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In: Contracts, Contracts and Lease Agreements, General Legal Issues

Quit Claim Deed What is it? Sometimes improperly referred to as a “Quick Claim Deed”, a Quit Claim Deed is a legal document that conveys or transfers a person’s legal interest in a parcel of real estate to someone else.  Unlike a Warranty Deed, a Quit Claim Deed does not guarantee that the Grantor (person conveying the property) has sole legal title to the property, nor does it warrant the title to be free from the claims or liens of others. The essence of a quit claim deed is that  the Grantor “quits” his/her/its claim to the property.  In other words, the Grantor declares thatRead More →

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In: Corporations, Estate Planning : Wills Trusts Estates

When starting a business one important issue to consider is how to pass the ownership of the business on to your heirs (spouse children, or others). One such way is to have a trust centered estate plan along with a corporation. You should seek the sound legal advice of an attorney experienced in starting a business and estate planning.Read More →

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In: Corporations

Should I incorporate my business? Whether or not you should incorporate your business is a question that should only be answered after consulting with an attorney, and perhaps even a Certified Public Accountant (CPA).  However, we will explore some of the advantages or benefits of forming a for profit corporation in Tennessee, and the basic types of for profit corporations. There are two (2) basic types of corporations: Standard for profit corporation called a “C-Corp” and a sub-chapter S corporation or S-Corp for short (smaller corporations). Is there much difference between a C-Corp and a S-Corp?  Yes.  The major difference is the way the twoRead More →

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In: Disclaimer Regarding Specialization, Estate Planning : Wills Trusts Estates

Wills and Trusts: Protecting your child’s inheritance. At Purple Law Firm in Chattanooga, Tennessee, our attorneys often encounter clients who have a child who is not in a good position to inherit money or property without “blowing” it.  Sometimes the child is involved in drugs, criminal activity, or just not responsible with financial matters. Other times the client is concerned about an issue with their child’s spouse, or what would happen to the inheritance in the event of a divorce. [weaver_show_if_mobile] Connect: (423) 899-0131| Email | Locate[/weaver_show_if_mobile] What instrument (legal document) offers the best solution to such a problem?  Is it a Last Will andRead More →