Losing a loved one is a distressing experience. Many in Tennessee who are going through the grieving process will simultaneously be going through the probate process whether their loved one left a will or died intestate. This means a person will be selected to administer the deceased’s estate. The following is a brief overview of the types of estate administration in Tennessee.
Estate administration
When a person in Tennessee passes away, whether they left a will or died intestate, the court will appoint a representative to the estate. The representative is responsible for filing an inventory of the deceased’s assets, contacting the deceased’s creditors, identifying the deceased heirs and distributing estate assets, among other responsibilities. All of these steps must be completed with the permission of the court and all appropriate documents must be submitted to the court.
Estate administration can be complicated depending on the types of estate assets at issue, the number of debts the deceased held and the number of heirs involved. For this reason, many of those selected as representative to a decedent’s estate choose to work with a professional experienced in these matters.
Small estates
There is an alternative for small estates. A small estate is defined as an estate that is worth $50,000 or less and does not contain any real property. In this case, a small estate affidavit can be filed with the court 45 days following the date the deceased passed away. The affidavit must include the following information. It must include the deceased’s will if the deceased left one. It must list any unpaid debts and all the decedent’s property. It must include the name and contact information of anyone who has the decedent’s property now. It must also include the name, age, contact information and relationship of all those entitled to a share of the deceased’s estate. Finally, it must include whether notification will be provided to the creditors.
Learn more about estate administration in Tennessee
Estate administration is complex and should be undertaken with the help of a professional. This post is for educational purposes only and does not contain legal advice. Those who want to learn more about estate administration are encouraged to visit our firm’s website for further information.