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Posts tagged "Heirs & Beneficiaries"

A few ways you might be able to contest a will

If you're not happy with the way you were treated in your loved one's will, don't feel guilty or bad. It could be that the will was not legally valid. It could be that the will was not what your loved one actually wanted. It could be that you have a viable will contest claim to make that would allow you to receive your just inheritance.

Does Tennessee law support the creation of a pet trust?

According to Tennessee trust laws, animal lovers can use a trust to pay for the care of their animals after they have passed away. These so-called "pet trusts" terminate when the animal dies, or -- in cases where the trust offers care to more than one animal -- the trust terminates when the last surviving animal dies. These trusts, however, may not last longer than 90 years.

Probate is not necessary: Here's some tips for avoiding it

Every asset left to a relative by way of a will needs to go through probate proceedings. This means that your relatives will have to weight to receive their inheritances. It also means that your relatives will be subject to time-consuming and often stressful legal proceedings.

Prince's estate wins battle to prevent the release of music

Prince fans and those interested in estate planning law have been paying close attention to the difficulties experienced by the heirs of the late pop musician. There have been numerous battles between people who claim to have the right to inherit part of Prince's estate and also between various business people who claim to have a right to part of Prince's estate. The fact that Prince died without finalizing a will or estate plan has made the navigation of his estate and the probate process exceedingly complicated.

Worried about your pet parrot? A pet trust can help

Pet trusts have become more and more popular as Tennessee estate planners wish to leave financial assets behind to care for their beloved animals. In most states, however, a pet trust will only remain valid for 21 years after the death of the pet owner. Some pets could live much longer than 21 years, though -- like birds and turtles. Fortunately, Tennessee pet trust law accounts for the possibility of a pet with this kind of longevity.

Situations when you need to change your will

A will is not a "static" document. At different points in your life, you'll need to change or update your will, perhaps depending on the number of children and grandchildren you have, your marital status or other changing life circumstances that could affect both your estate and the people who will inherit your estate.

Should I keep my inheritance details a secret?

A recent survey conducted by the Institute for Private Investors and the Wilmington Trust discovered that approximately 67 percent of individuals are afraid to share information about their estate plans with heirs. Many of these individuals say that they don't want to disempower or demotivate their heirs.

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