Estate planning is one of the most important steps you can take to protect your loved ones and your legacy. Yet many Tennesseans make errors that cause unnecessary stress, disputes, or delays in probate court. If you live in Sevierville, Gatlinburg, Pigeon Forge, Nashville or anywhere across East and Middle Tennessee, here are seven mistakes to avoid when planning your estate.
1. Not Having Any Estate Plan at All
The biggest mistake is simply not creating a plan. Without a will or trust, Tennessee’s intestacy laws decide who inherits your assets—not you. (Tennessee Intestacy Laws)
2. Relying Only on a Will
A will is important, but it doesn’t avoid probate. Many families benefit from trusts, which can streamline distribution, maintain privacy, and provide more control.
3. Forgetting to Update Your Plan
Life changes. Marriage, divorce, new children, or acquiring property all mean your estate plan should be reviewed regularly. Outdated plans often lead to unintended consequences.
4. Not Naming the Right Executor or Trustee
The person managing your estate should be trustworthy, organized, and capable. Choosing the wrong individual can cause delays and disputes.
5. Overlooking Beneficiary Designations
Retirement accounts, life insurance, and certain bank accounts pass directly to named beneficiaries. If you fail to update these designations, they can override your will.
6. Ignoring Tax Implications
While Tennessee has no state estate tax, federal estate tax may apply in larger estates. Proper planning can reduce or eliminate unnecessary tax burdens for your heirs.
7. Trying to Do It Alone
DIY forms and online templates often create more problems than they solve. An attorney can ensure your documents meet Tennessee’s legal requirements and reflect your personal goals.
At Champagne Law Firm, with offices in Sevierville, Nashville, and Rogersville, we help families across Tennessee design estate plans that protect their assets and reduce conflict. From drafting wills and trusts to reviewing beneficiary designations, we provide the guidance you need to safeguard your future.
Call Champagne Law Firm at 865-228-8080 or reach out online to schedule a consultation about estate planning in Tennessee.
