Central Tennessee Estate Planning Blog
What mistakes should you avoid when discussing estate planning with your parents?
You may be surprised to hear it, but many Americans do not have an estate plan. If you worry that your parents may be in this crowd, you may want to have a conversation with them. Before you embark on the talk, however, Business Insider warns that there are mistakes...
When should you update your will?
A will is an essential estate planning document that outlines how to distribute your assets after your death. It also lets you designate guardianship for any minor children you have. Although having a will is important, a survey performed by Caring.com discovered that...
What is an asset protection trust?
When putting together your estate plan, one of your biggest concerns may pertain to wealth preservation. Though you may have done everything right in your life when it comes to saving, paying off your debts and honoring your financial commitments, there is still the...
How can you make it easier to discuss your estate plan?
As you know, matters of estate planning do not end once you have created the estate plan. You must continually update and maintain it throughout the years. After all, an estate plan must reflect your most recent life circumstances. You should also consider discussing...
Should you agree to be executor of an estate?
Many people think it is an honor to serve as the executor of a family member's estate, but if someone has asked you to fulfill this duty, take time to think it over before accepting. The role includes many responsibilities, and you will need to take care of them...
What are some reasons for transferring assets before death?
Estate planning law provides you with a number of options when it comes to how and when to share your assets with your loved ones. Shifts in relationships and changing estate tax laws may cause you to consider transferring your assets while still alive. Giving gifts...
Choose the trust type based on the level of control you need
Are you giving thought to setting up a trust? Are you wondering about the differences between a revocable and an irrevocable trust? Each has advantages but your decision will probably rest on the level of control you want or need. Advantages of the revocable trust...
Reasons for you to move or make a trust in Tennessee
Whether you live in Tullahoma or out of state, Tennessee is joining the ranks as a prime place to establish a trust. As Wealth Advisor describes, Tennessee offers greater flexibility than many states, and is now a top three state for asset protection to some...
What are your options for business succession?
Tennessee business owners like you have a lot on your plate when it comes to deciding how to pass your business down. After all, a time will come when someone else must step up and take the wheel. How you want this to happen will shape a lot of the business ownership...
What happens in probate?
Probate is a process that is often misunderstood. Even if you know a little about it, you may not really know what it entails or what to expect to happen during the process. According to FindLaw, probate is a court process where the court ensures your estate undergoes...
