Tennessee Law Firm Guides Clients through Essential Estate Planning Tools and More
Making sure your wishes are covered when the unthinkable happens
Estate planning can be a difficult topic for some families, and the complexity of estate planning laws can make it even more intimidating. At The Nevin Law Firm, our father-son legal team understands that this is a sensitive subject. We approach every client on an individual level, recognizing that the estate planning needs of each client are different. The estate planning essentials that we set forth for our clients are truly tailored to their specific circumstances and legal needs. Our expertise ensures that your wishes are covered.
The Nevin Law Firm helps you determine the essentials for your estate plan
Before our estate planning professionals suggest or recommend certain tools, we take the time necessary to fully understand your estate planning needs and goals. In our one-on-one conversations with you, our Nashville estate planning attorneys guide you through a number of points that help us truly create an individualized plan. Topics that you can anticipate discussing with us include:
- To whom do you wish to leave assets—A key factor in selecting appropriate estate planning tools is determining whom you would like to receive your assets and property, either upon your death or before. Based on your answers to this question, The Nevin Law Firm employs strategically selected estate planning tools.
- What assets do you have and wish to leave—Every client works hard for the assets and property they have amassed, and our father-son legal team works hard to ensure that tax implications and penalties do not substantially impact what you are able to leave your loved ones. Essential estate planning tools differ depending on a client’s asset level and property holding, but whatever the worth, The Nevin Law Firm understands that every client’s possessions are invaluable.
- At what point in time do you wish to give these assets—It is not necessary to wait until the time of your death to pass along assets to your loved ones or organizations of your choice. In some cases, you may wish to make such a transfer while you are still alive, and where this is the case, our skilled attorneys select planning tools to advance these goals.
What are some of the essential tools that I should consider in the course of my estate planning?
Every client differs in terms of which tools comprise an essential part of their estate plan, but there are certain, fundamental tools that everyone should have in place:
- Will—The will is the basic and most familiar estate planning tool. It is absolutely imperative that you have a will in place, because without these instructions for dividing your property and assets upon passing, courts must make this determination based on established laws—and with no regard to your wishes or the specific circumstances of your situation.
- Power of Attorney—While sometimes an overlooked component of estate planning, establishing a power of attorney is nevertheless an essential part of anyone’s estate plan. A power of attorney is a legal document that designates who is to be responsible for making decisions on your behalf if/when you become unable to do so. Without a power of attorney, you and your loved ones can face a potentially lengthy, costly, and contentious court process to establish this legal power.
In addition to these fundamentals, there are additional estate planning tools that may be an essential part of your overall plan, such as trusts, conservatorships, and guardianships. Whether or not these and other available tools would be of benefit to you depends on a number of factors, including asset level, property withholdings, your family situation and the special needs of certain members, and your wishes for your estate.
Let The Nevin Law Firm empower you with
estate planning essentials, not excess
The skilled attorneys at The Nevin Law Firm leave no stone unturned in exploring which estate planning tools are best suited for your situation, but you can trust that we do not recommend unnecessary processes or tools that are simply designed to drive up costs. Come by our office to begin crafting your plan—we are conveniently located in downtown Nashville, across from the Old Historic Courthouse and easily accessible by public transportation. Call us today to schedule your appointment, at (615) 244-7708. We accept debit and credit cards and payment plans are available.