Faith-based Estate Planning 101
People die without a will or unique estate plan in place
50% of households with children do not have a will.
69% of Americans have seriously considered drafting a will, but did not follow through.
95% of people want their property transferred to the person they choose.
What happens if you die without a will in Tennessee…
Intestate Succession – In Tennessee, if you don’t have a will, your assets are inherited by extended family members. If no such family exists, your assets go to the state government.
As Christians, we understand that God is the Creator and, therefor, the owner of all things. While we are on earth, we are merely managers of the things we have under our control.
Therefore Christians should plan where your assets will go after death.
Estate plans allow you to plan where your money and assets go when you no longer need them.
How the TBF Helps
As estate planning professionals we can help you walk through the main documents involved in planning your estate.
Last Will and Testament
A legal document that declares how property will be managed and distributed after a person’s death and names of the person or entity responsible for doing so.
Powers of Attorney
A legal document that names the person or entity who will manage your property or make healthcare decisions on your behalf.
Advance Care Plan
Functions as a Living Will for people that allows you to express your desires on important end-of-life decisions.
A legal document that provides for the management of your property for the benefit of a person or entity.
We get it. Estate planning wasn’t on your to-do list this week.
But we make it simple to get started.
SCHEDULE A BRIEF MEETING WITH US.
FILL OUT A FEW DOCUMENTS.
HAVE CONFIDENCE KNOWING YOU HAVE A PLAN IN PLACE.
Estate Plan Essentials
An estate Plan encompasses three main categories of documents: Last Will and Testament, Powers of Attorney, and Advanced Care Directives (Living Will).
1. Last Will and Testament
A last Will and Testament is a legal document that declares how property will be managed and distributed after a person’s death. It is essential for people to draft a Will to ensure that their assets are handled in a proper fashion. The Foundation can assist you in putting together a Faith0Based Estate Plan provided that a postion of your estate benefits a Baptist cause.
Just complete the Estate Planning Worksheet and submit this to the Foundation. We will contact you and help you in preparation of your Last Will and Testament. Download the form here.
2. Powers of Attorney
A Durable General Power of Attorney is a document that protects your interests in the event you become incapacitated or unable to make decisions. Everyone needs two of these Powers of Attorney, one for Financial matters and one for Healthcare matters.
The Foundation can assists you in getting these documents prepared. Just complete the Estate Planning Worksheet and submit this to us. Down the form here.
3. Advanced Care Plan (Living Will)
In Tennessee, the “Living Will” is now called the Advanced Care Plan. This document is used when a person has been diagnosed with a terminal illness and allows the individual to express their desires regarding important decision for end of life issues when they are unable to speak for themselves. This documents allows your family and medical professionals know how you would like to be treated at the end of life. It also allows a person to select a Health Care Agent to be their Health Care Power of Attorney.
All one has to do is fill out the Advanced Care Plan form and print. It needs to be either witnessed by two individuals or notarized to be valid. Make sure that your family and your physician have a copy of this form. Download the form here.