Let’s get this out of the way: estate planning is not for the rich and famous. In fact, pretty much everyone has some form of an estate. Your estate refers to everything you own: Your home, your car, life’s savings, retirement accounts and personal possessions....
Personalized Attention For Your Family’s Probate & Estate Needs
Year: 2021
1 estate administration mistake could cost the executor money
Agreeing to serve as the executor of someone's estate comes with a lot of responsibility. You will have to manage everything from securing the property to hearings in probate court. Not only do you have to settle the decedent's accounts, but you also have to hand out...
What happens when someone dies without a will?
Wills allow people to determine the distribution of their property upon their death. However, some individuals pass away before they have the opportunity to create one. When this happens, the court distributes the deceased’s assets according to the law. Tennessee’s...
What are your responsibilities as a power of attorney agent?
Many Tennessee residents take the important and wise step of appointing power of attorney agents as part of their estate plan. Hopefully, if a loved one appointed you to this role, you and the person were able to discuss what this would entail. If not, you do not have...
Are wills public records in Tennessee?
Maybe you’ve always been a private person -- maybe not. One thing is for certain, however: All the privacy you have pretty much goes out the window once you pass away, and your will gets filed with the local probate court. At that point, your will is a matter of...
Here’s why some digital assets can’t go into your estate plan
=When doing your estate planning, you may want to add some of your digital assets. Maybe you have built up collections of movies, video games, music and books. These are all in digital format, but you think of it the same way as hard copies. You paid a lot for all of...
Where should you store your estate plan?
You’ve done the responsible thing and drawn up an estate plan -- but now you aren’t sure what to do with the documents. You have a few options. It’s always good to store a digital copy online and have a paper copy where it can easily be found. If you put it somewhere...
Estate taxes and your assets in Tennessee
There are a lot of compelling reasons to try to avoid probate -- not the least of which is tax abatement. Nobody wants to think that a chunk of their hard-earned assets will end up in the government’s coffers. Well, there’s some good news in that regard if you happen...
A trust can protect your estate from creditor claims when you die
When you die, an entire lifetime of assets will pass through probate to the people that you love. Your estate plan probably leaves clear instructions about who should inherit which assets. You likely want to leave meaningful and valuable items to your spouse, your...
Is it time to handle financial affairs for a deceased parent?
After a parent passes away, the surviving loved ones may have a challenging road ahead. Adult children may deeply feel the grief of their parent’s passing, and while addressing their emotions is important, at least one of them will likely have to handle matters...