Notice: Notice must be given that a probate estate has been established. This notice is made to heirs and to creditors. The notice serves to start the time for potential creditors to file claims against the estate for debts that may have been owed prior to your loved one’s death. As the duly-appointed Personal Representative/Executor you are required to give notice to all heirs. This includes heirs who may receive under the decedent’s will or would receive under Tennessee’s intestate succession if there is or was not a will. The Personal Representative/Executor must file a sworn affidavit with the Court that this notice has been done.

Claims: In Tennessee creditors have 4 months from the date of publication of the notice to file claims in the estate. The Personal Representative/Executor can object or file “exceptions” to a claim and those claims can be denied by the Court upon a finding of good cause. The Personal Representative/Executor must also resolve or satisfy all claims before a Probate can be completed. Some claims are unsecured like credit cards.

Others may have priority over unsecured claims. Funeral costs are one such priority claim. There is one creditor that has a SUPER-PRIORITY status: TennCare. TennCare is required to seek recovery for any government Medicaid assistance that your loved one may have received as part of their end of life care. A release from TennCare is another requirement that must be filed with the Court before an estate can be closed. TennCare claims can be complex, especially if there is a surviving spouse. More information on these types of circumstances is available upon request. Tennessee has a statute of limitations for claims on the one-year anniversary of a decedent’s death.

Marshalling of Assets & Inventory: A Personal Representative/Executor also has a fiduciary duty to collect and protect all of the decedent’s assets that are property of his/her estate. A will may specifically provide that an inventory of these assets must be filed with the Court. Other wills may waive such an inventory.

Assets of the Estate: It is critical that a Personal Representative/Executor NOT commingle estate assets with others. A designated estate account should be opened which will have its own unique tax identification number called an EIN number. Barring a few limited exceptions, all of the liquid estate’s assets should remain in this account until a final distribution is authorized.

If a house or other real property is to be sold to benefit the estate, it will require an Order of the Probate Court before being sold. Most title companies will require a copy of the Court’s Order at closing. Some Courts, including Hamilton County’s Chancery Court have also started to require that the sale proceeds be paid into the Registry of the Court, or in the alternative that a bond be paid to secure the proceeds. It there is no requirement for Court approval then the sale proceeds for real property should be deposited into the designated estate account.
Are all assets probate assets? Not necessarily. Certain assets may not constitute probate assets. These include the following:

• Assets with ownership titled in the name of a Trust
• Life Insurance policies paid to a specific beneficiary and not the estate
• Accounts that include a POD or “Payable on Death”provision
  Jointly held property including property held as
• JointTenants with rights of survivorship or Tenancy by theEntireties
• Other pension and/or retirement benefits that have beneficiary designation

• Inventory/protect assets of the estate
• Satisfy/Resolve all claims of the estate;
• Satisfy Court and Attorney costs;
• Make distributions in accordance with the Will
• Final accountings
• File tax returns, if necessary

Maybe. Your loved one may have created a Trust as part of an estate planning package. If the assets were successfully re-titled in the name of the Trust prior to your loved one’s death, then there may be no need for probate administration. However, if this is the case a Trust administration may be required which still imposes some strict fiduciary requirements on the Trustee. More information can be provided about Trust administration upon request.

Small Estates: Tennessee law provides for a simpler probate procedure in the event that a loved one dies with less than $50,000.00 in assets. In this situation, a small estate can be filed. The Petitioner is known as the Affiant and makes an oath to the Court to pay and resolve all known valid debts and distribute assets correctly to relevant heirs. A small estate usually requires just one appearance in Court.

Will Contests: There are more so-called “blended” families today and conflicts among these family members are leading to an increase in the number of will contests and challenges filed in Probate Court. Some individuals don’t take time to prepare or update an estate plan to deal with stepchildren or a new spouse and it can lead to conflicts. Challenges as to the will maker’s (testator’s) capacity are also on the rise. Following the formality requirements when drafting a will can help in these circumstances.

Lost Will Proceedings: Unfortunately, if an original will cannot be located and there is only a copy of the will available, Tennessee law will presume that the original will was revoked by the will maker (testator). A lost will proceeding must be filed in Probate Court in order to prove a copy is a valid will which can be admitted to probate. This proceeding is much like a lawsuit and can be time consuming and expensive.