Recently, a daughter reached out to me with questions about the necessity of probate now that her mother, a longtime Nashvillian, had passed away. During the conversation, the daughter shared she was not a resident of Tennessee but lived with her family in the Pacific Northwest. The topic of her serving as the potential estate’s fiduciary came up and she asked if it was even possible for her to serve as the estate’s fiduciary
Read MoreIf you own something, you have an estate. As part of Estate Planning Awareness Week, we've made a list of the top terms everyone should know and why they are so important. Take some time today to have a look—you'll be glad you did.
Read MoreYesterday, we discussed different considerations in how your primary residence can/should be owned. In light of this week being National Estate Planning Awareness Week, today we will look at some considerations related to how you should consider planning for any vacation homes or rental properties.
Read MoreDo you own your real estate the right way? We'll tell you what we mean in our latest blog all about the different types of real estate and how you should consider for the present and the future.
Read MoreMike Tyson once said “Everyone has a plan, until they get punched in the mouth.” It is a great quote with an incredibly deep meaning: how much can you endure in the face of adversity?
Read MoreThe potential financial impacts of COVID-19 reach beyond income and retirement accounts. A Financial Power of Attorney ensures your bills get paid and assets are managed according to your wishes even if you are temporarily incapacitated.
Read MoreWith thousands of Americans falling ill, and in some cases unable to communicate their medical wishes, now is the time to make sure you have appointed the proper medical agent. Learn what factors to consider when choosing your agent (hint: it may not be your spouse or eldest child).
Read MoreIn 2007, Tennessee entered into a small class of states which permit self-settled asset protection trusts. These trusts allow individuals to create irrevocable trusts over which they retained some level of control AND shield the assets which were transferred to the trust from creditors. Before the passage of the Act, this was not permitted in Tennessee
Read MoreLast week, we discussed how certain assets can bypass the probate process. I wanted to follow up on that post because bypassing probate by adding co-owners to accounts, or “payable on death” designations, can certainly accomplish that goal. However, doing so may expose your current assets, or a beneficiary’s inheritance, to certain outside forces that could wipe out those assets.
Read MoreBased on experience, “probate” can be a dirty word. Poor communication, seemingly burdensome court procedures, and domineering executors are but a few reasons why so many have such desire to avoid the process altogether.
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