Articles for Rainey, Kizer, Reviere & Bell P.L.C.

The following topics are covered in this newsletter: Will there be Estate Tax Reform? What will it look like? View Estate Planning Newsletter here.

The following topics are covered in this newsletter: Tennessee Legislature Amends Exempton For Franchise and Exercise Tax View Estate Planning Newsletter here.

The following topics are covered in this newsletter: What Is The Tennessee Long-Term Care Partnership? View Estate Planning Newsletter here.

In the case of Poss v. Turner, the Tennessee Court of Appeals dealt with the issue of the legal effect of when a parent transfers money to a child. Mrs. Turner, the decedent, was the payee on a check for $16,000.00. She endorsed it and gave it to her son, Charles Turner, who also endorsed it and deposited it into an account at the Circuit Court Clerk’s Office to pay a delinquent judgment against him for child support arrearage. When Mrs. Turner died, the Executrix of her Estate sued Charles ...

In continuing with the basic estate and financial planning tips I pointed out in my January, 2009 Newsletter, I point out some additional things to consider: 1. Businesses owned by more than one individual (not in a family) should be sure and have a working understanding of and a knowledge of how business succession will be handled. Business owners should consider buy-sell arrangements, funding for buy-sell arrangements, and any restrictions on the operating business if the ...

As we enter a new year, it is a good time to take stock of estate planning and financial positions. In this letter and the next newsletter, I will point out several things that people should consider regarding their personal situation. 1. Naming Successor Attorneys-In-Fact, Executors, Trustees, and Guardian. Many people spend the time to do estate planning documents such as Durable Powers Of Attorney, Advance Directives For Health Care, Health Care Powers Of Attorney, Wills, and ...

WHO SHOULD BE YOUR TRUSTEE? I am often asked who would be the appropriate person or entity to serve as a trustee. There is no right answer, and it always depends on the specific circumstance for the family involved. This letter will provide you with a general checklist of pros and cons for consideration of an Institutional Trustee or an individual trustee. View the Estate Planning Newsletter here.