A person's will outlines what they want to happen with their assets when they pass away. This is often done in conjunction with trusts to ensure that things get to the correct beneficiary in a timely manner. Many people who are creating a will choose to discuss the terms of the plan with the heirs. Sometimes, there are changes that will be necessary due to changes in the person's wishes or changes in circumstances.
Putting together your estate plan is never easy. Naturally, one of the most difficult things in creating an estate plan is dolling out the inheritance to your beneficiaries.
Putting together your estate plan is one of the most important things you will ever do. An estate plan can consist of a will, power of attorney, medical directive and many other items that protect you, your spouse and your heirs should you become incapacitated and when you die. Let's discuss the mistakes you need to avoid when choosing your beneficiaries.
Your last will and testament is probably the most important estate planning document you will create. Therefore, you will want to ensure that the will you draft and sign is both lawful and appropriate given your situation. Here are a few basic considerations that every Tennessee testator should keep in mind when creating such a document:
Challenging a will isn't easy; in the vast majority of cases, decedent and his or her attorneys will have appropriately drafted and executed the will. However, if the right circumstances exist, it's certainly is possible to successfully challenge a will on legal grounds.