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Fifth Circuit’s Decision is “Sirius” Business: A Texas-Sized Win for Limited Partners (and a Headache for the IRS) – Part 1
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...
Why Business is Bigger and Better in Texas
The Lone Star State continues to solidify its position as one of the most attractive jurisdictions for businesses in the United States. In 2025 alone, the Texas Legislature passed a number of bills that further demonstrate the state’s deliberate...
When a Fiduciary Fails to Act: Beneficiary Options
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...
When a Trustee Fails to Act: Trust Claims, Legal Duties, and the Unspoken Personal Liability of Trustees
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,...
Shields Legal Group is in the Business of Doing Good
We believe business can—and should—be a force for doing good. Shields Legal Group was recently featured in the 2025 Communities Foundation of Texas Annual Report as a long-standing Center for Business Impact cornerstone sponsor and an example of...
Unlocking Flexible Capital: Key Considerations for Delayed Draw Financing
Introduction Shields Legal represents lenders and borrowers in transactions where companies seek to expand their businesses or acquire related entities. The roll-up strategy continues to be an increasingly popular business model. A roll-up strategy...
The New Rules of Wealth Transfer: Planning for Growth Under OBBBA
Most entrepreneurs think about taxes only at two moments: when they make money and when they sell. But for business owners and investors whose enterprises continue to grow, the largest tax bill of all often arrives later, at death. Estate planning...
Compliance Counts: When Simple Tax Missteps Derail Sophisticated Plans
In tax planning, precision and creativity can yield enormous benefits—but only if compliance is executed flawlessly. Many “seemingly small” compliance failures—such as missed elections, overlooked disclosures, or incomplete forms—can unravel...
Refinancing Your Commercial Loan With Confidence: Practical Guidance to Unlock Better Terms for Your Business
Introduction Shields Legal’s banking and finance team routinely supports businesses in finding new lenders and securing better loan terms. This process starts with determining a company’s financial goals, evaluating the company’s current financing...
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