The legal team at the Middle Tennessee law firm of Russ Cook & Associates in Brentwood routinely advises its valued and diverse clients of the broad-based benefits they can receive by executing tailored estate plans.
In fact, we note on our firm's website that, "An estate plan is essential for everyone, regardless of stage of life or economic status."
A company agreement focusing on “the functionality of internal affairs” is obviously a document of key importance for business principals.
That fact is underscored by the U.S. Small Business Administration. The SBA augments its above reference to that agreement with an online narrative underscoring why a carefully drafted operational agreement is vital for limited liability companies.
If you write and perform music, you have unique financial assets. If you are a full-time songwriter, you receive money from your songs' royalties. The copyrights you own for your songs ensure that you are paid for your music. When you plan your estate, you will want to know how to leave these rights to your children.
Estate planning can be a complex problem for anyone with high financial assets. But with songwriters, planning includes passing along the financial rights to their music. There are important factors to consider when planning how to pass your copyrights to your family.
It’s an often-posed query in the estate planning realm: wills or trusts?
Many individuals and families in Tennessee and elsewhere spend considerable time and effort contemplating the question. It is not an uncommonly held view to deem those two planning instruments as operating in completely separate and distinct spheres. Some people even view wills and trusts in an either-or fashion. That is, they believe that only one of them can logically feature in an estate plan.
A financial adviser recently writing an article for Forbes leads off with - and then quickly discards - the premise that trusts are relevant estate planning instruments only for families with bags of money.
Contributor Rob Clarfeld does note, of course, that trusts do routinely play a central role in safeguarding assets and promoting multigenerational wealth transfers. He stresses, though, that viewing them in that limited capacity undersells trusts' broad-based utility for planners with highly varied needs.
Experienced Tennessee business law attorneys routinely help commercial principals across the state create agreements that are critically important for their enterprises. The work that proven legal counsel does spans contract preparation, negotiation, review, periodic revision and, when necessary, enforcement.
You probably already know that an estate plan can help you plan what you want to happen after your death. However, many people do not realize that an estate plan also allows you to plan what you want to happen while you are alive.
Durable powers of attorney and living wills are specific tools that can help protect you and your assets if you ever become incapacitated. Understanding what each of these tools offers can help you make the most of your estate plan.
The Tennessee probate process governs asset administration following an individual's death. A common probate scenario spotlights court-directed oversight of the asset-transfer process from a decedent to beneficiaries specified in a will.
We note on our website at the established Middle Tennessee estate planning law firm of Russ Cook & Associates that probate is often a "straightforward" exercise that does not present undue challenges. The process will always take a bit of time and cost some money, but it is hardly a life-upending event in legions of cases.
A trust provides you with enhanced control and protection over your hard-earned assets. Notably, a trust can protect your assets from risks like divorce, creditors, federal estate taxes and more.
However, you must choose another to oversee and administer the assets within the trust. Choosing your trustee can be a complex decision. You must consider family dynamics, personal attributes, financial literacy and more. Forbes outlines several considerations for identifying a trustee:
We noted in a recent Russ Cook & Associates blog post two distinct business forms that often attract close attention from entrepreneurs and start-up principals in Tennessee and nationally.
Those are corporations and limited liability companies (LLCs), respectively. We stress in our July 1 blog entry that, because "ultimate business success or failure is often determined at company inception," it is imperative for owners to make the right entity selection for their enterprises.
Contact us today to schedule a consultation by sending us an email or by calling 615-200-9117.
We assist clients throughout the Nashville area.
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5141 Virginia Way
Suite 220
Brentwood,
TN
37027
Phone:
615-200-9117
Fax:
615-370-5938
Brentwood Law Office Map
Office Hours:
Monday: 8:00 AM – 4:30 PM
Tuesday: 8:00 AM – 4:30 PM
Wednesday: 8:00 AM – 4:30 PM
Thursday: 8:00 AM – 4:30 PM
Friday: 8:00 AM – 4:30 PM
Summer Hours Office:
8:00 AM - 1:00 PM on Fridays
May 24th Through August 30th
