There is a lot riding on your small business. You have invested your money, time, and sweat equity to build a company that will be successful for years to come.

Even if you make all the right business moves, unexpected costs can arise at any time. Accidents, natural disasters, data breaches, and other unexpected occurrences are an ever-present risk to business owners. Small business insurance provides additional protection for your enterprise and could be the difference between a bump in the road and a door-closing catastrophe.

Achieving business wellness in 2023 can go a long way toward improving your overall physical health. Financial health and personal health are strongly connected. The healthier you are in one of these areas, the more likely you are to be healthier in the other. And, like physical wellness, financial wellness requires investment for the long term.

In short, no. But that doesn’t mean a person has to go through the full probate process in order to inherit real property in Tennessee.

If someone dies and the only thing they own is real estate and some personal possessions, meaning they have no bank accounts, stocks or bonds, retirement accounts, or other similar assets, a beneficiary can claim title to the real estate in a very simple proceeding versus a full probate process.

LLC is an acronym for a business entity otherwise known as a Limited Liability Company, and the acronym PLLC is short for Professional Limited Liability Company. Both of these entity types are creatures of state law, originally created by the legislature of the state of Wyoming and now available in all 50 states. The people who are owners of these types of entities are called “Members”.

Many people rightly worry about what happens if they have to go into a nursing home and they don’t have long-term care insurance. They’ve heard stories about people who had to spend down their entire nest egg before they could qualify for any government benefits. The stories are true, and it happens all the time, but it’s not your only option.

Federal Estate Tax is owed on a person’s gross estate over and above the exempted amount. I remember back in the day, in the early 2000s, when that limit was only $675.000. Over the years it has gone up, and then in 2010 or so, it jumped up quite a bit and then again in 2018. In 2022, it stands at $12.06 per person or $24.12 for a married couple.