Estate Tax under the Tax Bill

If the Tax Cuts and Jobs Act passes, the number of estates subject to the death tax is about to get even smaller, at least temporarily. Generally speaking, the Basic Exclusion Amount is the aggregate amount a taxpayer may transfer, during life and/or at death, to...

Prepaying State and Local Taxes in 2017

Don’t bother.  The Tax Cuts and Jobs Act generally eliminates the deductions for state and local property taxes, income taxes, and sales taxes. Starting in 2018, an individual will only be able to deduct these items if they are paid or accrued in carrying on a...

Contract Wills

Is a contract to make a will enforceable under Tennessee law? Yes. Tennessee specifically authorizes contracts to: Make a will or devise, Not to revoke a will or devise, and To die intestate However, such contracts can only be established by: Provisions of a will...