Managing an estate competently and keeping interested parties adequately informed can be complicated. Thus, if you are appointed an executor of an estate, you need to be prepared. Here is how you can do this: Before probate Before you assume your duties, you need to...
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Year: 2024
When a caregiver improperly influences a vulnerable person’s will
The probate process can be long and technical. The personal representative of a Tennessee state may have to attend court and send out legal notices to multiple parties, including creditors. There is often a lengthy wait between when someone dies and when it is...
Can you leave an inheritance at a later date?
One way to leave an inheritance to someone is to list it in your will. As soon as you pass away, your estate goes through probate. The estate executor should inventory the assets and then give those financial assets directly to the person that you named. But this can...
Tips for choosing an estate administrator
Estate administration is an important aspect of estate planning that requires careful consideration when choosing the right person to oversee the process. As you contemplate selecting an estate administrator, remember that this individual will be entrusted with...
Choosing a trustee for a special needs trust
When parents have an adult child with profound disabilities, they often seek to protect that child’s future as much as they can by pouring their estate into a special needs trust for that child’s benefit. Special needs trusts are specifically designed not to...
Can you plan your funeral now?
Different people can have very different opinions about what happens to someone when they die. For example, parents or children of the deceased may have a different opinion from the deceased’s new partner. You might wonder if you can preempt things by using your...
Mistakes to avoid when creating an estate plan
Creating an estate plan is an important step in ensuring that your assets are distributed according to your wishes after your passing. There are several common mistakes that individuals make when establishing and maintaining their estate plans. By being aware of these...
What are the duties and limits of a financial power of attorney?
A financial power of attorney (POA) in Tennessee is a legal document that grants an individual, often referred to as an agent, the authority to make financial decisions on behalf of another person, known as a principal. This arrangement can be beneficial when a...
Don’t let your estate plan become outdated
Part of the estate planning process is making regular updates during the testator’s life. This is often a forgotten part of estate planning that can lead to probate delays and challenges. Here’s what you should know about updating your estate plan: 5 reasons to...
What is digital estate planning?
Digital estate planning is an increasingly important process that involves organizing and making arrangements for the management and disposal of one's digital assets in the event of incapacitation or death. As more American adults interact with the world in a variety...