Detailed Answer
When a decedent dies without a will (“intestate”) in Tennessee, state law determines who inherits. Protecting a minor’s share requires court oversight and specific procedures under Tennessee statutes. Below is an overview of key steps.
1. Intestate Succession in Tennessee
Under Tenn. Code Ann. § 30-2-101 et seq., a minor child inherits automatically. If the decedent leaves only minor children and no surviving spouse, the children share the entire estate equally. If there is a spouse and children, the spouse typically receives one-half and the children share the remainder.
2. Opening Probate and Appointing an Administrator
Because there’s no will naming an executor, a family member or other interested person must petition the county probate court to open intestate probate and appoint an administrator (Tenn. Code Ann. § 30-1-101 et seq.). The court issues Letters of Administration, giving the administrator authority to collect assets, pay valid debts, and distribute the estate per statute.
3. Appointment of a Guardian of the Estate
A minor cannot manage money. Under Tenn. Code Ann. § 34-1-121, the probate court must appoint a guardian (also called a conservator) for the minor’s share. The guardian files a petition, obtains a court order, and often must post a bond to protect the minor’s assets. The court supervises the guardian’s accounting.
4. Use of Blocked Accounts
Under Tenn. Code Ann. § 30-2-115, the minor’s inheritance may be placed in a “blocked account” at a bank. The funds remain inaccessible except by court order or when the minor reaches age 18 (or up to age 21 if approved by the court).
5. Custodial Management under UTMA
Tennessee adopted the Uniform Transfers to Minors Act (Tenn. Code Ann. § 35-19-101 et seq.). An interested adult may set up a UTMA custodial account, naming a custodian who controls investments and disbursements for the minor’s benefit until age 21. UTMA offers flexibility without full guardianship proceedings.
6. Final Distribution
When the minor turns 18 (or 21 under UTMA), the guardian or custodian petitions the court for final approval of accounts and distribution. The court signs an order releasing the remaining funds to the former minor, completing the process.
Helpful Hints
- Identify and contact the probate court in the decedent’s county promptly.
- Gather certified copies of the death certificate and minor’s birth certificate.
- File for Letters of Administration within 30 days to avoid delay.
- Consider a waiver of bond if a suitable surety is unavailable, but confirm court approval.
- Explore UTMA accounts for lower cost and less supervision than guardianship.
- Keep detailed records and receipts for all transactions as guardian or custodian.
- Note statutory deadlines for account filings and court reporting.
- Consult a probate attorney to ensure compliance with local probate rules and fee schedules.
Disclaimer: This article is for educational purposes only. It does not constitute legal advice. Consult an attorney for guidance on your specific situation.