Central Tennessee Estate Planning Blog
Is this a warning sign for undue influence?
Tennessee laws dictate how you write and observe an estate plan. By following the law, you can circumvent any potential issue you may have with the passing down of assets, money and so on. Or so things go when there is no interference. Unfortunately, there are some...
The function and benefit of a trust
People who carefully accumulate, organize and maintain financial assets most likely wish to have ongoing control over them throughout their life. Failure to adequately plan for unforeseen circumstances may inhibit a person's ability to have control over his or her...
What are the most common ways to transfer business ownership?
Tennessee business owners like you dedicate some estate planning time to your business. After all, you must plan what will happen to it after you let it go. This complex process includes figuring out how you want to transfer business ownership. You have many options...
3 ideas for discussing your estate plan with grown children
Estate planning offers you many options for preserving and distributing your assets according to your wishes. However, the success of your plan may depend on discussing the matter with your children beforehand. You may be understandably reluctant to have this...
Does Medicare cover long-term care?
Some aspects of estate planning may come into play while you are still alive. Since Americans are living longer than ever these days, careful financial planning for old age is important. A reality of old age is needing assistance with everyday living tasks like...
Estate planning is different for farmers and ranchers
While you may think the best way to protect your farmland is to keep working it, the truth is that proper estate planning will is the key to preserving your hard work. This is especially true since farmlands run the risk of conversion after you pass away due to...
How a special needs trust protects your disabled child
When your child has a disability, you may have different estate planning concerns than your colleagues or peers. You may need to figure out how to support your son or daughter once you are no longer around to provide care. You may also have concerns about whether the...
What are the best ways to avoid estate taxes?
In most cases, tax avoidance is illegal. However, when it comes to your estate, there are loopholes you can use to minimize the value of your estate and avoid taxes. If your estate is worth less than $11.4 million as of 2019, you need not worry about estate taxes at...
Do you need a business succession plan?
If you plan to preserve your family business for future generations, you need a strong succession plan. Strategizing about succession can stabilize your retirement income, guide the transition when the time comes and prepare the company to weather unexpected events....
Preventing conflict and the estate planning process
Those creating an estate plan have many different issues to take into consideration, from protecting their estate and minimizing taxes to figuring out which type of estate plan is best and deciding how to divide assets among beneficiaries. However, preventing conflict...
