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Glen Campbell's estate to be governed by Tennessee law

With talent and success often comes an amassed estate that grows over a person's lifetime. For successful musicians, their legacy lives on after their death as their music often continues to bring financial security, even after a person passes on. For musician Glen Campbell, his widow is moving to protect her inheritance after his recent death. A court battle has been ongoing and for the recent widow, she is moving to assure she gets 40 percent of his behest.

Probate and estate matters are almost always governed by state law. In Tennessee, a law exists that guarantees a widow a set percentage of her late husband's estate in the event he dies without a valid will. In Campbell's case, he is not known to have a valid will. The most recent will, submitted by the widow, was contested by his three children. It specifically excluded the same three children from benefiting from his estate. While the validity of that will has neither been proven or disproven, the recent development in which state law allows for a percentage in case of lack of validity of will certainly may ensure the widow some large percentage of her late husband's estate.

Bankruptcy after divorce: What to know

When you found out that your spouse wanted a divorce, it devastated you. You thought you were a good match and never saw this coming.

After your initial reaction, you realized that you're facing many difficult decisions. Although your spouse has a good job and is financially stable, you're not in the same position. You've been looking for work and haven't found anything that pays enough to live on. Now, there's a real risk that you'll lose everything.

Create a divorce solution that works for you and your family

We all know that things change and sometimes marriages can't or shouldn't last, and that is what divorce is for. Every marriage will have its own quirks and perhaps even a child custody arrangement to determine, which makes it even more important that you build a divorce solution that works for you and your family. Many people who are going through a divorce are concerned about the financial aspects of divorce.

Who will acquire what assets and what about the liabilities a marriage often takes on, like a mortgage and other financial obligations? Also, one spouse may feel that they are entitled to alimony or some type of spousal support due to their personal and career sacrifices during the marriage, while the other spouse was furthering their career and personal success. For those with children, what is the ideal child custody arrangement?

Avoiding or minimizing the impact of probate is key

When you have lost a loved one, there is so much to handle, both logistically and emotionally. Losing someone you care about is not easy, yet it is something most all of us will experience in our lifetime. For people who lose close family members, like parents and siblings, there may be legal matters to handle when it comes to the person's estate. Some people have a clear and defined estate plan, while for others, it may be less obvious.

They key to both of these situations is avoiding probate completely, or as much as possible. Probate is the process by which a will is proved to be accurate and valid in a court of law. While this may sound harmless enough, it can prove to be a long and trying process for the parties involved in probate as the will, and a person's estate, cannot be cleared as long as there is an issue with the validity of the will.

Double-checking the legality of your marriage before divorce

Thinking back on your wedding day may bring up a mix of emotions. This is especially true if you are thinking of ending your marriage in a divorce. Relationships don't always work. However, in order to qualify for divorce, you have to be legally married.

Shouldn't you be legally married? The minister was there and the document signed - right? Turns out, Tennessee is a state that doesn't recognize or honor marriages performed by ministers ordained online through sites such as Universal Life Church. The website is one of many that advertises a multi-denominational religious organization that makes it quick and easy to become ordained online. The site advertises that a person that passes the program may perform functions any other minister can perform, such as marriages.

Can an annuity help protect wealth?

There are a number of financial tools that are designed to help protect wealth. One example that can serve this purpose is an annuity.

What is an annuity? At its most basic, an annuity is a contract that results in an agreement by an insurance company to provide a fixed payment to the intended beneficiary. An annuity can serve a number of purposes. Two examples include the use of an annuity as a retirement planning tool or as a means to distribute assets from an estate.

Don’t make one of these common estate planning mistakes

Is estate planning at the forefront of your mind? Are you hoping to make your way through this process in the near future? Do you need to make some adjustments to the plan you already have in place?

Since estate planning is so important, you need to do whatever it takes to avoid a mistake. Unfortunately, a single mistake, even if it doesn't seem like a big deal now, can impact you and your loved ones at some point in the future.

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