How to distinguish the difference between an asset purchase and a stock purchase
It’s exciting to buy or sell a business. It’s a time full of many considerations and many questions. The most fundamental question is whether to structure the transaction as an asset purchase or as a stock purchase. The answer you pick will have many implications. Consider the following.
Why is an asset purchase good?
Buyers tend to prefer asset...
There seems to be no limit to the confusion surrounding signers and ownership rights on bank and investment accounts.
Even financial institution employees get it wrong.
Read on to get it right in Texas.
An account is just an agreement, called a contract of deposit, that you have with the financial institution. The terms on your contract control access, ownership and what happens to the account when you die.
Let’s start simply. On...
With so much disagreement nowadays, here is one thing we can all agree on:
Leaving money outright to a minor child is a really bad idea.
It is such a bad idea, in fact, that most judges will take extraordinary steps to tie up the money for as long as the law permits rather than see it be squandered by a shiftless parent, guardian or 18-year old.
So if there is universal...
It’s really all in the details, isn’t it?
Several new laws that were passed in the 84th Legislative Session weren’t headline-makers, but they sure did clean up some glitches in the system.
HB 3316 is a great example. It’s not unusual for an agent under a Power of Attorney to sign a deed or some other type of document that is a real property transaction, but there hasn’t been a clear...
I've been meeting with clients after the death of a family member for more than 35 years. There is one question that always comes up but for which the client never has an answer is “Is the account a joint tenant with rights of survivorship account (JTWROS), payable on death (POD) account or a convenience account?”
Ownership on death passes by will or inheritance (if there is no will) is...
You’re bombarded with information about safeguarding your bank accounts from scam artists, identify thieves, embezzling employees and errant spouses. Yet there’s an even bigger threat to the money in your account: your own bank.
Banks don’t like to lose money. They don’t like to be in the middle of lawsuits as stakeholders. They don’t like to be held liable for their own mistakes.
Consequently, if they have an excuse not to...
Founded in 1984, Hammerle Finley Law Firm represents clients at every stage of life. Our areas of practice include business law, litigation, employment law, family law, estate planning, probate & guardianship, banking law, and personal injury.