by Joel Roettger | Nov 13, 2018 | Estate Planning, Probate, Tax, Trusts
No, but you would not know that from reading the statute. The 65-day rule is a taxpayer-friendly provision involving the income taxation of trusts and estates. It allows the trustee of a trust or executor of an estate to treat certain distributions made in one tax...
by Joel Roettger | Nov 12, 2018 | Estate Planning, Trusts
Termination of a trust is like dissolution of a business organization. In both cases, there is a winding up period before the entity legally ceases to exist. Usually, this means paying any outstanding trust obligations, liquidating assets, filing final income tax...
by Joel Roettger | Mar 25, 2018 | Asset Protection, Estate Planning, Trusts
For reasons of privacy and asset protection, clients sometimes seek to conceal or obscure their ownership of real property. Tennessee law, however, does not make it easy to do so. One technique is to purchase real estate through an entity, such as a limited liability...
by Joel Roettger | Nov 12, 2017 | Estate Planning, Probate
In a recent case, the Tennessee Court of Appeals found that a settlor failed in her do-it-yourself approach to estate planning. Decedent died in 2015. She left behind two daughters, a son, and two grandchildren. Presumably the grandchildren were the descendants of a...
by Joel Roettger | Sep 13, 2017 | Asset Protection, Probate
Are life insurance proceeds subject to the claims of the decedent’s creditors under Tennessee law? Consider two scenarios. In the first scenario, the proceeds are payable directly to the decedent’s spouse or children, bypassing probate. Not surprisingly,...
