Tennessee’s Treatment of Pretermitted Children
The structure of a family tree can change quickly, especially for parents planning to have additional children. Can children born into the family after the execution of a Will still inherit from their parents? If a testator doesn’t provide for one of his or her children in the Will, is that child considered to be disinherited? Tennessee law answers these questions in a statute addressing the concept of an afterborn or “pretermitted child.” A pretermitted child is one that is born or adopted by the parent after a Will is executed by the parent and is not otherwise provided for
You Have an Estate Plan…But Does Your Business?
According to the U.S. Small Business Administration, approximately 28 million small businesses operate in our country today. Needless to say, small businesses owners have a direct impact on our economy, and also provide direct financial support for their families through their endeavors. Devoted to its day-to-day operations, small business owners often fail to consider the impact their death or incapacity would have on the future of their business, and in turn, how their families would be impacted in the absence of funds generated from their professional efforts. Without a plan for succession, family members may find themselves running the business with