Our Will services make sure that all of your final wishes are encapsulated in a safe and secure legal document.
There are many types of wills that our experienced attorneys can recommend based on your unique set of circumstances.
A will is a powerful legal document that articulates your final wishes concerning essential matters such as the care of minor children, how your belongings will be distributed, and more.
Without a will, the state and court system will make decisions regarding your estate. A written, witnessed will prepared by an experienced wills lawyer is one of the best ways to protect the legacy you’ve built.
There are many different aspects of the estate planning process that our attorneys are intimately familiar with. We’ll discuss your unique situation and help create a custom roadmap to ensure your wishes are always upheld.
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Of the many estate planning options available, wills are one of the most commonly known legal documents. Even though most have heard of wills, less than half of all Americans actually have one in place.
There are tremendous advantages to having a will in place. Spelling out your final wishes helps to make a plan, avoid ambiguity, and ensures your loved ones are looked after.
Legal tools like a will are part of a comprehensive estate plan help us create your ideal tomorrow. At Will Gurus, we laser-focus on wills and trusts to secure our clients’ legacy.
We serve clients in Knoxville and the surrounding area. Start the process by contacting us at (865) 666-6175 to schedule a no-obligation conversation with an experienced wills attorney today.
If you do not have an estate plan, including a will, then it will be considered dying “intestate.” There are laws in each state for when you die “intestate.” However, it is not smart to assume these laws and think that most belongings will go to the spouse since it is not always what will happen.
Generally, if there is a spouse and no children, the spouse will inherit the entire estate. If you have children, but no spouse, then most likely, your children will inherit the estate equally. If there are both children and a spouse, there is a division between the two which can vary depending on certain factors. Further, the state will look towards your other relatives if there are neither children nor a spouse.
Due to the existence of various heirs/beneficiaries, there can be some confusion about who gets what. In addition, the distribution of assets to specific beneficiaries may also cause issues for them, such as eligibility for state benefits.
After discussing your situation with an estate planning attorney, it is wise to create your own plan. This way, you do not need to worry about whether the state’s plan is the same as yours. We are happy to answer your call and any questions you may have.
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Going forward with an entire estate plan to have all your bases covered is a good idea. Although a will is a valuable tool for when you pass away, it cannot address what will happen if you become incapacitated. Since medical issues commonly arise as we age, having guidance is extremely helpful for your family.
Another consideration is a will may not be able to always protect your assets in the best manner either. A will usually does require your family to go through the probate process, which could expose your estate to more taxes and creditors. Although there could be some benefits to the probate court, it can also cost your loved ones additional time and money.
It is best to speak with an estate planning attorney to determine your best course of action. We would be happy to discuss what documents would be helpful for your and your family’s future. Contact us to get started today.
When a person creates a will, they must have the mental capacity to make it, which is referred to as a “sound mind.” Some questions can be asked to determine if the person or “testator” has the capacity.
The first question is did the testator know the nature and consequences when they created the will. The second question is if the testator knew the extent and nature of the property within the will. The third question is whether there is any concern about a disorder that would affect the mind or cause insane delusion to the testator. Lastly, is whether the testator is aware of the relationship between themselves and the beneficiaries they list in the will.
If there are any issues with the answers to these questions, then there is the potential to challenge the will. However, it is the job of the person challenging the will to prove these issues.
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A “personal representative” is also known as an executor. A personal representative is a person you choose to carry out the terms of your will. They are in charge of talking with heirs, making sure outstanding debts are paid, and then distributing the remaining assets to any beneficiaries in the will.
Essentially, the personal representative or executor is a helper and the person the court looks to ensure your estate is settled correctly. Contact us for more help.
You can always make adjustments to your will if a situation arises that requires change. Throughout life, events naturally happen that can cause this need, such as divorce, remarriage, death, starting a business, or additional children.
There are proper ways to change the will to ensure everything will still be upheld when you pass away. For example, you can write a new will or make an amendment with a codicil.
When you create a new will, you want to ensure you address the revocation of the old will and/or physically destroy the old one and any copies. This helps avoid any challenges that may come up. A codicil is an additional document created that addresses the changes that need to be made or any supplemental information that needs to be added.
Creating a new will may be more simple than having a codicil drafted. Creating a codicil adds another document that needs to be looked after and causes concern about one document being separated from the other.
Please call us today if you need to make updates to your will.
When you pass away, your personal representative must take steps to have your will executed or processed with the court. The first step they should do is to contact an attorney to help them through the probate process. This will help make things go more smoothly.
The will should be filed in probate court and any other paperwork the court requires to open a probate case. Assets, beneficiaries, and creditors should all be identified to cover everything. In addition, the personal representative may need to establish a bank account for the estate.
The personal representative should keep an accounting of all actions taken, including paying any debts and making distributions to the beneficiaries. Further, having active and complete communication with the probate court is essential.
We know the probate process can be overwhelming. Don’t hesitate to get in touch with us today to see how we can help.
Going forward with an entire estate plan to have all your bases covered is a good idea. Although a will is a valuable tool for when you pass away, it cannot address what will happen if you become incapacitated. Since medical issues commonly arise as we age, having guidance is extremely helpful for your family.
Another consideration is a will may not be able to always protect your assets in the best manner either. A will usually does require your family to go through the probate process, which could expose your estate to more taxes and creditors. Although there could be some benefits to the probate court, it can also cost your loved ones additional time and money.
It is best to speak with an estate planning attorney to determine your best course of action. We would be happy to discuss what documents would be helpful for your and your family’s future. Contact us today to get started.
Every state has requirements for a will, which may vary, so it is important to ensure you know the requirements of the state you live in. In Tennessee, you may make a will if you are 18 years or older and of sound mind.
The law also requires that you have at least two witnesses to the signing of the will. They should be 18 years of age or older and of sound mind. Although a will may not be invalidated by this, it is wise for these witnesses to be “disinterested witnesses,” meaning they will not inherit from the will. The witnesses should sign in the presence of each other and the person creating the will, also known as the “testator.”
The best action is for the testator to sign the will in front of the witnesses. Although they may also sign ahead of time and then acknowledge the signature to the witnesses or have someone else who is present sign on their behalf at the testator’s direction.
We would love to walk you through the process and help you get your will and estate plan in order. Call us today.
There is always a potential for a will to be challenged. If a will is created with a lot of ambiguity or is not executed properly, this can open a door for a challenge. In addition, if someone makes more than one will over time, this can create many issues if the old ones are not correctly handled.
Generally, you need to be an “interested person” to challenge the will, such as being a beneficiary of the will, a previous will, or a creditor to the testator. This “interested person” can challenge the will if it does not comply with state laws, is ambiguous, or a new will exists. Further, the will can be challenged if there is evidence of undue influence or fraud on the testator, a lack of mental capacity, or examples of insane delusions from the testator.
Please contact us today to ensure that you have a valid will created. This can prevent will challenges and allow you to rest easy, knowing there will be no issues for your family when you pass away.
Tennessee has some requirements regarding who you can list as a personal representative/executor in a will. For example, you cannot name a person as a personal representative if they were convicted of a crime and imprisoned.
Another restriction is that you cannot name a judge as your personal representative unless they are a family member. Plus, their judicial duties can not be compromised if they take on the role.
As long as you address the above requirements, you can name any adult as the personal representative. You can even name a bank or trust company as the executor, but there are some requirements for the route. Lastly, it is strongly recommended that the personal representative live near you due to the activities the job requires and certain requirements on out-of-state individuals.
Please contact us for further questions.
One of the most critical steps to take when you have a will created is to be mindful of its safekeeping. The original and any copies made should always be kept in a safe place. This could be a lockbox or a safe deposit box at a bank. It is a good idea for the original and the copies to be kept separately in their safe places and for the copies to be marked as such.
The personal representative and any successor personal representative should be told where the documents are being kept and the key’s location if there is one. They will need to quickly access this document when the time comes. If you provide a copy to a person, make sure that it is someone you trust explicitly.
Contact us today to get started.
Estate planning can be intimidating.
Not only are you forced to think about what happens when you die, but you also have to make potentially family altering decisions.
That’s where having a solid estate plan in place today can create peace of mind for whatever tomorrow brings.
Contact Will Gurus today to learn about your estate planning options.
A few of the benefits of wills include:
What happens to your children if you and your spouse pass away? Your will can help identify who you feel is qualified to care for your children in the event of your death.
We can help you spell out where and how your assets are distributed. Property, vehicles, bank accounts, family heirlooms, and more can be clearly designated to your heirs.
Your will can help expedite the probate process to alleviate some of that burden on your loved ones.
Death, unfortunately, causes conflicts in many families. Your will can help avoid disputes by clearly articulating your last wishes.
Most law firms handle estate planning with a one-and-done approach. But the fact is, life keeps changing after you finish your estate plan. You might have more kids, find a new spouse, or even buy that dream car you’ve been wishing for.
At Will Gurus, we make it our focus to build on-going relationships with our clients and be there not just in the now, but in the future. Contact us at (865) 666-6175 to schedule a free no-obligation consultation today.
Many people know they need an estate plan but are unsure where to start or what elements to include. Our process always begins with a one-on-one conversation with an experienced wills attorney.
The initial conversation is performed at no cost to help see where we can provide the most significant benefit given our clients’ unique needs. Understanding your vision for tomorrow, we’ll recommend which tools would best provide the framework to make that happen.
You get to remove this burden from you and your family. We ensure all of the necessary legal mechanisms are in place so that you don’t have to worry about the what-ifs tomorrow may bring.
If your situation changes, we are always here to help tailor your estate plan to best suit your needs.
Contact us at (865) 666-6175 to schedule a free no-obligation consultation today.
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