Trust Attorney in Sweetwater on YP.com. See reviews, photos, directions, phone numbers and more for the best Wills, Trusts & Estate Planning Attorneys in Sweetwater, TN.
Living Trust Attorney in Sweetwater on YP.com. See reviews, photos, directions, phone numbers and more for the best Wills, Trusts & Estate Planning Attorneys in Sweetwater, TN.
Free profiles of 7 top rated Sweetwater, Tennessee trusts attorneys on Super Lawyers. Browse comprehensive profiles including education, bar membership, awards, jurisdictions, and …
Free profiles of 8 top rated Sweetwater, Tennessee estate & trust litigation attorneys on Super Lawyers. Browse comprehensive profiles including education, bar membership, awards, jurisdictions, and publications.
The most important reasons for having a living trust include: You own property in another state. You are concerned that you might become disabled and that, as a result, you will be subject to undue influence. You want to create other trusts inside your living trust that do not require court supervision.
A trust is a legal way of holding, managing and distributing property. Every trust must have four elements: There must be someone who creates the trust, who is often called the "trustor" or the "grantor.". There must be assets, usually called the trust "corpus.". There must be someone who holds, manages and distributes the assets, ...
Consequently, when the trustor dies, this probate asset becomes subject to probate. His estate winds up in probate court anyway.
According to a study conducted by the AARP, most persons who attend these seminars are elderly or retired. These salespeople say that probating an estate—the court-supervised procedure for administering the assets of a deceased person—is expensive and time-consuming and exposes your private affairs to public view.
That’s what durable powers of attorney are for, which are much less expensive and easier to use. Some salespeople sell living trusts so they can learn what assets you own. These people will try to sell you an annuity or other financial products. They actually sell financial products for a living, not living trusts.
For most estates in Tennessee and in many other states, probate is no big deal. It goes quickly, is private for the most part, and does not cost much money.
Living trusts are much more expensive to set up and maintain than a will. Probate can often be avoided without using a living trust, by setting up "payable on death" accounts, making beneficiary designations, holding assets jointly, etc.
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You've come to the right place. If you want to structure your heirs' inheritance, a trusts lawyer can help.
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A living trust is a document that allows you to place assets into a trust during your lifetime. You continue to use the assets, but they are owned in the name of the trust. You name a trustee who is responsible for managing and protecting the assets in the trust. After your death, the assets in the trust are distributed to ...
Living trusts offer a variety of benefits, which is why they have become so popular. Living trusts allow your estate to avoid probate. By doing so you avoid the costs associated with having a will probated, but you also avoid the delay associated with probate. It can take months for a last will to be probated, but when you create a living trust, ...
You can choose anyone or even a corporation as your trustee if you prefer. If you name yourself, you will need to name a successor trustee who can step up to manage the trust after your death.
A revocable trust (one that can be altered during your lifetime) does not avoid estate taxes that are applied by your state or the federal government. A special kind of living trust called an AB trust passes assets directly from one spouse to another and avoids estate tax. Living trusts do not pass through probate, ...
Living trusts have all of your assets already placed in the ownership and management of a trust, so that should you become incapacitated, they are already being handled for you. Most attorneys do recommend you also draw up a power of attorney which will authorize someone else to make legal and financial decisions on your behalf ...
A trust is designed to function during your life and after your death. A will provides for the distribution of all of your assets upon your death. It only provides instructions for what will happen to your assets after you die.
Should I Also Have a Will? Most attorneys agree that if you create a living trust, you should also have a will. This will, sometimes called a pour over will, is your insurance. In case there are any assets left out of your trust, the will directs that those assets be placed into the trust.