Planning for Incapacity: Lamar Odom’s Medical Emergency Demonstrates the Need for Estate Planning

Planning for Incapacity: Lamar Odom’s Medical Emergency Demonstrates the Need for Estate Planning Several months ago former NBA basketball star Lamar Odom suffered a medical emergency which left him comatose and unable to communicate with his doctors. A media frenzy erupted due largely to Mr. Odom’s relationship with his estranged wife, reality TV star Khloe…

Obergefell v. Hodges Decision Creates Tenancy by the Entirety Opportunity for Same-Sex Married Couples

Obergefell v. Hodges Decision Creates Tenancy by the Entirety Opportunity for Same-Sex Married Couples In the recent landmark decision in Obergefell v. Hodges, the United States Supreme Court expanded the rights available to same-sex couples, ruling that same-sex partners have a constitutional right to marry. This ruling not only requires recognition of all same-sex marriages…

Protecting Your Children’s Inheritance: How the Ashley Madison Scandal Relates to Estate Planning

Protecting Your Children’s Inheritance: How the Ashley Madison Scandal Relates to Estate Planning The Ashley Madison leaks jolted Americans with the harsh reality that marital infidelity is on the rise. With more than 37 million Ashley Madison usernames exposed, it is apparent that the Internet and social media has created an instant pathway for extramarital…

Millions of Wills and Probate Records Now Online at Ancestry.com: How to Maintain Your Family’s Privacy

Millions of Wills and Probate Records Now Online at Ancestry.com: How to Maintain Your Family’s Privacy Ancestry.com recently shared the launch of their online collection of more than 170 million pages of wills and probate records from US decedents. Ancestry’s online collection of wills, however, is not the first of its kind. In fact, wills…

How to Retroactively Fix a Defective Will in Tennessee (Post Mortem Planning)

How to Retroactively Fix a Defective Will in Tennessee (Post Mortem Planning) Estate plans for most Tennessee residents drafted prior to 2012 were structured to minimize Tennessee inheritance taxes and federal estate taxes. Since then, Tennessee’s death tax landscape has drastically changed and for many Tennesseans their estate plans may be outdated and potentially subject…

What is a Prenuptial Agreement and Should You Sign One Before Getting Married?

What is a Prenuptial Agreement and Should You Sign One Before Getting Married? A prenuptial agreement, sometimes referred to as an antenuptial agreement, is a written contract that sets the ground rules concerning property acquired prior to marriage. Although the terms are negotiable, generally speaking the contract provides that neither party has any obligation to…

We’ll Be Back Soon!

We’ll Be Back Soon! You may have noticed that TN Estate of Mind has been on hiatus for a couple weeks – for a very good reason! Rob Hazard, editor of TN Estate of Mind, welcomed his fourth child, Crosby Pierce Hazard, last Wednesday. We’ll be back in action soon with new blog posts once…

Why Irrevocable Life Insurance Trusts (ILITs) are Dead for Most Tennesseans

Why Irrevocable Life Insurance Trusts (ILITs) are Dead for Most Tennesseans An irrevocable life insurance trust (ILIT) is a trust that when properly drafted and funded removes life insurance proceeds from a decedent’s estate. This means none of the life insurance proceeds are subject to Tennessee inheritance taxes or federal estate taxes. Wow. What a…