Page 13 - Cityview Magazine - July/August 2017
P. 13

Wills Do NOT Avoid Probate, They Guarantee It!
Most people think Wills avoid Probate! Wrong! So, how do you avoid Probate due to death? Answer: You have your assets in a proper testamentary instrument, a well dra ed Revocable Living Trust.
Many people believe they are saving money by doing a will or that a trust is too complicated. Au Contraire! A Will combined with Probate usually far exceeds the cost of a well dra ed Living Trust.
Good Estate Planning is, among other things, about protection and control. You accomplish this by having well dra ed trusts to house your estate as well as subsequent asset protection trusts for your chosen heirs, children, and grandchildren, a er your death.
If you trust your children/heirs, you dra  the Trust with latitude. If you don’t feel good about the heirs’ trustworthiness, you put
in safeguards so the bene ciary won’t run through the money. If you don’t trust the spouse of your heir, you need to put in extra safeguards so the former in-law, now out-law doesn’t lay their hands on your hard-earned family assets. And if you have a child with special needs you can address that as well. It’s not that di cult if your attorney really concentrates on this area. Those that dabble can be dangerous. Almost every attorney has some forms, but is not necessarily very pro cient. We do not use forms, but rather use state of the art so ware to customize each trust. I was always told to use the cra sman who works on an area all the time! So, I would look  rst for the attorneys who were voted the best by their peers.
Recently on the radio there is a  nancial counselor who has been railing about how much money has been spent on Probate and then tells how much Attorneys got from that. He goes on to say that he can get you a real good Will for around $600.00. That could be the most expensive $600.00 you would ever spend.
Contact our o ce at 690-5566 for information about “How Everyone Should Want to Give and Receive an Inheritance” or for information regarding our next seminar on asset protection, which was the focus of our article in last month’s Cityview magazine. Look for our web site at www.brycelawo
Contact my o ce for a free brochure and to  nd out when my next free seminar is to be given.
Philip J. Bryce, P.C.
Mr. Bryce was voted a Cityview Top Attorney in Elder Law, Estate Planning/Trusts, Income Tax/IRS Resolutions, and Wills/Probate for 2015–2017.
Certifications of Specialization are available to Tennessee lawyers in all areas of practice relating to or included in the areas of Civil Trial, Criminal Trial, Business Bankruptcy, Consumer Bankruptcy, Creditor’s Rights, Medical Malpractice, Legal Malpractice, Accounting Malpractice, Elder Law, Estate Planning and Family Law. Listing of related or included practice areas herein does not constitute or imply a representation of certification of specialization.
Philip J. Bryce, P.C
212 South Peters Road Knoxville, TN 37923 865-690-5566

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