Estate Planning

Tennessee Estate Planning Attorney – Safeguarding Your Legacy and Future

Planning for the future is one of the most important steps you can take to ensure your assets, health, and loved ones are properly cared for. Whether you are looking to establish a will, trust, or plan for healthcare decisions, an experienced estate planning attorney is essential to help you navigate the process with confidence.

What is Estate Planning?

Estate planning involves creating legal documents and strategies that dictate how your property, finances, and personal affairs will be handled upon your passing or during incapacitation. Proper estate planning ensures your wishes are honored, your loved ones are provided for, and the transfer of assets is as smooth and tax-efficient as possible.

Key Elements of Estate Planning

  • Wills: A legal document that specifies how your assets will be distributed and who will be responsible for executing your estate.

  • Trusts: A legal arrangement where a trustee holds and manages assets on behalf of beneficiaries, often used to avoid probate and provide additional asset protection.

  • Power of Attorney: A document that designates someone to make financial or healthcare decisions on your behalf if you are unable to do so.

  • Living Wills: Directives that outline your medical wishes in case of incapacitation, particularly in situations where life-sustaining treatment is involved.

Without proper estate planning, the state will determine how your assets are distributed and who makes critical decisions on your behalf. Estate planning ensures that your assets are passed on according to your wishes, avoids unnecessary delays or costs through probate, and protects your family during challenging times.

How Pehanick Law Can Help You?

  • Create Customized Estate Plans: We will work with you to design a plan tailored to your unique circumstances, needs, and goals.

  • Review and Update Existing Documents: Regularly reviewing and updating your will, trusts, and healthcare directives is essential to ensure your estate plan remains current and effective.

  • Minimize Taxes and Probate: Our expertise can help you structure your estate to reduce tax burdens and streamline the transfer of assets to your beneficiaries.

  • Designate Guardianship for Minors: If you have children, we can help you designate guardianship and ensure they are cared for in the event of your passing.

  • Prepare for Incapacity: In the event that you are unable to manage your affairs, we can help set up durable powers of attorney and healthcare directives to ensure your interests are protected.

Estate planning is not just for the wealthy; it is a necessary step for anyone who wants to ensure their wishes are followed and their loved ones are protected. Waiting too long can lead to unnecessary complications and costs. Let Pehanick Law help you create a solid plan for the future.

📞 Call (901) 552-6228 today to schedule a consultation with Attorney Joseph Pehanick

FAQs

What is the difference between a will and a trust in Tennessee?

  • A will is a legal document that specifies how your assets will be distributed after your death. It must go through probate, which can be a lengthy and public process.

  • A trust, on the other hand, allows your assets to pass directly to beneficiaries without the need for probate, offering more privacy and control.

What happens if I die without a will in Tennessee?

If you die intestate (without a will), Tennessee’s intestacy laws will determine how your property is distributed. Typically, assets are divided among your spouse, children, and other family members based on the state’s laws, which may not align with your wishes.These seemingly minor tickets are still criminal offenses and should not be taken lightly. The penalties and consequences of a traffic violation can vary greatly based on the circumstances. It may be easier to pay a traffic ticket, but paying the fine is the same as pleading guilty. This results in convictions on your driving record that can not only incur court costs, increased insurances rates, and points on your license, but they also will be used against you on future traffic violations. No matter how minor traffic tickets may seem, you need an experienced Memphis criminal defense attorney to fight them. 

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

A power of attorney allows someone you trust to make decisions on your behalf if you are incapacitated or unable to manage your affairs. There are different types, such as financial and healthcare powers of attorney, ensuring that someone can handle your finances or medical decisions if necessary.

How often should I update my estate plan?

It’s important to review and possibly update your estate plan every few years, or sooner if there are major life changes such as marriage, divorce, the birth of children, or significant changes in your financial situation.