How many seniors in Chattanooga and the state as a whole are participating in estate planning?
If your loved one doesn’t have end-of-life documents, important decisions may be left to courts, which make their decisions based on state laws. An estate planning lawyer in Chattanooga can compile documents that outline your loved one’s preferences for a variety of possible events, such as medical emergencies, mental impairment, and more. The chart below reveals the IRS’ findings on trust returns in Tennessee:
In a state with over 1.1 million seniors, the data indicates that few elders over the age of 60 have planned for the future. With an estate planning attorney in Chattanooga, the senior in your life can take the steps they need to protect their wishes after they’ve passed on.
What are the main reasons that Chattanooga seniors don’t have a will or a living trust?
Creating a last will and testament can be uncomfortable and emotionally difficult. It requires a deep look at one’s mortality. Many people might find it daunting to spend time considering the end of their life. Further, there are decisions to be made that can be challenging and have an impact on the people in their lives. Below, you’ll find a list of the most common reasons seniors haven’t arranged a will or trust:
Popular responses for not having a will or living trust
- I haven’t gotten around to it
- I don’t have enough assets to leave anyone
- It is too expensive to set up
- I don’t know how to get a will or living trust
You can help the senior in your life take these steps by finding a skilled Chattanooga estate planning attorney who can help them create their will. While it can be easy to put off, it can quickly become too late. Tackling the task can bring peace of mind to your loved one as well, allowing them to feel confident their wishes will be respected.
How to choose the best estate planning attorney in Chattanooga
Choosing quality estate planning services is vital to ensuring that your loved one can work with someone reputable and experienced. Select a handful of options and eliminate those that are less than enthusiastic to offer references. Sit down for a conversation with prospective attorneys and bring the senior in your life with you so that they can see how they feel about them. Find out details about their pricing model, their experience with the kind of end-of-life documents your loved one requires, and go over your senior’s needs. For more information, visit our comprehensive guide to choosing an estate planning attorney.
Estate planning solutions for Chattanooga seniors
According to the Bank of America, $30 trillion is expected to be passed down from older Americans to ensuing generations over the next three decades. However, estate planning isn’t necessarily solely about passing down finances. Many areas of estate planning don’t involve money and focus primarily on property, health wishes, and other end-of-life decisions. An experienced estate planning attorney in Chattanooga can help your loved one create a plan that can protect their final wishes.
Putting off the end-of-life discussion can leave families wondering what to do when the time does come. With estate planning, the senior in your life can provide a guideline for their children and other relatives to follow, including funeral arrangements, paying off any debts, and more. Let us help you get started with options for a Chattanooga estate planning attorney today.
