Will and estate laws and regulations can get fairly complicated. Whether you’re figuring out who inherits your assets, what counts as a probate asset, or what closing documents you need to transfer ownership of a property, here are a few common questions and answers about these laws in Tennessee.

FAQ About Tennessee Estate Laws

How do I transfer assets to the next heir?

Your best bet to ensure a smooth transfer of assets to the next heir is with a will. A will that’s drawn up and filed with a lawyer is a legally binding document that ensures whatever assets you have are transferred to your desired heirs.

What if I die without a will?

This is called dying “intestate,” and there are laws that dictate who inherits your assets and how much of them the beneficiary is given. For example, if you’re married with no children, your spouse inherits everything. On the other hand, if you’re single with no children and at least one surviving parent, your parent will inherit your belongings.

How are beneficiaries selected?

You can choose whom to leave your assets to in the closing documents, which includes your will. Other accounts, like retirement or life insurance policies, will usually allow you to choose beneficiaries as well. This is why it’s important to have a will and designate beneficiaries, so you can ensure your assets go to those you choose, rather than those the state selects.

What is a probate asset?

Probate assets are those likely to require a more formal administrative process than usual. This typically includes legal moderators and government officials who will oversee the transfer of your assets. These include assets without named beneficiaries, assets in the decedent’s name that list another person as “tenants in common,” and retirement or life insurance accounts that contain the estate as the beneficiary.

Do I need an attorney for probate and heirship disputes?

Disputes about probate and heirship are best handled by a licensed attorney. These issues require detailed knowledge of the law and court processes. It is easy to miss a deadline or lose paperwork, so it’s best to leave the process in the hands of a qualified title company.

For help navigating probate, contact Chattanooga Title, Inc. in Hamilton County, TN, and the surrounding areas. With more than 30 years of experience providing title services, including closing documents, handling escrow fees, buying real estate, and more, this mortgage title company has the expertise you need to navigate Tennessee’s legal system. Call them at (423) 756-3057 to schedule an appointment or contact them on their website.