In many circumstances, when people die, they intend for their children to inherit their belongings. In fact, they may believe this happens automatically and that the children can simply move into their homes and take possession of their belongings. This rarely happens unless an estate has been carefully and legally prepared before someone's death. The deceased's property must pass through estate administration before heirs can claim it, and if the deceased left behind any debt, those creditors get first consideration.
Estate administration includes dealing with debt
Entertainers need to attend to their estates
"It's easy to make a million dollars, but hard to hold onto a dollar." - Nashville saying
Estate planning can now include long-term care for pets
When planning their estates, many people are careful to provide for their spouses, children and other loved ones. Some may remember to include their alma maters or a special charity. Additionally, it is becoming more common for pet owners to make stipulations about their animal companions in their estate planning.
Estate planning can save time and money in Tennessee
There are few things that people in Tennessee or elsewhere like to think less about than their own death. It is a subject that few seek to discuss and many try to avoid. This can be a mistake, says one recent report, especially for the beneficiaries left behind. Instead, estate planning is vital to those who wish to protect their assets and loved one after they pass away.
