What Does This Mean for Limited Partners, LLPs, and LLCs? In Part 1, we covered the U.S. Court of Appeals for the Fifth Circuit’s decision in Sirius Solutions, LLLP v. Commissioner and the Fifth Circuit’s reasoning for siding with taxpayers over...

The Big Picture: Why Sirius Solutions v. Commissioner Matters Let’s cut to the chase: the U.S. Court of Appeals for the Fifth Circuit’s recent decision in Sirius Solutions, LLLP v. Commissioner is a game-changer for anyone who owns a piece of a...

Trusts are designed to protect assets, honor legacies, and provide for loved ones. But what happens when the person entrusted to manage those assets—the trustee—fails to act? Whether it’s ignoring a reimbursement claim, failing to pursue a legal...

In the administration of trusts, trustees are often called upon to make difficult decisions. One of the most consequential, and often overlooked, is the duty to pursue claims on behalf of the trust. Whether those claims involve reimbursement,...

I and others from Shields Legal recently had the privilege of attending the DFW India Chamber of Commerce Annual Awards Banquet—a gathering that was far more than a celebration of business excellence. It was a testament to the enduring ties between...

The 89th Texas Legislative Session delivered a series of targeted updates to estate, trust, and guardianship law. While not revolutionary, these changes are practical, strategic, and impactful for estate planners, fiduciaries, and families...

As the heat of the Big Beautiful Bill, simmers from its boiling passage, its immediate successes must be noted. Republicans did much of what they set out to do; they passed a single bill close to their self-imposed deadline that permanentized the...

At Pearson Partners International’s latest Spotlight Series Breakfast, held on June 10 at the Park City Club in Dallas, business leaders, legal experts, academics, and public affairs professionals came together to discuss “Strategic Agility:...

Imagine any of the following scenarios: (1) the markets take a tumble, and your portfolio is down; (2) a sector your business operates in or around has experienced a significant downturn; or (3) the world’s immediate economic forecast is uncertain....

High net wealth individuals frequently use trust structures in their estate planning to avoid the complications of probate for their loved ones after they pass. Trusts also offer a strategic advantage in addressing estate and gift tax issues....