What seemed futuristic in sci-fi movies and books only a few decades ago is nearing reality when it comes to certain technologies and advancements. While progress and advancements provide many benefits and positives to society, when it comes to Artificial Intelligence...
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Wills, Estates & Probate
How to avoid estate challenges based on lack of mental capacity
A lot of the focus in your estate planning will be centered on the distribution of your assets. While you might have an idea of how you want your distribution scheme to play out, things don’t always go according to plan. In fact, in some instances, disgruntled family...
When is it time to review and update your estate plan?
Most Tennessee residents will affirm that the estate planning process is not enjoyable. Not many want to think about their death and all the potential future events, most of them upsetting or tragic. This might be why some avoid the process until later in life....
Estate planning is for everyone
Our readers in Tennessee may know that they need an estate plan, but they may not know where to start. From complex asset management to so-called simple wills, estate planning is for everyone. Estate planning basics As a recent news article on this topic noted, estate...
Addressing tax issues during the estate administration process
You are probably familiar with the basic idea behind estate administration or probate that must be completed after someone passes away. The executor, or person in charge of administering the estate, collects the assets and distributes them to heirs. But one issue that...
Choosing an executor for your estate
Choosing an executor for your estate is an important step in the estate planning process. An executor is someone who oversees the management of your estate after you pass away. This generally involves making sure any remaining debts and taxes are paid and then...
Can my life insurance and payable on death accounts go into trust?
As a Tennessee resident with life insurance or payable on death accounts, concerns about their fate upon your passing may arise. Will they smoothly transition to beneficiaries, or could probate and creditors’ claims complicate matters? The option of utilizing a trust...
Starting the probate process and addressing will disputes
If your loved one passed away and had a will, it’s important to follow several steps in the probate process, but you may not know where to start. Probate process First, you will need to file the will with the probate court in the county where your deceased loved one...
Does Tennessee allow me to avoid probate?
As readers of this blog know, probate can be costly, time consuming and stressful for our surviving family. However, our state does allow you to avoid it in your estate plan. Living trusts One such way that Tennessee residents can avoid probate is through a living...
Why should I care about estate planning?
You have probably heard that you need to make an estate plan, but you may not understand why or even what the term “estate planning” means. Essentially, an estate plan is the plan for what happens if you become incapacitated and when you pass away. And, it only...