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Wills (back)
Is a Handwritten Will Legal?
Yes. A handwritten will is legal in Tennessee, provided that the document is entirely in your own handwriting and is signed by you. This is known as a "Holographic Will." Following your death, the authenticity of your handwriting must be proven by two (2) individuals.
A will is a very technical document. While a handwritten will may work well for you, there is a high likelihood that it may not work well for you. It is strongly recommended that a will be prepared by an attorney who has experience in this area of law. If your will is invalidated at your death for whatever reason, Tennessee law will govern how your property is distributed as if you had died without a will.
Trusts
There are several common Trusts utilized in an Elder Law practice.
Testamentary Trusts
A testamentary trust is a trust included in your Last Will and Testament. There are several different types. You may need a trust to ease the management of money for minor children or grandchildren. You may need a trust for your spouse in order to save estate and/or inheritance taxes.
Living Revocable Trusts
A living revocable trust is a tool used to avoid probate after you pass away. If you establish a living revocable trust, you will need to transfer all of your assets to the trust now and in the future.
There are many “trust mills” advertising that a living revocable trust will save taxes, insure privacy, and prevent disgruntled family members from contesting. Buyer Beware! The client may receive a beautiful binder with a trust and other documents that look quite official. However, those documents frequently do not reflect the client’s testamentary wishes, and many times, the company does not follow through with the client to insure that assets are properly transferred to the trust.
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