Warning! Do You Have An Ownership Interest In A Business?If so, then you need to know about the new reporting requirement of Beneficial Ownership Information under Federal Law. The Corporate Transparency Act (CTA) was enacted by Congress in 2021, and it mandates the disclosure of beneficial ownership information. The law aims to prevent misuse of legal entities for illicit activities …
Generational Transfers – Does It Matter When You Transfer An Asset To The Next Generation? The simple answer is “yes” – but the better question is “why does it matter when you transfer an asset to the next generation?” At a basic level, there are two ways to accomplish a generational transfer. You can transfer an asset while you are …
Trust Administration 101Fidelis Law PLLC assists many individuals and families with setting up a wide variety of trusts. However, it is important to understand that establishing a trust (the drafting of the documents, signing of the documents, and funding of initial trust assets) is only the beginning. The process that follows the is what is known as “trust administration.”What is …
The Basics of Child Support in Tennessee In Tennessee, every parent has a legal duty to support their children. Under Tenn. Code Ann. 34-1-102, both parents are equally and jointly responsible for their minor child’s “care, nurture, welfare, education and support.” The statute goes on to state that this duty to support a biological or legally adopted child continues until …
After decades of debate and controversy, the legal and regulatory realm of college athletics has now experienced a major shift regarding compensation for student-athletes. This shift has left many wondering exactly what this means for the future of college athletics. In June of 2021, the Supreme Court ruled on this longstanding issue in the case of National Collegiate Athletic Association …
Britney Spears was one of the most iconic popstars of the early 2000’s, and as such, most aspects of her personal life have played out in the public eye – including her placement in a conservatorship thirteen years ago. The circumstances around her conservatorship have attracted attention within the past year with the release of the documentary, Framing Britney Spears, …
When preparing a child to go off to college, it is important to make sure they have all their dorm supplies, textbooks, and the right meal plan for the upcoming academic year. However, an often overlooked but arguably more important item on the to do list should be the now 18-year old’s advance directives. Advance directives include Healthcare Power of …
When you are planning your estate, you might hear that your Will has to go through probate and that you should avoid the probate process. Not only do people have stories of experiencing a drawn-out legal process or of someone taking advantage of the system, but these unfortunate experiences are all occurring following the death of a loved one. Despite probate’s unfortunate …
Estate Planning for Digital Assets This article looks at the risks of not having a digital estate plan and how to go about making one or meet with an Estate Planning or Will Attorney. Making a will is one of the most effective ways of preparing for the future and giving loved ones greater peace of mind. However, when making a …
Marital assets are fairly easy to divide during Tennessee divorce negotiations. However, your spouse’s retirement accounts are not as straightforward. With the possibilities of taxes and penalties, other problems will be looming if things are not done just right. According to Fidelis Law, Divorce Lawyer in Brentwood TN, one tool often used in these situations is a Qualified Domestic Relations …
