Some people have a cause they feel passionate about and want to share their wealth with their favorite cultural or social organization. By establishing a charitable trust, you may accomplish charitable giving while also providing for your family. Trusts used for...
Estate Planning
Understanding undue influence in estate planning
Estate planning involves making decisions about what happens to your assets, like money, property and belongings, when you are no longer here. It is an opportunity to consider how you want your possessions distributed among your loved ones, and you should draft your...
Should you name a backup executor?
When crafting your last will and testament, one particularly important decision you will make is the selection of an executor. This is the person responsible for ensuring the fulfillment of your final wishes as they pertain to your estate. However, it is entirely...
What to look for when choosing an executor
When creating your will, one of the most important decisions you will face is selecting an executor. The executor plays a pivotal role in managing your estate, so you must choose someone who is up to the task. Keeping in mind a few key characteristics can help you...
When should you update your will?
Creating a will is an important step in ensuring others honor your wishes after you pass away. However, you need to remember that your will is not a one-and-done document. Life is constantly changing, and your will should evolve with it. There are several life events...
Do beneficiaries pay estate tax in Tennessee?
Tax reduction is a common estate planning goal. You could have concerns about how federal and state estate tax will affect the value of the assets in your will. While Tennessee does not have a state estate tax, your beneficiaries may have other tax considerations....
How can you respectfully discuss estate planning with parents?
Discussing estate planning with your parents may not be the most comfortable conversation, but it is an important one. Approaching this topic respectfully is one way to make your parents' wishes clear for years to come. It is important to know how to navigate this...
Benefits of estate planning
You probably enjoy planning vacations, your shopping endeavors and meals, but you probably do not want to think about what happens after you die. It is not as fun as other forms of planning, but it is the only way to think about where all of the assets you worked hard...
Considerations that can improve your estate plan
Estate planning might not seem like a big deal if you do not see an immediate need, but waiting too long to start something could have costly repercussions. According to U.S. News, a staggering 56% of Americans do not have an estate plan. Proactive planning can help...
Consider your funeral options in your estate plan
When arranging your estate plan, it may seem easy to focus more on the inheritance aspects versus the end-of-life aspects. However, declaring your wishes in advance in writing and communicating with your family ahead of time about your funeral preferences may save...