Tennessee Estate Planning Lawyers
Planning Ahead for Yourself and Your Family
One of the most important things you can do for your own peace of mind and for your family is to develop an estate plan that meets the specific needs of you and your family. At the Butler, Vines & Babb law firm in Knoxville, Tennessee, we can help you assess your estate planning needs.
Contact us about your Estate Planning injury.
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If you own property, if you have dependents or if you own a business, you need an estate plan.
Trusts can protect assets now and disperse them later.
A will is basic to any estate plan, but a will is subject to probate — and to public scrutiny. Many of our clients select trusts that meet their estate goals. Talk to an estate planning lawyer at Butler, Vines & Babb about the trust instruments that may fit your needs — revocable living trusts, irrevocable trusts, charitable trusts, special needs trusts and others. A trust can transfer assets to another person without the time and expense of going through probate.
Do you have powers of attorney in place?
What if you cannot make your own decisions about managing your assets or about medical procedures? By having a medical power of attorney (or health care proxy), you can designate a person you trust to make your medical decisions. A financial power of attorney enables another person to pay your bills and manage your funds if you cannot. At a minimum, every estate plan should contain a durable power of attorney and a will. The durable power of attorney will be used to provide direction and guidance to a proxy who will carry out your wishes if you are unable to do so.
Estate Planning for Closely-Held or Family-Owned Businesses
Proper estate planning will limit the impact of federal and state estate taxes, as well as ensure an orderly business succession. There are a number of devices that can be employed to accomplish these goals, such as the Family Limited Partnership (FLP).
Estate planning can give you peace of mind in knowing that your family knows how medical decisions should be handled and how your property should be transferred. Contact a lawyer who will listen carefully to your needs and help you develop an estate plan that fits those needs.
At Butler, Vines and Babb, G. Kevin Hardin is the lawyer that focuses his practice on Estate Planning.