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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 →

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In: Divorce, Domestic Relations, domestic relations attorneys, Family Law Attorneys, Tennessee divorce attorney

Calculating Tennessee Child Support Shared Income Income Model of Child Support Tennessee Child Support is calculated based upon the Child Support Guidelines which are written by the Tennessee Department of Human Services.  Tennessee child support is now a shared income model, which means that the income of both parents is used in the calculation. A few terms: Primary Residential Parent – this is the parent with whom the child or children spend the majority of time during the year;  Alternate Residential Parent –   the parent with whom the child spends the least time. In a typical divorce the Primary Residential Parent has the child aboutRead More →

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In: Divorce, Domestic Relations, domestic relations attorneys, Family Law Attorneys, Tennessee divorce attorney

Can child support be waived in Tennessee? Tennessee Child Support Guidelines are Strictly Enforced People often ask: Can we agree to no child support? or Can it be waived? Of course nothing in this post can replace the advice of an attorney. (review) But, generally speaking, child support can not be waived, by agreement or otherwise.  In Tennessee as well as other states child support is determined by law.  The Tennessee Child Support Guidelines must be followed by the Court.  The Court is given the ability to deviate (or vary) from the guidelines.  But,  this is rarely done.  Certainly not to the extent of “waiving”Read More →