How many seniors in Memphis and the state as a whole are participating in estate planning?
Estate planning allows us to take stock of our lives and evaluate our priorities. If your loved one hasn’t created a will or other relevant documents, their wishes may not be respected, whether in regards to emergency medical care, funeral arrangements, or other areas. An IRS study released in 2014 revealed the number of trusts filed in Tennessee:
In a state with a senior population surpassing 1.1 million, the overall number of returns filed indicates that not enough elder adults are making arrangements for their estate. Enlisting the guidance of a Memphis estate planning attorney allows your loved one to feel secure in their and their family’s future. They’ll be able to dictate the division of their estate and finances, as well as make medical and funeral arrangements.
What do seniors in Memphis name as the most important benefits of having one’s affairs in order?
There are many benefits that people enjoy when they make arrangements for the future after their passing, whether they intend to leave a legacy to their loved ones, divvy their finances amongst charities closest to their hearts, or otherwise handle their affairs. The chart below outlines the aspects seniors consider the most important when it comes to having one’s estate in order:
As the chart demonstrates, one of the greatest impacts of estate planning services in Memphis is the result it has on one’s family. Preparing for the future can bring relief in a variety of ways, allowing your loved one to feel a sense of security and freedom throughout their golden years.
How to choose the best estate planning attorney in Memphis
Selecting an experienced Memphis estate planning attorney can take some time; however, you can find an expert who can meet your loved one’s needs. Gather a list of options and begin to narrow them down. Strike off any prospects who aren’t happy to provide references. Once you’ve slimmed down your list of potential lawyers, you’ll want to arrange interviews to get a better understanding of their capabilities. During interviews, you should be sure that your loved one can spend some time engaging with their potential attorney to ensure that they are comfortable with the interaction.
It’s important to check out price points as well to ensure that the senior in your life can afford their services. A simple will in Tennessee can cost $300, with higher fees for more complex estates. Use our comprehensive guide to choosing an estate planning attorney to learn more information.
Estate planning solutions for Memphis seniors
An estate planning lawyer can help your loved one beyond merely drafting wills, trusts, and testaments. They can draw up advanced directives to outline your senior’s preferences in the event of a medical emergency, such as a coma or increased mental debilitation.
Let us help you explore your options for a local estate planning attorney today!
