Knowledge is a powerful tool in any aspect of life. And when you look to those pivotal moments in life, having the correct knowledge is so important, whether you are planning for marriage, children, retirement, long-term care, or the end of life. Learn the legal basics of Elder Law from the knowledgeable and friendly legal team at Parker, Toy & Associates, PLLC.
In hopes of providing important education to the public, we provide periodic workshops that are held throughout Middle Tennessee. Private workshops are available for groups and organizations that wish to provide more in-depth Elder Law information to their members.
Gain Knowledge on a Wide Range of Topics
The importance of having an estate plan
The importance of understanding how you own your possessions
How to decide between a Will or a Trust
The importance of planning for long-term care
How to avoid fiscal losses due to long-term care costs
How understanding the rules of TennCare and Veteran's Benefits can protect you and your loved ones from heartache
For 2016, the maximum exclusion for federal estate tax purposes is $5,450,000, and Tennessee currently no longer has a state inheritance or gift tax.
You should be aware that certain property, including real property, insurance proceeds, deposit accounts, stocks, and retirement fund, may be taxable or not taxable, depending on how legal title is held or beneficiary designation is made, or both.
Also, it is important to know that certain property may be transferred through several different means including, but not limited to, joint ownership of property with rights of survivorship, joint deposit accounts, beneficiary designations, or elections permitted under retirement plans, insurance policies, trusts, or wills.
Before creating any transfer through a living trust, revocable living trust, or otherwise, you should seek advice from an attorney, accountant, or other tax professional to determine the true tax impact and ensure that assets are properly transferred into any trust.
Tenn. Code Ann. § 47-18-104 (36)(B)
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About Parker, Toy & Associates, PLLC
For the very best in Elder Law and Social Security representation, reach out to the attorneys with over 40 years of combined experience
at Parker, Toy & Associates, PLLC.
Our locally owned law firm will work closely with you to ensure all of your specific needs are met.
The information on this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.