Thursday, June 30, 2016
Nikki L. Laing recently published an Article entitled, Planner Beware: A Peculiar Exception to Traditional Texas Community Property Rules, 8 Est. Plan. & Community Prop. L.J. (Book 2) 423 (Forthcoming 2016). Provided below is an abstract of the Article:
A number of puzzling inconsistencies exist in the application of traditional Texas community rules to partnership interests. Estate, business, and asset protection planners alike should be aware of the exceptions that exist in the treatment of partnership interests. Whether a client is considering investing separate property in a partnership, making a distribution from a partnership, or giving a partnership interest to a child with the expectation that it will remain the child’s separate property, advisors should warn the client of the risks involved.