When it comes to the practice of estate planning, designated beneficiaries are an important part of ensuring your loved ones are taken care of after your death. In the broadest sense, a beneficiary is a person who receives a profit, advantage, or benefit. Following a death, a designated beneficiary will typically receive some form of payout directly, without having to go through the probate process. Though you may think your will or trust will override all other designations to control how money will be distributed after death, this is not always the case. Once beneficiary designations are put into place on a specific account, then the contract provisions specifying ownership and distribution after death will control.
Construction lawsuits can often be quite frustrating for those involved. Oftentimes, a slight defect in a job or at a job site can result in a lawsuit being filed before the issue has a chance to be resolved. Now, many Texans working in the construction industry will be pleased to learn of a new law that recently went into effect that helps to mitigate knee-jerk lawsuit filings from occurring.
Summary judgment was recently entered in favor of Caterpillar in a substantial products liability case pending in the Eastern District of Texas. Plaintiff, AIG Europe, Ltd. (“AIG Europe”), as subrogee of Baker Hughes Incorporated, sought to recover damages in excess of $15 million in connection with a fire at the St. Lucia Well Site fracking operation in Loving County, Texas.
MehaffyWeber is pleased to announce Managing Shareholder Bob Black recently joined the American College of Civil Trial Mediators (ACCTM) as a Fellow. Established in 1995, the ACCTM is a non-profit organization of professional mediators across the country. Mr. Black is one of only a handful of mediators from Texas selected for membership in the prestigious ACCTM Fellows.
As many Texans – especially Houstonians – know, the months of July, August, and even September can raise concerns about temperamental weather, especially hurricanes. With flooding concerns on the rise in many areas of Houston, it’s important to note that it’s not just homeowners who feel the pressure during these weather events; those in the construction industry also have concerns. The legalities and building regulations involved in a post-Harvey world are changing and will likely continue to change for those in the construction industry, as more storms (and more flooding) occur.