Tennessee Estate Planning Lawyers
Estate Planning Attorneys – Offices In Memphis & Nashville
What is Estate Planning and what does it entail?
Estate Planning is an important part of protecting and preserving your assets and your family. Estate planning usually falls into the following categories:
- Wills, trusts, and powers of attorney
- Estate planning for entertainers and high-profile individuals and families
- Probating estates
- Estate and trust administration
- Business planning
- Business formation and general counsel services
- Probate Litigation
- Will Contests
No matter your wealth, it is important that each person plan their estate. If searching for a legal firm in Tennessee to help you, consider calling The Family Law Firm for guidance.
Reasons you should plan your estate
- You have significant assets
- You want to ensure your will is enforced
- You want to protect your family
Important Factors To Consider When
Drafting A Will And Planning Your Estate
Factors in Estate & Assets
- Real Estate
- Stock Holdings
- Business Ventures
- Insurance Policies
- Collectible Assets
- Your Will
Common Probate Issues
- Lack of detail or specification
- Greedy family members
- Executor failing to perform
- Assets in multiple states
Our Estate Planning Process
Estate Planning Attorneys in Tennessee
Estate planning involves developing a complete strategy for managing your assets. Estate planning is “life planning,” and usually requires the preparation of several sophisticated legal documents.
This strategy must be properly documented and maintained by a committed professional who has taken the time to get to know you and your specific needs.
Many people have the misconception that estate planning is for the wealthy. That belief could not be farther from the truth! Estate planning is for every husband, wife, mother, father, grandparent, business owner or professional who:
- Has someone they care about
- Is concerned about providing responsibility for their own well-being and the well-being of loved ones
- Is seeking to make a difference in the lives of others after they are gone
Qualifying Factors for needing help of an attorney
- You’re in a second (or later) marriage
- You own one or more businesses
- You own real estate in more than one state
- You have a disabled family member
- You have minor children
- You have problem children
- You don’t have any children
- You want to leave some or all of your estate to charity
- You have substantial assets in 401(k)s and/or IRAs
- You were recently divorced
- You recently lost a spouse or other family member
Wills
The will is the cornerstone of most estate plans. It includes basic details about:
- How you want your property distributed after your death
- Provisions for your children and other dependents
- Who you choose to be executor of your estate
- Charitable donations you may wish to make posthumously
Power of Attorney
Getting your affairs in order does not only concern planning for a time after your death. This is a good opportunity to put some contingency plans in place in case there comes a time when you are unable to make choices or carry out certain actions yourself. Financial power of attorney is a tool that allows you to choose an agent who can act on your behalf in financial matters.
Health Care Directives
Many people have strong feelings about life support and other heroic health care measures. It is a good idea to document such preferences in a living will or advance directive, so that in case something happens, your family and medical team can act in accordance with your wishes. You can also designate someone to make health care decisions on your behalf.
Planning your estate can be a complex yet important matter. A lawyer can help ensure that your wishes are followed in the event of an untimely passing, and protect your family in the future.
Contact A Tennessee Estate Planning Attorney
If you are seeking legal help with planning your estate, The Family Law Firm, PLLC offers their legal expertise to you. Our Tennessee-based law firm has helped numerous families plan their estate, draft their will, and prepare for a transition of assets.