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...
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Estate Planning
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...
Don’t let your estate plan become outdated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...
Are holographic wills still legal in Tennessee?
A will is one of the most basic estate planning documents that all individuals need to draft. Unlike some states, Tennessee law recognizes handwritten, or holographic, wills that were written by the individual (testator), even with unwitnessed signatures. But to get...
3 things to consider when choosing an executor
Someone will need to handle the distribution of your estate when you die. If you name them yourself, they’ll be known as the executor. If you don’t name anyone, then a court will appoint someone who’ll be known as the administrator. Making the choice yourself is...
4 professionals to include on your estate planning team
Estate planning is not a do-it-yourself (DIY) project. Even though hundreds of templates exist online to help people draft documents on their own, it's beneficial to have a professional team. Estate planning documents can be delicate. Thus, you need to be adequately...
Tips for bringing up estate planning with your parents
It’s natural for people to be curious about whether or not their parents have done any estate planning. You may find yourself wondering what you’re going to inherit, for example. But you may also be curious about what plans they have made for their medical future or...