Legal Question in Wills and Trusts in Tennessee

Living Trust question - My wife and I have no children, a home owned by myself, and a home owned jointly, personal bank accounts, one stock investment account under my name, we each have a Roth IRA and my wife also has a SEP IRA, I have two life insurance policies and we each own a vehicle and personal items. Assuming one of us dies before the other, is a Living Trust a good solution to avoid probate and pass all property and wealth to the surviving spouse. (I believe that IRA's, 401's etc. can't be placed in a Trust).


Asked on 7/21/11, 6:37 am

1 Answer from Attorneys
Marshall Snyder Law Office Of Marshall Snyder

Living Trusts can avoid probate if all assets are titled in the name of the trust.

Probate, however, is a very efficient process in Tennessee. Still, some people prefer Living Trusts.

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Answered on 7/21/11, 8:19 am


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