The only income tax assessed in Tennessee is the Hall’s Income Tax, which is a 6% tax on earnings from stocks and bonds.
In Our Judgment
Duties of the personal representative or executor of an estate (I’ll use ‘executor’ for both) include gathering, protecting and distributing assets that belonged to the deceased. In this part of the country, firearms are frequently part of the estate. After the firearms are safely unloaded and securely stored, it’s time to decide what you have.
The financial exploitation of older Americans by their own families, friends, acquaintances, and salespeople is a serious problem in our country – particularly as the number of older citizens increase. It is estimated that more than 2/3 of elder abuse perpetrators are family members.
Problems can arise after the death of one spouse who has failed to plan or made no plans for the division and distribution of their assets, particularly if both spouses have adult children from a prior marriage.