Every Family Should Have an Estate Plan
Estate planning is not only for the very wealthy. A basic plan is inexpensive and covers all members of the family — you, your spouse, and your children. It gives you control of how your assets pass to your heirs and guides your loved ones if you become incapacitated by an accident, illness, or mental disease.
Patton & Pittman of Clarksville, Tennessee, provides estate planning services for clients throughout Montgomery County and the surrounding counties of Tennessee, including family businesses and military personnel stationed at Fort Campbell. Call today at 931-266-4703 (in Clarksville) or toll-free at 866-936-9758 to arrange a consultation with an experienced estate planning lawyer.
Estate Planning Essentials for Tennessee Families
We provide an estate-planning package that is detailed to your needs and wishes:
- A simple will to declare who inherits your estate(without a will, the state distributes your assets by a preset formula — intestate statutes)
- Durable power of attorney, appointing a trusted person to handle your affairs when you are incapable of doing so
- Health care power of attorney to make medical decisions on your behalf, including a living will regarding life support measures
- Appointment of guardians and trustees for your minor children
Most of our clients do not have enough assets to worry about triggering state or federal estate taxes. We can work with you to establish a family limited partnership that allows assets to pass directly to heirs without passing through probate. A family limited partnership is also an effective method of limiting estate tax exposure if your family is concerned about the size of the estate. When a family limited partnership will not achieve your goals, we are available to establish various types of trusts to help manage assets while you are alive and bypass probate hassles for your heirs.
Our estate planning lawyers work closely with a network of other professionals, such as Certified Public Accountants (CPAs) and financial advisors to ensure your estate plan achieves your financial needs.
It's Never Too Soon
If you have recently gotten married or had a child, then it is certainly time to sit down with an attorney and consider your estate planning options. You do not need to be near retirement to consider estate planning. Tragedy can strike at any age, and having these protections in place gives you peace of mind that your wishes will be honored and your family taken care of if something should happen to you.
Estate Planning for Military Families
Military personnel are often provided generic estate planning documentation to complete by their employer. However, these generic military wills are not tailored to the laws of a specific state and frequently can cause problems for family members if these estate planning documents are ever needed in the future. It is important for military personnel to consult an estate planning lawyer to ensure the estate plan complies with state requirements and is tailored to their specific needs. Your life is not like everyone else's — why should your estate plan be?
Attorney Chris Pittman has published an article on the importance of effective estate planning. View Mr. Pittman's article on estate planning.
Our law firm has experience guiding families through Tennessee probate and estate administration procedures when a loved one has passed away. Let us handle this burden during your time of need.
Call our Clarksville office at 931-266-4703 (in Clarksville) or toll-free at 866-936-9758, or contact us online to arrange a free initial consultation to discuss your estate planning needs with attorney Chris Pittman or attorney Nathan Hunt.
