Naming beneficiaries may take some time as you determine who you feel would most benefit from your estate. In fact, as your life progresses, you may change who you have listed as beneficiaries. Understanding some strategies for selecting beneficiaries, as well as...
Does your estate planning include funeral plans?
When you dive into your estate planning, there might be a lot on your mind: trust funds for your loved ones, wills for your property and making sure someone you trust has the authority over your health if you ever need it. But another important part of your estate...
What roles do beneficiaries play?
When creating your estate plan, it is crucial to understand the role that each individual plays in the whole. Some hold a more active role, such as healthcare proxies and trustees. Others, like beneficiaries, have a more passive part to play. But this does not mean...
Preparing for the potential of estate taxes
Tennessee residents work hard throughout their lives accumulating assets in order to pass that wealth on for the benefit of their family and friends. The estate planning process offers plenty of opportunities to preserve assets (such as settling debts before one's...
What are the two kinds of living trust?
The majority of adults are familiar with the function of a last will and testament. It is true that the majority of comprehensive estate plans contain a will. However, a last will and testament is not the only way for you to hand down your valuable assets to your...
How to talk to your aging parents about estate planning
While it is not an easy conversation to have, adult children must be able to honestly communicate with their elderly parents about estate planning. Simple preferences such as cremation over burial or the city of their final resting place can be addressed in the plan –...
4 common mistakes to avoid in your estate plan
While drafting a comprehensive estate plan might feel like an intimidating experience, it is wise for individuals to set aside time to ensure their end of life wishes are clearly explained and managed. It is an important first step to begin developing the estate plan,...
Why you shouldn’t put off estate planning
While most people think of estate planning as something that only older people do, you shouldn't delay this process because death can befall any of us at any time. Probate judges distribute your estate as per intestate succession laws unless there's a will that...
Estate planning when you’re scared: What you can do
Creating a new estate plan or altering one that you already have is never easy. In fact, depending on the circumstances, it can be downright scary and intimidating. Just because you’re scared doesn’t mean you can put estate planning on the back burner and hope for the...
What is an incentive trust?
An incentive trust is one that sets up requirements that a person has to meet before they get the money or other assets in the trust. It is one tool that you can use during your estate planning to impact how your heirs choose to live after you pass away. Generally...
