Anyone writing a will likely knows the purpose of the document. A will establishes someone's wishes regarding asset distribution, charitable donations, and other activities after the testator passes away. However, not everyone understands Tennessee estate law...
Estate Planning
When do you need a trust deed?
The real estate market in Tennessee works by certain rules. Once you have gained knowledge of these rules, you can use them to your advantage. One of the most commonly misunderstood details of the process is known as a trust deed. This is a document that comes into...
3 important estate planning steps in Tennessee
Estate planning is something that everyone should do, regardless of their age or wealth. It is important to have a plan in place in case something happens to you and you are no longer able to make decisions for yourself. The question is, what goes into a good estate...
Pros and Cons of Life Estates in Tennessee
Tennessee residents have a lot of options for handling their estate plans. One lesser-known way to handle your estate plan is setting up a life estate. What is a life estate? A life estate is a real estate property where the owner lives until they pass. After their...
Bequest and Estate Planning in Tennessee
There are various ways you can pass down your properties to other people in Tennessee. One such way is bequeathing. If you have been pondering the best ways to hand over your assets to your loved ones, here's one method that can be useful to you. Bequests in estate...
Is there a difference between living and revocable trusts?
Anyone who has started the process of leaving their assets to beneficiaries faces a multitude of financial instruments available in Tennessee. Among those are revocable and living trusts. Here is what you need to know. What are trusts? Trusts are legal entities set up...
The benefits of planning out an estate
Estate planning is about accounting for your assets and then developing a succession plan for your estate. In Tennessee, your estate must be administered upon your death, so estate planning prepares your estate for the beneficiaries ready to receive it. Without the...
What probate is and why you should avoid it
The probate process in Tennessee can be a long, expensive and tiresome thing for families to go through. It's usually best to try to tailor your estate plan so that there is no need for probate after you're gone. What is probate? The probate court is a government...
The importance of knowing about powers of attorney
When planning your estate in Tennessee, it’s important that all of the details are clear and concise. You and your heirs should know everything about powers of attorney. This includes what they can be used for and knowing their limits. The more information you all...
Using an estate plan to prepare for incapacity
Powers of attorney and health care directives provide Tennessee residents with a way to prepare for the possibility of incapacity and name trusted individuals to make important decisions on their behalf. A comprehensive incapacity plan should address personal,...
