In Tennessee a will can be defined as a set of instructions for disposing of one's assets after death. A will can only be enforced through the probate court. That being said, a will provides your instructions, but it does not avoid probate. Any assets titled in your name or directed by your will must go through your state’s probate process before they can be distributed to your heirs.
A living trust is a legal document that, just like a will, contains your instructions for what you want to happen to your assets when you die. But, unlike a will, a living trust can avoid probate at death, control all of your assets, and prevent the court from controlling your assets if you become incapacitated.
Whether you are creating a new start-up or are in need of a buy-sell agreement, we will work with you to ensure that all your business needs are satisfied to provide you and your business a leg-up on the competition.
Probate is the legal process through which the court sees that, when you die, your debts are paid and your assets are distributed according to your will. If you don't have a valid will, your assets are distributed according to state law.
The saying goes there are only two sure things in life... Death and Taxes. If this is true, which it seems to be, then shouldn't everyone have a plan for handling their death and taxes? The answer is yes... and The Law Offices of Chris Ware has provided this learning center to teach you why having an estate plan is so important and to help you consider which plans might be the right fit for your families needs.
An NFA trust makes it easier and more private to transfer not only NFA firearms, but any guns, to your family members if you die or become disabled. Assets in a trust pass directly to your beneficiaries outside of the probate system. There is no public record of what you own.