For parties involved in trustee negligence cases or cases involving trust losses, there is a Tennessee statute, the Tennessee Uniform Prudent Investor Act (which was adopted in Tennessee in 2002), which may well take center stage in the lawsuit. The purpose of the Uniform Prudent Investor Act was to codify,…
Sometimes, a dispute will arise after someone passes away regarding who is entitled to receive monies held by that person in a bank account or other type of account like a 401(k) account, money market account, mutual fund account, CD, or the like. Some beneficiaries or family members may have…
In a recent will contest and undue influence case decided by the Tennessee Court of Appeals, the Court of Appeals sustained the decision of the trial judge to set aside the verdict of the jury and to grant a new trial. The opinion of the court of appeals, which characterized…
In a recent case involving the interpretation of a will and a trust created in the will (a testamentary trust), the Tennessee Court of Appeals reversed the decision of a trial court that the corpus of the trust should be distributed to the brother of the deceased, and held that…
If a living person owes you money, under Tennessee law, generally, you have six years to file a breach of contract lawsuit against that person to collect your money. Once that person passes away, however, certain Tennessee laws set time deadlines for filing claims against estates. These laws may drastically…
Fairly frequently, we receive calls from people inquiring about their chances of having a will invalidated. Often, those persons believe that a will contest is in order because another relative, or person close to the deceased, unfairly influenced the terms of the will. A recent Tennessee case, which was decided…
A Tennessee case involving a father who, by all indications, intended that each of his three children share equally in his assets, illustrates the importance of paying careful attention to the specific language in a trust agreement. Here are the facts: • The father (“Father”) executed a living trust (“Trust”)…