One of the most important decisions to make when creating your estate plan is who will act as executor. The right person can help the process go well for all involved. The wrong one can create stress, delay and doubt about the legitimacy of the distribution of the...
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Estate Planning And Probate
4 reasons to update your estate plan
The biggest challenge in estate planning is getting around to making the first one. When you lead a busy life, there will always be matters that seem more pressing. Once you have created an estate plan, revisiting it and keeping it up to date is simple by comparison....
How could the 99.5% Act affect your estate plan?
Politicians have plans to raise taxes. Regardless of what you think about that, you need to be ready to take action. What is the 99.5% Act? The “For the 99.5% Act” is a proposal that aims to recover more taxes from the wealthiest 0.5% of people in the country. Hence...
When do I need a trust?
The coronavirus pandemic provided a lot of time to consider our own mortality. This may have provided some initiative to get our affairs in order. This decision likely led to a lot of questions for those of us who have decided to either put together an update an...
Why you should include all assets in your estate plan
When you spend time creating a will, you want to avoid putting it at risk. If someone contests your will, it can create unforeseen problems for your family. It can result in extra expense, delay in distribution of your estate and issues between family members. One...
What taxes does an estate executor have to worry about paying?
If you offer to serve as executor for your parents or if they need you as the administrator of their estate in their last will, you have a lot of responsibilities ahead of you. You will have to pay off all of their creditors, inventory their property and distribute...
Managing estate planning as a business owner
Tennessee business owners take every measure to see that their businesses profit and expand. In addition to making sure their companies continue to experience positive growth, business owners also need to have estate plans in place. Estate plans can help ensure that...
The challenge of passing on assets to children
Individuals just starting to think about estate planning in Tennessee may be wondering how to divide their assets among their children. When parents have more than one child, or children from prior marriages, it can be difficult to determine how to fairly split...
Some reasons why you need an estate plan
In Tennessee and around the country, many people think that estate planning is something that is reserved only for the wealthy. The truth is that estate planning is about much more than a way for people with significant assets to pass them down to the next generation....
Do assets pass to a beneficiary who dies during probate?
When a loved one passes away, surviving family members often want to get the final affairs managed as quickly as possible. Some may want to do this to ensure that their loved one's final wishes are followed, and others may be eager to receive their inheritances. Of...
