The Cost of Settling an Estate

What does Estate Settlement Cost?

Unless you have observed an estate settlement close at hand, you may be unaware of the costs of settling an estate after someone’s death.  Every estate is different in terms of the assets and financial obligations of the deceased, so the costs described below will not apply to everyone.  The costs include paying debts incurred during the deceased person’s lifetime, as well as taxes and costs incurred as a result of the death.  [Read more…]

Probate avoidance: Is it necessary in Tennessee?

In some states, probate is expensive and burdensome. In my experience, that is not true in middle Tennessee. In those state with lengthy and expensive probate processes, attorneys often advocate using revocable trusts to avoid probate. This requires having a revocable trust document prepared and then transferring all of your assets into the trust during life. This is usually more expensive and time consuming that having a Will prepared.  [Read more…]

What does an Executor do?

Q: What do I have to do if I am Executor of the estate for my parent, spouse, or sibling?

A: Being an executor can be a big job, depending on the assets in the estate and the family dynamics. This is a general list of the tasks required.  [Read more…]