Small Estate Administration

If you need an estate administration, what is known as a “small estate administration” may be an option for you. A small estate administration is a quicker and simpler version of the probate process. While the probate court is still involved, it exerts less control over the settling of the estate.

Tennessee law provides for a small estate administration if the personal property totals under $50,000 and if no other person has filed a petition to probate the will. Personal property basically includes all belongings other than real estate or land. In addition, you are not able to include any property held jointly with right of survivorship.

The small estate procedure commences 45 days following the death of an individual. A filing fee is paid to the probate court where the deceased person legally resided. Also, an affidavit is filed to show certain aspects of the estate including: whether there is a will; a list of unpaid debts; itemized description of the property and anyone possessing the property; any insurance payable to the estate; anyone entitled to receive any property; and whether notice will be given to creditors. The court may require a bond. The court will then issue a certified copy to the affiant. The affiant is responsible for the management, distribution, and care of the property upon taking possession. The affiant will pay the required debts and then distribute the property accordingly.

Contact us at Legacy Lawyers Group to get started today.