Memphis Wills and Trusts Lawyer
A Last Will and Testament is the entry-level estate planning document. A Will provides a set of instructions as to how your assets should be distributed after death. In it, you make final provisions for your heirs and beneficiaries.
A Living Trust is similar to a Last Will and Testament, yet allows for the transfer of assets without the need for Probate or Estate Administration.
At The Bradley Law Firm, PLLC, we place the utmost importance on client satisfaction through quality work and exceptional service. Our estate planning practice emphasizes custom-tailored solutions that best meet the needs of each unique client. We offer straightforward advice and always look to simplify the process for our clients. Contact our Memphis, Tennessee, will and trust drafting lawyer today.
There are many aspects of estate planning, including:
- Will - a written document that, if properly drafted and witnessed, provides for the distribution of the deceased's property
- Living Will/Durable Powers of Attorney - these instruments authorize another individual to make financial or medical decisions for you if you become incapacitated and can not make those decisions for yourself
- Revocable or Living Trusts - A Living Trust, also known as a Revocable Trust, allows for the grantor (person executing the Living Trust) to transfer title to his/her assets, inter vivos (during life), into the name of the Living Trust, while retaining authority and control over those assets for his/her remaining lifetime
- Irrevocable Life Insurance Trust (Crummey Trust) - through the use of an Irrevocable Life Insurance Trust (ILIT), the Trust may purchase a life insurance policy upon your life which would create estate or inheritance tax free monies to pay taxes or provide for your family and loved ones upon your death
- Dynasty Trusts - helps ensure that your assets are protected for future generations
- Special Needs Trusts - sometimes referred to as a "Supplemental Needs Trust", this instrument is specially tailored to maximize the assets and governmental benefits of a disabled individual
- Charitable Trusts - there are many forms of charitable trusts, all of which provide a tax benefit to the grantor and monetary support to the preferred charity
Whatever your estate planning needs, failure to have an effective plan in place can result in many negative consequences, such as your assets not being distributed according to your wishes at the time of your death.
Don't procrastinate when it comes to establishing a Will or Trust. Contact The Bradley Law Firm, PLLC for help with your legal concerns involving Probate and Estate Planning.
