In The News

Trace Blankenship and Rick Nickels Represent CNB Bancshares, Inc. in its Planned Acquisition of National Bank of Tennessee Announced Today

Longtime Bone McAllester Norton client CNB Bancshares, Inc., parent company of Citizens National Bank in Sevierville, Tenn., has announced the planned acquisition of National Bank of Tennessee.  Following completion of the transaction, Citizens National Bank is expected to have total assets of approximately $1 billion, and the banking offices of National Bank of Tennessee will be operated as branch offices of Citizens National Bank.

The acquisition is subject to customary closing conditions, including the receipt of all bank regulatory approvals, and is expected to close in the first half of 2016. In addition, it will involve a Chapter 11 bankruptcy filing of National Bank of Tennessee’s parent holding company, NBN Corporation. The NBN Corporation will require approval of the transaction under Section 363 of Chapter 11 of the U.S. Bankruptcy Code. National Bank of Tennessee was not included in NBN Corporation’s Chapter 11 petition, and the bank’s operations will not be affected by the parent company’s filing.

Trace Blankenship, member and general counsel of Bone McAllester Norton, is serving as lead counsel on this transaction. His practice is focused on mergers and acquisitions, securities/venture funding/private placements and company governance and board strategy.

Read the full announcement here.

 

Bone McAllester Norton PLLC is a full-service law firm with 39 attorneys and offices in Nashville, Sumner and Williamson counties, Tennessee. Our attorneys focus on 18 distinct practice areas, providing the wide range of legal services ordinarily required by established and growing businesses and entrepreneurs. Among our practices, we represent clients in business and capital formation, mergers and acquisitions, securities matters, commercial lending and creditors’ rights, commercial real estate and development, governmental regulatory matters, commercial litigation and dispute resolution, intellectual property strategy and enforcement, entertainment and environmental matters. Our client base reflects the firm’s deep understanding and coverage of today’s leading industry and business segments. For more information, visit www.bonelaw.com

“Best Lawyers” Accolades Given to Bone McAllester Norton Attorneys

List Includes 15 Attorneys Named The Best Lawyers in America© 2016

Nashville, Tenn.—(August 17, 2015) Nashville-based law firm Bone McAllester Norton PLLC announced today that it is celebrating honors from the 22nd Edition of The Best Lawyers in America©. Fifteen of its attorneys have been named to the 2016 list, and attorney Anne C. Martin has been chosen as “Lawyer of the Year” in Nashville for Employment Law – Management.

“We are so pleased that our peers recognized the work our attorneys do every day and the expertise they provide to their clients,” said Sam J. McAllester, vice chairman and member of Bone McAllester Norton. “Our entire firm is proud of each of the attorneys selected for the 2016 edition of Best Lawyers in America.

The Bonelaw attorneys listed in The Best Lawyers in America 2016 list are:

  • Trace Blankenship for the areas of Banking and Finance Law; Mergers and Acquisitions Law; and Non-Profit/Charities Law

  • Charles W. Bone for the area of Administrative/Regulatory Law

  • Charles Robert Bone for the areas of Administrative/Regulatory Law; Business Organizations (including LLCs and Partnerships); and Personal Injury Litigation—Plaintiffs

  • John P. Branham for the area of Personal Injury Litigation—Plaintiffs

  • William T. Cheek III for the areas of Food and Beverage Law and Non-Profit/Charities Law. Will is the only listed lawyer for Food and Beverage Law in Tennessee.

  • William J. Haynes III for the area of Employment Law—Individuals

  • Sharon O. Jacobs for the area of Environmental Law

  • Paul W. Kruse for the areas of Copyright Law and Trademark Law

  • Anne C. Martin for the areas of Employment Law—Individuals; Employment Law—Management; and Litigation—Labor and Employment

  • Sam J. McAllester III for the areas of Banking and Finance Law; Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law

  • Richard J. Nickels for Corporate Law

  • Jack F. Stringham II for the areas of Banking and Finance Law and Real Estate Law

  • Stephanie R. Taylor for Entertainment Law—Music

  • Edward M. Yarbrough for the areas of Criminal Defense: Non-White Collar; Criminal Defense: White-Collar; and DUI/DWI Defense

  • and Stephen J. Zralek for the area of Copyright Law.


The Best Lawyers in America list for 2016 includes attorneys covering all 50 states and the District of Columbia, and inclusion in this year’s publication is based on more than 4.3 million detailed, confidential evaluations of lawyers by other lawyers. Lawyers are not required or allowed to pay a fee to be listed; therefore inclusion in Best Lawyers is considered a singular honor. Since it was first published in 1983, Best Lawyers has become universally regarded as the definitive guide to legal excellence. Corporate Counsel magazine has called Best Lawyers “the most respected referral list of attorneys in practice.”

For more information on Bone McAllester Norton and its attorneys, visit http://bonelaw.com.

ABOUT BONE MCALLESTER NORTON PLLC

Bone McAllester Norton PLLC is a full-service law firm with 38 attorneys and offices in Nashville, Sumner and Williamson counties, Tennessee. Our attorneys focus on 18 distinct practice areas, providing the wide range of legal services ordinarily required by established and growing businesses and entrepreneurs. Among our practices, we represent clients in business and capital formation, mergers and acquisitions, securities matters, commercial lending and creditors’ rights, commercial real estate and development, governmental regulatory matters, commercial litigation and dispute resolution, intellectual property strategy and enforcement, entertainment and environmental matters. Our client base reflects the firm’s deep understanding and coverage of today’s leading industry and business segments. For more information, visit www.bonelaw.com.

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Estate Tax Proposed Changes for 2015 and Beyond

By Richard J. Nickels President Obama will deliver his State of the Union address today at 8 p.m. CT.  Given the weighty foreign and domestic issues confronting the Union, proposed changes to the estate tax will most likely not make it into the address.  A couple of changes that may occur soon are discussed below. For the last couple of years, there has been a welcome certainty in the federal estate, gift and generation skipping transfer tax law (collectively the “estate tax”).  That may soon change.  The General Explanations of the Administration’s Fiscal Year 2015 Revenue Proposals (colloquially called the “Green Book”) contains a number of recommended estate tax changes.  Most are intended to increase revenue. Below is a summary of two key estate tax proposals contained in the Green Book:

  •  • Applicable Exclusion Amount Reduction and Rate Increase – President Obama’s Administration proposes a decrease in the applicable exclusion amount and an increase in the highest marginal estate tax. The applicable exclusion amount is the amount that a person can give to children and grandchildren without paying estate tax.  The American Taxpayer Relief Act of 2012 fixed the amount at $5,000,000, indexed for inflation.  This year, the applicable exclusion amount is $5,430,000.  The highest marginal estate tax rate equals 40 percent.


As set forth in the Green Book, the Administration proposes a reduction in the applicable exclusion amount to $3,500,000 and an increase in the top tax rate to 45 percent.  Also, the applicable exclusion amount for lifetime gifts would be limited to $1,000,000.  There would be no indexing for inflation.  Portability would remain intact.  The changes would take effect in 2018.

  • Annual Exclusion Amount Cap – The Green Book contains a proposal ostensibly intended to simplify the rules surrounding annual exclusion gifts. In general, a person can give away $14,000 per year per donee and not incur estate tax.  These types of gifts are known as annual exclusion gifts.  A husband and wife can each give $14,000 to a done, or one spouse can give $28,000 to each donee if the other spouse consents to have the gift made by his or her spouse deemed to be given halfby each spouse.  This is known as a split-gift election.  Annual exclusion gifts do not consume any part of an individual’s applicable exclusion amount.  In order to qualify for annual exclusion treatment, the gift must be a gift of a present interest.  This means that the donee must have the right to the immediate use and enjoyment of the gifted property.  Transfers in trusts qualify as present interest gifts if the beneficiary has what is known as a “Crummey” power, which is essentially a right to withdraw the gifted property from the trust for a short period of time, typically 30 days.


The Obama Administration proposes to eliminate the present interest requirement for annual exclusion gifts.  Its elimination should simplify how trusts are drafted and administered.  However, as part of the proposal, the Administration also proposes a $50,000 cap on annual exclusion gifts.  Annual exclusion gifts in excess of $50,000 per year would be taxable.  The proposed change would effectively limit to 3 the number of donees that could receive the full $14,000 annual exclusion amount ($50,000/$14,000=3.57).  The changes would take effect for gifts made after the year of enactment.

BMN Client Brings First Tool Box by Woodcraft Store to Tennessee

Congratulations to Bone McAllester Norton clients Woodcraft 542 LLC and Sapp’s World of Wood LLC on the opening of the first ever Tool Box by Woodcraft store in the state. Company executives at the franchise chose Chattanooga, Tenn. as the first city to launch this smaller concept store to areas not served by the larger stores and looked to the Sapp family to own the store and spearhead its opening. The Sapps also own and operate Woodcraft of Nashville.  Woodcraft of Nashville is located at 209 South Royal Oaks Blvd. in Franklin.

As part of the Sapp family’s business succession planning, Bone McAllester Norton attorney Rick Nickels assisted in the transaction including the creation of Woodcraft 542 LLC.

Tool Box by Woodcraft is located at 5824 Brainerd Road in Chattanooga. Store hours are 10 a.m. to 6 p.m., Monday through Saturday.

 

 

 

 

 

Bone McAllester Norton PLLC is a full-service law firm with 39 attorneys and offices in Nashville and Sumner County, Tennessee. Our attorneys focus on 17 distinct practice areas, providing the wide range of legal services ordinarily required by established and growing businesses and entrepreneurs. Among our practices, we represent clients in business and capital formation, mergers and acquisitions, securities matters, commercial lending and creditors’ rights, commercial real estate and development, governmental regulatory matters, commercial litigation and dispute resolution, intellectual property strategy and enforcement, entertainment and environmental matters. Our client base reflects the firm’s deep understanding and coverage of today’s leading industry and business segments. For more information, visit www.bonelaw.com.

Heritage Financial Group Combines with Kemmons Wilson Insurance Group

Bone McAllester Norton attorneys Rick Nickels and Charles W. Bone recently represented Nashville-based Heritage Financial Group LLC in a merger-like transaction with Memphis-based Kemmons Wilson Insurance Group, expanding Heritage Financial Group’s employee benefits and insurance services across the country. Steve Botts continues as president of HFG, with all HFG personnel remaining. HFG’s main office will remain in the Nashville area with an additional office in Memphis. As the employee benefits marketplace has continued to change and evolve, the merger will provide a greater range of benefits and insurance offerings from the now-combined independent brokerage firm, Botts said.

Read more about the merger here.

 

Bone McAllester Norton PLLC is a full-service law firm with 38 attorneys and offices in Nashville and Sumner County, Tennessee. Our attorneys focus on 17 distinct practice areas, providing the wide range of legal services ordinarily required by established and growing businesses and entrepreneurs. Among our practices, we represent clients in business and capital formation, mergers and acquisitions, securities matters, commercial lending and creditors’ rights, commercial real estate and development, governmental regulatory matters, commercial litigation and dispute resolution, intellectual property strategy and enforcement, entertainment and environmental matters. Our client base reflects the firm’s deep understanding and coverage of today’s leading industry and business segments. For more information, visit www.bonelaw.com.

Bone McAllester Norton Expands Practice with Focus on UAS

News Release

Thursday – April 10, 2014

Law firm is the only Tennessee firm providing services in area of UAS


 

Nashville, TN — Bone McAllester Norton PLLC today announced an expansion of the Entrepreneurial and Emerging Business Law practice group to include legal services in the area of Unmanned Aerial Systems (UAS), commonly known as drones.

The law firm is the only one in Tennessee covering UAS and issues surrounding the use of drones. Bone McAllester Norton attorneys in the Entrepreneurial and Emerging Business Law practice group focus on company formation, capital strategies, trademark registrations, copyright protection, intellectual property, social media law, privacy issues and now the unique regulatory and legal issues impacting the commercial use, legal enforcement and privacy of this emerging technology in UAS.

James E. Mackler, veteran attorney and Bonelaw member, is the lead attorney focused on the increasingly complex system of state and federal laws regarding the commercial use of drones. Joining Mackler with a focus in the area of UAS are attorneys Richard J. Nickels. These attorneys have extensive experience in entrepreneurship, commercial law, aviation, protection of intellectual property, privacy concerns and regulatory compliance.

Many states, including Tennessee, have passed laws regulating the use of drones. The Federal Aviation Administration (FAA) is under a mandate to fully integrate them for commercial use.

“With the FAA’s injunction to integrate drones into commercial airspace and the designation of 16 test sites nationwide, the growing opportunities—and risks—associated with drones cannot be ignored,” Mackler said. “We have a strong group of attorneys with sophisticated experience that will be able to provide counsel to individuals and corporations wanting to leverage the power of UAS within existing business models or seeking to start a new venture within the UAS sphere.”

The firm’s first UAS-centered client is Farmspace Systems, LLC, created to help farmers obtain a high level of situation awareness of threats to their crops, much like that of military commanders who need to detect threats to their troops. Farmspace was founded by a team of military veterans, who, in previous careers, applied UAS technology on the battlefield.

For more information, visit Bonelaw.com.

ABOUT BONE MCALLESTER NORTON PLLC

Bone McAllester Norton PLLC is a full-service law firm with 37 attorneys and offices in Nashville and Sumner County, Tennessee. Our attorneys focus on 17 distinct practice areas, providing the wide range of legal services ordinarily required by established and growing businesses and entrepreneurs. Among our practices, we represent clients in business and capital formation, mergers and acquisitions, securities matters, commercial lending and creditors’ rights, commercial real estate and development, governmental regulatory matters, commercial litigation and dispute resolution, intellectual property strategy and enforcement, entertainment and environmental matters. Our client base reflects the firm’s deep understanding and coverage of today’s leading industry and business segments. For more information, call 615-238-6300 or visit bonelaw.com.

 

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Bone McAllester Norton Attorneys Represented Churchill Mortgage in Transformative Ownership Deal

Three Bone McAllester Norton attorneys, Trace Blankenship, Charles W. Bone and Rick Nickels, were honored to represent Churchill Mortgage Corporation in connection with its transformative employee stock ownership plan (ESOP) transaction announced this week. They worked closely with the company’s founder and CEO, Mike Hardwick, and its COO, Matt Clarke, for more than 18 months, exploring various transaction strategies with the ultimate result being the ESOP. Congratulations to Mike, Matt and the entire Churchill team!

Click here to read more.

 

Bone McAllester Norton PLLC is a full-service law firm with 37 attorneys and offices in Nashville and Sumner County, Tennessee. Our attorneys focus on 17 distinct practice areas, providing the wide range of legal services ordinarily required by established and growing businesses and entrepreneurs. Among our practices, we represent clients in business and capital formation, mergers and acquisitions, securities matters, commercial lending and creditors’ rights, commercial real estate and development, governmental regulatory matters, commercial litigation and dispute resolution, intellectual property strategy and enforcement, entertainment, environmental matters, criminal defense and government investigations and labor and employment. Our client base reflects the firm’s deep understanding and coverage of today’s leading industry and business segments. For more information, call 615-238-6300 or visit bonelaw.com.

Portability in Tennessee: Navigating the New Estate Planning Landscape with Rick Nickels

Bone McAllester Norton attorney Rick Nickels will present a webinar for M. Lee Smith Publishers on estate planning in the era since the American Taxpayer Relief Act of 2012. “Portability in Tennessee: Navigating the New Estate Planning Landscape” will take place from 2-3 p.m. on Thursday, Nov. 12, covering what the concept of “portability” means and how it works, how to take advantage of it and planning opportunities, plus limitations.

Portability and certainty as to the estate and gift tax credit amount mandate a fresh look at traditional planning, and participants will gain a greater knowledge of what they need to do.

 

 

Bone McAllester Norton PLLC is a full-service law firm with 36 attorneys and offices in Nashville and Sumner County, Tennessee. Our attorneys focus on 17 distinct practice areas, providing the wide range of legal services ordinarily required by established and growing businesses and entrepreneurs. Among our practices, we represent clients in business and capital formation, mergers and acquisitions, securities matters, commercial lending and creditors’ rights, commercial real estate and development, governmental regulatory matters, commercial litigation and dispute resolution, intellectual property strategy and enforcement, entertainment and environmental matters. Our client base reflects the firm’s deep understanding and coverage of today’s leading industry and business segments. For more information, visit www.bonelaw.com.

Rick Nickels Set as the Guest Speaker for the National Association of Insurance and Financial Advisors

Bone McAllester Norton attorney Richard J. Nickels will serve as the featured speaker at this month’s meeting of Nashville’s chapter of the National Association of Insurance and Financial Advisors (NAIFA). He will present “Wealth Transfer and Preservation: Helping Clients Identify Opportunities and Pitfalls in a New Era,” which addresses how the American Taxpayer Relief Act of 2012 affects estate planning, both from a tax and a non-tax perspective. Portability and certainty as to the estate and gift tax credit amount mandate a fresh look at traditional planning, and attendees will leave with a greater knowledge of what they need to do.

The meeting will take place from 11:30 a.m. to 1 p.m. on Friday, Oct. 18 at Jackson National in Franklin. For more information, click here.

 

Bone McAllester Norton PLLC is a full-service law firm with 36 attorneys and offices in Nashville and Sumner County, Tennessee. Our attorneys focus on 17 distinct practice areas, providing the wide range of legal services ordinarily required by established and growing businesses and entrepreneurs. Among our practices, we represent clients in business and capital formation, mergers and acquisitions, securities matters, commercial lending and creditors’ rights, commercial real estate and development, governmental regulatory matters, commercial litigation and dispute resolution, intellectual property strategy and enforcement, entertainment and environmental matters. Our client base reflects the firm’s deep understanding and coverage of today’s leading industry and business segments. For more information, visit www.bonelaw.com.

Rick Nickels Addresses Trust and Estate Planning with Financial Planners

Bone McAllester Norton attorney Richard J. Nickels presented information on trust and estate planning to a group of financial planners with Insight today. “Trust and Estate Planning Update: Advising Clients in the Post-ATRA World” addressed the changes in tax code and laws in estate planning that impact advisers and their clients. They come together twice a year to explore cutting edge planning and investment management strategies to help better their businesses.

Rick has more than 15 years of experience advising individuals, families and businesses on estate planning matters. Insight is a small group of fee-only financial planners from the South who own their own companies.

 

Bone McAllester Norton PLLC is a full-service law firm with 35 attorneys and offices in Nashville and Sumner County, Tennessee. Our attorneys focus on 17 distinct practice areas, providing the wide range of legal services ordinarily required by established and growing businesses and entrepreneurs. Among our practices, we represent clients in business and capital formation, mergers and acquisitions, securities matters, commercial lending and creditors’ rights, commercial real estate and development, governmental regulatory matters, commercial litigation and dispute resolution, intellectual property strategy and enforcement, entertainment and environmental matters. Our client base reflects the firm’s deep understanding and coverage of today’s leading industry and business segments. For more information, visit www.bonelaw.com.

BMN Healthcare Practice Group Presents Panel Discussion about Life Stages of Estate and Tax Planning

The Nashville Academy of Medicine, Bone McAllester Norton and Regions Bank presented a panel discussion about The Life Stages of Estate and Tax Planning: What You Need to Know Before the End of 2012 on Tuesday, October 16, 2012 at 6:00pm at the University Club of Nashville.

 
 

Rick Nickels Represents Seller in Employee Benefits Firm Transaction

By Randy McClain, The Tennessean

Willis of Tennessee, a unit of Willis Group Holdings, the global insurance broker, today announced the acquisition of Phillips-Diaz Benefits, Inc., a long-established specialist in the employee benefits market. Attorney Rick Nickels represented the seller in the transaction.

Terms of the transaction weren’t disclosed.

The company said the move is part of Willis’ strategy to expand its presence in the employee benefits arena in Tennessee. Willis has offices in Memphis, Nashville and Knoxville.

 

Rick Nickels to teach Estate Planning and Guardianship to NALS Members

Attorney Rick Nickels will spend a day with members of The National Association of Legal Secretaries (NALS) Nashville Chapter preparing them for the Professional Legal Secretary certification. This certification is received after passing a one-day examination which demonstrates not only dedication to professionalism but their acceptance of the challenge to be exceptional.

Rick will lend his legal expertise in the area of Estate Planning and Guardianship to prepare this group of legal secretaries for their exam in September.

Attorneys go over the Edge for Special Olympics of TN

Rick Nickels joins the firm, attorneys go over the edge, firm raises money for the Heart Association and we party with the IBMA.

Click here to read our September newsletter.

 

We Welcome Rick Nickels!

Rick's practice areas include corporate law, employment law, estate planning and probate. He is a member of the Nashville, Tennessee and American Bar Associations and the Middle Tennessee Estate Planning Council.




Rick graduated cum laude from Carthage College in Kenosha, Wisconsin in 1989. Before attending law school, he worked as a trust administrator for a trust company outside of Chicago, Illinois. In 1995 he graduated from Samford University, Cumberland School of Law in Birmingham, Alabama, where he received academic awards in the areas of Advanced Decedents’ Estates and Trusts and Property II.

Rick grew up in a Chicago suburb where he attended an all boys’ high school run by the Benedictine monks. At Carthage College, Rick played baseball and met his wife, Amy, a Nashville native.

Rick and Amy have three children, Matthew, Molly and Jack. They live near Radnor Lake and are frequent patrons of the “Purple Cow.” Rick has coached youth sports since graduating from college. He is active in church and community organizations, especially those associated with Brentwood Academy and St. Paul Christian Academy, where his children attend school. Rick serves on the Board of Hearing Solutions International, Inc. and West Nashville Sports League (WNSL).

In his free time Rick is a runner and treasures time in his yard with his family and their golden doodles, Libby and Georgia.

We Welcome Rick Nickels!

Rick's practice areas include corporate law, employment law, estate planning and probate. He is a member of the Nashville, Tennessee and American Bar Associations and the Middle Tennessee Estate Planning Council.



Rick graduated cum laude from Carthage College in Kenosha, Wisconsin in 1989. Before attending law school, he worked as a trust administrator for a trust company outside of Chicago, Illinois. In 1995 he graduated from Samford University, Cumberland School of Law in Birmingham, Alabama, where he received academic awards in the areas of Advanced Decedents’ Estates and Trusts and Property II.

Rick grew up in a Chicago suburb where he attended an all boys’ high school run by the Benedictine monks. At Carthage College, Rick played baseball and met his wife, Amy, a Nashville native.

Rick and Amy have three children, Matthew, Molly and Jack. They live near Radnor Lake and are frequent patrons of the “Purple Cow.” Rick has coached youth sports since graduating from college. He is active in church and community organizations, especially those associated with Brentwood Academy and St. Paul Christian Academy, where his children attend school. Rick serves on the Board of Hearing Solutions International, Inc. and West Nashville Sports League (WNSL).

In his free time Rick is a runner and treasures time in his yard with his family and their golden doodles, Libby and Georgia.

September 2011 Newsletter Features New Attorney, Rick Nickels, Over the Edge Event, American Heart Association's Annual Heart Walk, and Warrior Dash

Bone McAllister Norton is excited to welcome Rick Nickels to our team and is equally excited about the firm"s community involvement.  To read the rest of our newsletter, click .