Music City Estate Law

We've been providing our services as estate planning lawyers to the community since 2011.

Yes, we do! Call now to speak to an asset protection lawyer.

In addition to collecting W-2s, Form 1099s and other income-related statements, it is important people have their advance Child Tax Credit and Economic Impact Payment information on hand when filing.

Yes, visit our website to view our YouTube video links to our educational videos.

Anyone can write their own will, but with the help of an estate planner, you can rest assured, knowing that your things are where you want them to be. It can also greatly reduce the anguish your family might experience if they had to make these decisions without your input.

An increasing number of states allow individuals to create self-settled trusts to keep assets out of the reach of your creditors, like an irrevocable Tennessee domestic asset protection trust or investment services trust. Holding assets in carefully drafted irrevocable trusts will provide an additional layer of protection from creditors. Additionally, you can have a spendthrift provision in your domestic asset protection trust to provide a further layer of asset protection.

Trust funding is critical to the successful administration of a living trust. The trust governs the management of assets. If the trust does not contain property, it is a stack of worthless paper. After you have created your living trust you need to change title on the real estate, stocks, bond, CDs, bank accounts, investments, and insurance. Some estate plans do not require retitling of all assets in the name of the living trust. Visit our website to learn more

You can have multiple trusts, with each trust serving a different purpose. For example, if you have a large estate, you might have a living trust for your marital assets like your personal residence and bank accounts. It is important for individuals with large estates to have a trust that deals with estate tax issues. Learn more on our website.

A living trust allows for probate avoidance at death, and prevents court control of assets during a period of incapacity. A living trust is a key component of a comprehensive plan for managing your assets and provides maximum privacy so that your private affairs do not become a matter of public record. To learn more, visit our website.

Asset protection planning is the legal process of structuring your assets, such as real property, cash account, and investments in a way so that they can’t be attacked by potential creditors, the IRS or others that may try to pursue some legal remedy against you, whether this is with trusts, corporate entities, utilizing community property versus separate property, laws, gifting your assets, etc. Call to learn more.

Estate planning is a complex process and so are the state and federal laws that govern it. Small oversights can cause big problems for your loved ones. Ensure your plans meet all legal requirements with the help of The Law Offices of Justin M. Gilbert. Our Estate Planning Attorney in Knox County will be ready to serve you.

Estate planning is for every husband, wife, mother, father, grandparent, business owner or professional who has someone they care about, is concerned about providing responsibility for their own well-being and the well-being of loved ones, and is seeking to make a difference in the lives of others after they are gone. These are only a few examples.

Estate planning is a thorough strategy for any person to manage their assets. Regardless of your level of wealth, estate planning is a vital part of your overall financial plan.

- It can be expensive. Legal fees, executor fees, and other costs must be paid before your assets can be fully distributed to your heirs. If you own property in other states, your family could face multiple probates, each one according to the laws in that state. These costs can vary widely; it would be a good idea to find out what they are now. - It takes time, usually nine months to two years, but often longer. During part of this time, assets are usually frozen so an accurate inventory can be taken. Nothing can be distributed or sold without court and/or executor approval. If your family needs money to live on, they must request a living allowance, which may be denied. - Your family has no privacy. Probate is a public process, so any “interested party” can see what you owned, whom you owed, who will receive your assets, and when they will receive them. The process “invites” disgruntled heirs to contest your will and can expose your family to unscrupulous solicitors. - Your family has no control. The probate process determines how much it will cost, how long it will take, and what information is made public.

Probate is the legal process through which the court sees that, when you die, your debts are paid and your assets are distributed according to your will. If you don't have a valid will, your assets are distributed according to state law.

Contrary to what you've probably heard, a will may not be the best plan for you and your family. That's primarily because a will does not avoid probate when you die. A will must be validated by the probate court before it can be enforced. Also, because a will can only go into effect after you die, it provides no protection if you become physically or mentally incapacitated. So the court could easily take control of your assets before you die—a concern of millions of older Americans and their families. Fortunately, there is a simple and proven alternative to a will—the revocable living trust. It avoids probate and lets you keep control of your assets while you are living—even if you become incapacitated—and after you die.

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