Estate planning should be done sooner rather than later, yet it is often delayed until it is too late. While many Estate Plans include a Will or details about who will care for the children, there is more to consider. Here are some misconceptions about Estate Planning and what you should keep in mind:
Divorce at any age can be a challenging and emotionally charged process, but couples navigating divorce after 50 face unique issues and complexities. Known as “gray divorce,” the dissolution of marriages among older adults has been on the rise, reflecting changes in societal attitudes and personal expectations. In Tennessee, divorcing after 50 presents specific legal, financial, and personal considerations.
A new year means new laws. Below are five new Tennessee laws to be aware of. These laws are effective January 1st, 2024.
James Dustin Samples Act, Abrial’s Law, & Senate Bill 0814 | Five New Tennessee Laws
This new act of legislation will enact a grant program. This program will cover the cost of employers that provide workers’ compensation for firefighters. Allowing them to seek help with PTSD (post-traumatic stress disorder). This act is named after James ‘Dustin’ Samples, a firefighter from Cleveland, Tennessee. Sadly, James took his own life after battling PTSD.
(Source: wapp.capitol.tn.gov/apps/BillInfo/Default.aspx?BillNumber=SB0856)
Safeguarding your wealth is a prudent and responsible measure. Asset protection involves legal strategies to shield your assets from potential creditors, lawsuits, and other financial threats. Below, we will explore key concepts, strategies, and legal tools to help you navigate the complex asset protection landscape.
If your parents died without a Will, it is challenging to know how to divide their property and assets legally. When there is a death without a Will, it is known as dying “intestate.” If this is your situation, you must determine how your state laws dictate asset distribution. Below, we will explore the steps to take and the legal processes involved when handling your parent’s property if they pass away without a Will.
Navigating a military divorce can be complex. This type of divorce can present unique challenges and legal complexities that differ from civilian divorce. This type of divorce is primarily complex due to the intersection of military service regulations and family law. Below, you will find some key considerations involved in military divorces.
When your child turns 18, they officially become adults in the eyes of the law. As adults, it is time to prepare the 9 Legal Documents Adults need. Yes, we realize this is not what an 18-year-old wants to think about at this time in life. However, while this transition is often marked by newfound independence and responsibilities, it requires various essential legal documents. These documents are necessary to protect your new adult’s rights and well-being. Here is a list, along with some essential information, regarding the 9 Legal Documents you should consider for your child’s coming of age:
We are here to help you understand TN Community Property Trusts (CPTs). These are valuable estate planning tools offering unique benefits for married couples in Tennessee. While not as common as traditional revocable living trusts, CPTs can manage and protect assets while taking advantage of Tennessee’s community property laws. Below, we’ll explain the critical aspects of Tennessee Community Property Trusts and why they may be advantageous for couples.
When it comes to safeguarding your wealth, the Tennessee Investment Services Trust (TIST) is a powerful tool in the area of asset protection. This legal structure may offer you a unique and effective means of shielding your assets from potential creditors. In addition, TIST can help you retain control over your investments. Below, we’ll explore the key aspects of TIST and how it can bolster your financial security.
Planning for the future involves more than just setting goals. It requires comprehensive legal arrangements, such as Health Care and Financial Power of Attorneys, to ensure your wishes are honored. This type of consideration is crucial, specifically in unforeseen circumstances. The Health Care Power of Attorney (HCPOA) and Financial Power of Attorney (FPOA) are necessary legal documents. These legal instruments empower individuals you trust to make crucial decisions regarding your medical treatment and financial affairs when you cannot do so.