Estate Planning Newsletter – April 2017

September 7th, 2017   •   Comments Off on Estate Planning Newsletter – April 2017   

CAN AN EXECUTOR CONTEST A WILL AFTER HE HAS ADMITTED IT TO PROBATE?   In the case of The Estate of Ellra Donald Bostic, the Decedent (“Donald”) died approximately three months after he executed his Will.  Donald appointed his daughter, June, as the Executor.  June probated the Will approximately one month after Donald died.  Donald… Read More

Business Transaction Newsletter – March 2017

September 7th, 2017   •   Comments Off on Business Transaction Newsletter – March 2017   

KNOW THE POWER OF EXEMPTION STATUTE   In the case of The Bank of Nashville vs. Charles Chipman, the exemption statute exempting IRA’s from execution, TCA §26-2-105(b) allowed a Borrower’s IRA to stay exempt from execution by the Bank of Nashville even though Mr. Chipman committed fraud against the Bank with respect to obtaining a… Read More

Estate Planning Newsletter – March 2017

September 7th, 2017   •   Comments Off on Estate Planning Newsletter – March 2017   

WAS IT A LOAN OR WAS IT A GIFT?   In the case of the Estate of Lana Hopson Reed, the Tennessee Court of Appeals dealt with the issue of whether money that was transferred by parents to a daughter was a loan or a gift.  After the daughter died, an intestate estate was opened,… Read More

Estate Planning Newsletter – Feburary 2017

September 7th, 2017   •   Comments Off on Estate Planning Newsletter – Feburary 2017   

ASSET PROTECTION PLANNING THROUGH LIFE INSURANCE   The case of Estate of James Christopher Sprinkle points out an important aspect of asset protection planning and life insurance.  The facts were that Mr. Sprinkle died owning a $250,000.00 life insurance policy insuring his life. His wife was the beneficiary.  The wife collected the life insurance proceeds… Read More

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