lengthen the resignation process. In the end, you may decide it is easier to remain as executor and finish your remaining duties.
If serving as an executor sounds daunting or is something you know you do not want to do, it is best to resign at the beginning. Once you are in the role, there is no guarantee that you will be able to get out.]]>On Behalf of Stevens & Malone, PLLC<![CDATA[What documents do I need to start a business in Texas?]]>https://www.stevensmalonelaw.com/?p=469652025-06-11T17:55:12Z2025-06-11T17:55:12ZBusiness plan
Although it is not a legal requirement, the first step in starting a business should be drafting a business plan. A business plan is a written document that serves as a roadmap for your business.
A business plan has several sections, starting with an executive summary, which states the purpose of your business and how it will be successful. Other parts of a business plan include detailed information on your product or service, market analysis, organizational structure and financing information.
There is no specific way to write a business plan, although there are templates online that can get you started.
Licenses and permits
Next, obtain any licenses or permits you need to run your business. A general business license is not required in Texas. However, you must still determine if any other licenses, certifications, permits or registrations are required for your specific business. Examine these requirements at the state, federal and local levels.
If you plan to operate your business as a trade name or any other name other than the legal name of the business, you must register a DBA (“doing business as”) for your business. This requirement applies no matter what type of business structure you have.
Partnerships and corporation documents
From there, your necessary documents depend on your type of business structure. If you are forming a partnership, a written partnership agreement details each partner’s ownership share and responsibilities.
If you incorporate your business, your business exists as its own separate entity. This comes with several advantages but it also means there are certain documents you must file.
For example, if you form a C corporation, documents you must file include articles of incorporation and bylaws. You must also hold at least one annual board meeting and file the minutes from that meeting.
Federal tax ID number
Additionally, if you operate your business as anything other than a sole proprietorship, you must apply for and obtain a federal tax ID number or employer identification number through the Internal Revenue Service. When you are a sole proprietor, you can use your own social security number on legal documents.
Starting a business in Texas should be an exciting time. Many people believe that starting a business involves nothing more than having an idea and opening a storefront, but it is much more than that.
As you research the legal requirements and documentation involved, it is natural to feel confused or overwhelmed. Starting a business can feel burdensome at first, which is why it is best to know and understand the requirements up front. Having your documents prepared and ready to go will set you up for success as you begin your life as a Texas business owner.]]>