Estate Planning Newsletter – August 2016 Edition

September 1st, 2016   •   Comments Off on Estate Planning Newsletter – August 2016 Edition   

TRUSTEES SHOULD KNOW THE PRINCIPLES OF DIVERSIFICATION UNDER THE UNIFORM PRUDENT INVESTOR ACT   Diversification in investing has been a watchword for all investors for a lengthy period of time.  Tennessee has specific statutory provisions dealing with diversification by trustees of a trust.  Specifically, the most pertinent provisions are set out in TCA Section 35-14-105 (a)… Read More

ERISA Lessons Learned from Tibble v. Edison

August 9th, 2016   •   Comments Off on ERISA Lessons Learned from Tibble v. Edison   

The Supreme Court gives sponsors of 401(k) plans a wake-up call. The Employee Retirement Income Security Act governs – as its name implies – retirement plans of your employees.  ERISA imposes a duty on fiduciaries to act in the best interest of the plan’s participants.  The term “fiduciary” under ERISA includes plan sponsors and decision… Read More

Estate Planning Newsletter – July 2016 Edition

August 9th, 2016   •   Comments Off on Estate Planning Newsletter – July 2016 Edition   

PRENUPTIAL AGREEMENT HELD INVALID BECAUSE OF LACK OF ADEQUATE DISCLOSURE   Frequently, I am asked about Prenuptial Agreements, I have clients that want to do them, or I am asked to review Prenuptial Agreements.   One of the critical requirements for a valid Prenuptial Agreement is that the parties make a full and fair disclosure of… Read More

Business Transaction Newsletter – July 2016 Edition

August 9th, 2016   •   Comments Off on Business Transaction Newsletter – July 2016 Edition   

WHEN IS A CONTRACT TOO VAGUE TO BE ENFORCEABLE?   In the case of Keltner v. Estate of Mary Lois Simpkins, the Court of Appeals found a contract was not enforceable because it was too vague.  In effect, the Court found that a future agreement to agree is not an enforceable contract.   The facts… Read More

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