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Estate Planning & Probate Archives

When a corporate trustee is the right choice

Trusts may have a variety of uses for Tennessee residents. They may be designed to allow certain types of assets to appreciate in value tax free before being passed on to beneficiaries. They may allow the grantor to dictate how distributions will be made based on any criteria the grantor wishes to set, such as the beneficiary's age. Grantors can also use a trust to state their goals.

Estate planning documents should be regularly reviewed

Many people in Tennessee want to complete the estate planning process and then put those documents aside. Due to inevitable life and law changes, however, estate plans can often be ripe for review and updating. This will help to ensure that they accurately reflect one's wishes.

Using trusts to protect assets from adult beneficiaries

People in Tennessee may make a grave error if they leave their assets outright to their adult children without considering whether their offspring have the financial maturity needed to properly handle the wealth they receive. Just because someone is a particular age does not mean that he or she possesses financial sophistication. It is important that individuals consider the risks associated with leaving inheritances directly to adult children and the benefits of using a trust as a vehicle for the inheritance.

Why estate planning is essential for businesses

Tennessee business owners have a great deal to consider when planning for the protection and longevity of their companies. However, one layer of security that is often overlooked is business estate planning and probate. Most people make provisions for the financial care of family upon their demise. Unfortunately, many business owners neglect to properly plan for the survival of the very thing they have spent their lives building. While business estate planning might seem overwhelming, there are substantial considerations that make it necessary to begin a business estate plan as soon as possible.

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