For some people, estate planning can be more complicated than simply drafting or revising a will. At Patton & Pittman, our attorneys are experienced in creating trusts and family limited partnerships for families throughout the Middle Tennessee area. Please contact us to schedule a free initial consultation to discuss your estate planning needs.
If you have a taxable estate, then a trust can be an excellent estate planning tool to reduce the size of your estate and in some instances to avoid the probate process altogether. There are many types of trusts that can be used to meet specific needs or purposes, including:
If an adult is incompetent and does not have a durable power of attorney, then a conservatorship may be necessary. A conservatorship will allow someone (usually a family member) to make both financial and health care decisions on behalf of the disabled person.
Conservatorships are generally for the person and for the estate (money, property, and other assets) of the disabled individual. A petition is filed and the judge appoints an attorney to serve as a guardian ad litem, who investigates whether or not the proposed ward is really in need of a conservator. Conservatorship petitions are generally granted with a family member being appointed, who is required to make an annual accounting with the court and prepare a status report to advise the court of the ward's condition. If the conservatorship is for the estate of the ward, the conservator must also prepare a property management plan, which is submitted to the judge for approval. A conservatorship of the person allows the conservator to determine the living arrangements of the ward and to make health care decisions on behalf of the ward.
Contact Our Tennessee Trust and Conservatorship Lawyers
Call 931-266-4703 or toll free at 866-936-9758, or contact us online to arrange a free initial consultation with our Clarksville trust and conservatorship lawyers.
At Patton & Pittman, we will help you choose the most appropriate trust to meet your goals. If you have been appointed as a trustee, we will also advise you of your obligations to ensure you properly perform your duties as trustee.