Estate Planning Attorney in Knoxville, TN
Safeguard your assets and ensure a peaceful transfer of property to your heirs
Chances are you have worked hard for your assets and investments over the course of your life, and now you want to distribute them equitably while you still have a say in the matter. Without an effective estate plan, you risk losing control of your assets and throwing your family into confusion after you pass away. They will argue about who gets what for years and the inheritance wars will eventually be settled in court. Is that what you want?
Don’t leave your heirs fighting over your assets or let the courts have a free hand in electing an administrator to oversee the allocation of your estate. Create a plan for your estate ahead of time and anticipate problems that may arise when you’re gone. Our estate planning attorney in Knoxville can help you with the necessary legal paperwork.
Address critical issues in your estate plan
Death is inevitable. The loss can be heartbreaking, and sorrow will last for a while, but with the absence of a good estate plan, your loved ones will have to make some hard and life-altering decisions for you. Instead, prepare for what happens to your properties when you’re gone.
Though a Will makes the transfer of your estate less chaotic, it doesn’t protect your heirs from contests by other people who want a share of your assets or the ruling of a probate court. That’s where our estate planning attorney in Knoxville, TN, comes in. We’ll help you create a well-thought-out plan that will address some important points including:
- Will: your Will states who inherits your assets and who will administer your Estate, on behalf of beneficiaries when you depart. Without this signed document, the court will determine the heirs and how to distribute your assets. You can update or modify it from time to time.
- Trusts: Another key component of estate planning, a trust will ensure the confidentiality of private information, avoid probate after death, and secure your assets for your immediate heirs or other beneficiaries.
- The durable power of attorney: You should appoint a person to manage your finances or discharge your responsibilities if you were to be incapacitated. It should be someone you trust, who has your best interests at heart.
- Healthcare power of attorney: Also, appoint a trustworthy person to help you make decisions concerning your medical or healthcare if you’re unable to do so because of illness or an injury.
Consult a trusted estate planning attorney
Every successful asset transfer starts with an initial estate planning consultation. During this time, we will gather all the critical information we need to create an effective estate plan. Our attorneys will explain everything in layman’s terms and quote you a fee based on the scope of work. When you visit us for a consultation, we encourage you to bring the following:
- List of significant assets, including stocks, insurance, real estate, cash, and jewelry
- Original documents of title such as loan papers, copies of deeds, and stock certificates
- Contracts or any other legally binding documents
- Existing wills and durable powers of attorney documents
- Current bank statements and passbooks
- Lists of all your debts, especially the major ones
- Retirement income: IRAs, Social Security, pensions, IRAs
We’ll apply the cost of the initial consultation to the final cost of your estate planning package. Before you leave, we will schedule another meeting within a month where our attorneys will execute your documents.
Skilled estate planning and probate lawyers
The last thing any person wants to do is to die ‘‘intestate,” meaning, die without a will. When you die intestate, you will subject your heirs to a costly and lengthy inheritance process since no one will know the specifics of the assets or what portion an heir should get. Some of the investments such as your IRA and life cover will go directly to the listed beneficiaries.
Clients in Knoxville trust attorney Kevin Shepherd and his partners for guidance and advice on inheritance after you pass on. Through probate, we assist heirs in settling your debts and ensuring that assets are distributed accordingly upon your death. Usually, Tennessee state laws direct the probate court on how to allocate the estate of the deceased.
With a trusted probate lawyer by your side, we can simplify the process and ensure that all creditors and beneficiaries get timely notifications. We’ll also advise administrators or representatives with filing the final tax returns.
No estate is too big or too small for us to plan for. We work with clients who own modest estates and even individuals who own large complex estates, which require sophisticated estate planning techniques. Also, since we maintain good working relationships with many integral parties including accountants, financial planners, and insurance agents, you have the assurance that our strategic approach to your estate planning will yield the best outcome.
Talk to a trusted estate planning and probate attorney
Call 865-982-8060 today and speak to a friendly and knowledgeable estate planning attorney in Knoxville, TN. Our lawyers will answer your estate planning questions and guide you on all matters probate.
SHEPHERD & ASSOCIATES, P.C.
Shepherd & Associates is located in Maryville, TN and serves clients in and around Rockford, Walland, Alcoa, Louisville and Blount County.
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