Detailed Answer

When a person dies, their bank accounts become part of their estate. In Tennessee, you generally must open probate to access and withdraw these funds. This process ensures a court oversees the distribution of assets under Tennessee probate law.

1. Determine if Probate Court Involvement Is Required

Probate lets the court appoint a personal representative who lawfully manages and distributes estate assets. Under Tennessee Code Annotated section 30-2-301, you must file a petition with the probate court in the county where the decedent lived to open a formal estate.

See Tennessee Code Annotated section 30-2-301: https://www.capitol.tn.gov/legislation/codetitle/30/chapter/2/section/301.html

2. Obtain Letters of Administration or Letters Testamentary

If the decedent left a valid will, an executor named in the will files for Letters Testamentary. If there is no will, an heir petitions for Letters of Administration. The court issues certified letters that authorize the representative to handle estate accounts.

3. Present Court-Issued Letters to the Bank

Take a certified copy of the Letters of Administration or Testamentary, the death certificate, and your ID to each bank where the decedent held accounts. By law, banks must accept these certified letters as proof of authority to access and disburse funds.

4. Use the Small Estate Affidavit for Estates Under $50,000

If the total value of the decedent’s personal property does not exceed $50,000, Tennessee Code Annotated section 30-2-306 allows heirs or beneficiaries to collect assets with a sworn affidavit instead of full probate. The affidavit requires:

• A death certificate
• Designation of heir or beneficiary status
• Sworn statement that estate value is under $50,000

See Tennessee Code Annotated section 30-2-306: https://www.capitol.tn.gov/legislation/codetitle/30/chapter/2/section/306.html

5. Account for and Distribute Funds

The personal representative must inventory all assets, pay valid debts and taxes, and file a final accounting with the court. After approval, the representative distributes remaining funds per the will or under Tennessee’s intestate succession rules found in Tennessee Code Annotated section 31-2-101.

Disclaimer: This article is for educational purposes only. It does not constitute legal advice. For advice specific to your situation, contact a licensed Tennessee attorney.

Helpful Hints

• Obtain multiple certified copies of the death certificate early in the process.
• Check if the decedent named payable-on-death beneficiaries—these bypass probate.
• Maintain clear records of all bank withdrawals and expenses.
• Keep copies of all filings with the probate court.
• Consult an estate attorney if the estate contains complex assets.