Beyond Bending Tell You How
It’s a fact of life that we will all pass away eventually. However, many people fail to plan for what will happen to their assets after they’re gone. In Tennessee, if you die without a will, your property will be distributed according to state law. This process is known as intestate succession. While it may seem daunting, understanding how intestate succession works can help you make informed decisions about your estate plan.
In this guide, we’ll walk you through the basics of intestate succession in Tennessee. We’ll cover who inherits your property, how it’s divided, and what you can do to ensure your wishes are carried out after you’re gone.
Who Inherits Your Property?
When you die without a will in Tennessee, your property will be divided among your heirs according to state law. These heirs are determined by your relationship to them, and the order of priority is as follows:
| Relationship | Inheritance Order |
|---|---|
| Spouse but no children | Spouse receives entire estate |
| Spouse and children | Spouse receives 1/3 of estate; children share remaining 2/3 equally |
| Children but no spouse | Children share estate equally |
| Parents but no spouse or children | Parents share estate equally |
| Siblings but no spouse, children, or parents | Siblings share estate equally |
| Grandparents but no closer relatives | Grandparents share estate equally |
| Great-grandparents but no closer relatives | Great-grandparents share estate equally |
| No surviving relatives | Estate goes to the state of Tennessee |
If there are multiple heirs in the same category (such as multiple children), they will share the estate equally.
How is Your Property Divided?
Once your heirs have been determined, your property will be divided up according to state law. In Tennessee, this means that all of your property will be combined into what’s known as the “residuary estate.” This includes everything you owned at the time of your death, including real estate, personal property, and any financial assets.
Once the residuary estate has been established, it will be divided among your heirs based on their inheritance order (as outlined above). For example, if you had a spouse and two children, your spouse would receive 1/3 of the residuary estate, and your children would split the remaining 2/3 equally.
What Can You Do to Ensure Your Wishes are Carried Out?
If you want to ensure that your property is distributed in a specific way after you pass away, it’s important to create a will. A will allows you to name specific heirs and determine exactly how your property should be divided.
In addition to a will, you may also want to consider other estate planning tools, such as trusts, beneficiary designations, and powers of attorney. These can help you ensure that your wishes are carried out even if you become incapacitated or unable to make decisions for yourself.
Important Notes to Keep in Mind
Before we wrap up this guide, here are a few important notes to keep in mind:
- If you have joint assets (such as a joint bank account or jointly owned property), these assets will pass directly to the surviving owner(s) outside of the probate process.
- If you have debts, they will be paid off from your estate before any property is distributed to your heirs.
- If you have a child who is adopted by someone else, that child will no longer be considered an heir under Tennessee law.
- If you have a child who is born after your death, they will not be considered an heir under Tennessee law.
Conclusion
While it’s never pleasant to think about the end of our lives, it’s important to plan for what will happen to our assets when we’re gone. In Tennessee, if you die without a will, your property will be distributed according to state law. By understanding how intestate succession works, you can make informed decisions about your estate plan and ensure that your wishes are carried out after you pass away.
People Also Ask:
What is intestate succession?
Intestate succession is the process of distributing someone’s property after they die without a will. In Tennessee, intestate succession is governed by state law.
Who inherits property in Tennessee if there is no will?
In Tennessee, if you die without a will, your property will be distributed to your heirs according to state law. The order of priority is as follows: spouse, spouse and children, children, parents, siblings, grandparents, great-grandparents, state of Tennessee.
Can you change the way your property is distributed if you die without a will?
No, if you die without a will in Tennessee, your property will be distributed according to state law. The only way to ensure that your property is distributed in a specific way is to create a will.
What happens if there are no surviving relatives?
If there are no surviving relatives, your property will be distributed to the state of Tennessee.
