LIVE WELL and BE REMEMBERED as the HERO you already are.

I'm currently reading (listening to) Finish, Give Yourself the Gift of Done by Jon Acuff.  Stacey Brown Randall recommended it.  (That's Stacey with an "e".)  It is such a great book. So often, our Perfectionism is the enemy to our achieving our goals.  For example, I have been trying to blog for a while now.  Everything has gotten in the way.  So often, if I can't get it perfect, I don't even take a step toward getting it done. How often does that happen to you?  How many more goals could you finish if you just started?  How successful would you be if you just took a step? I remember the day when someone in my family said "You see, we are Perfectionists."  It was explained to me like it was a good thing.  Now I know it's simply the enemy to progress.  In that same period in my life, I can remember trying to play baseball.  I remember standing over home plate and trying to make the perfect swing at the perfect pitch.  Wha...

  Recently I had a client pass away.  Before this happened, we did her planning.  Her relatives came to see me after her passing.  I was able to say "she had her affairs in order". She wasn't wealthy.  Too often I hear people say "Why should I care, I don't have anything anyway?"  Well, having the proper documentation in order makes it easier on those you leave behind, who have to make decisions for you.  So, do you care enough to leave a legacy of peace?  If so, get your planning in order today. 

  Let that title sink in a moment.   " Double Asset Protection" What I don't understand is why every Fraternal Insurance Company is not screaming this from all their advertising outlets. Your thinking: "The Insurance Nerd has really lost his mind this time." Well, maybe, but not on this point. Tennessee Code Annotated 56-7-203 states: The net amount payable under any policy of life insurance or under any annuity contract upon the life of any person made for the benefit of, or assigned to, the spouse and/or children, or dependent relatives of the persons, shall be exempt from all claim s of the creditors of the person arising out of or based upon any obligation created after January 1, 1932, whether or not the right to change the named beneficiary is reserved by or permitted to that person.  Emphasis Added That's the first layer.   So, any money in any permanent life insurance or annuity contract "upon the  life of any person made for the benefit o...

FREE Call-in Clinic  “Aging Well with Law & Insurance” When:    Saturday, July 10th from 10:00 am to noon Central. Where: (615) 497-0763 Who:    Tennessee residents only What: Free, one-on-one consult over the phone.   Speak with a licensed Tennessee attorney and insurance professional on: Annuities Asset Protection Charitable Giving Medicare Supplements Powers of Attorney Probate Life Insurance Trusts Long Term Care Wills Other?

I am an insurance nerd. I admit it.  My previous career was as a Property and Casualty Insurance Adjuster.  I reviewed a lot of policies and case law.  Tennessee law is quite clear when it comes to interpreting contractual insurance policy language.  Tennessee law will enforce it.   Very few policies have wording that's truly hard to understand.  So, the words on the page are pretty easy to figure out. In this recent case , the homeowner had moved out of the house and allowed someone else to move in.  IT HAPPENS ALL THE TIME.  The problem is that you have to make sure the insurer is aware and then something bad happens, like a fire.   The same goes for unoccupied residences, which often comes up in Probate cases.  Ignore the policy wording at your own peril!

I get this all the time.  Here's how the conversation goes: Me:         Are your Will and your Powers of Attorney documents up to date? Caller:      Yes, I bought them online ten (10) years ago. Me:        Was the Will typed or handwritten? Caller:     Typed. Me:          When you signed the Will, did you have two (2) witnesses? Caller:     No, just the notary. Me:          That does not sound like a valid Tennessee Will.  When would you like to come and see me? Caller:     Wait? What? But I paid the online service for it! The Tennessee statute for wills, other than handwritten, states: Tenn. Code Ann. 32-1-104: (a) The execution of a will, other than a holographic or nuncupative will, must be by the signature of the testator and of at least two (2) witnesses as follows: (1) The testator shall signify to the attesting witne...

Do you have your own business?  It's great, isn't it?  Making all those decisions.  Having to buy the staples and copier.  And your delightful relationship with your silent partner, the IRS. Once all the euphoria of the above has passed, what's your succession plan?   How's the business going to pass along to other generations?  If you drop dead or are disabled, will your family have to clean up the mess?  If you are in a business with others, what's the succession look like? Most business succession plans include some sort of buy-out .  Normally, no one really thinks about this after the initial attorney drafts it.  How would you fund the buy-out?  Are you going to sell business assets?  Are you going to run a business with someone's widow, child, or girlfriend?  Or, is their life insurance on the business owners to fund it? Have I blogged on this before?  Yes .  Does it bear repeating? Yes . If you are in a small bu...