Estate & Probate Law

Estate Planning

The process of Estate Planning helps to prepare your estate and all of your belongings for your heirs in the event of your death or incapacitation. There are many benefits to preparing ahead of time. 

What is my Estate?

When a person passes on (the "decedent"), his or her money and property  must be legally given to the correct co-owner(s) or heir(s) and his or  her debts must be paid. The things the decedent owned at death are called  the Estate. 

Basic Estate Planning Needs

1. Last Will & Testament

2. Durable Power of Attorney ( General or Financial)

3. Durable Health Care Power of Attorney, Appointment of Health Care Agent, or Advance Health Care Directive or Plan

Why should I have an Estate Plan?

By having an Estate Plan in place you can........

A. Ensure the appropriate distribution of your assets.

B. Help your family avoid the financial and time ramifications of Probate Court.

C. Reduce or do away with Estate or Death taxes for your family.

 What is Probate?

Probate is a court-supervised legal process that could be required  after someone dies. Probate gives someone, usually the surviving spouse  or other close family member, the legal authority to gather the deceased  person’s assets, pay debts and taxes, and eventually transfer assets to  the people who inherit them. Without a Will, Power of Attorney, or Trust in place your family will be placed at the mercy of the court to decide who gets what from your estate.      

Probate in Tennessee commonly takes six months to a year. It may take  longer if there is a court fight over your assets or debts.

Estate or Death Taxes

Estate or Death taxes in the US can be substantial. There are options such as Charitable Trusts, Family Limited Partnerships, Life Insurance Trusts, and even "gifts" that can be set up to help your family after you pass. Kathy can help you decide which one of the options might work for your family.

Whether you are ready to write your will to protect your family, or you find yourself in need of an attorney to represent your interests at probate ......we'll be here when you're ready.