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Estate Planning And Divorce Let’s talk about Estate Planning and Divorce. Will a divorce affect your Will? Over the years, many people have asked us about how a divorce will affect a Will or Estate Plan. Sometimes the question comes out of curiosity, and at other times, the person asking...
Read More Continue ReadingNo More Tennessee Inheritance Tax As of January 1, 2016, the Tennessee inheritance tax is repealed. What this means is that families of persons who pass away in 2016 or later will not owe any Tennessee inheritance taxes. Looking forward, estate planning in Tennessee, in many cases, will be simplified...
Read More Continue ReadingThe Knowledge You Need on the Tennessee Investment Services Act of 2007 The “Tennessee Investment Services Act of 2007,” (the “Act”) allows a person to create a self-settled asset protection trust. Tennessee is still one of only a handful of states to enact legislation permitting the creation of a self-settled, or...
Read More Continue ReadingGun Trusts: Feinstein’s Bill Addresses Handguns Too. According to the Washington Post, Senator Feinstein’s gun control bill not only seeks to severely restrict the sale and transfer of modern sporting rifles, but also “prohibits the sale or transfer of high-capacity, ammunition-feeding devices currently in existence” – a clear reference to...
Read More Continue ReadingAmerican Taxpayer Relief Act of 2012 Happy New Year! We hope this finds you having enjoyed a joyous and relaxing holiday season. As you may know, on Wednesday, January 2, 2013, the President signed into law the American Taxpayer Relief Act of 2012. The new law contains some favorable provisions...
Read More Continue ReadingLegal Problem Solving: Does Your Lawyer Merely Work the Problem? Or Solve the Problem? Let’s discuss legal problem solving. Does your lawyer merely work the problem, or solve the problem? There’s a difference, you know. A cookie-cutter response vs. a creative solution Reaction vs. a plan of action “Winning” the...
Read More Continue ReadingChange to the Tennessee Inheritance Tax Proposed Governor Bill Haslam and Republican leaders in the state legislature have proposed changes to the Tennessee Inheritance Tax as discussed recently in an article in The Tennessean. The current Tennessee Inheritance Tax Exemption amount is $1 million with inheritance tax rates ranging from...
Read More Continue ReadingToo Many Cooks in the Kitchen There are a lot of different phrases and slogans to describe a situation where you have too many people in charge. Democracy may be preferable in some situations, but your estate plan is often not one of those situations. People often tell me they...
Read More Continue ReadingReminder: Estimated Tax Payments due Jan. 17 (for self employed persons, etc.) For all you estimated tax filers, here’s a friendly reminder that your next payment (using Form 1040-ES) is due next Tuesday, January 17, 2012. (The ordinary deadline of the 15th is extended because the 15th falls on a Sunday,...
Read More Continue ReadingLaw FAQ: What is Digital Estate Planning? Death in the digital age is a lot more complicated than it used to be. In the past, it was easy to search paper records and watch the mail for bills and account statements to gather information about an estate. It’s not so...
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