Estate Planning

Blended families have become increasingly common, as 40% of American families with children are blended. These family dynamics bring together spouses, children, stepchildren and sometimes grandchildren from previous relationships. For these families, estate planning...

A Tennessee estate plan can fail to meet your current needs if it is not reviewed on a regular basis. Many families face planning gaps that can create confusion later without timely evaluations. A periodic review helps confirm that your plan still reflects your goals...

A revocable living trust only works as intended when assets are properly transferred into it. Many Tennessee residents create a trust but fail to include some of their most important assets. This oversight can lead to probate and delays that the trust was designed to...

A revocable living trust is a powerful estate planning tool. It helps a person protect their resources and structure the legacy they intend to leave after they pass. The grantor who establishes a revocable living trust often serves as the initial trustee. They manage...

Parents of a minor child should name a guardian when they do their estate planning. This way, if they become incapacitated or die before the child becomes an adult, the guardian can take over parental responsibilities. A guardian has the legal authority to make...

Parents of adult children whom they plan to bequeath considerable assets are often concerned that those assets will only go to pay off their child’s debts. There are trusts available that can help shield assets from creditors. However, they don’t always guarantee that...

Drafting a valid will can give a testator peace of mind. They can feel confident about the care of their minor children and the distribution of their property after they die. The person drafting the will must be an adult who is of sound mind. They must make estate...

Your estate plan does not need to divide your assets equally. You are fully free to use unequal bequests if you believe that is the correct course of action. If you have two children, for example, it is up to you if you want to give them both 50% of your assets or if...

One of the most common mistakes people make with estate planning is failing to update the plan. People will create a plan when they are relatively young, being proactive about planning for their future. However, they will then neglect that plan for decades. When they...

In some cases, those who are developing an estate plan are worried about what would happen if they passed away relatively soon after putting that plan in place. Some of the beneficiaries that they have selected may still be children or teens. While they do want to...