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WHY CHOOSE US

McKoon, Williams, Atchley & Stanley, PLLC offers a full array of legal services to meet the needs of businesses and individuals. Our attorneys represent diverse backgrounds, interests and legal emphasis, but we share one common goal – providing the highest quality legal services to our clients through the combination of our talents, experience, and expertise. In each case, we strive to tailor those services to meet each client’s specific circumstances.

The firm’s origins trace back to 1973 and it has continued to grow in its range of services and the diversity of its attorneys. A number of the firm’s attorneys previously practiced in larger law firms. As a result, McKoon, Williams, Atchley & Stanley, PLLC has a sophisticated corporate practice common to the larger law firms while maintaining the relationships and responsiveness of a small firm. Our clients include businesses, individuals, institutions, and local governments. Service and responsiveness are the key to McKoon, Williams, Atchley & Stanley, PLLC’s continuing growth and success,

The corporate services group provides advice in business planning, transactions, bond financing, taxation, real estate, healthcare reimbursement, labor and employment law compliance, environmental regulation, and other related areas. We also offer services in estate planning, and trust and estate administration and fiduciary law. Service and responsiveness are the key to McKoon, Williams, Atchley & Stanley, PLLC continuing growth and success.

The litigation group assists clients in resolving disputes and claims, whether by settlement, trial, appeal, or alternative dispute resolution, in state and federal courts, as well as before various governmental agencies. Our attorneys are experienced in many and diverse specialized areas of practice, from commercial litigation to family law, from environmental litigation to criminal defense, from trusts and estates to mergers and acquisitions, from financial to employment law, and from tax to creditor rights.

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LATEST NEWS & UPDATES

Legal Issues You Should Take Into Account When Getting Married

Are you considering getting married? Probably you just celebrated a marriage. Now begins is an amazing time of life when a couple gets to celebrate their love with their family as well as closest friends. However, this is also the period when you should take more responsibility and sometimes even say goodbye to your past. The legal side of your life doesn't stay untouched either. Here are some legal issues you should take into account when getting married.

Taxes


When filing income taxes, make certain that your name and also social security number exactly match  what gets on file at the Social Security Administration (SSA). If you changed your surname after getting married, you must report your name modification to the SSA. When dealing with a name adjustment for marriage, you also have to provide your employer with a new Form W-4.

Your filing status is a determinant when it concerns your tax liability, filing requirements, and also qualification for different tax deductions and credits. Remember that when you as well as your partner marry, your newly combined income could become another tax challenge for you.  When it involves Federal taxes, whenever you get married during the year, you are considered to be"married" for that entire tax year.

Bank Accounts


Very often couples wonder whether to merge their accounts or leave them separate. There's no 100% right answer, so think about your and your spouse's interests when making this important decision. What expenses will be paid by what accounts? It's important to review this issue with your partner prior to getting married to make sure everyone understands their obligations, especially financial ones.

Discuss Debts and Assets


Money is typically at the core of lots of marriage disputes. Prior to you get married, take the time to sit down and discuss how you will manage debt. Handling your partner's debt can both strengthen or weaken your relationships. With a combined income paying debt off could be easier and quicker. Nonetheless, taking on brand-new financial obligation could hurt your credit score and increase anxiety.

When talking about assets, it is essential to understand Tennessee legislation and have a consultation with Chattanooga family attorney. In our state, asset division is equitable, yet equitable is not the same as equal. Your monetary contribution does not determine the possessions to which you are qualified. If you and also your spouse ever divorce, numerous subjective elements come into play when dividing assets. If you own any property, valuable items or business, don't delay an accurate valuation.

Prenuptial Agreement


It is typical to think of prenuptial agreement when one or both parents bring business or individual assets into a marital relationship. Prenuptial agreements protect the property and also financial liberties of each partner in case of a divorce. Authorizing a prenuptial agreement is a very personal decision as well as is something that you need to be open about with your future spouse prior to you celebrate a marriage.

Wedding may be the happiest and most important day of your life, but don't forget that that you will be entering into a legal agreement with your spouse. If you get overwhelmed or confused about exactly what to do regarding these marriage-related problems, or wish to know even more about the laws in Tennessee, get in touch with a Chattanooga family law attorney. Our professionals from McKoon, Williams, Atchley & Stanley, PLLC are more than happy to provide you with legal information on common law marriage. There are many different important legal issues that you and your spouse to be must find answers for.

 

Succession Planning for your Business In Chattanooga

Let’s begin at the end: what would happen to your business if you were to pass away? Whether your business is a sole proprietorship, a partnership, a single-member LLC, or a multi-member LLC/multishareholder corporation, planning and preparing for the transition of
your business is critical to help your family, your employees, and/or your co-owners either to continue the business or wrap up the affairs of the business upon your death.

There is no “one size fits” all approach to transition planning due to the wide array of factors to consider, including business size, industry, individual goals, and family dynamics, to name a few. If you are a sole-owner (sole proprietor, single-member LLC or single-shareholder corporation/scorporation), your family or designated agent will not have authority to act on behalf of the business (access accounts, sell assets) unless you have done some preparation. Additionally, if yours is a family business where family members (commonly children) work with you, is there one or two children who may be more capable of running the business? Can the children get along if they are forced to run the business together? More importantly, do any of the children want to take over the business?

If you are part of a multi-owner business, you and your co-owners need to determine what will happen in the event of an owner’s death. For example, if your co-owner dies, do you want to be in business with her spouse or family? If your answer is no, then you should run, and not walk, to get some succession planning in place. The same cautions apply to a transition upon retirement. Waiting until the day before you retire will inevitably end badly. The moral of the story is make succession planning a priority, not an afterthought. And for those among you who are superstitious, take heed – talking about death will not in fact cause death.

Do I Need a Lawyer?


Many businesses have their own In-House General Counsel. This is a
great option for those businesses that have the volume of work and
can handle the substantial financial obligation. For most businesses,
even many larger businesses, this is simply neither necessary nor
practical. At McKoon, Williams, Atchley & Stanley, PLLC we seek to offer those same In-House General Counsel options through our Outside General Counsel services. As your Outside General Counsel, we not only take the time to learn about your business, we seek to gain a meaningful understanding of it.

Attorneys from McKoon, Williams, Atchley & Stanley, PLLC are prepared to respond to questions in a timely and knowledgeable way, whether it be to help you form a new business, review a contract or lease, prepare an employment agreement, pursue collections of accounts receivable, counsel you regarding employee disputes, or helping you think about succession planning.

We encourage you to call or email, no matter how small your matter or
question, just as though you had your own in-house counsel right
down the hall from your office. As part of our Outside General Counsel services, we can also ensure that if family or criminal law issues arise, we can point you to attorneys in our firm, as opposed to having to look for a new firm or attorney you don’t have a relationship with.

McKoon, Williams, Atchley & Stanley, PLLC offers the knowledge, skill, and experience needed to help clients navigate the legal complexities inherent in Chattanooga business law matters, large and small. If you are looking for a lawyer, schedule a consultation. (Please do not include any confidential information in your inquiry.)

Do I Need A Prenuptial Agreement?

When mentioning a prenuptial agreement, many individuals think only about the financial side of this contract. However, this type of agreement affects not only your money.

The reality is that prenuptial arrangements (which are called "premarital arrangements" in some jurisdictions) could likewise deal with other important matters, such as distributing the tasks between two spouses during the marriage, taking care of children from a previous relationship and keeping family heirlooms in the family. Sometimes these point can be much more important than just defining  assets division or spousal support after a divorce. Knowing the possibilities of a prenuptial agreement is an essential factor in your choice of whether or not to get one.

Right here are 4 main aspects why may need a prenuptial agreement.

 

1. You Want to Ensure Financial Safety For Both Parties

Obviously, a prenuptial agreement certainly brings a feeling of financial protection-- specifically in cases where one spouse has much higher earnings compared to the other. On the one hand, the wealthy partner wants to protect his/her property as well as limit the amount and also period of spousal support in case of separation. On the other hand, the partner that does not have so many assets wants a guarantee of economic safety or financial support if their marriage finishes. The end outcome ought to be a sensible arrangement that provides security to both parties according to their specific requirements.

2. Your Future Spouse Has Substantial Financial Debt

One spouse bringing a lot of debt into the marital relationship is a rather common situation nowadays. Sometimes, the other spouse doesn't even know about the financial debt of the other until they have actually got married. Don't be afraid to raise this topic before the marriage - everyone has the right to feel confident about their future, especially when it hugely depends on another person. Of course, if the marriage ends, the other partner does not want to inherit their ex-spouse's debt. A prenuptial agreement could limit the non-debtor spouse's responsibility and also prevent creditors from seeking marital property to pay off the debt.

3. You Want To Protect Your Assets

A prenuptial agreement can be used to get around the laws regulating asset division and spousal support in some states (ask Chattanooga family attorneys if this is the case in Tennessee). The contract could define exactly how specific marital and non-marital possessions will be allocated when it comes to divorce. An excellent prenup can likewise sustain your estate plan. From professional experience of McKoon, Williams, Atchley & Stanley, PLLC family lawyers,  asset distribution is much less challenging with a legitimate prenuptial agreement, so protect yourself and your assets from messed-up situations later on by signing one before marriage.

4.You Want to Protect Your Business

It's a natural desire for business owners and entrepreneurs to protect their business they've contributed so much into. Divorce can threaten it - both financially and because of interference from ex-spouse (and ex-spouse’s lawyer).  Without a prenup, the marital share of the business can be rather significant, and the non-owner spouse could end up with a considerable portion or even claim to it. This implies that business owner would be forced to buy out their ex-spouse's share (which could have an extreme impact on the business' capital) or put up with a potentially vindictive ex interfering in their business’ decision-making process. Developing and signing the detailed prenuptial agreement is vital for business owners; otherwise your business (especially if it's a small or middle one) can occur under the threat of closing because of conflict or misunderstanding between you and your ex.

These are simply four of the several factors for creating a prenuptial agreement (or a post-nuptial agreement if you're currently married). When the agreement is finished, you can feel confident that you have actually done your best to protect not only yourself, but also your spouse   in case of future divorce.

At McKoon, Williams, Atchley & Stanley, PLLC, you will find a Chattanooga family law attorney who will guide you through all of your legal options and answer any questions you may have about how various decisions could impact your future and the future of your family.  Don't hesitate to contact us to find the solution to your issue.

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