Nashville Estate Administration Law Blog

If you've considered drafting a trust as a part of your estate plan, you probably have some specific trust benefits in mind. Indeed, while trusts might not be for everyone, from an estate planning perspective, these highly flexible documents offer their creators -- and their beneficiaries -- some distinct advantages over a traditional will.

Here are three advantages of a trust you might want to consider:

• Trusts are private: Did you know that your will is a public document? Once the probate process begins after your death, anyone can look up the details of your will and anyone can determine who is getting what with regard to your estate. Trusts, however, are different. These are private documents and the assets inside them are kept confidential, as well as the people who benefit from those assets.
• Trust assets skip the probate process: Since your trust is technically a separate legal entity, the assets you place inside the trust become the property of the trust, and they're not yours anymore. This means that they're not a part of your estate and won't be subject to the probate process. The assets inside the trust will be managed by the trustee in accordance with the way you drafted the trust, and the beneficiaries of the trust will be the ones who immediately benefit from those assets (without the need for probate).
• Trusts give you more control of the way you distribute your assets: Imagine you have an alcoholic son, and you don't want him to receive $4 million immediately after you die. Rather, you'd prefer that your son receives $2,000 monthly from the trust until he dies, and then you'd like the remainder of the trust to go to a special charity. This kind of creative asset distribution plan -- and so many others -- are available to trust creators.

Actor Alan Thicke unexpectedly passed away from a ruptured aorta in December 2016. Although the actor took the time to build an estate plan intended to provide for his wife and sons, the Thicke family has since fallen into a disagreement regarding the dispensation of the late actor's estate. According to Thicke's widow, Tayna Callau, her stepsons, Robin and Brennan, have been hiding details with regard to her estate dispensation -- which she has yet to receive approximately a year and a half after her husband's death.

As a result of the disagreement, Callau has filed court papers that claim her stepsons have withheld her rightful inheritance. The court documents also claim that her stepsons are charging her expenses and taxes.

If you're creating a basic estate plan, the most important document you'll need to execute is your last will and testament. Your will establishes guidelines for the dispensation of your estate assets and achieves other important things.

Here are a few things you might want to know about wills:

If you're not happy with the way you were treated in your loved one's will, don't feel guilty or bad. It could be that the will was not legally valid. It could be that the will was not what your loved one actually wanted. It could be that you have a viable will contest claim to make that would allow you to receive your just inheritance.

Here are a few common reasons for a will to be invalid: