Second marriages present unique and often difficult estate planning issues. How do you balance providing your spouse but also taking care of your children? How do you title your assets when you are married? This blog delves into some of these issues and provides some potential solutions.
More and more people consider pets as part of their family. If you care about what happens to your pet in the event of your death, consider establishing animal trust in Tennessee, commonly known as a "pet trust".
What happens if a part of your will is faulty or is not properly executed? How big of a problem is it, even if the issue appears relatively minor? Well, there could be substantial issues. Discover the most common problems with wills in this blog.
From time to time, clients come to see us with handwritten wills that their mother or father prepared. These types of wills are called "holographic wills". While holographic wills are certainly legal, they can be problematic and are more difficult to validate than a more formal, typed last will and testament. Find out more about handwritten wills in this blog.
Benjamin Franklin is quoted as saying that "creditors have better memories than debtors". There is much truth in this statement. If your loved one owed money, there is a high likelihood those creditors will be calling when probate is opened. Check out how creditor claims are handled through Tennessee Courts.
If your spouse chooses to cut you out of their will, there are significant protections for you. Learn about your rights as the surviving spouse in this blog.
If you are considering creating a new LLC in Tennessee be aware that there are legal regulations on what you may name your LLC. The name must be clearly distinguishable from other business entities and not violate any other regulations that the the state has. Check out what these rules and regulations are in this blog.
It's true: Many people believe they do not need a last will and testament. Even more people believe they need to have a will, but they put it off for tomorrow. What if tomorrow doesn't come? Let's say you are in a tragic accident and you are killed instantly. If you die without a will, what happens to your assets?
If you have children, its likely that they are listed in your will as beneficiaries. However, in some unfortunate circumstances, a child may die before you do. What happens to that child’s inheritance? Does your child’s spouse inherit? Does it go to your grandchildren? Check out this blog to find out.
You have been told over and over again that you need estate planning to help your loved ones avoid probate in Tennessee. The reason always presented is a simple one: probate is costly. That may be true, but in what ways is the probate process costly? This blog outlines several reasons why you may want to avoid probate as much as possible to alleviate the burden for your beneficiaries.
The Internet is causing a shift in where we find, share, and store information as we adapt to the recent “all things digital” mindset. Much of the information stored online includes financial and personal information that could potentially impact your estate planning. If you store financial and...
Be careful when adding children to property or bank accounts. While you may have the best intentions in adding them, it can have substantial adverse consequences to your estate plan. Find out why.
If you are considering buying a business, take a second and familiarize yourself with the two primary ways to buy a business: Should you buy the business entity or the assets of the business?
If you are formulating an estate plan or considering a succession plan for your small business, it is important to have a team of talented professionals that can help advise you. Accountants are experts on tax and financial matters and can assist you and your estate planning attorney in formulating sound financial plans for these matters.
Knowing when a parent with dementia and Alzheimer's disease needs help can be difficult, especially when that parent has a dominant personality. No one knows this more than Buzz Aldrin and his family who recently concluded several suits among each other over control of Buzz's finances and businesses. Learn how to avoid this direct confrontation and deal with parents with failing mental health.
Dealing with the death of your mother or father is a difficult and stressful time, especially when their bills come due. Who pays for their debts? Are you personally responsible for them? What about the mortgage and car loan? Find out the answers in this blog.
Online legal service providers like LegalZoom and Rocket Lawyer are popular alternatives to traditional legal services. They are a cheaper and can produce certain documents immediately. While they can be of benefit in certain circumstances, for many people these companies end up costing the client more in the long run.