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In Media

What assets go through probate, and what avoids it? – Patterson Bray PLLC

This transcript was auto-populated. Transcript: The only assets subject to probate are assets in the individual’s sole name or payable to their estate. Other assets, jointly held assets pass automatically to the surviving joint owner at the individual’s death. Doesn’t matter what your will says or if you have...

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In Media

What is probate? – Patterson Bray PLLC

This transcript was auto-populated. Transcript: Probate is a court supervised process of administering an individual’s assets after they pass. Probate is initiated in the county where the individual resided at the time of their death by filing a petition to open their estate and appoint a personal representative. The...

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In Media

What if my spouse moves out of state? – Patterson Bray PLLC

Transcript: 00:03 if your spouse moves out of state and you are contemplating a divorce you can still file your divorce in Tennessee regardless of the fact that they have moved Tennessee takes jurisdiction over a divorce matter so long as both parties have resided in Tennessee for six months...

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In Media

What is a prenuptial agreement? – Patterson Bray PLLC

Transcript: 00:03 a prenuptial agreement in Tennessee is a contract between two parties that are intending to get married that divides their assets and liabilities and other marital obligations to one another in the event of death or divorce and what I mean by that is when you get married...

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In Media

What is the difference between a will and a trust? – Patterson Bray PLLC

Transcript: 00:01 [Music] a will and a trust are both estate planning vehicles that facilitate the transfer of your assets upon your death for example a will is only effective upon your death a will typically requires probate probate is just a court supervised process where a court deems a...

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In Media

What’s the difference between a revocable and irrevocable trust? – Patterson Bray PLLC

Transcript: 00:01 [Music] a revocable trust is a flexible trust meaning that it is amendable modifiable revocable you can make changes to it during your lifetime because you retain so much control over a revocable trust you do not enjoy protection from your creditors or any lawsuits your assets 00:27...

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In Media

What is a living will, and how does it differ from a regular will? – Patterson Bray PLLC

Transcript: 00:01 [Music] a living will is also known as an advanced directive it is limited to medical decisionmaking and allows you to communicate your specific preferences regarding life support feeding tubes and organ donation whenever you are unable to state those preferences on your own 00:21 last will in...

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In Media, Uncategorized

How are retirement accounts divided? – Patterson Bray PLLC

\ Transcript: 00:01 [Music] retirement accounts can be divided a number of ways in in a divorce In dividing retirement accounts or a home or any other asset it’s important to remember that not everything is exactly split 50/50 What we like to do in Tennessee is to value all...

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In Media

What happens to our home in divorce? – Patterson Bray PLLC

Transcript: 00:03 there are a number of ways a court or the parties through an agreement can handle how to deal with a marital residence in a divorce a lot of folks that come to see us have one home and they have a question of who’s going to get...

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In Media

What’s the difference between contested and uncontested divorce? – Patterson Bray PLLC

Transcript: 00:00:03 difference between a contested and an uncontested divorce in Tennessee is two things. One, traditionally an uncontested divorce is where neither of you are contesting the grounds. And so you go through what we call an irreconcilable differences divorce process where the two of you do not contest...

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