Working With You To Address Probate And Estate Matters
If you have lost someone close to you, we at Tidwell & Associates understand the nature of loss. Our legal team carefully considers your feelings of loss and respects your lost loved one. We also ensure that this emotionally challenging event receives proper legal handling.
The probate and estate administration process can be complex and often confusing. A lawyer who fully understands all the applicable laws and steps in the process can make things easier. Based in Chattanooga, our firm handles the legal issues while you attend to your grief and healing.
The Probate Process
First and foremost, determine whether the decedent (loved one who passed) had a will. If so, secure the original as soon as possible. We will then examine several issues, including who the named executor is and whether they are willing to serve. If that person agrees to serve, provide them with the original will so they can retain counsel. The executor named in the will initiates probate. If the named executor refuses to serve and no successor executor is named, the next of kin usually steps in to serve.
If no will exists, any next of kin can file a petition for probate if needed.
If you accept the role of executor or agree to serve, identify what property the deceased owned at death. Did they own real estate properties, bank accounts or investments? Compile a list with approximate values to bring to your first meeting with an attorney.
In Tennessee, only married couples can jointly own their home under tenancy by the entirety. When this applies, the surviving spouse automatically inherits the marital piece of real estate upon the co-owner’s death without needing probate.
If possible, check whether any financial accounts list a co-owner or a person designated to receive the funds upon the owner’s death. These provisions, commonly called “pay at death” or “PAD” clauses, form part of the agreement between the deceased and the financial institution. Contract law enforces these without requiring probate.
You also need to gather any information or documents related to any debt the deceased left behind.
Seek legal advice if a dispute arises over a will.
Is Probate Necessary?
Discuss with your counsel whether probate is necessary. Often, it is not, primarily when assets are structured to pass to a designated heir without a court-appointed representative for the deceased. An executor of an estate legally steps into the deceased’s role to conduct legal affairs, such as selling real estate or transferring money to designated heirs. Other reasons for probate may include pending litigation, disputes among heirs, excessive debt or complex joint ownership of estate assets.
If probate is necessary, several types of probate exist, with the complexity and costs of the probate corresponding to the complexity of the estate’s issues.
If you serve as an executor, arrange to have the deceased’s mail and email forwarded to you and secure their computer and cellphone. These steps may help you locate assets or debts you might otherwise miss. Keep the phone active for a couple of months. Maintain access to the email address until the probate concludes. These serve as invaluable sources of information, particularly for finding assets. You must also open a bank account in the estate’s name. Your counsel will assist with all these tasks.
On a final note, maintain excellent records. We can suggest ways to keep accurate records, including using specific computer programs. Retain all canceled checks and receipts as proof of payment. Also, track the time you spend on these tasks. In most cases in Tennessee, the law entitles you to a fee.
Frequently Asked Questions
To help you better understand the probate process, here are answers to some common questions:
How long does the probate process take in Tennessee?
The probate process in Tennessee varies in duration depending on the estate’s complexity and any arising disputes. Simple estates may take six to 12 months to complete, while more complex estates with multiple assets, creditors or legal challenges can take 18 months or longer. Factors such as court schedules and the executor’s efficiency also affect the timeline.
What are the primary responsibilities of an executor?
An executor, a personal representative, manages the estate during probate. The executor submits the will to the probate court, notifies creditors and beneficiaries, lists and values estate assets, pays debts and taxes, resolves disputes, and distributes assets to beneficiaries as per the will or state law. The executor must act in the estate’s best interests and comply with legal requirements.
Do all assets need to go through probate?
Not all assets require probate. Assets that typically bypass probate include those in a trust, jointly owned property with survivorship rights, accounts with named beneficiaries like life insurance and retirement accounts, and some small estates that meet Tennessee’s simplified process rules. An attorney can help identify which assets require probate and streamline the process.
Can I handle probate independently, or must I hire an attorney?
You can manage probate independently, especially if the estate is small or straightforward. However, the process can be complex and time-consuming. Mistakes in filing documents, missing deadlines or mishandling disputes can cause delays or legal issues. An experienced probate attorney ensures compliance with Tennessee laws, reduces stress and prevents costly errors. Tidwell & Associates P.C., can provide guidance tailored to your situation.
Let Us Help You With Probate
If you have questions about the probate process, contact our firm today to schedule a consultation. Use our online contact form or call our office at 423-340-4222.