ESTATE PLANNING: BUSINESS, FAMILY & PERSONAL

Visit us for tips to make and keep your estate planning, wills, trusts, real estate, and business succession planning up-to-date. Topics on everything from delegating health care and financial decision-making authority during disability and other family/medical-related issues, to current state and federal tax laws that should be considered when forming or managing a family business.

Don’t Forget Income Tax Planning When Drafting Your Estate Plan

Because of Tennessee’s repeal of the State Gift Tax and the pending repeal of the State Inheritance Tax after January 1, 2016, you may have overlooked tax planning opportunities that exist in your current estate plan. A resident of Tennessee, or any other state, must still keep in mind and ...

POWER OF ATTORNEY DOCUMENTS – Why Everyone Needs Them

Statistics show that we are living longer than previous generations and that we are more likely to experience a disabling mental or physical condition prior to our death. Appointing someone to manage your financial and medical affairs during such disability with a Durable Power of Attorney can avoid the need ...

Business Succession Planning—Don’t Let Tennessee Run Your Business!

According to Forbes Magazine in 2013, only 1/3 of family businesses successfully make the transition to the second generation. Don’t let your family business join the 2/3’s that fail. With a few easy steps, you can plan for a smooth and successful transition from one generation to the next. The ...

Hall’s Income Tax Exemption Amended – Law Passed May 18, 2015

The only income tax assessed in Tennessee is the Hall’s Income Tax, which is a 6% tax on earnings from stocks and bonds. Most folks who are subject to the Hall’s Income Tax have been watching and waiting for the Hall’s Income Tax to be either modified or outright repealed, ...

Elder Abuse – What to Look For and How to Help

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. If you suspect that an elderly ...

Blended Family Issues in Estate Planning – Yours, Mine, and Not Your Kids

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. For instance, bank accounts and or deeds to real estate interests that are ...