Estate Lawyer Knoxville, T

Estate lawyers in Knoxville, TN, also known as probate lawyers, are experienced and licensed professionals in the estate planning field of law and the probate field of law that focus on the state and federal laws affecting your estate. They understand deeply how your assets will be inventoried, valued and dispersed, and even taxed after your death. 

The lawyers here at Carpenter & Lewis PLLC have a deep understanding of this process, and offer their services as estate lawyers in Knoxville, TN. In addition to teaching you about the probate process and how it can protect you, they can also:

• Help you create your will, no matter the format or media you want it presented in.
• They’ll help you ensure you designate the people you want as beneficiaries.
• They can help establish a durable power of attorney and a separate medical power of attorney.
• They can help you find ways to reduce or avoid estate taxes when it’s legally possible.
• They can also help you find ways to reduce and avoid your time at probate court.
• And last but not least, an asset protection lawyer in Knoxville, TN can help you find ways to set up trusts, as they understand the various types of trusts you may be interested in. 

Lawyers that deal in asset protection often deal in flat fees when crafting and binding legal documents such as wills and power of attorney, but you can also pay them hourly fees to help you maintain your estate and even act on your behalf when handling disputes. You can also hire these lawyers to execute your will upon your death to further ensure that everything happens as you wished it via your legalized documentation. 

Anyone with power of attorney can call on an assets protection lawyer in Knoxville, TN to help them while they are trying to oversee a recently deceased person’s estate. It can make their life easier and ensure that everything is done correctly according to the law and the will they’re left with. A good lawyer with this focus can help you to avoid probate court, though there are some cases where probate court is required as it depends heavily on the assets and the deceased’s estate. 

If the will is being contested by anyone, then you should seek an asset protection lawyer to help you as that can drastically change the will later on. While contentment involving the will is rare and far between, it can happen and you should know you have a lawyer on your side that you trust with your case. 

Before working with a lawyer, talk about their experience and background to see who may work best for you. Working with a lawyer that you trust can help you feel less stress when dealing with asset protection, probate court, and many more circumstances that an asset protection lawyer in Knoxville, TN can help you with.

What is a living trust in Tennessee?

Although a living trust is relatively similar in each state, it is important to remember that estate planning and the probate process will have variations in rules depending on which state you are in. Your estate planning lawyer can help you create a living trust as its own stand-alone estate planning document or you can create it in tandem with other estate planning documents, like your will. A living trust has the major benefit of avoiding the probate process after the trustor passes away and this can make the process smoother for family and loved ones involved in your estate plan. 

Are there different types of trusts? 

Yes. One of the reasons it is beneficial to work with an estate planning lawyer is because there are different types of trusts and you may not be sure which one is right for you. It can get easy to get caught up in finding DIY estate planning documents online that profess to give you everything you need for your estate plan. However, these are often not detailed, do not give you enough information on what to do with your estate plan, and are not always state-specific. There are two main types of trust your lawyer can help you create: 

• A revocable living trust. This trust allows the trustor to make changes, amendments, or to be completely voided while the trustor is still alive. 
• An irrevocable trust. In the state of Tennessee, once you sign a revocable living trust, you cannot change, alter, or revoke the trust. This can only be done in very specific circumstances. The benefit is that it can minimize estate taxes of the assets in the trust. 

Knowing What Is Right for You

There are so many things you can do for your end-of-life planning and it can be hard to determine what is right for you. Your lawyer can help you go over your property and assets and understand what would benefit you and your heirs the most. For example, if avoiding probate is very important to you, a living trust may be in you and your loved one’s best interests. If you have minor children and your main concern is ensuring they are taken care of and have guardians, then a will (or a will and a living trust) could be the right decision. It is important to understand that you do not have to make these decisions on your own and that your estate planning lawyer will be there for you every step of the way. 

Call Carpenter & Lewis PLLC today to speak with an estate lawyer in Knoxville, TN.