An outdated estate plan can be just as disastrous as no plan at all. The Law Offices of Charles R. Frazier asks clients to consider the many life changes that could render an estate plan ineffective, including:
- Changes in a financial or marital situation
- The addition of new family members
- The loss or disability of loved ones
- Declining health
- Changes in charitable inclinations
- A change in state of residence, and annual changes in tax laws
- Annual changes in tax laws
A well-crafted estate plan can help to minimize the risk of taxing authorities becoming the unnamed beneficiaries of an estate.
It’s critical to seek the services of a probate law attorney who knows the rules and law critical to probate administration. But it’s more important that the firm offers its clients the compassion and patience necessary to deal with difficult family dynamics. If the probate lawyer cannot prevent unnecessary lawsuits, the firm needs to provide litigation knowledge and experience to handle contested probate matters.Last Will and Testament and Trust
Last Will and Testaments are necessary to ensure that your estate assets are distributed according to your wishes. Your loved ones are more likely to respect your final wishes when you leave your desires in writings that are properly executed under Tennessee law. Your Last Will and Testament may also decrease the likelihood that there will be disputes about the distribution of your assets.Power of Attorney and Living Wills
Powers of Attorney (POA) provide the assurance your family needs to ensure that your financial and health care decisions are made in the case that you are incapacitated or deemed incompetent. POAs give other individuals or entities certain powers to engage in transactions on your behalf and for your benefit. POAs are important estate-planning tools that may bypass the need for conservatorships or other expensive legal proceedings.Ready to Find out More?
For representation that can help you turn present-day realities and worries into a family legacy, turn to the Law Offices of Charles R. Frazier. To schedule a low cost consultation, call 615-267-0125.