Estate Planning - Basic Plans

The most common and well-known estate-planning instrument is the will. A will is an individual’s written directions for transferring his or her property upon death.

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A revocable living trust is an agreement set up during the life of its creator – who is commonly referred to as the grantor. The trust agreement is between two people: the grantor and a trustee.

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A durable power of attorney – or what is commonly called a financial power of attorney – appoints a person or financial institution you trust to handle your finances if you become unable to do so yourself.

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A durable power of attorney for healthcare is a special document that allows someone else to make healthcare decisions for you if you cannot do so yourself. This is different from a durable power of attorney for finances.

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The Tennessee Right to Natural Death Act was signed into law in 1985. It recognizes your rights as a competent adult to decide about your medical care. This law says that every person has the basic and natural right to die with as much dignity as possible.

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ESTATE PLANNING HOME

Head back the the Nashville Estate Planning home page.