There are some things in life that are inevitable and one of those is death. No one really likes to talk about his or her own mortality, but when it comes to estate planning, Tennessee residents need to address the subject if they wish to ensure their loved ones are taken care of after they’ve died. Many people don’t even like to use the word death and use metaphors when they speak of it, like kick the bucket, six feet under or pushing up daisies.
Writing an estate plan does not mean a person gives up control or ownership of his or her assets. On the contrary an estate plan does the opposite by giving the testator control over who will inherit his or her assets and when. A person can also choose how those assets will be disseminated.
When a person takes the time to arrange his or her affairs, it speaks volumes to family members who are already grieving the loss of a loved one. In terms of what a well-rounded, legally binding estate plan can do for family, the time spent writing one is negligible. It is one of the last gifts a family member can provide for loved ones.
When Tennessee residents realize that their estate planning is actually a gift to their loved ones, they may be ready to speak to an experienced attorney about fashioning a plan that meets their individual needs. A lawyer can explain the tax ramifications of various plans and how they may impact their heirs. He or she can also help to make writing a plan less daunting so that a client is left with peace of mind knowing the welfare of his or her family members will be adequately addressed.