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Estate Planning Archives

Including immediate child care needs in an estate plan

Many Tennessee residents are well aware of the financial and practical benefits of estate planning. By preparing key documents, estate owners can help their beneficiaries to avoid unnecessary taxes, probate costs and associated delays. In addition, people who plan for the future often feel a profound sense of peace of mind knowing that their loved ones will be provided for.

How to choose the right people for roles in an estate plan

A major problem that many Tennessee residents make when planning for the future is failing to appoint the right people for various roles in their estate plans. These roles could include trustees, executors, powers of attorney and smaller roles including those appointed to manage Social Security payments.

Trusts and rising interest rates

By using trusts as part of an estate plan, a Tennessee resident can ensure that certain assets are managed and distributed according to their wishes. Those who have been uncertain about using trusts may be interested to know that due to the recent rise in interest rates, certain types of trusts, such as GRATs and CLATs, can be very beneficial to grantors.

Estate planning can help deter family conflict

When a loved one passes away, the situation can soon become complex for families in Tennessee. Issues with a person's estate and disputes over their assets within the family can breed distrust or exacerbate existing concerns over dishonesty, greed or theft. This is especially problematic when a person dies without a will or did not speak with the family about their plans for the estate. While there is no certain way to avoid future conflict, developing an estate plan can help create clear guidance for how a person's assets should be distributed after death.

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Smith, Lehberger & Bodie

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Smith, Lehberger & Bodie
10265 Kingston Pike
Suite C
Knoxville, TN 37922

Phone: 865-643-8626
Fax: 865-337-7363
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