P. Newman Bankston

P. Newman Bankston


Areas of Practice

Business Law: Corporate/LLC Taxation Estate Planning

Litigation: Estate Litigation and Probate

Contact

Phone: (865) 546-0500

Fax: (865) 525-5293

Email: NBankston@emlaw.com

Education

J.D., Concentration in Business Transactions, University of Tennessee, 2004

B.A. Business Administration, Furman University, 2000

Admissions

Tennessee, 2004

Shareholder

Newman Bankston practices in the following areas:

  • Estate Planning
  • Business Succession Planning
  • Estate, Inheritance, and Gift Tax
  • Estate Administration and Probate
  • Nonprofit and Tax-Exempt Entities
  • General Business Law

Newman’s primary focus is estate and business succession planning. He regularly works with clients to create a plan for passing their assets to the next generation, while minimizing the state and federal transfer taxes associated with such transactions. This consists of preparing wills, trusts, powers of attorney, and living wills for clients, as well as creating family limited liability entities. He also helps clients carry out their charitable aspirations by coordinating with nonprofit entities (i.e., private foundations, public charities, and donor advised funds) on a particular giving plan. Newman has assisted several nonprofits in their formation, application for tax-exempt status, and throughout their life cycle as a business.

Newman also represents executors, administrators, trustees, creditors and beneficiaries in the probate and trust administration process. This involves assisting both corporate and individual fiduciaries in the implementation of estate plans after death, and advising trustees, creditors, and beneficiaries on estate and trust issues. He regularly aids clients with state and federal inheritance, and estate and gift tax returns.

Newman was a member of the men’s soccer team while at Furman University, and served as the school’s Volunteers Coordinator for the Boys and Girls Club of Greenville, South Carolina. While in law school, he served as Executive Editor for Transactions: The Tennessee Journal of Business Law, and spent one term abroad studying law at Cambridge University’s Downing College.

Newman is a member of the Knoxville Estate Planning Council, as well as the Knoxville, Tennessee, and American Bar Associations.

Newman and his wife, Julie, have four children, Emelia, Oliver, Celia, and Lucy.