Lewis Thomason attorney Michael Goode recently presented “From Tee Box to Tax Trap: Estate Planning Hazards for Tennessee Attorneys,” a practical look at the federal tax issues that can arise in even routine Tennessee estate planning. Although Tennessee has no estate or inheritance tax, Michael discussed why that does not necessarily mean an estate plan is tax-free. His presentation addressed common pitfalls involving deed changes, basis step-up, recordation tax, revocable trusts, grantor trust provisions, and the post-death filing obligations that can catch successor trustees by surprise.
By highlighting these often-overlooked issues, Michael provided Tennessee attorneys with practical guidance to help them identify potential tax consequences before they become costly problems for clients.