The idea of an estate tax might be uncomfortable for some people in Tennessee, but continuing changes to the current estate and gift tax exemption may come as good news. The Internal Revenue Service announced that it will increase the current exemption, which is a temporary measure established through recent tax cuts. This new information is important to take into account during estate planning.
Creating an estate plan is not a once-and-done type of deal. While routinely updating or at least reviewing an estate plan annually is a good idea, it may not be enough. When women in Tennessee go through significant life changes -- such as a divorce -- additional estate planning is essential.
Art, stamps, comic books and baseball cards are just a few things people like to collect. Some collections are worth millions, and some are worth very little. Regardless of the financial value, if you collect something, it probably has a large sentimental value.