Best Estate Planning Lawyers in Tennessee

About Estate Planning Law in Tennessee, United States

Estate planning in Tennessee involves creating a plan to manage and distribute your assets if you become incapacitated or after your death. It typically includes legal documents such as wills, trusts, powers of attorney, and advance directives. Estate planning ensures that your assets go to the people or charities you choose, can help minimize taxes, and allows you to designate guardians for minor children or make healthcare decisions in advance. Tennessee law provides specific rules and requirements for creating valid estate planning documents, so understanding the basics can help you protect your wishes and your loved ones.

Why You May Need a Lawyer

While it is possible to draft some estate planning documents on your own, there are many situations where legal assistance is highly beneficial in Tennessee:

• You have a complex family situation such as blended families, estranged relatives, or dependent adults.
• Your estate includes business interests or real property in multiple states.
• You want to minimize state or federal estate taxes.
• You have minor or special needs children and need to ensure their care and financial future.
• You wish to create a trust to avoid probate or protect assets.
• You are concerned about potential will contests or disputes among heirs.
• Your goal is charitable giving or setting up lasting legacy gifts.
• You need guidance with powers of attorney or health care decisions.

An experienced estate planning lawyer can ensure your documents comply with Tennessee law, help prevent costly mistakes, and provide peace of mind that your wishes will be honored.

Local Laws Overview

Tennessee has specific statutes and court rules that govern estate planning and probate. Key aspects include:

• Wills - Tennessee residents must be at least 18 years old and of sound mind to make a will. Wills must be signed by the testator and two witnesses.
• Probate - Most estates go through the probate process in county courts. Tennessee allows both standard and small estate procedures depending on value and complexity.
• Trusts - Trusts can be used to avoid probate, manage property, or provide for minors and those with special needs. Tennessee law recognizes revocable and irrevocable trusts.
• Intestate Succession - If someone dies without a will, Tennessee statutes determine who inherits assets, usually starting with spouses and children.
• Powers of Attorney - Tennessee allows individuals to appoint someone to manage their financial or health decisions if they are incapacitated.
• Living Wills and Advance Directives - These documents let you spell out your wishes for end-of-life medical care, and must meet state legal requirements to be valid.
• Estate and Inheritance Taxes - As of 2016, Tennessee no longer has its own inheritance or estate tax, but federal taxes may still apply to large estates.

Frequently Asked Questions

What happens if I die without a will in Tennessee?

If you die without a will, your estate will be distributed according to Tennessee's intestate succession laws, which typically give priority to your spouse and children. Other relatives may inherit if you have no spouse or children.

Do I need a lawyer to write a will in Tennessee?

While it is not legally required, having a lawyer ensures that your will complies with Tennessee law and reduces the risk of errors that could invalidate your will or cause disputes.

How do I avoid probate in Tennessee?

You can avoid probate for some or all of your assets by setting up trusts, designating beneficiaries on accounts, or owning property jointly with rights of survivorship.

What is a living will or advance directive?

A living will or advance directive is a legal document where you specify your preferences for medical treatment if you are unable to communicate. It lets you outline your wishes for life support, resuscitation, and other critical care.

Can I change or revoke my will?

Yes, you can change or revoke your will at any time as long as you are mentally competent. Changes should be made using a formal written amendment called a codicil or by writing a new will.

Is there a state estate or inheritance tax in Tennessee?

No, Tennessee repealed its state inheritance and estate taxes in 2016. However, large estates may still be subject to federal estate tax.

What is a power of attorney and do I need one?

A power of attorney allows you to appoint someone to make financial or healthcare decisions for you if you become incapacitated. It is highly recommended for everyone as part of a complete estate plan.

How are minor children provided for in estate planning?

You can use your will to name a guardian for your minor children and set up a trust to manage their inheritance until they are adults.

What is the difference between a revocable and irrevocable trust?

A revocable trust can be modified or canceled during your lifetime, while an irrevocable trust generally cannot be changed after it is created. Each serves different estate planning goals and has different tax implications.

How often should I update my estate plan?

Review your estate plan every three to five years or whenever you experience a major life event, such as marriage, divorce, birth of a child, or significant changes in assets or the law.

Additional Resources

If you are seeking more information or assistance with estate planning in Tennessee, the following resources may be helpful:

• The Tennessee Bar Association - Provides legal information and referrals to qualified estate planning attorneys.
• Tennessee Department of Human Services - Offers guidance and resources for end-of-life planning and guardianship.
• Local county probate courts - Can provide probate and estate administration forms, filing procedures, and information on local rules.
• Legal Aid of Tennessee - Offers free or low-cost legal help for eligible individuals in matters related to wills, guardianship, and advance directives.
• Senior centers and community organizations - Often host free estate planning workshops and provide counseling resources.

Next Steps

If you believe you need legal assistance with estate planning in Tennessee, consider taking the following actions:

1. List your assets and think about your goals for your estate.
2. Consider your family circumstances, including minor children or family members with special needs.
3. Research or gather recommendations for experienced estate planning attorneys in your area.
4. Schedule a consultation to discuss your situation and learn about your options under Tennessee law.
5. Work with your attorney to draft documents that reflect your wishes and comply with legal requirements.
6. Review your estate plan periodically and update it as needed to ensure it remains accurate and effective.

Proper estate planning protects your interests, prevents confusion, and gives your loved ones clear guidance. Consulting with a knowledgeable Tennessee attorney is the best way to ensure your legacy is handled as you intend.