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About Regan & Frisbie

The lawyers at Regan & Frisbie strive to provide high-quality professional representation Business Startups, Probate, and Estate Planning matters with a unique Texas perspective to all legal concerns. Estate Planning can be complicated, business formations can be stressful; therefore, our firm is committed to a personal tailored approach to every client’s needs while keeping in sharp focus their economic goals and objectives.

Let the Regan & Frisbie Law Firm be your choice, whether you need an attorney to create your start-up business, engage in complex business litigation,  assist you in estate planning, or in Probate matters. We are lawyers that strive for excellence in each and every case.

OUR PRACTICE AREAS

Regan & Frisbie Law Firm focuses on Business Law, Probate, and Estate Planning. Often, a client that comes in to our office to Probate a Will, also wants to protect their own assets by creating an LLC for the security, along with their own Estate Plan to ensure their spouse and children receive their inheritance. A business start up with five different members will want to protect their investment in the small business by having all the owners create an Estate Plan; this ensures stability and clarity for the future of the business. Regan & Frisbie focuses on these three areas because they complement each other and provide a more comprehensive plan for our clients. Regan & Frisbie is comfortable representing local businesses and individuals, as well as companies headquartered outside of Texas. If your business is based outside of Plano and Frisco or internationally and has a legal matter arise in North or West Texas, a local Texas law firm can provide significant practical insight.

Business Litigation

Sometimes business disputes arise, and when they can’t be resolved through negotiation or arbitration proceedings, business litigation can be used as a way to remedy the situation. Whether it’s a private individual or a business entity that has a legal issue with another business entity, we will look at common circumstances that are resolved with business litigation.

Business Formation

The type of business structure you choose affects your taxes, your state reporting, your powers, and oftentimes your bottom line. Corporations allow more investors and great liability protection for the shareholders or officers, but require more stringent reporting and possibly unfavorable tax breaks. LLCs do not require as much state reporting and can provide great liability protection for its members, but may limit the number of investors.

Contracts

Contracts form the backbone of business. They govern sales, rent, services and everything in between. A well written contract can save your business time and money that would have to be spent on a poorly written contract disputed, deemed unenforceable, or taken to court.

Shareholder Agreements

A properly written shareholder agreement can safeguard an investor’s interest in a company and ensure the independence of the officers in managing the company. Corporate Bylaws and LLC Operating Agreements also protect your interests in the small business in potential litigation and gives the business stability in the event of an Owner’s death with Estate Planning and Probate benefits.

Breach of
Fiduciary Duty

Breach of fiduciary duty can cause a strain between business partners or shareholders in closely held corporations. Executors in Probate Administrations and Agents with Power of Attorney  can also breach a fiduciary duty if they are not careful and are well advised on the dangers and pitfalls of their actions. A fiduciary duty requires affirmative action on the part of the Executor or Power of Attorney Agent, they cannot just sit back and hope things work out well.

Insurance
Disputes

If commercial insurance companies undervalue or deny a fair claim, then businesses, particularly small businesses, can recover the amount they are entitled to with business litigation. Insurance companies can sometimes attempt to avoid fully paying a legitimate claim, or even avoid paying it at all, by using confusing or deceptive wording in the contract. There are countless other areas in which a business may have a need for business litigation to resolve a dispute against another business.

When business disputes occur between a business and an individual or between two business entities, resolution without resorting to business litigation will always be preferable for everyone involved. In cases where that just isn’t possible, a good business litigation attorney can be invaluable in protecting your rights and your company’s business interests.

Finances
and Investments

Many people are concerned about their finances and investments now, so anyone who suspects that his investment broker has not acted ethically may bring business litigation against brokers who do not act in the best interest of the clients. If an investor suffers excessive financial loss as a result of unethical behavior by a broker, the investor can pursue business litigation. In the same vein as unethical broker behavior, which usually involves a broker pushing inappropriate investments on clients or failing to fully disclose investment information, is investor fraud, which involves deception.

Estate Planning

No one likes to think about their own death, but the fact of the matter is, we all die. It is all too easy, and all too often the case, that we put off or postpone planning for our death until it is too late. Unfortunately, dying without an Estate Plan today can be extremely expensive, time consuming, and can even result in an estate or family business owing millions of dollars to the IRS, bankrupting the business and leaving nothing to your spouse or children. A solid Estate Plan created now, can save your spouse, children, and heirs time in avoiding Probate Court, can ensure that your estate passes to those you love rather than according to the state laws, and can eliminate or reduce taxes, court costs, and legal fees. Most of all, it gives you peace of mind knowing your spouse and your children will be taken care of and secure.

Wills

A Will should be the foundation of every estate plan, simple or complex. At its basic function, a Will tells the Court how your property should be distributed, but it can also state how your debts are to be paid and name guardians for your children.  A Will used in conjunction with a Trust, often called a Pour Over Will, is a special will that “pours” your assets into your Trust.

Trusts

A Trust is an important estate planning tool that can be used to avoid the time and cost of Probate; it allows you to retain complete control over your assets while you are living and specifies how they will be distributed after your passing. Trust are extremely flexible, and can be structured to be as creative as you are, and can ensure a smooth and almost immediate transfer of your assets to your spouse or loved ones without lengthy procedure.

Probate

Probate is the process by which a Court administers and distributes the estate (property) of a deceased person. Certain property, especially real estate and property that is titled and that has not been placed in a Trust before the owner passes away, must pass through some form of Probate. A Will ensures the Probate Court distributes the property according to the owner’s wishes, while a Trust may avoid Probate completely.

Guardianship

Guardianship is important for children, but it’s also important for the adults. As our population ages and our life expectancy increases, more and more people who suffer from Dementia or Alzhiemers are in need of a guardianship.

For parents of young children, it’s important to have a guardian named for them in case you and your spouse pass away together. By having a guardian named in your Will, you are able to choose exactly who you want to take care of your children. It also makes it easier on the family members who must go through the court process to get guardianship of your children after you are gone.

 Power of Attorney

  1. The Power of Attorney allows your designated agent to act on your behalf in financial and contractual matters, and can be structured in various ways to meet your needs.
  2. Medical Power of Attorney, allows you to choose a designated agent to make healthcare decisions if you are unconscious or otherwise unable to make them yourself.
  3. HIPAA Authorization allows your designated agent to view your medical records, which is critical when medical decisions need to be made.

Series  LLC

A series LLC is a great vehicle for people who buy and sell real estate, or those who buy rental properties. Clients who come to us with real estate in their portfolio usually need LLC protection to protect those assets, and save on cumulative filing fees. Whether you have multiple properties that are a part of your family’s legacy, or you keep property as a form of income, a series LLC might be a smart decision.

What Sets Us Apart

  • The vision to see opportunities where others may see only obstacles. Passion for our work and an unshakable dedication to your interests and needs.
  • Lawyers who are authorities in their fields working in collaborative teams known for exceptional performance.
  • Shared conviction that open, straightforward communication is essential to earning your trust.
  • An ethical foundation based upon helping our clients, our employees and our communities.

We Walk the Walk

In 2015, when our firm was established, we set in place a comprehensive initiative that took the core values of the firm and developed them into a philosophy that drives the way each member interacts with clients and with one another on a daily basis. We live these values and integrate them into hiring, training, evaluation, and marketing and communications to ensure that we achieve our aspirations of providing the best client service in the legal industry.

Our firm values are:

1. Put People First
At Regan & Frisbie we are in the business of people. Taking care of people is what we do and we set the example by putting our members first. That means providing better benefits, providing better training, taking more time, and caring more about our people than any other law firm. Why? That is exactly what we expect of our members when we serve our clients. We set the example. We can’t ask our members to put our clients first if we don’t do the same for them.

2. Deliver Amazing Client Service
Regan & Frisbie is client service. It is our passion. We strive to provide more than asked, earlier than requested, and better than imagined. We “wow” our clients daily.

3. Exemplify Unquestionable Integrity in all We Do
Our word is our bond. We act at all times as if the client, the court, and our members are watching.  When it comes to Integrity, there is only one way.

4. Build a Fun and Enjoyable Work Environment
Our sub-specialty is fun:  We love what we do and we have fun doing it.  We know that enjoying our work, team, and environment leads to happier people, better service and satisfied clients.

5. Pursue Continuous Development and Learning
We push ourselves to improve every day.  We attract and retain talent not based upon what they have accomplished, but upon what they will accomplish.  We have an insatiable drive to become better every day and to never stop learning and improving.

6. Invest and Improve the Communities We Serve
We can’t do it alone and neither can the communities we serve.  We believe in continuous improvement for ourselves and our communities so we invest our time, talent and dollars to help our neighbors and neighborhoods. We work and live in the Plano and Frisco areas, this is our community, so when our community is successful, we succeed too.

7. Take Personal Responsibility
Each of us takes personal responsibility of process, product and results.  As Harry Truman said, “The buck stops here.”   Well, the “buck stops here” with each of us every day.  We own our work and our actions.

8. Treat Everyone with the Highest Degree of Respect and Empathy
We expect our people to treat everyone they meet with respect and empathy. We seek to understand and truly appreciate the best of everyone we encounter.

9. Deliver Value and  Excellence to Client and Firm
Each of us must deliver excellence and value to our clients and the firm.   Frisco and Plano are first class communities and we keep our standards at the top to match and exceed those expectations.

Nimble and Strong

Here at Regan & Frisbie, we take a hands-on approach with our clients. We empower our attorneys with the resources and knowledge to be able to make decisions, provide input and to provide the best legal solutions available in today’s climate. This autonomy means you as a client, get to better representation, and better advice.

Distinctive

Our clients tell us that they consider Regan & Frisbie to be a unique law firm because they see us as determined, distinctive and fearless whenever we undertake an assignment on their behalf.

Since the firm was founded in 2015, our attorneys have embraced a rich tradition of providing the very best in comprehensive legal representation.

They understand that total client satisfaction is the foundation upon which the firm is built, whether the call for our services takes us into the boardroom or the courtroom. It may sound cliché, but at Regan & Frisbie we care about our clients. We consider them to be not only our partners in business but a part of our family as well.

Our attorneys will take the time to understand your business, industry and goals before tackling complex transactions. They will provide aggressive representation in litigation, advising you when to settle or when to take your case to trial. Your calls will be returned promptly, your matters will be explained thoroughly and your assignments will be staffed appropriately, all with the goal of achieving the right result and while keeping your bottom line in mind.

A Resourceful Team

With a full legal team, our law firm handles a wide range of cases. We use our collective legal experiences when handling your case, including those related to business law, estate planning and personal injury. We handle both transactional and litigation-based matters.

Regardless of the area of law that is involved in your particular situation, our attorneys have the legal insight that is necessary to handle your case. At our firm, you will work one-on-one with an attorney, who will always have your best interests in mind when working toward finding a solution that meets your needs.

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Small Law Firms:

A law office with two to ten lawyers can be characterized as a small law firm. The benefits of working with a small law office can include one or more of the factors mentioned above for a sole practitioner. Additional benefits may include:

  • More expertise in a given specialty. In a firm environment, lawyers are better able to develop areas of expertise since they do not have to be all things to all people. Some small law offices are called “boutique” firms because they tend to specialize in a given area.
  • A small law firm can handle a broader range of legal matters. Some cases are simply too complex for a sole practitioner to handle.
  • Better coverage. No lawyer can be available all the time, so a benefit of a small law firm is having other lawyers to help out on a matter.
  • Pooling of knowledge and experience. It is always helpful on a complicated legal matter to be able to talk to other lawyers to pick their brains on legal strategies. A small law firm is a great environment in which to do this.

Meet Our Lawyers

We are a small but nimble team of lawyers here to help you.

Frequently Asked Questions

Sooner or later, everyone will need a law firm for something. Venturing into the realm of laws, lawsuits, and judgments for the first time can be a very daunting experience. Even experienced plaintiffs and defendants can have trouble getting the best performance and value out of their law attorney. Compound this difficulty with the fact that a lot of your success rests on how you choose your lawyer and who you end up with and it’s easy to come down with a bad case of analysis paralysis. If you follow a few simple rules, though, you can have much better success-and just as importantly suffer much less aggravation-in your journey through the legal system.

Do I need to probate a will?

Even though your loved one may have died with a Will, it is not always necessary to actually probate the Will. The decision to probate depends on a number of factors, including what property is being left behind by the deceased and who the beneficiaries are. Generally, real estate property left behind has to pass through Probate (or a Trust); however, if there are only personal items left by the deceased, it is often possible to avoid probate or take a less expensive route.

 

How much does Probate cost?

The cost of Probate depends on three main factors: if a Will exists; the assets; and the beneficiaries. If a Will does not exist then the Estate is required by law to have an Attorney Ad Litem appointed by the Court, typically costing the estate several hundred dollars; it is also required to post additional notices in county newspapers, costing the Estate a few hundred dollars more. By having a Will, the Estate is not automatically required to have an Attorney Ad Litem appointed nor required to publish the additional notices.

The cost to Probate an Estate is also determined by what assets are in the Estate. Real property and mineral rights often take more time to manage and transfer versus a simple life insurance policy with a named beneficiary or a bank account.

The beneficiaries are the third main factor in the cost of Probate. If the beneficiaries are all in agreement, the Probate process will go much more smoothly and with less cost.

 

How long does Probate take?

The Probate process can take as short as three weeks for a Muniment of Title, and several months or even several years for a Dependent Administration or Independent Administration depending on the assets in the Estate and if the beneficiaries

Who pays the taxes for the deceased?

The Estate is liable for the federal and state taxes of the deceased. Before the beneficiaries can receive their inheritance, all the taxes and debts of the Estate must be paid first. The Executor can sign the deceased’s last tax return.

Am I liable for the deceased debts?

Although debt collectors are not always forthcoming about this, the beneficiaries are not actually liable for debts of the deceased. The debts must be paid the estate before the beneficiaries receive any inheritance, but the individual beneficiaries are not liable for the debts of the estate.

 

Do I, personally, have to pay to Probate the will?

Typically, the Estate will pay the court costs and attorney’s fees to Probate the Will.

Do I need a Will?

A Will allows you to direct exactly who receives your assets after you have passed. A Will gives security and peace of mind to your spouse or children, secure in the knowledge that they will be taken care of and the property will remain in the family or go to your specific beneficiaries. Without a Will, your assets go according to the laws of Texas. As discussed above, by simply having a Will you will save your Estate close to a thousand dollars just in fees and publications costs alone.

Do I need a Trust?

A Trust is a great tool, but it is not for everyone. Those who benefit the most from having a Trust are: a family with only one breadwinner; a couple with more than one piece of real property; a couple with children under the age of eighteen; a couple with a special needs child; and a couple wanting to avoid Probate or a Will contest entirely.

 

What is a living will?

A living will is a healthcare directive. It allows a person to choose which level of care they wish to receive if they become terminally ill. A living will is often confused with either a living trust or a Will.

What’s the difference between a Warranty Deed and a Quitclaim Deed?

A Warranty Deed conveys real property from the Seller to the Buyer, and the Seller guarantees that he/she owns the property they are conveying to the Buyer. If a third party disputes the ownership of the property, the Seller agrees to defend the title.

A Quitclaim Deed conveys real property from the Seller to the Buyer, and the Seller makes NO guarantees. If a third party dispute the ownership of the property, the Buyer will have to defend the title.

Most Buyers will refuse to buy property under a Quitclaim Deed because it places all the potential costs on the buyer.

What are some of the advantages of forming an LLC?

The advantages of forming an LLC are numerous.

An LLC provides protection of personal assets and the company assets from lawsuits and seizure. The assets in an LLC are considered separate from the personal property of the person owning/running the LLC. If an LLC is sued for a breach of contract, an employment lawsuit, or an injury, typically only the assets in the LLC are at stake; all the personal assets of the individual owning the company are safe (the person’s house, car, bank accounts, life insurance, stocks, annuities, etc).

As an LLC, the business may be able to gain more tax deductions, especially if the LLC is designated as an S-Corp, which is discussed in more detail later.

As an LLC, members can buy into the business and sell their interest with much less complication than a sole proprietorship.

An LLC also provides more stability if a member dies, as the operating agreement provides for the management of the business and so the business is much more likely to be marketable to outside buyers in the event of the LLC owner passing away. LLC Membership Interest may be placed in a Trust, avoiding probate and allowing the membership interests to go to a specific person designated by the Member.

What are the biggest mistakes made by small business owners or LLC Members?

Two of the biggest mistakes made by small business owners as members of an LLC are that they commingle their personal account with the LLC business bank accounts and that they sign contracts in their personal names, not in the name of the LLC.

Keeping the owner’s personal bank account separate from the business account owned by the LLC is extremely important, and a failure to keep them separate may result in the LLC protections being disregarded by the courts.

When signing a contract for the business, it is important to sign your name as a member of the LLC. For example:   John Smith, as Member of the Smithworks, LLC.

What is an S-Corp?

An S-Corp is a type of a designation with the IRS that allows the business potentially to save a large amount in taxes each year. A business must be an LLC or Corporation to qualify to be designated as an S-Corp; a sole proprietorship and a partnership are not able to be designated as an S-Corp and so are not allowed to gain the tax benefits.

What is a Series LLC?

A Series LLC is a unique type of LLC typically used for real estate investors and owners of multiple rental properties. It allows the owner to create one LLC, thus saving costs and filing fees with the State of Texas, while allowing individual properties to be transferred into separate Series within the LLC. Each Series is separate from each other within the LLC, providing asset protection and cost savings.

 

Call Today

For excellent and caring representation at reasonable rates, contact us today.



(469) 200-4737

5850 Town & Country Blvd, #501

Frisco TX 75034

info@rfplawfirm.com