Understanding the Year’s Allowance in Tennessee Estates
When a spouse dies in Tennessee, the surviving spouse has a right to a “year’s allowance” out of the decedent’s estate. This allowance ensures the surviving spouse can maintain a household for up to one year. Tennessee Code Annotated §30-2-101 defines the allowance and sets the rules for taking it.
What Is a Year’s Allowance?
The year’s allowance is a sum or certain property set aside from the estate for the support of the surviving spouse and minor children. It may include money and essential household goods. The allowance amount is fixed by statute or by the probate court to meet reasonable needs.
Do You Have to List Personal Property Assets?
Yes. To determine the estate’s value and the spouse’s year’s allowance, the personal representative must prepare and file an inventory that lists all personal property assets. Tennessee Code Annotated §30-2-109 requires filing an inventory within 60 days after letters of administration are issued. The inventory must include:
- Household furnishings and appliances
- Vehicles, boats, and recreational equipment
- Bank accounts, stocks, and bonds
- Personal valuables such as jewelry and art
- Any other tangible or intangible personal property
Accurate listing is critical. The court uses the inventory to confirm the estate can fund the year’s allowance without depleting necessary assets.
How to Compile Your Inventory
- Gather documentation: bank statements, account titles, appraisals.
- Itemize each asset: describe, date acquired, and estimated value.
- Attach supporting documents: statements, photographs, or receipts.
- File the inventory with the probate court within 60 days: see T.C.A. §30-2-109.
Key Steps for a Proper Year’s Allowance Process
- Consult the personal representative immediately after appointment.
- Request professional appraisals for high-value items.
- Maintain a detailed, up-to-date list of all personal property.
- File necessary documents by the statutory deadlines.
- Review Tennessee Code Annotated §30-2-101 for specific allowance amounts and types of property: T.C.A. §30-2-101.
Conclusion
Listing all personal property assets is mandatory when completing a year’s allowance in Tennessee. The inventory ensures the surviving spouse receives the proper support without jeopardizing estate assets. Accurate, thorough documentation and timely filing protect both the estate and the beneficiary.
Disclaimer: This article is for educational purposes only. It does not constitute legal advice. Consult a qualified Tennessee probate attorney to address your specific situation.