An estate attorney in Nashville, TN’s estate planning guide
March 8, 2021at8:00 AM
It’s essential to thoroughly plan your estate. This kind of proactive action is one of the only ways to secure the future happiness and security of those closest to you. And there are few truer axioms than it’s better safe than sorry. But if you’re unsure where to start, it’s time to get an estate attorney in Nashville, TN to help!
And, at Morgan Dale Law, we’ve been providing premier estate planning services for years. We’re not like big law firms. We value our clients and work diligently to provide personalized services and solutions tailored to all of life’s most difficult obstacles and unique circumstances. When it comes to estate planning, consider us your loved ones’ guardian angels.
Here’s everything you need to know about estate planning!
1. Take an inventory
The first thing you need to do is take an inventory. Even if you think you don’t have enough to justify estate planning, you’d be surprised by the assets you have, both tangible (e.g. your car) and intangible (e.g. stocks).
It’s also important to assess your debts and consolidate all the most essential contact information and names for advisers. Keeping the summary secure, consolidated, and accessible is also imperative, including original copies of important documentation.
Afterward, estimate their value. This can all be very overwhelming, so hiring an estate attorney in Nashville, TN is highly recommended to accurately value your assets and ensure everything has been accounted for!
2. Account for dependents
This is absolutely essential because this is the foundation for ensuring your family is taken care of. These situations are when an estate attorney in Nashville, TN is most needed because you need in-depth and nuanced legal know-how to write an air-tight, binding document.
Basically, you just need to think about how to protect your assets and family when you’re gone. This includes comprehensive life insurance, picking a guardian for children, and establishing wishes for your children’s care.
Providing for your loved ones’ future needs is a present you can only acquire in the present. Because too late can come too soon.
3. Establish directives
Next, you need to decide if you want assets distributed in a particular way and if you have particular goals in mind. If you do, having legal documentation written and approved by professionals is the only way to ensure your wishes are realized.
This means designating life insurance beneficiaries, a financial power of attorney, limited power of attorney, managing retirement accounts, establishing a living trust, and medical care and wishes should you be incapacitated.
There’s much more for you to take into consideration, and that’s why you need an estate attorney in Nashville, TN. Forgetting to include key information could have serious ramifications when you’re gone, and by then, it’ll be too late.
There are truly only two things guaranteed in this world, and they’re rarely married quite like this. Those things are death and taxes.
Every state has different estate tax laws to be aware of. Effectively planning and having an expert can minimize the taxes your loved ones have to pay, which will be a welcome relief. And that’s why you need an estate attorney in Nashville, TN to help.
These are complicated and vary from state to state, and some states even have inheritance taxes. But, with a qualified attorney, rest assured you’ll be taken care of.
Schedule a consultation now!
If you’re planning your estate, then make no mistake: you need an estate attorney in Nashville, TN to secure the future of your loved ones’ after you’re gone. Contact us now to schedule a consultation! This is the only way to ensure the big sleep is a peaceful one.