Chattanooga Estate Planning Attorney
Connect with Us The Estate Planning Attorney at Purple Law Firm will provide with a complete plan for the future. Chattanooga attorney Jim Purple has been practicing Estate Planning law since 1982. Jim is personally experienced with the advantages of effective estate planning. Here are just a few of the estate planning services we provide:
Last Will and Testament
Living Will Declaration
Living Revocable Trust
Durable General Power of Attorney
Durable Power of Attorney for Health Care
Avoid Probate Plan your Estate
Strengthen your Retirement Plans
Prepare for Long-Term Care
Last Will and Testament | Revocable Living Trust
Most people are familiar with a Last Will and Testament, often called simply a Will , but does a Will do what you want, effectively and cost efficiently? A Last Will and Testament is a legal document which expresses your wishes and desires as to how you want your property (real estate, bank accounts, investments, and personal effects) to be distributed after death. In other words, who do you want to have what after your death. Typically a Will must be administered under the supervision of the Probate Court and can be quite costly. In some circumstances your desires and wishes may be overruled by the Court. Ask a Chattanooga estate planning attorney about these issues.
What is a Revocable Living Trust?
A Revocable Living Trust is a contract which is entered into during your lifetime, which determines how your property ( assets ) is to be managed by you or someone you designate for your benefit. (Or the benefit of you and your spouse) While you are still living, determine how your assets are to be managed or distributed after your death. A Trust is typically revocable and amendable during your lifetime. This means that you may amend or change the Trust to meet your changing circumstances and desires. Or, you may revoke the Trust completely.
There is a common misconception that a Trust is for the wealthy. Further, average people do not have enough assets to justify a Trust. The reality is that not all people need a Trust. But, most people get more benefits from a Trust than from a standard Last Will and Testament. A Trust centered estate plan is the foundation of a wise retirement plan. You are never too young to start your retirement plan.
Chattanooga Estate Planning Attorney for Your Future
Whether you just need a Last Will and Testament or a complete Trust centered Estate Plan, our Chattanooga Attorneys will carefully review your circumstances. And will discuss your retirement needs, long-term care plans, and desires for final distribution of assets. An estate planning attorney will then develop an estate plan which is suited to your needs. And thoroughly explain your new estate plan and how it works. To have a Purple Law Firm estate planning attorney review and analyze your estate planning needs, contact our Chattanooga, Tennessee office today. Jim Purple is an estate planning attorney who has been writing trusts for regular people for more than 36 years.
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Complete Estate Planning Law Firm
Chattanooga estate planning attorney, writing wills and trusts and more. An estate plan is not truly complete unless it deals with those very important and personal issues regarding advanced health care planning. Who do you want to make health care decisions for you in the event that you are unconscious? Or otherwise unable to communicate with the health care professionals? You choose your heath care agent and attorney-in-fact for health care. Purple Law Firm’s estate planning attorney makes sure your choices are honored in a Durable General Power of Attorney for Health Care. In the event that you are faced with the ultimate decision. You are in a terminal condition. Or permanently unconscious. With little or no hope for survival with any quality of life. Does your family know your wishes? Do you have a Living Will? At Purple Law Firm our estate planning attorneys ensure that your decisions regarding the use of life support will be honored. Even if you can not communicate with your health care providers. A Tennessee Living Will Declaration solves this problem.
What is a Durable General Power of Attorney?
No estate plan is complete without a power of attorney document. This document helps when an issue falls outside of the Living Trust. A Durable General Power of Attorney is perhaps the most powerful legal document that can be written. When you execute a power of attorney you appoint another person (or entity) to act on your behalf in any way that you yourself can act. Unless limitations are placed upon the attorney-in-fact, this person my buy, sell, mortgage any property that you own. An attorney-in-fact has the legal authority to perform any function that you can perform.
Avoid Problems with a Power of Attorney
Never execute a power of attorney without first seeking legal advice and counsel from an estate planning attorney. The term general implies that there are no restrictions or limitations placed upon your appointed attorney-in-fact. The term durable indicates that the power of attorney remains effective and survives a disability including incompetence. However, a durable general power of attorney ends at your death. Under Tennessee law any power of attorney is extinguished at the instance of death. Likewise, never attempt to write your own power of attorney, it could be a disaster.
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Choose an Experienced Estate Attorney
Since 1982, Chattanooga, Tennessee estate planning attorney James D. Purple, Sr., planning the estates of people just like you. You do not need to be wealthy or have a large estate to warrant careful planning. If you own property, and know who you want to leave that property to when you die, then you need legal advice and counsel. Get careful planning to be sure that your final wishes are truly honored. At Purple Law Firm, in Chattanooga, TN, we never charge for an initial estate planning consultation. Contact our Chattanooga estate planning attorney who serves Hamilton County, Bradley County, Rhea and Marion County in Tennessee.