How to File a Small Estate Affidavit in Tennessee

There are many different avenues to explore when estate planning in Tennessee. Certain people can take advantage of small estate affidavits to transfer their assets to their heirs after their death. It’s one of many options that could enable you to reduce the financial burden on your heirs from probate, depending on your financial situation. By learning how to file a small estate affidavit in Tennessee, you can determine how to most effectively take care of your assets.

What Is a Small Estate Affidavit?

As the name suggests, a small estate affidavit is a legal document that pertains to “small” estates. Its purpose is to transfer a deceased person’s assets from their estate to their heirs without going through the probate process. In fiscal year 2022-2023, there were 296 probate and trust cases in Tennessee. You can save time and money by avoiding this process and enjoy a smoother transition of assets.

Small estate affidavits can typically be used if an estate’s value is below a specific limit. In Tennessee, the estate cannot exceed $50,000, and the property must be the decedent’s personal property. This is a fairly low asset threshold when compared to many other states.

Real Property vs. Personal Property in Small Estate Affidavits

It’s important to note that small estate affidavits do not cover a person’s real property. Real property refers to land a person owns as well as anything permanently attached to it. Personal property, on the other hand, refers to anything movable, like clothing, furniture, vehicles, bank accounts, and similar assets.

Small estate affidavits exist to simplify the process of transferring assets, which is more practical with less permanent items. Real estate property can be a bit more complex, which is why real property is not included in small estate affidavits. Instead, a small estate affidavit can be used to claim a decedent’s personal property without the need for court intervention.

How to File a Small Estate Affidavit in Tennessee

You must typically wait 45 days from the passing of the decedent to file a small estate affidavit. This is to allow time to make sure all debts are accounted for before any assets are distributed. After you determine your eligibility to file and wait the designated time period, you can begin the process by filling out the proper paperwork.

In addition to filling out the small estate affidavit, you also must acquire a copy of the decedent’s will to submit your filing. Depending on the probate court and the details of the estate, you may have other requirements to meet, too. Be sure to do your research or work closely with an estate planning lawyer.

When you fill out a small estate affidavit, you must give descriptions of all property and assets to be transferred, information about the decedent, and any other information required under Tennessee law. There are a lot of specific pieces of information you must gather to file an affidavit, which is why working with a Tennessee estate planning lawyer can be beneficial.

After filing the affidavit with the appropriate probate court in Tennessee, the form is called a Petition for Limited Letters of Administration of a Small Estate and Order. Once it’s approved and notarized, you can take it to the person or institution holding the assets for them to be transferred.

FAQs

Q: What Are the Requirements for a Small Estate Affidavit in Tennessee?

A: In Tennessee, an estate can’t be worth more than $50,000 to qualify for a small estate affidavit. Moreover, the decedent must have been a Tennessee resident, and the estate cannot include any real property. You typically must wait 45 days after the decedent’s death to use a small estate affidavit, though it’s possible for the court to waive this mandatory waiting period.

Q: Do I Have to Work With an Attorney to File a Small Estate Affidavit in Tennessee?

A: You are legally permitted to file a small estate affidavit in Tennessee without the help of an attorney, but it’s recommended to work with a professional. Consulting a probate or estate planning lawyer can simplify the process and prevent issues with your filing. These attorneys are skilled at navigating Tennessee’s court system, so they can avoid the common mistakes that non-attorneys may make.

Q: Do All Estates Have to Go Through Probate in Tennessee?

A: Not all estates have to go through the probate process in Tennessee. Estates that are not required to go through probate include those with assets:

• In a living trust with named beneficiaries
• Jointly owned with a right of survivorship
• Filed through small estate affidavits

Having a will is not enough to avoid probate in Tennessee because the document has to be validated. Establishing a living trust or filing a small estate affidavit are two ways to avoid the probate process.

Q: How Much Does It Cost to File a Small Estate Affidavit in Tennessee?

A: The cost of filing a small estate affidavit in Tennessee depends on which county you’re filing in, whether the decedent had a will or not, and whether you need the affidavit notarized. Working with a Tennessee estate planning lawyer can increase costs up front, but their knowledge and skill can save you time and money in the long term.

Learn More About Your Options by Working With a Tennessee Estate Planning Lawyer

Navigating the process of filing a small estate affidavit can be challenging without the help of a skilled legal professional on your side. At Emmack Probate and Estate Law Group, our attorney, Shanone Emmack, can explain the details of estate planning and help you make the transfer of assets simple and stress-free.

If you’re considering filing a small business affidavit but have more questions about the process, please contact a member of our team. Whether you’re seeking legal advice or ready to go through the process, our team can guide you and establish a strong, legally enforceable estate plan to protect your assets and loved ones. You can contact our office to set up a consultation and learn more today.