by Tawnya Gilreath

The Silent Threat to Your Estate Plan

Estate and Business

It is common knowledge that everyone needs to have an estate plan in place. Commonly, the focus is on assets, taxes, and any changes to legislation that may affect the security of your loved ones in the event of your incapacity or death. What many often forget, however, is that changes in family dynamics and circumstances can threaten even the most well thought out estate plan. This silent threat can easily keep your estate plan from actually working when it is truly needed. Below are several situations where updating an existing estate plan or creating a plan for the first time is necessary to protect your loved ones. Read More

by Tawnya Gilreath

10 Types of Trusts: A Quick Look

The Law Office of Tawnya Gilreath

Considering the myriad of trusts available, creating an estate plan that works can seem daunting.  However, as business and estate planning attorneys, that’s what we do every day. For each of our clients, we design a plan which addresses their specific situation.

Here’s a look at the basics of ten common types of trusts used in estate planning to provide you with a general understanding. Read More

by Tawnya Gilreath

Do I Really Need a Will?

Estate and Business

A will puts you in charge of directing others on your wishes and distribution of assets upon your death. Without a will or other estate plan – referred to as intestacy – you have no control and your state’s rules determine who gets what after your death. Even if you have a trust, jointly owned property, or have named beneficiaries on your insurance, a will is important, even as just a “backup” plan. Read More

by Tawnya Gilreath

3 Reasons an Irrevocable Trust Should be Modified

Estate and Business

Many people believe that an irrevocable trust cannot be modified. However, changes in the law, family, trustees, and finances sometimes frustrate the trust maker’s original intent. Sometimes an error in the trust document itself is identified. When this happens, it makes sense to consider trust modifications, even when the trust is irrevocable. Here are three examples of when an irrevocable trust can, and should, be modified or terminated. Read More

by Tawnya Gilreath

5 Reasons to Decant a Trust

Estate and Business

Including trust decanting provisions in an irrevocable trust agreement or a revocable trust agreement that will become irrevocable at some time in the future is critical to the success and longevity of the trust. This will help to insure that the trust agreement has the flexibility necessary to avoid court intervention to fix a trust that no longer makes practical or economic sense. Read More