Category Archives: Local News

New Tennessee Limited Partnership bill headed to Haslam’s desk

On May 9, the Tennessee House passed the Senate’s bill to add a new chapter to Title 61 of the Tennessee Code governing limited partnerships.  The bill as has passed both houses can be read here: SB0438. It is now headed to Governor Haslam’s desk for his signature.  Once signed by the Governor, the act will take effect January 1, 2018.

Stay Tuned.

Probate and Trust Bill Headed for Haslam’s Desk

Update: Read Public Chapter No. 290 here.

SA0426 which revises a number of areas of the Wills, Trusts and Probate statutes has cleared the Tennessee Senate and is headed to the Governor’s desk.  This bill updates law in the following areas:

Shelby County: Go Vote! (But PLEASE be informed!) Non-Partisan Election Information.

The election is on August 7th, but early voting in Shelby County began July 18 at the Election Commission, 157 Poplar.  Early voting continues through August 2.

The satellite early vote locations opened Monday, July 21.  Monday through Friday hours are 10:00 a.m. to 7:00 p.m.  Saturday hours are 10:00 a.m. to 4:00 p.m.  Click here to find a convenient early voting location.

Click on the link below to review a sample ballot:

Shelby County August 2014 Sample Ballot.

The ballot is lengthy.  Please vote, but please do not vote uninformed.

If you are wondering who to vote for in the judicial elections, the best source for the qualifications of judicial candidates is the Memphis Bar Association Judicial Qualification Poll which is an anonymous poll of local attorneys:

2014 Memphis Bar Association Judicial Qualification Poll.

Additional Election information:

Districting maps for Shelby county (county commission, state legislators, school board and etc.): http://www.shelbyvote.com/index.aspx?nid=83

Who is your US Representative? http://www.house.gov/representatives/find/

Stay Tuned.

Rob Malin

Chancellor Armstrong appointed to Court of Appeals

Governor Haslam has appointed Shelby County Chancellor Kenny W. Armstrong to the Tennessee Court of Appeals, Western Section.  Chancellor Armstrong will fill the vacancy created by Governor Haslam’s appointment of Justice Holly Kirby to the Tennessee Supreme Court.  Armstrong has served as Chancellor for Division III of the Shelby County Chancery Court since 2006.  Click here to read more.

Stay Tuned.

Rob Malin

Koch Brothers and Norquist Zero in on the Tennessee Hall Income Tax

TargetAccording to the Tennessean, a number of groups have set their sights on the repeal of Tennessee’s Hall Income Tax—even enlisting more than 90 legislators by having them sign pledges.  These groups include the Tennessee Chapter of Americans for Prosperity, Americans for Tax Reform and the Tax Foundation.

Whoa, wait—Tennessee income tax? That’s right, Tennessee does have an income tax.  The Hall income tax is a tax that Tennesseans pay on dividends and interest.

Although many legislators have signed on to repeal, unless and until Tennessee solves its revenue problem, it seems unlikely that the tax is going anywhere.  That being said, many professionals said the same thing about the Tennessee Gift and Inheritance Taxes.  The Tennessee Gift Tax was repealed in 2012 and the Tennessee Inheritance Tax has been gradually repealed through 2016.

Stay tuned.

Rob Malin

Thank you to Justin Carter, CPA of the Marston Group for bringing this to my attention.

Wrong Ruling in Lorenzen Wright Case? Appeals Court Rules that Lower Court had no Authority to Investigate Ex-Wife’s $1 Million Apparent Misappropriation

Update: According to the Commercial Appeal, a court is contemplating removing Sherra Wright as Trustee of the Insurance Proceeds Trust (the article does not relate which, but I expect that it is the Circuit Court).  Click here to read more.

In an opinion dated March 27, 2014, the Tennessee Court of Appeals ruled that a Probate Court Judge exceeded his authority when he appointed an attorney (known as a Guardian ad litem) to investigate how Sherra Wright spent the nearly $1 million dollars that she was in charge of for the benefit of Lorenzen Wright’s children.

This particular proceeding was the latest in a series of cases involving the children and their inheritance from their father, Lorenzen Wright.

In this proceeding, Sherra Wright (the mother of Lorenzen Wright’s children) and Herbert Wright (Lorenzen Wright’s father, and the grandfather of the children) fought Continue reading Wrong Ruling in Lorenzen Wright Case? Appeals Court Rules that Lower Court had no Authority to Investigate Ex-Wife’s $1 Million Apparent Misappropriation