LGBTQ Estate Planning
Monday, April 19th, 2021
People rarely enjoy talking about what will happen to their things when they die. But, especially if you belong to the LGBTQ community, you must. First, get a lawyer and draft your will. If you die without a will, state law will give your property to someone you are related to by blood. You […]
Read More »Post Divorce Budgets
Tuesday, April 30th, 2019
Budgeting income and expenses during and after a divorce can be tough. Held Law Firm works with clients to create solid post divorce budgets to help reduce that headache. Budgeting helps our clients prepare for the next stage of their life and find where they can cut costs. Or, they may find they have more […]
Read More »Do you need a prenuptial agreement?
Tuesday, April 16th, 2019
Do you need a prenuptial agreement? To determine the answer to that question, you should first understand what it is. A prenuptial agreement is a written contract entered into by couples before a marriage. It provides a disposition of assets and obligations in the event of a divorce. To obtain one in Tennessee, each party […]
Read More »Tax Changes and Divorce Planning
Saturday, November 10th, 2018
We’re entering a “new era” of divorce planning because of the Tax Cuts and Jobs Act (TCJA) of 2017. Rose Swanger, CFP®, RICP®, CDFA®, EA explains, “for new divorces that are finalized after Dec. 31, 2018, all alimony payments will be treated like child support payments, which are not deductible. Before, the alimony payor could deduct the amount of their alimony […]
Read More »Comprehensive Post-Divorce Checklist
Wednesday, March 21st, 2018
After your divorce has been finalized, you should draft a list of things that need to be accomplished post-divorce. The following list is not applicable to all divorces but a general review of the areas that you should consider in developing your own individualized post divorce list. Real Estate – Review your Marital Dissolution Agreement (MDA), […]
Read More »If parents don’t have a will, what happens if their child is orphaned?
Friday, December 8th, 2017
One of the first times many people think about estate planning is after the birth of a child. Whereas before you were not really concerned with who might inherit your CD collection or your vintage car, suddenly you are very concerned with what might happen to your child in the event of your death. If […]
Read More »Is my spouse entitled to my inherited assets?
Monday, November 20th, 2017
A commonly asked question is how an inheritance is handled during a divorce. Oftentimes, at the time a party received an inheritance, a divorce was not being contemplated, so no consideration is given to the use of the inheritance. Under the laws of the state of Tennessee, property inherited is considered separate property, which means […]
Read More »I’ve got a will, what other estate planning do I need?
Tuesday, October 17th, 2017
When thinking about planning for your estate, the first item that comes to mind is a Will, often called a Last Will and Testament. A Last Will and Testament is a document that states how you would like your property and assets to be distributed upon your death and may also state who you would […]
Read More »Will I incur tax penalties on my spouse’s 401k account?
Sunday, October 1st, 2017
During a divorce action, the parties’ assets and debts are valued and equitably divided either by the Court or by agreement. Two of the largest assets owned by many couples are the marital residence and retirement accounts. One question that is often asked is how can we divide a retirement account without incurring tax penalties? […]
Read More »Difference Between Separate and Marital Property
Sunday, August 27th, 2017
What is the difference between separate and marital property? If you are considering a divorce, you may wonder what property you will be entitled to if you divorce your spouse. During a marriage, oftentimes real property is acquired, pension and retirement accounts are created or increased and sometimes an inheritance is received. How and when […]
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