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 Gift Generation Skipping Transfer Tax
  • Trust Administration and Probate
  • Trust and Estate Administration / Probate
  • Nonprofit and Tax-Exempt Entities
  • General Business Law

Newman’s primary focus is estate and business succession planning. He enjoys working with clients to create an efficient plan for passing their assets to the next generation, while minimizing transfer taxes associated with such transfers. This typically consists of preparing wills, trusts, powers of attorney, and living wills for clients, as well as creating family limited liability entities. He also enjoys assisting clients in implementing their charitable objectives by creating private foundations, public charities, and donor advised funds. Newman has assisted several nonprofits in their formation, application for tax-exempt status, and throughout their life cycle as a charity.

Newman 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 assists clients with the preparation of federal estate and gift tax returns.

Newman attended Furman University in 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 is the current President of the TBA Trust and Estate Planning Executive Counsel. He is also a member of the Tennessee Probate Study Group, whose purpose is to review and opine on proposed legislation before the Tennessee General Assembly on changes to the law affecting Probate matters.

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

While at Furman, Newman Enjoyed volunteering for the Boys and Girls Club and playing for the Men's Soccer Team.

P. Newman Bankston