top of page
  • Cole Gorman

Enhancing estate planning outcomes: wills and trusts together

It’s an often-posed query in the estate planning realm: wills or trusts?

Many individuals and families in Tennessee and elsewhere spend considerable time and effort contemplating the question. It is not an uncommonly held view to deem those two planning instruments as operating in completely separate and distinct spheres. Some people even view wills and trusts in an either-or fashion. That is, they believe that only one of them can logically feature in an estate plan.

In fact, planners working closely with an experienced estate administration legal team often ultimately find that their personal strategies are optimally enhanced by both the creation of a will and one or more trusts.

A noted financial writer underscores that in a recent Forbes article, stating that, “Every estate should have a will and is likely to have at least one trust.” A combination of the two can help to tightly promote and powerfully advance planning objectives.

We certainly know that to be true at Cook Tillman Law Group. The deep legal team at our long-established Middle Tennessee law firm in Brentwood has for many years helped diverse and valued clients optimize their estate planning goals through an integrated will-trust strategy.

The sheer utility of a will for planners in virtually every case is strong and unquestioned. Indeed, wills serve as foundational instruments in estate planning.

Notably, trust creation relevant to specific needs can often augment the planning process and work seamlessly with will directives to ensure the fullest realization of a planner’s goals.

We welcome contacts to our firm concerning questions regarding wills, trusts and all other matters relevant to sound and tailored estate planning strategy.

1 view0 comments

Recent Posts

See All

Is there an estate tax or death tax in Tennessee?

As you begin planning your estate, you will need to consider not just who you trust to provide support for your loved ones and who should receive your property but also your responsibilities. Debts ca

Most people don’t have an estate plan

Did you know that most adults in this country do not have an estate plan? It should be a high priority since everyone will eventually need one. But studies have found that roughly 2/3 (or 67%) of the

Should a letter of intent be part of your estate plan?

You are probably familiar with the basic documents that comprise an estate plan. But you may not have heard of a letter of intent or know what is usually in it. Learning more about it can help you dec

bottom of page