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August 2015 Archives

Why college kids need a power of attorney

As parents, many of us are accustomed to taking care of all of the needs that our children have, from the time that they are infants. When kids begin to transition into adulthood, it can be difficult for Tennessee parents to let go of those duties. We want to continue looking after their needs, and assume that we will be there to care for them if a serious medical condition should arise. While this assumption is a normal extension of the parenting role, it is important to understand that directing the course of a child's medical care is not a guarantee unless a properly drafted power of attorney document is in place.

How to choose the right executor for your will

Creating a well-crafted and comprehensive will is an important step within the estate planning process. However, it is not the only requirement to ensure that a Tennessee resident's assets are properly distributed upon his or her death. In order to have the instructions laid out within a will followed, it is necessary to select the right executor.

New ruling changes estate planning for same-sex couples

Many Tennessee residents are aware of the recent Supreme Court ruling that legitimizes same-sex marriage. The outcome of that case is viewed as a win for gay couples across the nation and will lead to a number of changes for those who enter into a same-sex marriage. Among those changes are improvements in estate planning rights, which can have a positive impact for many families.

Charitable giving can play a role within estate planning

Many Tennessee residents are interested in ways to reduce their taxable estate and preserve wealth to pass down to their intended heirs. Often, leaving money to charity is an excellent way to meet those goals. In addition to the tax benefits of such contributions, charitable donations can also leave behind a legacy of care toward others, which is an estate planning approach that can influence loved ones for generations to come.

Simple estate planning tips for Tennessee pet owners

When considering the best way to structure one's estate plan, most Tennessee residents focus on passing assets down to their intended heirs while incurring the lowest tax ramifications possible. While this is a great way to approach the estate planning process, many families would also benefit by considering the day-to-day needs that will follow the loss of a loved one. One of those needs involves determining who will care for the pets that are left behind.

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