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Using a QTIP Trust in Estate Planning

Posted by Nina Whitehurst | Dec 18, 2023 | 0 Comments

Estate planning is crucial when managing valuable assets and ensuring the smooth transfer of wealth to future generations. There are various types of estate planning tools available, some of which may be more useful depending on your circumstances. For some, a qualified terminable interest prop...

6 Ways the Sandwich Generation Can Plan for The Future

Posted by Nina Whitehurst | Nov 27, 2023 | 0 Comments

Anyone experiencing the struggle of simultaneously caring for children and aging parents is part of the sandwich generation. Although “generation” is part of the phrase, it doesn’t refer to people born at a specific time. Typically, these family caregivers will be in the 30- to 40-year-old age range, providing for their families and balancing care duties between the needs of children and parents.

After a Dementia Diagnosis: Preparing for the Future

Posted by Nina Whitehurst | Dec 23, 2022 | 0 Comments

A diagnosis of dementia, a category of diseases affecting memory and thinking that includes Alzheimer’s disease, can feel overwhelming and upsetting. You might worry that you will lose control over your life and ability to make your own decisions. Fortunately, receiving a diagnosis of dementia or Alzheimer’s does not mean that you cannot execute legal documents or make decisions about plans for your future finances and health care.

Beware of Trust Mills

Posted by Nina Whitehurst | May 05, 2021 | 0 Comments

I review a lot of existing estate plans, and I see a lot of estate plans that are terrible and beyond repair. Why? Sometimes the reason is they were created by a "trust mill".

A Letter of Instruction Can Spare Your Heirs Great Stress

Posted by Nina Whitehurst | Sep 02, 2020 | 0 Comments

A letter of instruction is a legally non-binding document that gives your heirs information crucial to helping them tie up your affairs. Without such a letter, it can be easy for heirs to miss important items or become overwhelmed trying to sort through all the documents you left behind. The following are some items that can be included in a letter:

Who Owns Funds Held in a Tennessee Multi-Owner or Joint Account After One of the Account Owners Dies?

Posted by Nina Whitehurst | May 11, 2020 | 0 Comments

This question comes up a lot, but usually after one of the owners has died, unfortunately. I write "unfortunately", because more often than not result is not what the true account holder intended, and this results in a lot of family strife at a time when stress levels are high. The answer to this question is, as usual, it depends. Tennessee law is very clear on this, but usually when people open these types of accounts aren't particularly clear on what it means. Here are the options that the bank should offer you when you are opening an account in the names of two or more persons (or adding a person to an account formerly held by only one person) and what each option means:

The First Steps Towards Enjoying Your Golden Years

Posted by Nina Whitehurst | Mar 09, 2020 | 0 Comments

Although some people are under the impression that things like planning an estate or creating a trust are for those with a lot of money and property, this is completely untrue. An estate planning attorney can assist you with creating basic but essential documents, including healthcare directives and a power of attorney which everyone, regardless of financial status, should have.

Crossville, Tennnessee Will and Trust Lawyer Discusses Estate Planning for First Responders and Law Enforcement

Posted by Nina Whitehurst | Feb 10, 2020 | 0 Comments

People have many reasons why they put off estate planning. Maybe they’re young and healthy and don’t think they need to worry about that any time soon. Others find the whole idea uncomfortable, the idea of death and what would happen to their loved ones. But no matter where you are in life, you should have your estate plan in place. This applies especially to first responders and law enforcement.

DIY Estate Planning Mistake #11: Forgeting About the Car

Posted by Nina Whitehurst | Nov 15, 2019 | 0 Comments

I answer a lot of "Ask A Lawyer" questions online. Here is one that came up recently (slightly edited for spelling and grammar): "My mom moved from GA to NC with me. We recently went to get a new license plate for her but we could not because the title of her car had her name and her deceased husband's name on it with no "and/or" beside the name. The plate office told us to go to the clerk of court with a will and death certificate. When we got to the clerk of court they told us we had to go to GA as the title was in GA. However, we are a minimum of 4 hours from GA. Is there anything else we can do switch the title without taking a long trip?"

Five Estate Planning Myths

Posted by Nina Whitehurst | Nov 11, 2019 | 0 Comments

There are lots of misconceptions about estate planning, and any one of them can result in costly mistakes. Understanding who needs an estate plan and what it should cover is key to creating a plan that is right for you.

WILL HE SPEND IT ALL ON LEGOS AND ICE CREAM?

Posted by Nina Whitehurst | Oct 28, 2019 | 0 Comments

Sometimes the most loving thing you can do is protect children and other loved ones from themselves. You might want to make sure that your children are financially secure during their lifetime or that your nephew’s education is paid for. Whatever your goals are, a proper estate plan can put provisions in place to make sure your loved ones are provided for, rather than having their inheritance squandered on a Ferrari, seized by a creditor, or given to an ex-spouse during a divorce.

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