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We want to thank everyone who came out to celebrate with us for our 5 year Anniversary bash! We also want to thank each and every one of you who have supported us along the way, worked with us and been a part of our success. We look forward to serving you for many more years to come. We had a great evening surrounded by friends, family and business partners. We were honored to hear from Jodi McCullah of SAFE (Soldiers And Families Embraced), JT Cooper and Opal Justice for sharing their message with us and the stories of those servicemen who fought for our nation. We were entertained by Charles “Wigg” Walker and the Wigg Band. We had fun at the photo booth provided by Out of the Box and refreshments from Acme Feed & Seed. It was a fun evening of conversation, celebration and a lawyer or two showing off some dance moves.
Our theme for the evening was “Thankfulness” and we enjoyed reading the notes you left on our wall. We were inspired to read all that you were appreciative of this past year. It was great to hear such positive messages and to focus on our many blessings. It is easy to get caught up in the small stresses of our busy lives and it is always a positive thing to step back and realize all we have to be thankful for.
We have a lot of things coming up in the New Year. We just released our new website and our blog. Keep any eye on this as we hope to bring you all a wealth of helpful information that we hope will be truly useful to you. We are also in process of building out our second location in Mt. Juliet and hope to announce its official opening early in 2015. We have great aspirations for next year and once again thank you for your continued support; we couldn’t do it without you!
Here are a few photos from the night. To see the full gallery of pictures Click Here.
I recently spent some time in Florida. Amidst the beautiful, blue skies, I also learned about a lot of Florida laws. Although I am not licensed in Florida and I cannot give legal advice on Florida law, I can say that I was amazed that the differences between Tennessee and Florida. Being from the Sunshine State, I travel frequently between Nashville and Florida. Until this trip, I had never thought about how I am stepping into an entirely different set of laws by which I must abide when my plane crosses the Tennessee border. However, the truth is, no two states are alike in their laws. Don’t misunderstand me, of course there are many similarities, but state laws also vary greatly.
So, were you born in Tennessee or did you move here during your adult life? For many Tennesseans, especially those in Nashville and surrounding areas, the answer would be the latter option. Middle Tennessee has experienced incredible growth during the past couple of decades. Considering that growth, I ask those who fall in that second category, have you had all of your legal documents reviewed since moving to Tennessee?
It is for this reason that it is important to have any legal documents re-evaluated when you move. Maybe all of your documents will be in line with Tennessee law, but if they are not, you need to know. Bring in those old Wills, Trusts, business documents, or whatever else might be hiding in your filing cabinet, and we will gladly take a look. We would love the opportunity to then advise you on what steps are necessary, if any, to bring those documents in line with Tennessee law.
To learn more about how we can assist you in Contract Law or if you have any questions about this or any other legal matters Call Us 615.444.2345 or Contact Us Here
Technology and the internet have streamlined so many “official” processes that used to require hardcopy forms, the antiquated postage stamp, and worst of all- actual trips to and long waits inside government buildings. This is true for the creation of a limited liability company (“LLC”) in Tennessee. Thanks to an intuitive and easily navigable interface, the Tennessee Secretary of State’s website will allow you to create your own LLC (or Corporation or Partnership) with basic information and a credit card in less than 15 minutes’ time. The process is incredibly, perhaps deceptively, simple.
This is by no means a criticism of the online formation process; the website displays the requisite legal notices and makes the process more accurate and efficient. However, the ease with which an LLC can be created may also downplay the responsibilities of running the entity to new or prospective “Members” (LLC owners). It is not uncommon that we receive calls from Members seeking an explanation of the “administrative dissolution” of their company. Many assume that unless the LLC is conducting certain business or making money, there is nothing that needs to be done. Unfortunately, this is not the case.
Generally, there are two main culprits of administrative dissolution in these circumstances. The first is the annual report. Every LLC must file an annual report and pay an annual fee. These are usually due April 1 for the previous calendar year. The annual report is simple, and is predominantly concerned with any changes to the membership (ownership), registered agent, or address of the LLC. The annual fee is calculated in the same manner as the initial formation payment ($50/Member, with a $300 minimum and a $3,000 maximum). The report and payment can both be submitted online.
The second culprit is the Franchise and Excise Tax, which is imposed on nearly every registered entity in Tennessee, save for a select group which may qualify for an exemption. Franchise and Excise Tax is based on net worth as of the close of the year, but a minimum $100 payment is due annually, regardless of the LLC’s worth (or lack thereof). In order to pay this tax, the LLC must first register with the Tennessee Department of Revenue. This can also be done online, but the process is notably trickier than LLC formation.
The government websites referenced above both offer great resources and downloadable guides for anyone willing or interested in getting more information. The problem seems to be that some DIY LLC owners are unaware of additional requirements until after it is too late. Considering that forming an LLC is equivalent to creating a “person” in the eyes of the law, it only seems fitting that there should be some upkeep involved. Consulting a business attorney about LLC formation is the best route (unsurprising, coming from a business attorney), but to anyone looking to create an LLC, educating yourself on the requirements at the start can save a great deal of time, hassle, and money down the road.
I recently saw this post on Facebook and I wanted to share it. This is something as attorneys we see too often and I thought it a worthwhile reminder…
“I cannot stress enough, how important it is to have the conversation with your family about your final wishes. Have a will in place, organize your financial documents for your loved ones, write down simple wishes such as items to be given to specific members of the family or just details of your funeral wishes. As times, situations change, keep these documents updated. It’s such an extremely stressful time for everyone and even more so when some of these items are left unsaid. It’s very hard to take emotions out of the situation when there are so many emotional details to attend to after someone’s passing. This has been the hardest past two weeks of my life; last night and today just topped it off… but I’m sure there are more to come. I’ll get through them one step at a time.
Please, I beg you; friends and family – have that difficult conversation. You and your loved ones will be grateful that you did”
We are all procrastinators to some degree. Some of us may put small matters off for a few extra days, like grocery shopping or mowing the lawn, while others go by the old saying, why do today what I can put off till next year. This is fun to joke about; however, when it comes to the legal consequences of procrastination, it can be devastating.
In our law firm we see so many lives changed forever by someone’s procrastination. We hear on a daily basis, “if dad, mom, a spouse, or a business partner, etc., would not have put this off then we would not be in this horrible predicament. It is so true in almost any area of the law. People love to put off making a Last Will and Testament, signing a Power of Attorney, having important business documents drafted, or pursuing a case where someone has legally wronged them.
Legal procrastination can cause family members unbelievable amounts of additional stress and expense in a very challenging time of their lives. It is not uncommon to see people inadvertently left out of an inheritance or see families fighting after a loved one’s death that could have been avoided if it were not for the procrastination of the deceased. Also, we see people forced to get conservatorships and guardianships in the court room – something that may have been avoided by the more timely hiring of an attorney. Almost daily, we see what would be valid legal claims that are barred by the statute of limitations because the individual did not seek an attorney in time. When it comes to washing your car or getting a haircut, please feel free to procrastinate, but for important legal matters please contact an attorney today and take the appropriate legal steps to Secure Your Peace of Mind and protect your family.
Keep in mind…this service can also be taken advantage of by real estate agents, lenders, and other vendors who are all valuable parts of the closing process.
We look forward to securing your peace of mind in new ways!
