One of the main problems family members encounter after the loss of a loved one, is the timely administration and distribution of the estate. Probate in Tennessee generally takes between 6 months and a year, and longer for larger estates. In cases where there are will challenges, or there are matters which require additional legal review, the process may be drawn out even longer. To help avoid an individual's estate getting stuck in probate, I recommend you consult with a Nashville probate attorney at my firm.
Not all assets and property are required to go through probate. Any property that was held jointly at the time of an individual's passing, any payable-on-death (POD) bank accounts, any assets which are listed on a transfer-on-death (TOD) form, all proceeds from life insurance policies, any retirement accounts that have assigned beneficiaries and assets held in a living trust, are not subject to probate and the waiting period. For those estates valued at less than $25,000, Tennessee also offers a simplified probate process which can save time, money and much frustration by streamlining the administration of the estate.
Creating a living trust or revocable living trust is a smart way to ensure your loved ones receive your estate, and all assets, exactly as you intended and allow them to avoid a lengthy and often costly probate process. Setting up POD accounts and establishing TOD beneficiaries will allow specific assets, vehicles and other property to go directly to your loved ones without the requirement of going through the probate process. Establishing joint ownership on property will help ensure the property goes directly into the hands of your fellow owner at the time of your death.
I, David Whittaker, have dedicated my life and firm to helping others resolve their probate-related needs. If you are running into difficulties with the probate process, or if you wish you avoid any future probate issues, or want to find out how you can take advantage of some of the alternatives to probate, I am here to help. I have an in-depth understanding on how the entire probate process works and I am proficient in probate alternatives, estate litigation, and resolving matters pertaining to inheritance rights and disputes.
Contact my firm today so I can review your current situation and advise you of your legal options.