Nashville Probate Attorney
Helping Clients Avoid Probate & Estate Taxes
The judicial process in which your will is accepted as a legal public document is called “probate.” It is when personal holdings, assets, debts, and possessions are accounted for, settled, and distributed in a court-supervised setting. If the circumstance arises and you pass without any estate planning in place, your case with go through probate and your assets fall to the default laws of your state.
While probate can be a lengthy and stressful process, it doesn’t have to be. Our qualified estate planning attorneys at Lackey & Lackey, PLLC in Nashville are here to help you create safe and secure documents so that probate won’t even be an option after you are gone. However, having an experienced Nashville probate attorney on your side could make a world of difference for you if the need arises.
Are you worried about your assets passing through probate after you die? Our lawyers are commonly asked various questions regarding the probate process. Here are some of the answers we give to common questions:
Question #1: How Long is the Probate Process in Tennessee?
A: The length of the probate process is different in every state. There are a multitude of factors that can determine the kind of process and length expected to be complete. In the state of Tennessee, estate administration could take several months. This includes waiting period, claims filed by creditors, asset identification, taxes and the necessary paperwork. Most estate’s probates are resolved in the time frame of six months, but if the estate is complicated it could possibly take years. Only an experienced attorney can give you a more accurate estimate for your unique situation.
Question #2: What is Considered a Small Estate?
A: In Tennessee small estates are defined as those “in which the value of the property does not exceed $25,000."
Question #3: How Do I Avoid Probate?
A: If your goal is to avoid the probate process, you will need to add a living trust to your estate plan that names a trustee who will take over after your death. When you die, the successor trustee can transfer the assets you put in trust to your beneficiaries without probate court proceedings.
Question #4: What Does the Court Do During the Probate Process?
A: When an estate goes to probate, the court will determine if there is a valid will and make an inventory of all the assets and property. The court will also appraise the value of the property and assets and then distribute them in accordance with the will or the orders of the probate judge.
Dedicated Probate Services in Nashville
With the creation of insurance policies and trusts, you can insure can all your assets are divided and dished out without the need for probate. We all want to make sure our loved ones don’t have to go through additional stress after we are gone, so why not make the process easier by making sure you have all the required documents in place.
The estate planning attorneys at Lackey & Lackey, PLLC in Nashville are highly knowledgeable of the laws in Tennessee and will help you to reduce the risk of probate after you are gone. Unfortunately, probate can bring additional fees and other financial losses. Let our team help you avoid that by creating and filing documents that best suit your lifestyle.Call (615) 205-4692 or contact us online to schedule a free case consultation with one of our dedicated lawyers serving Nashville.