What is estate planning?

Estate planning is the process of determining how your assets and property will be handled after you are no longer able to manage them. Estate planning typically involves creating a will, setting up trusts, purchasing insurance, and appointing an executor of your estate. Estate planning can help you make sure that your wishes are carried out after you have passed away. In Tennessee, estate planning typically involves creating a will that outlines who will inherit your assets and property. You can also establish trusts to help provide for a minor child, provide for a disabled person, or for tax savings. Purchasing life insurance can help provide financial security for your family after you have passed away. Additionally, you can appoint an executor of your estate to manage your property and distribute your assets according to the instructions in your will. Estate planning can help provide peace of mind that your affairs will be handled responsibly and according to your wishes. It can also help provide financial and emotional security for your family, especially if there are young children or disabled persons who need to be taken care of. Estate planning is also a good way to reduce tax liability and ensure that your assets are handled according to your wishes.

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What is estate planning?

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