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 So, just having a trust doesn’t avoid probate, but a properly set up trust can avoid probate. Let’s first briefly explain probate. Probate is a court process required for someone’s estate when they die with assets in their name […]

 If you’ve formed an LLC, or are thinking about it, you need to understand this question: What is an operating agreement, and why is it so important? An LLC operating agreement is the rule book for your business. It […]

 Are you thinking of selling your business? Whether you’re retiring, moving, or just ready for something new, here’s what happens when you decide to sell your business. Selling a business is a multi-step process. Once you make the decision […]

 Hi, I’m an estate planning attorney here at Carpenter and Lewis in Knoxville, Tennessee. If you’re married and own appreciated assets like real estate or stocks that have increased in value over time, there’s a powerful way to eliminate […]

 “So, one of the things when I’m talking with estate planning clients is they have a question about, ‘What is probate?’ Probate is the legal process of transferring a deceased person’s assets to whoever they’re supposed to go to. […]

 “A question I don’t have that often, luckily, but that still comes up, is a client asking that general question of, ‘Why do I even care about estate planning?’ I’ve done this long enough to where I’m pretty direct […]

 “When we’re talking with estate planning clients and the topic of a will comes up, often times we’re asked, ‘Does a will cover all of my assets?’ And the short answer is, it can. It depends on your estate […]

 “And the simple answer is that it’s any asset that you may have an ownership interest in that doesn’t transfer outside of probate by a transfer on death provision or payable on death provision or something like that.  An […]

I often walk clients through the essential components of a well-crafted will. At its core, a will outlines what happens to your assets when you pass away. Key elements include: a clear inventory of your possessions, a list of beneficiaries […]

I want to stress how critical powers of attorney are in any solid estate plan. These documents allow someone you trust to make decisions on your behalf if you’re ever incapacitated but still alive. A durable power of attorney gives […]