Tekell & Tekell, L.L.P.

Waco Legal Issues Blog

The new trends in child custody

Texas parents facing divorce may have many reasons for concern about their futures and the well-being of their children. Aside from the stress of dividing assets and debts, there is the overwhelming and emotional task of determining the most advantageous custody arrangement for the children.

In the past, custody was often decided by the courts using a formula based on faulty assumptions about the roles of parents in a child's life. If your parents divorced when you were young and you have unpleasant memories of your own childhood custody schedule, you may want to avoid the same confusion for your children.

Do you need a partnership agreement before moving forward?

Partnerships can act as an important aspect of a thriving business. You may find yourself feeling excited and confident when you feel ready to move forward with your company with the person you choose as your partner. Of course, no matter how excited you are or how perfect you think your business partner is, you may not want to move too quickly.

Before making any important business decisions, it would prove wise for you to consider creating a partnership agreement. You may initially think that having terms on paper is unnecessary because you and your partner came to verbal agreements. However, relationships can change over time, and confusion and stress can quickly infiltrate business endeavors. A contract could help keep certain aspects clear.

Old Advice Is Still Good Advice

Some advice is so good that it is timeless. One such piece of advice - attributed to Benjamin Franklin in the 18th century and Hall of Fame college basketball coach John Wooden in the 20th - is that "by failing to prepare, you are preparing to fail."

A similar pieces of advice handed down through the generations is "an ounce of prevention is worth a pound of cure."

These are both piece of advice that business owners, executives, and board members must take to heart.

What to do when your personal and professional lives collide

Many Texas entrepreneurs would say that mixing business with pleasure only invites problems. Even so, that doesn't stop many married couples from starting and operating a business together. Sometimes, an inverse relationship develops under these circumstances, and as the business thrives, the marriage withers.

If you find yourself in this position, you and your spouse, who is also your business partner, may decide to divorce. More than likely, you took steps to create some separation between your personal and professional lives when times were good, and keeping that up during this trying time becomes crucial to the continued success of the business.

3 aspects to remember when divorcing as a parent

When you decided that the time had come to file for divorce, you may have had a laundry list of reasons for why it was the best decision. Still, you likely have many concerns and apprehensions about the legal process itself and how you will contend with certain issues that will come up. You may even struggle with your emotions during this time, but allowing emotional reactions to guide your decision making may not work in your favor.

As a parent, you may have even more worries when it comes to how your kids will handle the divorce and what child custody arrangements will work in their best interests. Because their best interests should remain a top priority, you could have to keep your feelings regarding their other parent in check in hopes of ensuring that you come to the best arrangement possible.

Don't have a business plan? You may want to make one

You probably have a vision in your head of how your small Texas business will unfold. You look forward to making your dreams into reality and begin taking the appropriate steps to make that happen.

Other entrepreneurs may ask you whether you have already created your business plan, and you may wonder why it's even necessary since you are only opening a small business. After all, you aren't starting a corporation or a large operation. Even so, you may want to rethink creating a business plan since it has many uses.

Is it time to choose a successor for your family business?

Running your own company may have become one of the highlights of your life. The sense of accomplishment you have felt over the years and the successes your business has garnered may have filled you with a sense of pride. You may have felt an even greater sense of pride when your children were born, and the idea that you could one day pass your business on to them may have brought you great joy.

Now that you and your children have gotten older, you may wonder how to best go about considering who should take over the company at the time of your retirement or, possibly, your demise. Luckily, business succession planning could go hand-in-hand with planning for your company's future or even when considering your estate plan. Of course, as with any business decision, you will likely have many aspects to take into account.

What should you know about tortious interference?

There are many challenges that come with owning and operating a small business in Texas. It is not easy to maintain operations, stay profitable and meet all of your obligations, and sometimes, the temptation to step over the line with the competition can be too much. When the behavior of a competitor is improper and unfair, the other business has the right to hold the competitor accountable.

If you believe that your business is being impacted by tortious interference, which is the improper conduct of the competition directed at your business, you may be unsure of what to do next. You would be wise to reach for experienced business law help in order to appropriately confront the actions of the other business and to protect the interests of your own.

Are you selling your business as part of the divorce?

Perhaps you and your spouse opened a business during the marriage. Over the years, the business thrived, but your marriage did not. Now, as you face a divorce, you agreed that selling the business is the best choice for you both.

The question is determining its value. You and your soon-to-be spouse agreed on how to split the proceeds, but you want to make sure you get a good price since you won't be sharing the money together. Instead, each of you only receives a share as part of the divorce. You have a choice of methods for valuing your business depending on your circumstances.

Business contracts could help better protect your company

As you have reached the point in your life when you feel ready to move forward with your long-desired business venture, you likely feel a sense of excitement and accomplishment. Though you may have already gone through many of the business formation steps necessary to get the ball rolling, you could still have much to do in order to get your company off the ground. While you bring more individuals on to help achieve your goals, you may need to more closely consider your business contracts.

Contracts often play an essential role in any company dealings. Without these agreements, you could find yourself in disputes or facing other issues that you did not foresee. With these legal documents in place, however, you may lessen the likelihood of conflict between yourself, business partners, employees or other related parties.

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