The difference between a power of attorney and an executor is literally life and death. Check out this article to learn a bit more about the difference between these two important roles.
What happens when a member of an LLC dies? Does the ownership interest go to the other members? Does it go to the deceased member’s family? Does the company just dissolve? Take a moment to familiarize yourself with the law in Tennessee and how operating agreements can help determine distribution of ownership interests.
If you are considering starting a new business, limited liability companies (LLCs) have some key benefits that these entities have that are worth considering. Find out more in this article.
If you have created a living trust and are planning to move out of state, here are some key points to consider regarding the validity of your trust. Understand that moving to another state can have significant consequences as to the interpretation and administration of your trust.
It is not pleasant to think about disinheriting a child. Its heartbreaking. Its difficult. But it happens. When you are considering disinheriting a child, understand that it should be done cautiously. The impact of such an action on your relationships can cut deep. Here is an overview of the reasons a parent may choose to disinherit a child in Tennessee and what to consider before doing so.
Creating a power of attorney (POA) should be one of your first priorities when it comes to preparing for your future. If you are a newly wed, recently graduated, have experienced the death of a loved one, or are just worried about the future, strongly consider creating powers of attorney to appoint someone you trust to make decisions for you. Here are five reasons why you need to have powers of attorney in place.
If you are a beneficiary of an estate, you may have concerns about the fitness of an executor to serve. Maybe you are worried they are taking money from the estate and using it for their own benefit. Maybe they are not mentally capable of serving. Whatever your concerns are, understand that action can be taken to remove an executor if he or she is not fulfilling his legal duties.
Inheritance theft is not something we think about on a regular basis, but it is surprisingly common. Unfortunately, many of those that have ill designs on our estates and assets are close to us. Find out how to protect yourself and your family in this article.
When planning your estate, understand that transparency among your family will go a long way to helping your family understand your wishes and prevent controversy.
When a spouse dies unexpectedly, sometimes they have not prepared a will or trust. Maybe they forgot to update their estate plan when they passed away. When this happens, the surviving spouse can elect to receive a certain part of their spouses estate. Find out how this elective share works in this article.
If you are named as the successor trustee of a loved one's revocable living trust, you likely have many questions: How do I manage the trust? What about debts? What about closing the trust out? If you have these questions, take a moment and familiarize yourself with your responsibilities as trustee and how to handle these issues.
Powers of attorney appoint someone to make healthcare and financial decisions for you if you cannot make decisions yourself. But what happens when you need to revoke that power of attorney and remove the person you named as your decision maker from power. Find out the process in this article.
Here are four common mistakes to avoid when preparing your last will and testament or are considering your estate plan. Take a moment to read through this article to understand how these mistakes arise and how to sidestep them.
If you are considering who should be witnesses to your will, take a moment to read this article. If you have a person who inherits under your will serve as a witness, understand that it can create problems for that beneficiary. Learn how to avoid any potential issues here.
Revocable living trusts have many advantages, but creating these trusts are only part of the battle. A revocable trust must be properly funded with assets. Find out what should go in a revocable trust and how it should be funded in this article.
If you own out of state property, it may be a good time to review your estate plan. Without proper planning probate may be required in those states in which you do not reside. Learn how putting those properties in a revocable living trust will avoid probate in those states and streamline the distribution of those assets.
Business is booming in Clarksville, Tennessee. While there may seem like there's no end in sight to how far our city can grow, your business could face an untimely end should something happen to you. Find out why incorporating your business into your estate plan is so important.
Persons with intellectual or developmental disabilities have the same legal rights as anyone else in Tennessee. However, that changes when a person becomes the subject of a conservatorship. In this blog, we will explain what rights may be taken away by Tennessee Courts.
A good financial advisor knows how important it is to have an estate plan that meets your long term financial goals. Find out how financial advisors can be of benefit in helping to create an estate plan that works for you and your family.
When you create a will, some family members and friends may be curious as to what your will says. Are they entitled to see a copy? Can they read it after your death? Learn who is entitled to read your will and the best places to keep it during your lifetime.
An emergency conservatorship is a type of conservatorship that is temporary in nature. It is uniquely designed to help protect disabled persons from potential harm to themselves and to others. Find out more about emergency conservatorships in this blog.