Many people in Tennessee and other U.S. states may understand the importance of estate planning. However, knowing exactly how to navigate the process can seem confusing and even intimidating. If you've been putting off estate planning, don't beat yourself up over it....
Most residents of Tennessee have heard of estate plans and know that they need to create their own. An individual may fail to make an estate plan because they assume it is simply about leaving liquid assets behind, but that is not the case at all. There are many other...
It used to be that divorces among older adults were comparatively uncommon; they accounted for only about 10% of all filings until the 2000s. But today, about a quarter of all divorces involve people over age 50. A related phenomenon is that many older adults in...
A will is a legal document that states the final wishes of the deceased party on how to handle their affairs. Statistics show between one-third and two-thirds of Americans do not have a will. Not having a will in Tennessee could leave a person's assets in the hands of...
Successful business owners often think of every problem that could impact their business. Forecasting potential troubles and making contingency plans might keep a business in decent operational shape. Forward-thinking entrepreneurs may realize that estate planning...
Many Tennessee residents are not as vigilant as they should be about their account beneficiary designations. They may not realize the power that the designation has. As a result, they need to periodically review each of their accounts and make sure that the listed...
A trust can be an important part of an individual's estate plan in Tennessee, but if the person does not fund the trust, it could be worthless. Assets that are not in the trust will generally have to go through the probate process. There are some exceptions. For...
For Tennessee residents, estate planning is one of the most misunderstood areas of their finances. People assume that this type of planning is only for their death, so they shy away from discussing it with their family. The truth is that estate planning is so much...
When people in Tennessee consider their plans for the future, they may want to think about ways to reduce estate tax liabilities. Most people want to pass on much of what they leave behind to their loved ones or even a favored charity without a substantial estate tax...
A living will, in the real sense, is not like any other will you may sign. It seeks to give your preferences on critical matters involving your death. For example, in your living will, you may state that you want your kin to cremate your body rather than bury it. The...
