Frequently Asked Questions

Probate is a legal process that involves the distribution of a person's assets after their death. This process involves the payment of any outstanding debts and the transfer of property to the designated heirs. Probate can be a complex and time-consuming process, and it is important to seek the advice of an experienced attorney to ensure that everything is handled correctly.

One of the key components of the probate process is the will. A will is a legal document that outlines how a person's assets should be distributed after their death. It is important to have a will in place to ensure that your wishes are carried out and that your loved ones are taken care of. Without a will, the probate process can become much more complicated and contentious.

• Solely-Owned Property - Could include bank accounts, cars, houses, personal belongings and business interests. 
• Tenant in Common Property - The decedents share of the property 
• Interest in a Partnership or Corporation - The decedents interest depending on the partnership or shareholder agreements. 
• Investments - including stocks, bonds and mutual funds

Other assets that do not have to go through probate, such as: 

• Jointly-Owned Property - Will pass to the surviving owner
• Life Insurance Policies and Retirement Accounts - Will pass directly to the named beneficiaries
• Trust Assets - The trustee can distribute these assets to the named beneficiaries 
• Pay-on-Death and Transfer-on-Death Accounts - Tennessee allows for "pay-on-death" (POD) designations for bank accounts and "transfer-on-death" (TOD) designations for securities. These assets will pass directly to the named beneficiary.  

In Tennessee, the probate process generally follows these steps:

Filing a petition: A petition must be filed with the local probate court to either admit the will to probate and appoint the executor. Or, if there's no will, to appoint an administrator of the estate.

Notification: Next, notice is given to all heirs under the will or to statutory heirs (if no will exists), as well as to other interested parties, such as creditors.

Inventory of the estate: The executor/administrator then assembles, catalogs, and appraises the deceased person's assets. This is submitted to the court.

Payment of estate debts: Any outstanding obligations or debts of the deceased person are paid off from the estate's funds.

Distribution of the remaining assets: After all debts, taxes, and administrative costs have been paid, the remaining assets are distributed to the heirs or designated beneficiaries.

For personal property valued at $50,000 or less (not including real estate), a small estate affidavit can be used to transfer the property to the beneficiaries without going through probate, provided that no other probate proceedings have commenced and 45 days have passed since the decedent's death. 

Probate can be a lengthy process.  In Tennessee, it generally takes a minimum of six to twelve months, but it can extend beyond that, often lasting a year or more. Complex estates or disputes among beneficiaries can further lengthen the process. 

The executor named in the will, or the administrator appointed by the court if there's no will, is responsible for managing the probate process. The appointed representative, often with the help of an attorney, is tasked with inventorying the deceased's assets, paying off debts, filing taxes, and eventually distributing the remaining assets to the beneficiaries.