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Category Archives: Estate Planning

How Long Does the Tennessee Probate Process Take and What’s Involved?

When an individual dies, some or all of their estate — such as personal belongings, financial assets and real property — may have to go through probate. This court process involves appointment of a personal representative — often a spouse or close family member — who is charged with paying any outstanding debt and taxes […]

Understanding How COVID-19 May Have Affected the Value of Your Estate

The economic and personal upheaval triggered by the COVID-19 outbreak is likely to warrant a review of your estate plan, no matter how thorough you think it is. As Americans cope with health fears and financial volatility, it’s worthwhile to determine whether a will, trust, advance medical directive or other legal instrument needs to be […]

Understanding the 2020 Gift & Estate Tax Exemption

Almost nobody has to worry about paying federal estate taxes upon their death, so long as they die soon and aren’t multimillionaires. The 2020 gift and estate tax exemption is so large it might as well be the rule — $11.58 million for an individual, $23.16 million for a married couple. Unless you are one […]

Charitable Contributions Under the Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act of 2017, President Donald Trump’s keystone tax reform law, was a dramatic reshaping of the tax landscape for nearly all Americans. One of the biggest changes was an increase in the standard deduction to $12,000 for individuals and $24,000 for couples. This increase, coupled with eliminations of some itemized […]

Using Your Estate Plan to Provide for Your Partner If You Are Not Married

When you die without a will, trust or other estate plan, your assets generally will be distributed to your closest family members as prescribed by law, including a surviving spouse. But what if you’re one of the many people who have lived in committed relationships but for various reasons have not tied the knot? For […]

Highlights of Estate Planning Goals and Objectives

When most people think about estate planning, the first issue that pops into their mind is taxation. After all, you don’t want to work your entire life and amass a small fortune, only to see the federal and state tax authorities come in and carve out half of that for themselves, rather than it going […]

Why Do You Need a Digital Estate Plan?

A digital estate plan accounts for digital assets that may not be factored into other parts of your plan. With a digital estate plan, you can make arrangements for what you want to happen to these unique assets at the time of your death. Laws regarding wills and probate are often very slow to change, […]

How the Tax Cuts and Jobs Act May Affect Your Estate Plan

In 2018, the Tax Cuts and Jobs Act (TCJA) was passed by Congress, greatly overhauling the U.S. tax system. If you have not made changes to your estate plan for several years, it may be time to consult with an estate planning lawyer to learn how the new tax scheme affects your plan. These are […]

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