01
What is an estate plan, exactly?
An estate plan is a set of legal documents that tell the people around you — your family, your doctors, the courts — what you want to happen with your assets, your healthcare, and your dependents if you can no longer speak for yourself. That includes both end-of-life situations and times when you're temporarily incapacitated.
A typical estate plan combines several documents that work together: a will, often a trust, a durable power of attorney for finances, and an advance directive (also called a healthcare or living will). Done well, the plan answers the questions your family would otherwise have to guess at, and it keeps as much of the process as possible out of court.
02
Do I really need a will if I'm young and healthy?
Yes — and the answer is doubly yes if you have children, own property, or have specific people you want (or don't want) involved in decisions about your care or your estate.
Without a will, Tennessee law decides who inherits what and, more importantly, who is appointed guardian of any minor children. Those defaults rarely match what most parents would actually choose. A short, well-drafted will is one of the most cost-effective decisions a young adult can make.
03
What's the difference between a will and a trust?
Both direct what happens to your assets, but they operate differently. A will takes effect only at death and must be administered through probate court before assets can be distributed. A revocable living trust takes effect during your lifetime: you transfer assets into the trust, you still control them, and at death (or incapacity) a successor trustee can step in and distribute them according to your instructions — without court involvement.
Trusts are not always necessary, and they aren't free. They are particularly valuable when you own real estate, want privacy, have a blended family, have a child with special needs, or want to avoid probate in multiple states.
04
What is probate, and why do people try to avoid it?
Probate is the court-supervised process of validating a will, paying outstanding debts and taxes, and distributing assets to the people named in the will (or, if there's no will, to the relatives identified by state law). In Tennessee, the process is generally less painful than in some other states, but it still takes months, requires filings and notices, and is a matter of public record.
Most clients avoid probate not because it's catastrophic, but because the alternatives — trusts, beneficiary designations, joint ownership — are often faster, more private, and easier on the family during a difficult time.
05
What happens in Tennessee if I die without a will?
Dying without a will is called dying intestate. Tennessee's intestacy statutes then determine who inherits — a fixed formula based on whether you're survived by a spouse, children, parents, or siblings.
The statutes often produce results that surprise families: a surviving spouse who shares an estate with adult children, in-laws who unexpectedly become co-owners of family property, or distant relatives inheriting ahead of close friends or unmarried partners. If you want any say in those outcomes, you need a written plan.
06
What's a power of attorney, and do I need one?
A power of attorney (POA) authorizes another person to act on your behalf — most commonly to handle financial and legal matters if you're temporarily unable to do so yourself. A durable power of attorney remains in effect even after you become incapacitated, which is exactly when it's most needed.
Without a durable POA, family members often have no choice but to ask a court to appoint a conservator before they can pay your bills, manage your accounts, or sell property on your behalf. That process is public, expensive, and slow.
07
What's a healthcare directive — and isn't that something my doctor handles?
A healthcare directive (sometimes called an advance directive, living will, or healthcare power of attorney) is the document that tells doctors and family members what kind of medical care you do or don't want if you can't communicate. It also names the person you want making decisions on your behalf.
Hospitals can ask about directives when you're admitted, but they don't create one for you. The most useful directives are signed long before you need them and discussed openly with the person you've named.
08
Who should I choose as my executor or trustee?
The right executor or trustee is organized, even-tempered, and trustworthy with both money and family dynamics. They don't need to be a financial professional — they need to be willing to ask questions, follow instructions, and treat the work seriously.
For many families, a close family member is the right choice. For others — particularly when there's a blended family or significant business assets — a professional fiduciary or co-trustee can keep the process clean and reduce conflict.
From Tracy
The most common mistake I see is naming an executor or trustee out of seniority instead of suitability. Have the conversation with the person before you name them.
09
How often should I update my estate plan?
A good rule of thumb is every three to five years, and immediately after any major life event: marriage, divorce, a birth or death in the family, a move to a new state, a substantial change in assets, or starting or selling a business.
Many of the documents in a plan can be updated quickly — a new beneficiary designation or a short amendment to a trust — but they need to actually be updated. An outdated estate plan can be worse than no plan at all, because it leaves a written record of intentions that no longer reflect your wishes.
10
How much does estate planning cost?
Estate planning is one of the few legal services where the cost is usually predictable. Bothwell Law Office uses clear, flat fees for most planning work, so you'll know the price before any drafting begins.
The actual fee depends on what your plan needs to do. A straightforward will-based plan for a single individual sits at one end of the range; a multi-generational trust with business interests sits at the other. Tracy will quote a flat fee at the end of your initial consultation, after she has enough information to recommend the right structure.