McKoon, Williams, Atchley & Stulce, 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 & Stulce, 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 & Stulce, 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 & Stulce, 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.
Some companies work with new staff members without knowing that bankruptcy impends. Some companies hide this information from management, workers as well as agencies. As a result, there are hundreds and more individuals each year that go through businesses closing their doors as well as the workers being laid off because of an absence of job. Occasionally, those working for the firm are unable to acquire their salary. If the individual was hired recently through an agency, he or she may still be guaranteed a paycheck. However, direct hires could not be paid if there are no funds available.
When an employee will be dismissed as a result of the bankruptcy of the business, it is very important for him or her to know as well as understand which type of bankruptcy is being filed. This might identify if employees are to be paid, if any advantages could still be obtained and also if various other actions need to be taken. A Chapter 7 is a liquidation where all properties are sold promptly for cash to settle financial debts and other concerns. A Chapter 11 is to rearrange the business and common procedures typically are retained along with a lot of employees. The excess debts, operation costs and similar items are paid off and afterwards it is reorganized.
Type of Bankruptcy
The type of bankruptcy that the employer files is essential to determining if the business will move on after the first adjustments or whether the entire company will be liquidated. With a Chapter 7, the owner or partners of business may have incurred so many debts that the only way to manage the problem is to sell off everything including the firing of all workers. This likewise suggests that established relationships may be severed if the owner is unable to recover by creating a newer however smaller company. All clients would be cut off from the service or product, and new employees may be rejected payment if there are not assets to move funds to their accounts.
When it comes to a Chapter 11 bankruptcy, this means that the business might get through the problem. This is typically just a reorganization or a restructuring of the business to eliminate as many ruptures of income and profits as possible. If an entire department is not making any kind of development or can not improve the financial situation, it may be cut with all people losing their jobs. This may also imply that the newest employees are let go, yet this might rely on other factors. Most of the excess debts are handled with reorganization along with reduced operating and transactional costs. It would be wise for any company in such situation to work together with a professional attorney who is experienced both in bankruptcy, business and employment law. At Mckoon, Williams, Atchley & Stulce, PLLC, we have attorneys working together in different practice areas. This way, a business owner will not need to look for several separate attorneys. It's much more practical to handle the case to one law firm which will understand all the aspects of your business.
What To Expect?
When the employee is affected by bankruptcy through a Chapter 7 filing, he or she becomes unemployed. If there is no money to pay to workers, it is almost impossible to seek payment unless the owner opens a new firm after bankruptcy has been completed. It is important to look for the guidance and options offered by a business lawyer versed in bankruptcy cases. Attorneys from Mckoon, Williams, Atchley & Stulce, PLLC understand what this means and also if there are any kind of choices open up to the staff member for sensible payment. Wage staff members as well as others that have pensions or retirement plans in effect already are given a higher priority for payment.
Depending on the bankruptcy chapter, the worker may have different rights. Nevertheless, there are certain regulations that oblige the company to offer up to 60 days' notice of impending layoffs. Sadly, there are exceptions to this. Under Chapter 11, wages may still be available for those who remain at work and keep up with their daily responsibilities. In other case, there may be some time prior to any funds are received if it is possible. It might be needed to get in touch with a legal representative to identify exactly what to do next, and also if the company is attempting to escape paying those who money is owed to, litigation could be needed.
This may upset many divorcing couples, but the truth is that there is no standard or precise answer which would fit every situation. Neither is there such thing as a 'standard division' of assets in Chattanooga such as the family house. It always depends on the particular situation of the marriage or civil partnership, and only an experienced Chattanooga family law attorney can help you with that.
Obviously, it is much better to come to an agreement (such as a division agreement) between you and your spouse about the splitting of assets, but when it's impossible this is where court intervention is supposed to make a fair decision.
What Aspects Court Considers
When a court makes a decision on who get the house in a Tennessee divorce, it typically takes into consideration the following aspects:
- Whether you have children under 18 in the marriage, their needs and interests, as well as whom they live with
- The age of each spouse
- The duration of the marriage
- The value of properties, both before, throughout and also after the marital relationship-- this could also consist of pension plans
- The potential income of each spouse and their obligations during the marital relationship (such as child-rearing) in the future
- What each spouse contributed to the marital relationship in terms of financial resources and assets (and also may contribute in the future towards the household's welfare)
- The standard of living throughout the marital relationship
- Disability if any party has it
- The unfavorable conduct of a spouse (although this is rare)
- The general needs of each party.
Pay attention, that the first aspect in this list is children. You need to understand that the court will always seek to meet the interests of your children first, and only then the requirements of both parties. If the split of the house is inevitable, you still may have some choices on what to do. Here are some of them.
Buy out your partner's half of the house
This is a good option as long as you have money in hand or are able to receive a new mortgage. The amount of money you pay doesn't have to be exactly half the worth of your residence. You can give up other marital property worth about as much as the selling spouse’s share. This could be a share of marital investments or retirement accounts.
2. Sell the house and divide the money
You could release yourself from your ex-partner and also your home if you sell as well as split the money. You will not owe federal tax on your post-divorce residence sale profit if you comply with the following requirements:
- Your profit doesn't exceed the amount of $250,000 (declaring alone).
- The house was your main place of residence for two of the past five years.
- You have not utilized the home-sale profit exclusion in the past two years.
3. Keep the house until your children move out
When kids are involved, often one parent will stay in the house together with them the other parent moves out during the divorce.
When the kids are grown up and moved out, the ex-spouses sell the home and split the profit. If you're the one that haven't lived in the family house in two of the previous five years, you could owe taxes on the profit from the house sale.
4. Keep the house and take turns living there
It's very rare when a family chooses to keep several houses, but this may happen especially in a high net divorce. The children stay in the original house and also the parents take turns living with them and also staying in their own residences after the divorce. If you split the expenses, you 'd each deduct the expenses you paid, such as mortgage interest and also property taxes.
Bear in mind that you can only deduct mortgage interest for a house you possess and from a mortgage you're obligated to pay.
Tennessee family law may be complicated and the correctness of the decision varies from case to case. To make it clear to you who will get the house in your divorce you should get in touch with a Chattanooga divorce attorney.
McKoon, Williams, Atchley & Stulce, PLLC offers a wide range of services to make sure your children are protected and you get what you deserve.
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The law obliges all types of businesses and companies to conclude an agreement with their employees to secure both sides. Employment agreements also ensures that certain guidelines and rules remain in place, and the business also could impose limitations on employment that could cause fines for certain behavior. Meanwhile, the business should follow both state and labor laws as well as federal wage and labor standards.
Protecting the intellectual property and confidential information within the company is essential for its operating. It is possible to enforce limitations that are practical and also ideal for the sort of information that employees will have to deal with during the working process. By developing as well as applying limiting contracts, the employer could offer a base of valid yet legit and secure activity both in and out the working space. This is possible through specific methods and legal responsibilities in agreements with workers such as the nondisclosure agreement, non-compete contract and various confidentially forms. It is also necessary that the proprietor has a lawyer to ensure such documents are enforceable in a law court. So, which restrictions are legal in employment agreements?
This is one of the most typical restrictions that can be found in almost any employment agreement. Confidentiality restrictions are designed to protect the company from an employee disclosing its information to third parties by allowing the employer to claim for injunctive and financial damages. Considering the last incident occurred to Elon Musk and his Tesla, Inc., where disgruntled employee hacked the system and stole confidential information, it is no small thing. It could additionally limit the use of confidential information by the worker while employed. The type of data that could be restricted is practically unlimited.
Employment contracts can consist of constraints on termination. These restrictions could supersede any state law that presumes "at-will" employment. At-will employment suggests that either the employer or staff member may end the employment for any type of reason (or no reason) except for provided for by legislations securing workers from discrimination and various other illegal practices. Employment agreement could have "for cause" constraints that don't necessarily imply misbehavior but can consist of "continued incapacity to perform" or a few other given reason. If the term "cause" is not specified in the contract, the courts will need to determine what exactly the parties implied by the term.
In some situations, an employer will seek ways to protect the company from staff members taking customers or trade secrets should they leave. Because of the market being over-flooded, it is essential to stand out of the crowd of your competitors. To accomplish this, the employer puts non-compete restrictions in the employment agreement. However, numerous states have actually recognized such limitations invalid. For example, in Tennessee non-compete agreements or restrictive covenants are not always enforceable and are generally not favored by the courts. To determine whether such restriction is legal, courts review the possible risks the employer could face without it and the economic hardship imposed on the employee by the agreement.
The other types of restrictions may concern relationships with colleagues or the employer. For example, under the non-disparagement clauses, employee is prevented from saying negative or disparaging things about the employer. To avoid any interference into the relationships between the employer and customers or vendors, non-interference restrictions may be included in the employment agreement. Non-solicitation restrictions protect against the worker approaching other workers for the purpose of getting them to leave the firm.
Legal Assistance in Employment Agreements
Whether you are an employee or employer, you should remember that the main purpose of employment agreements is to maintain confidence in the both parties interests during employment. It is strongly recommended to search for legal assistance while signing or concluding such type of agreements.
If the former or existing worker encounters unnecessary hardship for agreements as well as restrictive agreements, they could need to work with an attorney to seek a situation against the employer. The Chattanooga employment law attorneys of McKoon, Williams, Atchley & Stulce, PLLC, will work hard to shield the client from negative impact on the business or industry and seek a positive outcome. Contact us today!