Gallatin Wills Lawyer

Gallatin, Tennessee, with its charming and historic downtown, as well as its scenic Old Hickory Lake, boasts a blend of young families, older folks, and small businesses. No matter your age, health, or wealth status, having a will in place is essential. No one wants to think about what the end of their life may look like, but doing so can help ensure your loved ones are protected for years to come and a Gallatin wills lawyer can offer you the legal support and guidance needed.

At Phillips | Ralston, our team has been serving folks in the Gallatin area since 1977. We understand the local laws necessary when crafting a comprehensive will and can use that knowledge to benefit you and your loved ones. A will is the foundation of your estate plan and can outline many of your wishes to ensure that they are fulfilled after your passing. Without a will, complications may arise that could have been easily avoided with a will in place.

Defining a Gallatin Will

In the city of Gallatin, where 16.7% of the population is aged 65 or older, having a valid and legal will established is vital. Many folks may be under the impression that a will is only needed once they begin to grow older or if they own high-valued assets. This could not be more untrue. Anyone, regardless of their life circumstances, should have a will drafted and verified.

In a will, or a “last will and testament”, an individual is allowed to dictate how and to whom their assets and property will be distributed following their death. You may also designate certain charities to inherit parts of your estate, as well as name guardians for any minor children or disabled adult children who may be left behind should you pass away.

The main goal of your will is to carry out your wishes and a wills lawyer from Phillips | Ralston can ensure it does just that. In Gallatin, there are four main elements that a will needs to include in order for it to be considered legally valid. These requirements include:

• The will must be in writing, either typed, or handwritten, also known as a holographic will.
• The will must be signed by the individual who established the will, also known as the testator.
• The signing of the will must be witnessed by at least two individuals who are not beneficiaries of the will.
• The individual who creates the will must be at least 18 years of age.

What a Valid Will in Gallatin, TN Contains

When going to create your will, it is important to keep in mind all of the things a will can contain, or everything that can be provided for in this legal document. At Phillips | Ralston, we can review your life circumstances and help you better understand what your unique will should contain. For a will in Gallatin, the basic information it may contain can include the following:

• Your estate. In your will, you can list all of the assets, properties, and debts that, together, make up your overall estate. This can include all your owned real estate, investment or banking accounts, vehicles, jewelry, and other items of personal property. It can also include any loans, such as a house or vehicle loan, and any debts, like credit card debts or tax liabilities.
• Your estate’s executor. Within your will, you can name your estate’s executor, or the individual who will be in charge of settling your estate through the probate process. This individual can be a friend, family member, or third party professional, but whomever you choose, ensure that they are physically and mentally capable of the role. They will be in charge of distributing assets and paying off any estate debts after your death.
• The distribution and management of said estate. Your will can lay out all your estate expenses and debts and how these will be paid, in addition to how you wish your assets to be distributed. It can also name all gifts or donations to charity you would like to have made in the name of your estate after your passing.
• Named beneficiaries. One of the primary parts of your will be to name the beneficiaries, or heirs of your estate. You will have the ability to list who will gain which assets from your estate and set strict guidelines on how your executor will handle and distribute these assets.
• Guardian appointments for minor children. Should you leave behind any minor children, or adult children who are unable to care for themselves due to a disability or incapacitation, your will can name guardians to care for these children. This can help prevent your children being given to a guardian you do not approve of or an individual you do not believe will act in the best interest of your children.
• Funeral wishes. Finally, your will can dictate your wishes in regards to a funeral and burial or cremation. It can also outline how exactly these services will be paid for and by whom.

Mistakes That Can Make Your Will Invalid In Tennessee

In the United States, 67% of adults do not have an estate plan in place. This is a rather shocking number, because without a will, what becomes of your estate and your loved ones will be up to the intestate laws of Tennessee and your direct wishes may not be honored. Even if you do draft a will, there are several mistakes which can be made that would make that will invalid. Hiring a wills lawyer from Phillips | Ralston can help you avoid certain mistakes, such as:

• Your will was not witnessed and signed by at least two individuals who are not beneficiaries of the estate
• Drafting a will too late as challenges regarding the mental capacity of the testator may come into question during probate
• You forget to sign your will, making it invalid
• Not updating your will to reflect any changes in your life circumstances, such as a birth, death, marriage, or divorce

Speak to an Experienced Wills Lawyer Today

If you are considering establishing a will in Gallatin, Tennessee, it is vital that you work to comply with the law and ensure the will is valid. At Phillips | Ralston, our estate planning attorneys are here to help. Contact our offices today to set a consultation with our team and learn more about our estate planning services.