Estate Planning and Probate | Stanford Legal, PLL

Precision Estate Planning

The High Cost of Avoidance

It is entirely human to shy away from thoughts of our inevitable passing, or the distressing possibility of becoming disabled and losing our decision-making abilities. Because confronting these realities is uncomfortable, estate planning is widely ignored and pushed to the bottom of the to-do list.

However, establishing a plan is a critical insurance policy that costs pennies on the dollar compared to the alternatives. Without proactive planning, families are often forced into expensive and overly complicated probate proceedings or grueling court-ordered conservatorships, both of which can easily drain tens of thousands of dollars in attorney fees from the estate.

Protecting Your Life's Work

We spend our entire lives building our families, our businesses, and our wealth. Yet, many avoid estate planning because it forces us to confront our own mortality or the possibility of incapacity.

The reality is that precise estate planning is the most critical insurance policy you can possess against the inevitable difficult seasons of life. It is not just for the wealthy; it is for anyone who wants to protect their loved ones from chaos when they can no longer be there to guide them.

Without a legally binding plan, the State of Tennessee—and the court system—will dictate what happens to your hard-earned assets and who makes medical decisions on your behalf. Proper estate planning is the ultimate act of love, ensuring your family has a clear roadmap during their darkest hour.

Powers of Attorney

If a medical emergency leaves you unable to communicate, your family cannot simply step in to manage your affairs without legal authorization.

Without a Tennessee General Durable Power of Attorney (financial) and a Healthcare Power of Attorney, your family is forced into a public, expensive court process called a Conservatorship. They must essentially "sue" for the right to care for you, paying for petitioning attorneys, a court-appointed Guardian ad Litem, and expert witnesses—all out of your estate. This process often destroys family bonds.

Executing properly drafted powers of attorney acts as an immediate legal shield, keeping your family out of court and empowering those you trust to act on your behalf instantly.

Simple Wills vs.
Revocable Living Trusts
in Tennessee

The vehicle you choose to pass on your assets changes the timeline, cost, and privacy of your estate.

The Simple Will (Last Will and Testament)

The Pros: Less expensive to draft upfront and easily updated.
The Cons: A Will guarantees your family will go through Probate Court. In Tennessee, probate is public, involves a minimum four-month creditor period, and requires significant court and attorney fees before heirs receive their inheritance.

The Revocable Living Trust

(Tenn. Code Ann. § 35-15-602)

Under Tennessee law, a trust is presumptively revocable unless the document expressly states otherwise.

The Power to Revoke: Pursuant to T.C.A. § 35-15-103, you (the settlor) retain the power to revoke or amend the trust without the consent of a trustee or adverse parties.
The Pros: These trusts bypass probate entirely, saving months of time and maintaining total privacy. For multi-settlor trusts (such as those for spouses), surviving settlors retain the right to revoke their portion upon the death of the other (T.C.A. § 35-15-602).
Tangible Property: We utilize written lists to dispose of personal property (jewelry, heirlooms) within these trusts to ensure your wishes are followed without constant formal amendments (T.C.A. § 35-15-605).

Advanced Fortifications: Tennessee Irrevocable & Specialty Trusts

For high-net-worth individuals, business owners, or families with unique needs, Tennessee offers some of the most robust and flexible trust laws in the United States.

Asset Protection / Investment Services Trusts (Tenn. Code Ann. § 35-16-102): Created by the Tennessee Investment Services Act, this is an elite asset protection tool. It allows you to shield your own assets from future creditors and lawsuits while still retaining the right to receive certain distributions or income.
Spendthrift Trusts (Tenn. Code Ann. § 35-15-502): These provide a "lock-box" around an inheritance. By law, creditors cannot reach the trust assets or force distributions, protecting your heirs from their own financial mistakes or outside lawsuits.
Special Needs Trusts (Tenn. Code Ann. § 35-15-505): Specifically designed for disabled beneficiaries. These trusts provide enhanced protection, ensuring an inheritance supplements—rather than disqualifies—vital public benefits like Medicaid or SSI.
Directed Trusts (Tenn. Code Ann. § 35-15-1201): Tennessee’s framework is one of the nation’s best, allowing you to appoint "Trust Protectors" or "Advisors" who have the absolute power to direct the trustee on investments or distributions.
Pet Trusts (Tenn. Code Ann. § 35-15-408): In Tennessee, you can legally provide for your loyal companions for up to 90 years. This ensures your pets receive the specific care and veterinary attention you've dictated for the duration of their lives.
Noncharitable Purpose Trusts (Tenn. Code Ann./ § 35-15-409): Unique to Tennessee, these can last up to 360 years. They are often used for the perpetual maintenance of family estates, unique collections, or cemetery plots.
Charitable Trusts (T.C.A. § 35-15-405): We utilize the cy pres doctrine to ensure your philanthropic intent is honored even if the original charitable purpose becomes obsolete over time.
Gun Trusts: For owners of Title II weapons (NFA), we create specialized trusts to ensure legal compliance with federal regulations while providing for the safe and lawful transfer of these assets to your heirs.

Life happens, and sometimes it happens hard. Let us build the shield that protects your legacy for the next 360 years.

Precision Estate Planning

The High Cost of Avoidance

​

It is entirely human to shy away from thoughts of our inevitable passing, or the distressing possibility of becoming disabled and losing our decision-making abilities. Because confronting these realities is uncomfortable, estate planning is widely ignored and pushed to the bottom of the to-do list.

​

Protecting Your Life's Work

​

We spend our entire lives building our families, our businesses, and our wealth. Yet, many avoid estate planning because it forces us to confront our own mortality or the possibility of incapacity.

​

The reality is that precise estate planning is the most critical insurance policy you can possess against the inevitable difficult seasons of life. It is not just for the wealthy; it is for anyone who wants to protect their loved ones from chaos when they can no longer be there to guide them.

Powers of Attorney

If a medical emergency leaves you unable to communicate, your family cannot simply step in to manage your affairs without legal authorization.

Executing properly drafted powers of attorney acts as an immediate legal shield, keeping your family out of court and empowering those you trust to act on your behalf instantly.

Simple Wills vs. Revocable Living Trusts in Tennessee

The vehicle you choose to pass on your assets changes the timeline, cost, and privacy of your estate.

The Simple Will (Last Will and Testament)

​

The Pros: Less expensive to draft upfront and easily updated.

The Cons: A Will guarantees your family will go through Probate Court. In Tennessee, probate is public, involves a minimum four-month creditor period, and requires significant court and attorney fees before heirs receive their inheritance.

The Revocable Living Trust

(Tenn. Code Ann. § 35-15-602)

​

Under Tennessee law, a trust is presumptively revocable unless the document expressly states otherwise.

​

The Power to Revoke: Pursuant to T.C.A. § 35-15-103, you (the settlor) retain the power to revoke or amend the trust without the consent of a trustee or adverse parties.

The Pros: These trusts bypass probate entirely, saving months of time and maintaining total privacy. For multi-settlor trusts (such as those for spouses), surviving settlors retain the right to revoke their portion upon the death of the other (T.C.A. § 35-15-602).

Tangible Property: We utilize written lists to dispose of personal property (jewelry, heirlooms) within these trusts to ensure your wishes are followed without constant formal amendments (T.C.A. § 35-15-605).

Advanced Fortifications: Tennessee Irrevocable & Specialty Trusts

​

For high-net-worth individuals, business owners, or families with unique needs, Tennessee offers some of the most robust and flexible trust laws in the United States.

​

Spendthrift Trusts (Tenn. Code Ann. § 35-15-502): These provide a "lock-box" around an inheritance. By law, creditors cannot reach the trust assets or force distributions, protecting your heirs from their own financial mistakes or outside lawsuits.

Special Needs Trusts (Tenn. Code Ann. § 35-15-505): Specifically designed for disabled beneficiaries. These trusts provide enhanced protection, ensuring an inheritance supplements—rather than disqualifies—vital public benefits like Medicaid or SSI.

Directed Trusts (Tenn. Code Ann. § 35-15-1201): Tennessee’s framework is one of the nation’s best, allowing you to appoint "Trust Protectors" or "Advisors" who have the absolute power to direct the trustee on investments or distributions.

Pet Trusts (Tenn. Code Ann. § 35-15-408): In Tennessee, you can legally provide for your loyal companions for up to 90 years. This ensures your pets receive the specific care and veterinary attention you've dictated for the duration of their lives.

Noncharitable Purpose Trusts (Tenn. Code Ann./ § 35-15-409): Unique to Tennessee, these can last up to 360 years. They are often used for the perpetual maintenance of family estates, unique collections, or cemetery plots.

Charitable Trusts (T.C.A. § 35-15-405): We utilize the cy pres doctrine to ensure your philanthropic intent is honored even if the original charitable purpose becomes obsolete over time.

Gun Trusts: For owners of Title II weapons (NFA), we create specialized trusts to ensure legal compliance with federal regulations while providing for the safe and lawful transfer of these assets to your heirs.

​

Life happens, and sometimes it happens hard. Let us build the shield that protects your legacy for the next 360 years.

Simple Wills vs.
Revocable Living Trusts
in Tennessee