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Law FAQ: What is an estimated tax payment, and who is required to make them? What is an estimated tax payment? Estimated tax payment is the method used to pay tax on income that is not subject to withholding. Functionally-speaking, you can view estimated tax payments as a substitute for employer...
Read More Continue ReadingLaw FAQ: Questions About Revocable Living Trusts What is a revocable living trust? A revocable living trust is a legal document that, just like a will, contains your instructions for what you want to happen to your assets when you die. But, unlike a will, a living trust can avoid...
Read More Continue ReadingSmoke Detectors in Apartments Let’s talk about the law on smoke detectors in apartments and rental homes in Tennessee. What should a landlord do? What about a tenant? Do you have a case? Below are questions some of you might have: Q: I own and lease a rental house in...
Read More Continue ReadingProbate Process: How long does it take? How long does the probate process take? I often pose this question at seminars and get a variety of answers. Two of my favorite answers are “years” and “forever.” While neither answer is correct, it typically indicates that someone in the room (or...
Read More Continue ReadingLaw FAQ: Doesn’t joint ownership avoid probate? Not really. Using joint ownership usually just postpones probate. With most jointly owned assets, when one owner dies, full ownership does transfer to the surviving owner without probate. But if that owner dies without adding a new joint owner, or if both owners...
Read More Continue ReadingLaw FAQ: NFL & NBA Labor Issues – what is a “CBA” and a lockout? And why would players want to decertify their own union? What is a Collective Bargaining Agreement? The NFL and the NBA players belong to unions which negotiate with owners to establish, among other things, player...
Read More Continue ReadingLaw FAQ: What is Probate and why is it bad? What is Probate and why is it bad? (a.k.a. Why simply having a will might not be enough.) Probate is the legal process through which the court sees that, when you die, your debts are paid and your assets are distributed...
Read More Continue ReadingLaw FAQ: I run a small landscape business. Do I need a contractor’s license? In Tennessee, The Board for Licensing Contractors enacts and enforces administrative rules pertaining to the licensing of various contractors operating within the state. Typically most of us think of a contractor as being someone who builds...
Read More Continue ReadingLaw FAQ: My mom’s will leaves everything equally to me and my sister. Why am I not getting anything? A person’s will only applies to assets or accounts that are in the person’s sole name or are payable to the person’s estate. Typically, we are dealing with assets in someone’s...
Read More Continue ReadingLaw FAQ: Will my insurance premium go up if I get hit by a uninsured driver and have no choice but to submit a claim on my own UM coverage? I explained in a recent blog post about how Uninsured/Underinsured (UM) insurance coverage works, and how your UM coverage basically...
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