Brentwood Estate Planning And Business Law Blog

You will always love your kids, but that does not mean that you must trust them. When children grow into adults, they sometimes go their own directions. Some adult children never develop good money management skills. They may spend money as soon as they receive it, they may have significant debts or they may use their money to feed unhealthy addictions like drugs or gambling.

If you have a child who is less than financially savvy, you may have concerns about allowing him or her to inherit some of your wealth. However, there is a way to pass on your assets while protecting your child from himself or herself.

A will is a foundational and do-this-first document in virtually every individual’s estate plan.

We underscore that key point at the proven Middle Tennessee estate planning law firm of Russ Cook & Associates. We stress on our firm’s website that a well-executed will is a “cornerstone” legal instrument for most individuals and families attending to vitally important estate planning matters.

The relevant details surrounding an existing bank account are likely to be pretty clear when it comes time to administer a given estate.

How about that pricey art collection hanging on the walls of a Tennessee home, though? What about a vast horde of antiques that have been in the family for generations? Coin and stamp collections, a vintage assortment of rifles long held as collectibles, fine jewelry: How will such assets be valued and accounted for during the estate administration process?

The deep legal team at the Nashville-area law firm of Russ Cook & Associates commands decades of experience advising diverse commercial clients across the virtual universe of business considerations.

We note on our firm's website that our established representation of business owners, medical professionals, entertainers and myriad other clients reveals a fundamental point.