Estate Planning Lawyers You Can Trust
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We Help East Tennesseans with Estate Planning
What is Estate Planning?
Defined simply, estate planning “involves determining how an individual’s assets will be preserved, managed, and distributed after death” (Investopedia). It involves important decisions that everyone should have a plan for, regardless of their assets to decide the distribution of your estate once you pass away, or if you are incarcerated. It can lead to tough questions, such as:
- How do you want your assets to be distributed if you die?
- Who will make decisions for you if you can no longer make those decisions for yourself?
- How will your children and/or beneficiaries be protected if something happens to you?
Do I Need an Estate Planning Lawyer?
When you create a will, a lawyer equipped with estate planning skills can help you organize other ancillary documents, such as ones for:
- Power of attorney for healthcare
- Power of attorney for financial and business decisions
- Organ donor certifications
- Advance care plans (living will)
Regardless of your estate’s size, you need to have the basic estate planning documents in place, and a skilled lawyer can outline your goals and address your concerns each step of the way.
Questions to Consider
- What things do you own?
- Do you own them with a spouse or partner?
- Do you own a business?
- Do you have investment accounts?
- Do you have life insurance? CDs? IRAs? 401(k)s?
How Does Estate Planning Account for My Family’s Needs?
Once you understand what’s in your estate, the next step is to think about how to protect it and your family after you’re gone:
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Do you have enough life insurance? Life insurance is vital for matters like paying off a mortgage, leaving money for your spouse and children to live off of, and having enough money for your children’s college education.
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If you have children, then your will should name a guardian for them and a backup guardian, just in case. This can help avoid costly family court fights that could drain your estate’s assets.
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Document your wishes for your children’s care. Don’t presume that certain family members share your child-rearing ideas and goals or that a judge will abide by your wishes if the issue goes to court.
Establish Your Estate Planning Directives
A complete estate plan includes the necessary legal directives:
Trust
A trust might be appropriate. With a living trust, you can designate portions of your estate to go toward certain things while you’re alive. If you become ill or incapacitated, your selected trustee can take over. Upon your death, the trust assets transfer to your designated beneficiaries, bypassing probate (the court process that may otherwise distribute your property).
Advance Care Plan
An advance care plan details your wishes for medical care if you become unable to make those decisions yourself. In contrast, a durable power of attorney for health care gives your designated agent the authority to make health care decisions if you can’t.
Financial Power of Attorney
A durable financial power of attorney for financial and business affairs allows someone else to manage your financial affairs if you are medically unable to do so. Your designated agent can act on your behalf in legal and financial situations, such as paying bills and managing your assets.
Durable Healthcare Power of Attorney
A durable healthcare power of attorney allows someone else to manage your healthcare decisions should you become incapacitated and unable to make those decisions for yourself.
Experience Makes the Difference
Estate Planner Lawyers of Bullock Law Firm
If you need help with estate planning, then you’ve come to the right place! Bullock Law Firm has the expertise and knowledge to provide you with quality legal support at an affordable price. We are the go-to source of probate administration in Campbell County, Scott County, Claiborne County, Hamblen County, Knox County, Anderson County, and the surrounding areas around Norris Lake.
We can handle all kinds of estate planning matters and can provide you with some of the most effective and efficient legal representation possible. The experience and skills of our probate lawyers allow us to solve the most complex estate and legal matters efficiently. Adam Bullock is a go-to source for people solving probate estate issues on Norris Lake. We also offer services related to Trusts and Probate.
Get FREE Case Evaluation by Calling (423) 456-3000 & Asking for Adam Bullock!
Free Case Evaluation
Fill out this form or call (423) 456-3000 to speak directly to our team and schedule your free consultation concerning any legal questions you may have.
Areas We Cover
- LaFollette
- Jacksboro
- Caryville
- Oneida
- Huntsville
- Knoxville
- Clinton
- Oak Ridge
- Maynardville
- Morristown
- Dandridge
- Tazewell
- New Tazewell
- Wartburg
- Madisonville