How the elderly can protect their rights

More than 1.5 million American adults are under the care of guardians, who have broad jurisdiction to make financial and medical decisions on behalf of their wards. For the most part, guardians act responsibly. They are family members or professionals who, out of a sense of duty, care for individuals who are too vulnerable or ill to care for themselves. …

What’s the best way to divide retirement assets in divorce?

Tennessee is an equitable distribution state. What this means is that, when couples divorce, their assets will be divided in a manner that is fair—if not, strictly speaking, equal. When it comes to retirement assets, however, matters can quickly become confusing. Spouses must be attentive. Retirement holdings are not automatically included in divorce proceedings. As such, some individuals find themselves …

Business owners: what you should know about trade secrets

If you operate a small business, then you know how crucial it is to set your company apart from competitors. Considering how much time and energy you put into distinguishing your business from the others through your marketing choices, products offerings and services, it is vital that you protect them. These are all examples of trade secrets, and as a …

When should you update your will?

Updating your will is a critical part of the estate planning process. Step one is to have a Last Will & Testament. But once you have one, keeping it up to date is vital to ensuring that your assets and property go to the people, beneficiaries, loved ones, and organizations that you want them to got to. There are a …

When should I make changes to my estate plan?

Making the time to address your estate planning needs can be very difficult. There are typically many other things a person would rather do instead of creating a will or talking about powers of attorney. However, once you do take the time to address your estate planning needs, you can feel relieved and confident in the future. Having said that, …

The smart way to save for a child’s education

College education is expensive. This isn’t news. In Tennessee, the average cost for in-state tuition is nearly $15,000 a year. That number will increase—sharply—if your child chooses to attend a private school, or pursue studies out-of-state. Most parents and grandparents understand that paying for a child’s education requires a great deal of planning. Starting to save early is crucial. But …

What can happen when nonprofits are noncompliant?

Starting and running a nonprofit organization is a considerable challenge. Between raising money, securing the necessary exemptions and maximizing your charitable contributions and services, there is a lot that organizers and board members need to consider. Unfortunately, no matter how well intentioned you may be, you could run into some serious issues and ultimately lose tax exemption if you do …

How an attorney can help you form your business

If you are looking to start a business, you may be most concerned with developing the product or service you plan to offer and setting yourself apart from the competition. You also must consider what type of business you want in the first place. Before you decide on anything, it would be a good idea to talk to an attorney …

What to consider if you want to leave unequal inheritances

Every parent knows that it can be a struggle to maintain fairness when it comes to giving gifts to their kids. Feelings of unfairness can be upsetting for kids of any age, including adult children, and it can make estate planning particularly challenging for parents who want to leave their children inheritances that are not monetarily equal. If you are …

Do churches or the courts decide when disputes arise?

Churches today share some similarities with non-religious organizations in how they are run. For instance, church operators need to think about tax-exempt status, employment requirements, insurance and property ownership just as any other business operator would. Despite some similarities, though, churches are not the same as non-religious organizations. This can make it difficult to understand how to resolve disputes that …