Procrastination is one of the biggest hurdles we all face in getting our estate planning done. Most Tennesseans know they need a will and other coordinated documents in place. We intend to get to it at some point, but feel too busy, or lack the pressing motivation, to contact an attorney…
A Revocable Living Trust is a common and popular tool of estate planning. As opposed to trusts that are created in a will and take effect after a person’s death, a living trust is created by a person (called the Grantor) during their life. The trust can own any of their assets; it…
I often hear from clients serious concerns about what to do with their home in their estate plan. Often at the top of their list is the desire to preserve a residence for one or more of their adult children. In Tennessee, if you leave your home in your will to…
June 15 was World Elder Abuse and Awareness Day, a yearly recognition begun in 2006 to call attention to the growing problem of fraud, abuse, neglect, and exploitation directed at elders. An estimated 5 million older Americans every year are victims, according to the Department of Health and Human Service’s…
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…
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…
Preparation is the main ingredient in the recipe for success in life. Whether it is packing for a vacation, planning a schedule, or even studying notes before a big presentation, preparation is critical in so many areas. Similarly, it is important to be prepared in estate planning. There are a…