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…