Consider this Estate Planning 101, an introduction to some of the most important steps to take in planning for the future. Most people are aware that they need a Last Will and Testament. But that is not the only essential document in an estate plan. Below is a list of the 4…
Recent reports indicate that musical mega-star Prince may have passed away without a will or other estate planning in place. If that is true – a very big IF – his inaction will likely cost his estate millions of dollars in federal and state tax bills. In addition, contentious lawsuits…
What happens if you and your siblings inherit property from your parents, and you don’t agree on what to do with it? (what, siblings disagree?) Can you force the sale of the property? In Tennessee, in many instances, the answer is yes, through an action called a partition. This need…
Do you store pictures online? Have a Facebook account? Keep documents in the Cloud? Or use online accounts to maintain certain aspects of your life? If so, you should be aware that earlier this month Tennessee Governor Bill Haslam signed into law a bill that could impact what happens to…
Country music legend Glen Campbell is engaged in a very public struggle with Alzheimer’s disease, a common form of dementia. Campbell announced his diagnosis in 2011 before embarking on a farewell tour with his family, which was documented in the feature film, “Glen Campbell: I’ll Be Me.” The film depicts…
What if your spouse has passed away and you were left out of their Last Will and Testament? Maybe the Will was prepared before you were married, or before you even met. Maybe they intentionally attempted to disinherit you. Do you have any options as a surviving spouse? In Tennessee, the…
This is a common question from estate planning clients. Once a year, you should make a point of thinking through your family and life circumstances with an eye toward your estate planning goals and priorities. Major life changes involving you or your family often create the need to revisit your…
If you are a resident of Tennessee, the amount of state tax your estate will owe, as of January 1, 2016 is: zero. Tennessee’s inheritance tax (known in most states as an “estate tax”) phased out permanently at the start of 2016, which means for anyone who passed away on…
According to multiple news reports, Robin Williams’ wife, Susan Williams, stated that she was forced into taking legal action against Robin Williams’ children concerning his estate. She told “Good Morning America” in an interview which aired recently that, “Two and a half weeks after Robin had left, I was still…
No one wants to think about leaving their kids and family behind when they pass away, however, if you have the best estate plan possible for your family, then you can make sure they will be well taken care of. When your kids are old enough to be on their…