Law Offices of Charles R Frazier

Everyone needs estate planning, no matter their age, and everyone age 18 or older needs his or her own estate plan. In fact, if they do not create their own plan, the Tennessee laws of intestacy have written a plan for them--which may or may not be in line with their personal wishes. Of course, estate plans vary depending on goals, finances, family situation, and where you live. There is no one-size-fits-all estate plan. If you are wondering whether you need an estate plan, you’re asking the right question and, yes, you do. Now you need to decide whether you want to decide who gets your property at your death or who makes choices for you if you become incapacitated. Remember if you don't have a plan, Tennessee law with make choices for you.

It depends on your specific factual situation. Most taxpayers resolve their tax liabilities by entering into installment agreements, which require total tax compliance to maintain. However, some taxpayers may have their tax liabilities reduced by submitting a request for an Offer in Compromise or First Time Penalty Abatement. You should consult with a tax professional who can help you understand which options are available for you.

Probate can be very time consuming, expensive, and public. Proper planning allows you to control who gets your money and property upon your death, so even if you are not wealthy, you can benefit from some thoughtful planning. The planning process also addresses what happens if you become incapacitated, and someone has to make decisions on your behalf or care for your kids. If you have not done any planning, a Probate Court will have to appoint someone to make your medical and financial decisions for you. The Court will distribute your assets under state law. So, your relatives, who you did not want to have assets, could inherit your stuff. The Court could appoint persons to make choices for you that you would not have made for yourself.

You need to consult with a tax attorney to discuss your specific factual situation. You should not rely on this information because we only provide this response for informational purposes. Generally speaking, the IRS will not seek to prosecute you criminally nor seek to levy your home. The IRS desires to encourage "voluntary compliance," so they will usually work with a taxpayer to resolve your tax liability before resorting to seizing your property or asking the Department of Justice to file charges for tax evasion or other crimes.

We handle all types of tax matters with the Internal Revenue Service and the Tennessee Department of Revenue, including tax audits and tax collections cases. We also conduct tax research for clients for prospective or completed transactions. We have also helped our clients with innocent spouse relief requests, penalty abatements, federal tax lien issues, and wage garnishments.