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Law FAQ: What is a HEET? A HEET is a Health and Education Exemption Trust. This time of year many clients are making gifts to their children and grandchildren. They often forget that gifts in excess of the $13,000 annual gift tax exclusion amount will be subject to Tennessee gift...
Read More Continue ReadingLaw FAQ: What is negligence? What is a legal duty? (Part 2) In yesterday’s blog post, I listed the 5 basic elements for a negligence claim: duty, breach, injury, causation, and proximate/legal cause. Today’s post will focus on the first 2 elements which, for the most part, comprise the most interesting and difficult...
Read More Continue ReadingLaw FAQ: What is negligence? Negligence is the legal term for failing to exercise reasonable care and caution under a given set of circumstances. It is commonly referred to as “the ordinary, reasonable man” standard. Legal liability is assessed when a person fails to follow society’s most basic “rules of...
Read More Continue ReadingHow does Property Pass to Beneficiaries? Do you know who your beneficiaries are? When we ask clients this question, their first response is often quick and affirmative. However, we frequently discover through the estate planning process that the beneficiaries listed on our clients’ life insurance policies and retirement accounts are...
Read More Continue ReadingTennessee is NOT a Community Property State Community property states such as California and Texas, permit assets to receive a step-up in basis to the current fair market value (FMV) at the death of the first spouse to die regardless of which spouse owns the assets. Tennessee is a separate...
Read More Continue ReadingHalloween – Your Legal Duty of Reasonable Care Halloween is always a great time of year – costumes, hayrides, haunted houses, and candy! However, homeowners should be mindful of the responsibility they owe visitors to their property. Later this evening, many of you will have a variety of ghosts, princesses,...
Read More Continue ReadingLaw FAQ: My neighbor’s tree hangs over the property line. Do I have the right to cut back the branches? Yes. The Tennessee Supreme Court made clear in 2002 that you definitely have the right to cut away any branches or vegetation to the extent it hangs over onto your...
Read More Continue ReadingLaw FAQ: Can I Place My Assets in a Trust and Protect Them from My Creditors? Before 2007, if an individual created a trust under which he is a beneficiary, the assets of the trust were subject to the claims of his creditors. As a result, an individual could not...
Read More Continue ReadingAm I liable for a Car Accident Caused by my Child or Spouse? It depends! Tennessee follows the family purpose doctrine, which can result in a family member, such as a parent or spouse, being held liable for damages caused by another family member’s negligent operation of a vehicle if...
Read More Continue ReadingBreast Cancer Awareness Month: Quick Facts Breast cancer is the second most common cancer in American women, behind skin cancers. Breast cancer is the second leading cause of cancer death in women, behind lung cancer. The lifetime chance of developing invasive breast cancer is approximately 1 in 8, or 12%....
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