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 …

How can I avoid family conflict with my estate plans?

There is nothing wrong with expecting your family to get along after your death. However, once you are gone, there is always the possibility of disputes and conflicts arising over your estate plans. According to PR Newswire, “conflict and family drama are the biggest threats to estate plans.” It is important for you to take steps to prevent potential disputes …

How are Tennessee parenting plans designed?

Creating a workable parenting plan is one of the most stressful aspects of divorce. Both you and the other parent love your children and want to maximize your time with them. It is hard to imagine that you might not be with them on holidays or have them living with you throughout the week. While both of you want to …

How to become certified as a Women-Owned Small Business (WOSB)

Female entrepreneurs face unique challenges compared to their male counterparts. If you’re a female business owner you’ve likely been hard at work to stay competitive in the male-dominated industry. One way that female entrepreneurs are able to stay competitive is by becoming certified as a WOSB. After receiving certification you can compete for social and economic opportunities to help your …

What advantages does a trademark provide for your business?

If you are in the beginning stages of starting your own company in Tennessee, chances are you have already begun researching what you can do to protect your intellectual property rights. Failure to take precautionary steps against copycats and thieves can significantly increase the risks of your product or service being replicated and registered by someone else. Fortunately, following the …

Starting a nonprofit: an overview

While any company in Tennessee may provide a beneficial product or service, the primary goal of the nonprofit is to benefit the public, not to make money for the owner and/or shareholders. These organizations often receive benefits such as tax exemption as they pursue their mission. There are numerous factors to consider in whether or not to incorporate the nonprofit, …

Easing your way into your role as a step-parent

If you have recently gotten into a relationship with someone who has children from a previous relationship, you may have already started to think about your role as a step-parent. Building an effective and trustworthy relationship with a child who is not your own by blood can be challenging and even discouraging at times. At Fidelis Law, PLLC, we have …