If you don’t have a specific provision in your will or trust that specifically gives your business to your beneficiary following your death, your executor, personal representative, or administrator may end up running your business. Texas Estates Code Section 351.201 et seq gives the probate court or a court sitting in matters probate authority to grant your executor power to run your business. In addition to the Texas Estates Code and the terms of your will or trust, you must also be aware of the provisions in your articles of incorporation, certificate of formation, operating agreement, and bylaws of your business. There are a lot of moving parts that you must consider.
Businesses in Georgetown, Texas are planning and preparing for the Old South Ball in order to celebrate Georgetown heritage. What legacy and heritage will your heirs and beneficiaries celebrate? A business law attorney will advise you to appoint someone you trust to serve as your agent, executor, or trustee who will run the business just like you would in case you become disabled or die. Call Marquardt Law Firm, P.C. at 512-766-3782, 210-530-4278, or 575-430-2353 today to schedule a personal consultation with our business attorney to meet you in Georgetown, Texas, San Antonio, Texas, or Alamogordo, New Mexico.