How do I set up a trust for my newborn?

As a new parent, you want to do everything in your power to provide a good future for your child. If you have an estate plan or in the process of estate planning, one thing you may look to do is set up a trust for your new baby. Often referred to as a trust fund, this type of planning is not …

Should estate plans change with new law?

Estate plans have to be altered and changed over the years to ensure they align with laws and your needs. Recently the estate tax laws were changed at the federal level. These changes may affect you if you are a high-income earner or have a large estate in Tennessee. Basically, this means it is time to review your estate plan …

Creating a well-written contract that provides value and benefits

For churches in Tennessee, the value and presence of written contracts is important to provide protection to the organization’s fundamental components. With clearly articulated guidelines in place, church facilities can operate with the confidence that their agreed-upon terms are being honored. Often, the challenging part for churches is figuring out which vital components of a contract must be considered. Others …

Suggestions for effectively managing a non-profit organization

While the idea of beginning a non-profit organization is appealing to many people, running a successful organization is an entirely different story. Non-profit organizations have unique laws they must abide by and certain characteristics that are important to recognize in order to successfully operate. When people are interested in creating a non-profit, they will benefit from having a basic education …

How can you be an ideal stepparent?

Getting out of an unhealthy relationship can be challenging and leave you wondering if your life will ever be quite the same. Then, you meet someone special and begin to enjoy a new, exciting and rewarding relationship. However, with this adventure comes a new set of challenges as your significant other has children of their own. Now, your mind begins …

Protecting finances and long-term security during a divorce

When people decide to get divorced in Tennessee, one of the major hurdles they will face is separating their finances, reassessing retirement accounts and benefits, and reestablishing financial independence. Individuals who take a proactive approach to getting their finances in order and modifying their spending habits to reflect their relationship changes, will most likely face a much more successful financial …

What should I do to prepare my small business for sale?

As a small business owner in Tennessee, there may come a time when you decide to sell your business. The process may seem as if it will be easy. You find a buyer, they pay you money and the business is sold. However, it is not that simple. There are actually numerous things you have to do to prepare for …

Keeping your nonprofit legal while raising money

Starting a nonprofit takes a lot of effort–you have to file with the IRS, create articles of incorporation, set up a board of directors, enact bylaws and deal with myriad other details. But say that’s all taken care of. You’re ready to start accepting donations now, right? On to the mission! Well, not quite. Charitable fundraising is governed by state …

How a new tax law could alter prenuptial agreement clauses

When young couples are preparing to wed in Tennessee, one of the last things they feel like addressing is a prenuptial agreement. However, this decision can be valuable in creating some agreements designed to protect both parties in the event of a divorce. Once an agreement is made and signed, it seems unlikely that the meaning could change over time, …

Suggestions for naming beneficiaries when planning an estate

A concise estate plan has exponentially more power than a hidden letter or a well-thought out plan inside of someone’s head. When people are considering whether or not to create a trust, write a will, coordinate long-term care or establish estate plans in Tennessee, the sooner they make the decision to follow through, they can reduce the stress and confusion …