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Law 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...
Read More Continue ReadingLaw FAQ: Why would I want a revocable living trust? Contrary to what you’ve probably heard, a will may not be the best plan for you and your family. That’s primarily because a will does not avoid probate when you die. A will MUST be validated by the probate court...
Read More Continue ReadingLaw FAQ: What are the duties of landlords under Tennessee law? A frequent question that clients ask is what obligations does their landlord owe to them. Tennessee has adopted an act referred to as URLTA (“Uniform Residential Landlord Tenant Act”) that is limited to certain counties in Tennessee, including Davidson...
Read More Continue ReadingWhat is uninsured motorist coverage, and how much do I need? Under Tennessee law, a driver is required to maintain liability insurance to cover any damages that the driver might cause in a car wreck or related accident. That way, innocent victims are protected. Unfortunately, though, the minimum legal limit...
Read More Continue ReadingLaw Talk: A Conservation Easement Can Save You Thousands in Taxes In 2010, Congress extended the enhanced tax deduction for Conservation Easement Donations (“CEDs”), but only for a limited time. This provision is a real gem for anyone owning a piece of undeveloped land. But you must act quickly. CEDs...
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