Recent reports indicate that musical mega-star Prince may have passed away without a will or other estate planning in place. If that is true – a very big IF – his inaction will likely cost his estate millions of dollars in federal and state tax bills. In addition, contentious lawsuits…
Do you store pictures online? Have a Facebook account? Keep documents in the Cloud? Or use online accounts to maintain certain aspects of your life? If so, you should be aware that earlier this month Tennessee Governor Bill Haslam signed into law a bill that could impact what happens to…
Country music legend Glen Campbell is engaged in a very public struggle with Alzheimer’s disease, a common form of dementia. Campbell announced his diagnosis in 2011 before embarking on a farewell tour with his family, which was documented in the feature film, “Glen Campbell: I’ll Be Me.” The film depicts…
This is a common question from estate planning clients. Once a year, you should make a point of thinking through your family and life circumstances with an eye toward your estate planning goals and priorities. Major life changes involving you or your family often create the need to revisit your…
If you are a resident of Tennessee, the amount of state tax your estate will owe, as of January 1, 2016 is: zero. Tennessee’s inheritance tax (known in most states as an “estate tax”) phased out permanently at the start of 2016, which means for anyone who passed away on…
No one wants to think about leaving their loved ones behind when they pass away. However, making sure that you have a will that details all your wishes about how you want things handled after you are gone will help you make sure that your loved one are cared for…
No one wants to think about leaving their loved ones behind when they pass away. However, making sure that you have a will that details all your wishes about how you want things handled after you are gone will help you make sure that your loved one are cared for…
Estate planning can be a difficult and confusing process. This process can be made even more complicated when you have a business or foundation that your family members may be involved in. This appears to be the case with Paul Newman’s family. The Newman’s Own company and foundation started in…
Many people may believe that they do not have to be worried about federal estate tax if they do not make a large amount of money, but if you have a substantial amount of life insurance, own a home or have a good retirement account or plan, there are some…
This is a difficult question to answer for many people. Often, it is because people do not know the difference between the two or what is involved in each. It is important to choose the one that is best for your needs so that your loved ones and family members…