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Tennessee Estate Planning

Estate planning involves preparing for the distribution of your assets. Attorney-drafted templates provide a quick and easy way to create essential documents.

intro Estate Planning

What is Estate Planning?

Estate planning includes documents that outline how your assets will be managed and distributed after your passing. Explore subcategories for the most relevant templates.

Common Tennessee Estate Planning documents

  • Last Will — outlines how assets are distributed after death.
  • Living Trust — manages assets during your lifetime and after.
  • Power of Attorney — designates someone to make decisions on your behalf.
  • Living Will — specifies your healthcare wishes in case of incapacity.
  • Advance Directive — outlines your preferences for medical treatment.
  • Probate Documents — facilitate the legal process of settling an estate.

Estate Planning forms by State

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Similar documents: key differences

  • Will vs. Trust — a will outlines asset distribution, while a trust manages assets during life.
  • Living Will vs. Advance Directive — both express healthcare wishes but may differ in specifics.
  • Power of Attorney vs. Healthcare Proxy — Power of Attorney covers financial matters; Healthcare Proxy focuses on medical decisions.
  • Probate vs. Non-Probate Assets — probate assets go through court, non-probate assets transfer automatically.

  • Ensure capacity and proper signing for all documents.

  • Many documents may require witnesses or notarization.

  • Related documents, like wills and trusts, should align properly.

  • Update documents after major life events or changes in circumstances.

  • Select responsible parties carefully to handle your affairs.

  • Keep original documents in a safe and accessible location.

How to get started

Start in minutes with these steps.

  • Find a template or package that fits your situation.
  • Review the description, preview, and signing requirements.
  • Get full access with a subscription.
  • Complete it in the online editor.
  • Export or send: download, email, USPS mail, notarize online, or send for e-signature.

Practical tip

Understanding the differences between a will and a trust can simplify your planning process.

FAQs

The main purpose is to ensure your assets are distributed according to your wishes.

A will can still be necessary to address any assets not included in your trust.

Without a plan, state laws will dictate how your assets are distributed.

Yes, you can update your plan as your life circumstances change.

It's wise to review your plan every few years or after major life events.

Glossary

  • Will - A legal document detailing asset distribution after death.
  • Trust - An arrangement for managing assets during life and after.
  • Power of Attorney - A document granting someone authority to act on your behalf.
  • Living Will - Document outlining healthcare preferences in case of incapacity.
  • Advance Directive - A legal document specifying medical treatment preferences.
  • Probate - The legal process of validating a will and distributing an estate.
  • Beneficiary - A person designated to receive assets from a will or trust.
  • Executor - An individual responsible for managing and distributing an estate.
  • Asset - Any item of value owned by an individual.
  • Incapacity - A state where an individual cannot make their own decisions.

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