On behalf of Law Office of J. Patrick Henry | Sep 8, 2020 | estate planning
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...
On behalf of Law Office of J. Patrick Henry | Aug 19, 2020 | estate planning
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...
On behalf of Law Office of J. Patrick Henry | Jun 23, 2020 | 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...
On behalf of Law Office of J. Patrick Henry | May 8, 2020 | estate planning
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...
On behalf of Law Office of J. Patrick Henry | Apr 27, 2020 | estate planning
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...
On behalf of Law Office of J. Patrick Henry | Apr 3, 2020 | estate planning
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...
On behalf of Law Office of J. Patrick Henry | Mar 5, 2020 | estate planning
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...
On behalf of Law Office of J. Patrick Henry | Mar 5, 2020 | estate planning
Part of the allure of estate planning is to help your family avoid having to pay taxes after your death on anything you leave to them. There are many ways to ensure that your heirs inherit tax-free with the most common being that you leave your estate to your spouse....
On behalf of Law Office of J. Patrick Henry | Mar 5, 2020 | estate planning
If you are a small business owner, your estate plan becomes incredibly important because not only does it provide for your family but also your business. You need much more than just a will that outlines what you want. You will need a range of documents and tools to...
On behalf of Law Office of J. Patrick Henry | Mar 5, 2020 | estate planning
Often when creating your estate plan, the best tools are those that will allow the smoothest conversion from you to an heir after your death. Trusts are quite popular for this reason. However, a Roth IRA can be just as good of a tool as long as you understand the...
