Nashville Estate Administration Law Blog

A will is a vital document in any estate plan. Without it, no one can know your intentions and what you'd like to see happen with your assets. Without a will, your potential beneficiaries and heirs may fight over your estate, and they will likely have to go through probate, which is a long, drawn-out legal process.

There are many stories of families that have been ruined or trapped in long feuds over their deceased loved one's estate. From siblings fighting over the family home to close relations arguing over assets that they believe should go to them, it can be a real mess.

Inheritances can be a wonderful support for those who receive them, but investors may struggle to decide how much to leave their beneficiaries and when they should give it to them. If you have been investing for some time, the idea of giving away your assets might be difficult in and of itself. However, if you plan correctly, this can be a good move for your beneficiaries.

If you plan to leave money to your children, there are a few factors to consider. These include:

• The relationship your child has with your family
• The type of trust or trusts you want to set up for them
• How you'd like to communicate your plans to your family

Inheritances are one of the few things that can be positive about a loved one's death. Out of all the sadness and loss, they've left you something behind that you can cherish or use to your own benefit.

Inheritances are important to beneficiaries for a number of reasons, and benefactors leave them to individuals for a variety of reasons. For example, your grandmother might leave you a small trust fund to go toward a college education, or a parent might leave you property that you can live in or sell.

One question lots of people have is how to know if they're the heir of an estate. Sometimes, family members or friends may make people beneficiaries without letting them know. Heirs are not the same as beneficiaries, though.

Heirs will always be blood relatives. So, if your mom or dad passes away, you'll automatically be an heir to their estate. There are laws that dictate which heirs will inherit any property left after taxes and debts are paid, so there is no guarantee that every potential heir will receive an asset from the estate.