Estate planning is about more than drafting wills and trusts it’s also about making sure your assets are properly titled. The way your property is owned, recorded, and structured can determine how smoothly it passes to your heirs, whether it’s exposed to creditors, and even what taxes may apply. At Champagne Law Firm, we often find that titling is one of the most overlooked but critical aspects of a solid estate plan.
What Does “Titling” Mean?
Titling refers to the legal form of ownership placed on your assets. This could include your home, bank accounts, vehicles, business interests, or investment accounts. Ownership can be in your name individually, jointly with a spouse, within a trust, or held through a business entity. Each method carries different rights and consequences.
Why Titling Matters
- Avoiding Probate
Some assets, such as jointly titled property with right of survivorship or accounts with beneficiary designations, pass automatically outside of probate. This can save time, money, and reduce stress for your loved ones. - Clarity of Ownership
Proper titling prevents disputes. Without clear ownership records, heirs may end up fighting over who inherits property, leading to costly legal battles. - Tax Consequences
Titling can affect estate and gift taxes, as well as capital gains treatment. For example, how you title real estate with your spouse could impact the step-up in basis your heirs receive. - Asset Protection
Certain titling structures can help shield assets from creditors or lawsuits. For business owners, proper titling may separate personal and business liabilities. - Coordination with Estate Documents
Even the best-drafted will or trust may fail if assets are not titled consistently. For instance, if you place property in a trust but forget to retitle the deed, it may still have to go through probate.
Common Mistakes in Asset Titling
- Forgetting to update titles after marriage, divorce, or the death of a spouse.
- Leaving beneficiary designations blank or outdated on retirement and insurance accounts.
- Titling assets in a way that conflicts with the intent of a will or trust.
- Overlooking business interests or jointly owned property in estate plans.
How Champagne Law Firm Can Help
At Champagne Law Firm, with offices in Sevierville, Nashville, and Rogersville, we work with clients to review how their assets are titled and align them with their overall estate planning goals. Attorney Kelly Champagne-Deutekom’s background as a former financial advisor and now estate planning attorney brings unique insight into how titles, designations, and ownership structures affect both legal and financial outcomes.
Taking the Next Step
Proper titling of assets ensures your estate plan works the way you intend. Don’t leave this critical detail unchecked.
Call Champagne Law Firm at 865-228-8080 or contact us online to schedule a consultation about asset titling and estate planning in Tennessee.
