12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

What is a Last Will and Testament in Zip Code 37620

What is a Last Will and Testament in Zip Code 37620

A Last Will and Testament is the first building block of a good estate plan. Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death.

Option 1: Will-Based Estate Plan

All essential details of your Last Will and Testament will be outlined in the will-based estate plan. It will provide information including the person to be put in charge of settling your final affairs (the executor), the persons who will inherit your property (beneficiaries), and the provisions on how they will inherit it. Your last will and testament with a will-based estate plan will cover the following:

1. Who will serve as the personal representative/executor

2. What powers your personal representative/executor will have

3. Who will inherit your property

4. How and when your property will ultimately be transferred to your beneficiaries

5. Who will serve as guardian of your minor children until they become adults


Option 2: Trust-Based Estate Plan

In the trust-based estate plan a document called a revocable Living Trust will cover all the important points listed above in the will-based estate plan with one exception: the person in charge of settling your final affairs after you die is called an administrative or successor trustee instead of an executor. If you have a revocable living trust you will still need a Last Will and Testament so. Ideally, you will fund or move your assets into your trust before you die. If you fail to fund even one asset into your trust, then the last will and testament will be the necessary document that will "catch" the unfunded property and transfer it to your trust after you die. The last will and testament in this case will function as a pour over will that will cause the unfunded assets to "pour over" into your trust through a probate process.


A pour over will needs to cover:

1. Who will be in charge of your assets that were not funded into your trust as the personal representative/executor

2. What powers your personal representative/executor will have

3. Who will serve as guardian of your minor children until they become adults

4. What will happen in the absence of a Last Will and Testament?


In order for your property to go to the beneficiary of your choice after you are gone, a Last Will and Testament is recommended.


The absence of a will could result in the state providing a last will and testament on your behalf under the state's intestacy law. The laws of the state that your property is located in will prevail. This can get complicated if you own property in multiple states.

 
Personalize & Print a Free TN Last Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Related Legal Services near Zip Code 37620
Randy M. Kennedy
625 Anderson St
Bristol, TN 37620
(423) 758-8443
Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Civil Litigation & Trial Law Attorneys,  Busi
Moffatt Charles L
1241 Volunteer Pkwy Ste 444
Bristol, TN 37620
(423) 989-7868
Attorneys,  Family Law Attorneys,  Accident & Property Damage Attorneys,  General Practice Attorneys
Bieger Dan PLLC
565 Volunteer Prkwy
Bristol, TN 37620
(423) 212-7016
Litigation & Tort Attorneys,  Attorneys,  Accident & Property Damage Attorneys,  Personal Injury Law
Hale Kenneth D
416 State St
Bristol, TN 37620
(423) 989-6555
Attorneys
Jones King Downs & Peel P.C.
105 Landmark Ln
Bristol, TN 37620
(423) 764-5535
Attorneys, Estate Planning Attorneys, Wills, Trusts & Estate Planning Attorneys
Large Michael E
529 Alabama St
Bristol, TN 37620
(423) 968-4969
Accident & Property Damage Attorneys,  Attorneys,  Social Security & Disability Law Attorneys,  Corp
Large & Associates Attorneys
511 Alabama St
Bristol, TN 37620
(423) 968-4969
Social Security & Disability Law Attorneys, Labor & Employment Law Attorneys, Elder Law Attorneys, A
Rutrough Law
1101 Volunteer Pkwy Ste 5
Bristol, TN 37620
(423) 217-4899
Family Law Attorneys, Juvenile Law Attorneys, Attorneys
Murthy Ramesh
804 Anderson St
Bristol, TN 37620
(423) 793-4800
General Practice Attorneys, Attorneys, Legal Service Plans
Penn Stuart
804 Anderson St
Bristol, TN 37620
(423) 793-4800
General Practice Attorneys, Attorneys
Hanson Andrew M
804 Anderson St
Bristol, TN 37620
(423) 793-4800
General Practice Attorneys, Attorneys, Legal Service Plans
Esposito Mark L
804 Anderson St
Bristol, TN 37620
(423) 793-4800
General Practice Attorneys, Attorneys, Legal Service Plans
Walters Elizabeth R
804 Anderson St
Bristol, TN 37620
(423) 793-4800
General Practice Attorneys, Attorneys, Legal Service Plans
Frank L. Slaughter Jr. PC
324 6th St
Bristol, TN 37620
(423) 217-4521
Legal Service Plans,  General Practice Attorneys,  Accident & Property Damage Attorneys,  Attorneys,
Slaughter-Helm Sonya
1241 Volunteer Pkwy Ste 422
Bristol, TN 37620
(423) 764-4356
Bankruptcy Law Attorneys,  Divorce Attorneys,  Family Law Attorneys,  General Practice Attorneys,  A
The Hutton Law Firm
1241 Volunteer Pkwy Ste 100
Bristol, TN 37620
(423) 764-4188
Criminal Law Attorneys, General Practice Attorneys, Attorneys
Orfield Howard
512 Volunteer Pkwy # 2
Bristol, TN 37620
(423) 968-3850
Bankruptcy Law Attorneys, Attorneys, Legal Service Plans
Haynes David S
524 Holston Ave
Bristol, TN 37620
(423) 968-3507
Attorneys, Legal Service Plans
Icenhour Jr Luther H
900 Anderson St # B
Bristol, TN 37620
(423) 968-3155
Estate Planning Attorneys, Attorneys, Family Law Attorneys, Divorce Attorneys, Wills, Trusts & Estat
Icenhour Edens
900 Anderson St # B
Bristol, TN 37620
(423) 968-3155
Estate Planning Attorneys, Attorneys, Family Law Attorneys, Divorce Attorneys, Wills, Trusts & Estat
Leonard Fred M
27 6th St
Bristol, TN 37620
(423) 968-3151
Attorneys, Legal Service Plans
Hudson Timothy W
131 8th St
Bristol, TN 37620
(423) 968-3106
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Social Security & Disability Law Attorne
Timothy W. Hudson
131 8th St
Bristol, TN 37620
(423) 968-3106
Attorneys, Criminal Law Attorneys, Family Law Attorneys, Social Security & Disability Law Attorneys,
Cooper Don W
100 5th St # 100
Bristol, TN 37620
(423) 968-2395
Attorneys,  Tax Attorneys,  Wills, Trusts & Estate Planning Attorneys,  Corporation & Partnership L
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US