Best Estate Planning Lawyers Knoxville, TN

Knoxville, TN Estate Planning FAQs

• What is the non-emergency contact number for the local police station in Knoxville, Tennessee?

  To report non-emergency cases in Knoxville, contact its Police Department at (865) 215-7450.

• Where can I get a copy of police reports for incidents related to my case in Knoxville, Tennessee?

  To obtain a copy of the police report, you can visit the Records Unit of the Knoxville Police Headquarters, located at 800 Howard Baker Jr Ave. You can bring your blueprint accident information card to help expedite the process.

• What are some tips for creating an estate plan in Knoxville?

  It is important to start estate planning early while you are still in good health and able to make decisions. Here are some of the key things to consider: -Designating beneficiaries for your assets: This will ensure that your assets go to the people you want them to go to. -Naming an executor: This is the person who will be responsible for carrying out your wishes as outlined in your estate plan. -Taking inventory of your assets: These include your bank accounts, retirement accounts, life insurance policies, investments, and other valuable items.

• What will happen if you die without an estate plan in Knoxville?

  If you die without an estate plan in Knoxville, your surviving family members will follow the law of intestacy. Under the State of Tennessee rules, when you die without an established plan, your properties will be divided into two groups: probate property and non-probate property. Probate property is distributed according to the Tennessee Intestate Succession Act, while non-probate property is distributed according to the terms of the governing documents, such as a will or trust.

• What documents might be included in an estate plan in Knoxville?

  A well-rounded estate plan typically includes a will, a power of attorney, and advance directives. -Will: This specifies how your assets will be distributed after your death. You can also use a will to name guardians for your minor children and an executor to oversee the distribution of your assets. -Power of attorney: This gives someone else the authority to make financial or legal decisions on your behalf if you are unable to do so yourself. -Advance directives: These specify your wishes for medical care in the event that you become terminally ill.

• Can you make your family involved when creating an estate plan in Knoxville?

  Yes. It is a good decision if you make your family involved when creating an estate plan in Knoxville. Through this, it can lessen your stress in case you die or become terminally ill. It can also help you decide to whom you will pass your assets and know their specific personalities.

• Why is it important to establish a living trust in Knoxville?

  When planning your estate in Knoxville, it is necessary to establish a living trust to avoid prevent in case of your passing. A living trust indicates what will happen to your property if you are no longer around. It can also save you from avoiding paying taxes. While you are still alive, you can change the trust at any time.