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Estate Planning Center
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A common misconception is that only wealthy families and people in high risk professions need to have an asset protection plan. But in reality, anyone can be sued. A car accident, foreclosure, unpaid medical bills, or an injured tenant can result in a monetary judgment that will decimate your finances.... Continue reading
Posted 1 hour ago at Estate Planning Center
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1. What is the difference between a will or trust? A will is a written instrument that outlines how your assets are to be distributed at your death. On the other hand, a trust is a written instrument that describes how your assets are to be managed once they have... Continue reading
Posted 7 days ago at Estate Planning Center
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Many people believe that once they set up a Revocable Living Trust and transfer assets into the trust, those assets are protected from lawsuits. This is absolutely not true. While Trusts commonly provide asset protection for beneficiaries, few trusts protect assets owned by the person who created the trust. No... Continue reading
Posted Jun 27, 2019 at Estate Planning Center
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Although leaving your hard-earned assets outright to your children, grandchildren, or other beneficiaries after you die may seem like the easiest and most desired form of distribution, this scheme will make their inheritance easy prey for creditors, predators, and divorcing spouses. Instead, consider using discretionary trusts for the benefit of... Continue reading
Posted Jun 24, 2019 at Estate Planning Center
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We are pleased to announce that the Crossville office of the Estate Planning Center is moving to a new location. Effective June 10, our office will be located at 24 Peavine Plaza, Suite 101. If you are unfamiliar with that location, it is about 3 miles north of I-40 on... Continue reading
Posted Jun 7, 2019 at Estate Planning Center
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A will or trust contest can derail your final wishes, rapidly deplete your estate, and tear your loved ones apart. But with proper planning, you can help your family avoid a potentially disastrous will or trust contest. If you are concerned about challenges to your estate plan, consider the following:... Continue reading
Posted May 30, 2019 at Estate Planning Center
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There are few things as intimidating as the project of estate planning. The best time to plan for your incapacity or death, though, is while you’re still healthy. With a little time, effort, and guidance from a trusted estate planning professional, you can develop a plan and obtain peace of... Continue reading
Posted May 23, 2019 at Estate Planning Center
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Most people understand that having some sort of an estate plan is a good thing. However, many of us don’t take the steps to have an estate plan prepared because we don’t understand the nuances between wills and trusts – and dying without either. Here’s what will generally happen if... Continue reading
Posted May 16, 2019 at Estate Planning Center
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As we age, we tend to need a tad more help with everyday tasks. Some of us may even find ourselves needing to be cared for by a family member or close friend. Or maybe you are the family member who is becoming a caregiver for an elderly parent or... Continue reading
Posted Apr 18, 2019 at Estate Planning Center
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So you have done the hard work of establishing an estate plan. Good for you! However, you still have serious work to do to ensure that the strategy you have selected will maximize your peace of mind and protect your legacy. Estate plans should be like living, breathing creations that... Continue reading
Posted Apr 11, 2019 at Estate Planning Center
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Whether or not you currently have estate planning documents, one important item to add to your calendar is getting an estate plan checkup. Don’t Have an Estate Plan? If you don’t already have an estate plan, then getting one in place should be at the top of your to-do list.... Continue reading
Posted Apr 4, 2019 at Estate Planning Center
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Confused about the differences between wills and trusts? If so, you’re not alone. While it’s always wise to contact experts like us, it’s also important to understand the basics. Here’s a quick and simple reference guide: What Revocable Living Trusts Can Do – That Wills Can’t Avoid a conservatorship and... Continue reading
Posted Mar 21, 2019 at Estate Planning Center
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A scary health diagnosis can be emotionally and logistically challenging for many reasons. For instance, how can you take care of your family if you’re physically incapacitated? In addition to working closely with your medical providers, consider these three legal tips: Check your estate plan with your attorney to make... Continue reading
Posted Mar 15, 2019 at Estate Planning Center
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We are excited to announce that our Crossville office and our Chattanooga office are both staffed full-time. Office hours are Monday through Friday, 9:00 a.m. to 4:30 p.m. If you live in the Chattanooga area, that's Eastern time; but if you live in the Crossville area, it's Central time. We... Continue reading
Posted Mar 8, 2019 at Estate Planning Center
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You think you have everything completed in your estate plan. Well, make sure that you haven’t overlooked something important. 1) Lack of Healthcare and Disability Planning. The majority of deaths occur in hospitals or other institutions. Patients may be incapacitated to the point where they can no longer communicate their... Continue reading
Posted Feb 8, 2019 at Estate Planning Center
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You have worked hard for years, have family members and friends you care about, and have approached a time in your life when “estate planning” sounds like something you should do, but you are not exactly sure why. You may feel that you are not wealthy enough or old enough... Continue reading
Posted Jan 18, 2019 at Estate Planning Center
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You probably know that the practice of medicine is a profession fraught with the risk of liability. It’s not just medical malpractice claims either (although those are certainly scary enough). It’s the entire scope of risk from being in business, including employment-related issues, careless business partners and employees, and contractual... Continue reading
Posted Jan 4, 2019 at Estate Planning Center
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This is the season for wishing all our clients and friends in Crossville and Chattanooga moments of pure joy and memories that make you smile. It is also a time for remembering the greatest Christmas gift of all - Emanuel, God is with us! Continue reading
Posted Dec 24, 2018 at Estate Planning Center
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While it is an honor to be named as an executor of a will or estate, it can also be a sobering and daunting responsibility. Being an executor (sometimes called a personal representative) requires a high level of organization, foresight, and attention to detail to meet responsibilities and ensure that... Continue reading
Posted Dec 13, 2018 at Estate Planning Center
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With extreme wealth accumulated, one would assume that celebrities would take steps to protect their estates. But think again: Some of the world’s richest and most famous people enter the pearly gates with no estate plan in place, while others have made estate planning mistakes that tied their fortunes and... Continue reading
Posted Dec 6, 2018 at Estate Planning Center
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When you pass away, your family may need to visit a probate court in order to claim their inheritance. This can happen if you own property (like a house, car, bank account, investment account, or other asset) in only your name. Although having a will is a good basic form... Continue reading
Posted Nov 29, 2018 at Estate Planning Center
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The decision on your assets is better made by you than state law. The key to estate planning is to plan ahead and have a say in where your assets end up, rather than let the state make the decisions, according to Kiplinger in “Estate Planning: A Family Affair.” If... Continue reading
Posted Nov 26, 2018 at Estate Planning Center
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If you don’t marry someone close in age, your estate plan may require a closer look. When a couple has an age gap, there may be some special challenges ahead when it comes to estate planning, according to The Washington Post in “How will a couple’s retirement look when there’s... Continue reading
Posted Nov 23, 2018 at Estate Planning Center
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This Thanksgiving we are grateful for all our family, friends, clients, and associates. May the gratitude we all feel on Thanksgiving day continue as part of our daily experience. Continue reading
Posted Nov 22, 2018 at Estate Planning Center
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Nursing home care will most likely increase in cost through the years. The possibility of needing long-term care is an expensive proposition and should be included in your estate planning, according to CNBC in “This retirement expense has hit $100,000 annually–and it’s continuing to rise.” The article highlights that a... Continue reading
Posted Nov 21, 2018 at Estate Planning Center