Estate Planning Attorneys Serving Knoxville, Tennessee 

Planning for the future is one of the most important steps you can take to protect your family, your assets, and your legacy. However, estate planning is far more than writing a will. It’s about creating a comprehensive plan that makes sure your wishes will be honored, provides for your loved ones, and minimizes conflict and uncertainty after you’re gone.  

At the Law Office of Joshua S. Reed, we provide personalized estate planning services that address every aspect of your estate. Our attorneys have built a reputation on trust, diligence, and a commitment to helping clients secure the future they envision.  

Whether you’re thinking about creating a will for the first time or need to update an existing estate plan, we’re here to guide you at every step. Estate planning isn’t just for the wealthy; it’s a powerful way for anyone to take charge of their future. 

Without the guidance of a seasoned attorney, estate planning can quickly become overwhelming. From selecting beneficiaries to managing tax implications and handling probate, the process involves numerous considerations. With our in-depth knowledge of Tennessee estate planning laws, we provide personalized, goal-focused advice to help you protect your legacy, regardless of the size of your estate. 

Don’t wait—call today to schedule your consultation and take the first step toward securing your family’s future with confidence. We serve clients in Knoxville and Farragut, Tennessee.

What Is Estate Planning?

Estate planning is the process of organizing how your assets will be managed and distributed, both during your lifetime and after your passing. While many people think estate planning begins and ends with creating a will, it often involves trusts, advance directives, power of attorney documents, and strategies for minimizing taxes or avoiding probate.  

A well-constructed estate plan enables you to: 

• Specify who will inherit your property and assets. 

• Name guardians for minor children. 

• Designate someone to make financial and healthcare decisions on your behalf if you cannot do so. 

• Protect and pass on family-owned businesses. 

• Address how medical decisions should be made in case of terminal illness or incapacity. 

For many families, the peace of mind that comes with putting these plans in place is invaluable. 

Key Elements of Estate Planning

Estate planning has several components, each serving a distinct purpose. Below are some of the most common elements that we’ll help you incorporate into your plan: 

1. Wills 

A will serves as the foundation of your estate plan, providing a legally binding way to document your intentions for the distribution of your assets. It also allows you to appoint guardians for your minor children and express your funeral preferences. 

2. Trusts 

Trusts provide additional control by holding and distributing assets according to your instructions. They also have the added benefit of bypassing probate, reducing delays and costs for your beneficiaries. We work with clients to establish revocable living trusts, irrevocable trusts, and special needs trusts tailored to their goals. 

3. Power of Attorney 

This document grants a trusted individual the authority to manage your financial or legal affairs if you are unable to do so yourself. From overseeing bank accounts to handling property transactions, a power of attorney allows someone you trust to step in and act on your behalf when needed. 

4. Advance Healthcare Directives 

Also known as a living will, this document spells out your preferences for medical treatment in situations where you’re unable to communicate. Combined with a healthcare power of attorney, it makes sure your healthcare wishes are honored. 

5. Probate & Estate Administration 

If you’ve recently lost a loved one, we can assist with probate and estate administration to help settle their affairs efficiently and in compliance with Tennessee law. Our hands-on approach helps reduce stress during what is often a challenging time. 

Estate Planning Laws in Tennessee

Understanding Tennessee’s estate laws is essential to creating a legally sound plan. Here are some key considerations that may apply to your estate: 

• Probate threshold: Not all estates go through probate. If the estate amounts to less than $50,000 in personal property, Tennessee allows a simplified process through a Small Estate Affidavit. 

• Intestate succession (No will): Without a will, the distribution of your assets in Tennessee is governed by state law. In most cases, this means your spouse and children will inherit the majority of your estate. However, the process and outcome can differ based on your family’s circumstances. 

• Estate and gift taxes: Tennessee does not have a state estate tax or inheritance tax. However, federal estate taxes may apply if the value of your estate surpasses the IRS exemption threshold. 

• Rights of a surviving spouse: Tennessee law allows a surviving spouse to claim an elective share of the estate if they are left with less than what they would have inherited under intestate succession. This may vary depending on the length of the marriage and other factors. 

• Witness requirements for wills: In Tennessee, a will must be signed in the presence of the testator by at least two witnesses to be considered valid. 

Estate Planning Attorneys Serving Knoxville, Tennessee

At the Law Office of Joshua S. Reed, we believe in quality over quantity. Unlike larger firms that handle hundreds of cases simultaneously, we focus on giving each client the level of care they deserve. Our diligent approach allows us to address every detail of your estate plan so that it aligns perfectly with your goals. 

Ready to take control of your future? Call us for proactive, personalized service in Knoxville, Tennessee, or Farragut.