Tuesday, September 22, 2009

Small estates in Tennessee

Usually, when a person dies, the decedent's family must open the estate and go through probate court. Many states, Tennessee included, provide for an easier and quicker alternative for smaller estates.

Tennessee law, Tennessee Code Annotated 30-4-102, provides for simplified probate when the value of the decedent's estate, under most circumstances, does not exceed $25,000. TCA 30-4-103 sets out the process by which a small estate can be administered.

Among the many differences between opening a probate in the usual manner and filing an affidavit for a small estate is that the filing fee for the small estate affidavit is much less expensive.

No comments: