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February 2016 Archives

Reducing contention among surviving family members

A great deal of estate planning effort goes into determining which loved ones should inherit which assets and how those assets should be packaged in order to avoid excess taxation. In many cases, people focus exclusively on the big ticket items and forget to make a plan for their  personal belongings. Unfortunately, this can leave surviving Tennessee family members at each other's throats, an outcome that no one desires.

Strategies for avoiding Tennessee probate issues

The central focus of most estate planning efforts is to ensure that the assets that a family has accumulated over time will pass to the chosen heirs. In order to meet that goal, Tennessee residents must make every effort to create a clear and properly drafted estate plan that outlines those wishes. For some families, it is also important to take preventative measures that will ensure that assets get into the right hands, while avoiding the risk of probate issues.

Estate planning can shift after a serious illness or injury

Most Tennessee residents think about their estate plan in terms of how they can best hand down assets to the people they love. They envision those plans being brought to fruition after a long and happy life. In reality, however, no one knows how much time they have, and whether they will encounter a serious illness or injury as they age. When such an event takes place, estate planning needs will shift, and families must be willing to revisit the issue.

Tips for leaving an inheritance to a caregiver

Many Tennessee residents do not have close ties to their remaining family members and do not intend to include those individuals within their estate plan. In some cases, the person chosen to receive an inheritance is a caregiver. Many people deeply appreciate the care that they are given as they move through the late stages of life and want to reward that care once they have passed on. When including a caregiver in one's estate plan, however, there are a number of considerations that must be made.

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