Transcript: 00:00:00 So, a special needs trust or also known as a supplemental needs trust. You’ve probably seen these referred to as S&Ts. They are legal arrangements that allow a person with disabilities to receive income or assets without losing their eligibility for government benefits. A supplemental needs trust or...
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Transcript: 00:00:00 A pourover will is just a legal document that acts as a safety net for trust centered estate plans. The pourover will effectively transfers any assets that you might have left outside of your trust, you know, usually by accident um to your trust upon your death. The...
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Transcript: 00:00:00 If your ex will not pay the child support that has already been ordered, you can do a number of things. One, you can file a petition with the court to hold that person in contempt. And you can ask if they have the ability to pay on...
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Transcript: 00:00:00 Yes, child support in Tennessee can be modified so long as the new proposed child support order has a significant variance compared to the prior child support order in Tennessee. And what that means in Tennessee is when you run the child support worksheet, if the new order...
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Transcript: 00:00:00 You can avoid or simplify the probate process by utilizing certain tools such as joint ownership or beneficiary designations. Those methods allow you to transfer assets directly to beneficiaries or to the surviving owners um on accounts. Now, assets that are in your sole name or...
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Transcript: 00:00:00 Whether a trust can be changed or terminated depends on whether that trust is revocable or irrevocable in nature. A revocable living trust can be modified or revoked by the trust maker at any time as the name suggests whereas an irrevocable trust those are more...
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Transcript: 00:00:00 Tennessee does not impose an estate or inheritance tax for any individuals that died on or after January 1st, 2016. This was enacted by legislation in 2012, where the Tennessee legislature effectively abolished the inheritance tax in Tennessee. However, Tennessee individuals still need to be aware...
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Transcript: 00:00:00 Even after an individual dies, they will still receive bills and mail. The personal representative has the option of going to the post office or online to have the mail forwarded to their address. This is recommended because going through the individual’s mail will allow you...
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Transcript: 00:00:00 As personal representative, you are required to secure the deedants assets, including their real property and their belongings. Generally, for real property, I do recommend just making sure that any security system that’s already in place, just continue to make payments on that, making sure that...
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Transcript: 00:00:00 Generally, an executive can be paid for their work. However, I do recommend checking your local court’s requirements, the local court’s rules of the county where the deedent resided at the the time of their death just to see if they have any particular procedures or...
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