Disclaimer: This information is for educational purposes only and does not constitute legal advice. For advice specific to your situation, consult an attorney licensed in Tennessee.
Detailed Answer
In Tennessee, a small estate affidavit lets heirs or creditors collect certain personal property without formal probate when the estate’s value does not exceed the statutory limit. Under Tennessee Code §30-2-101, the total value of the decedent’s personal property must not exceed $50,000. You must also wait at least 30 days after death and confirm no application for administration is pending. (See T.C.A. §30-2-101 and T.C.A. §30-2-102.)
Required Documents
- Certified Death Certificate: A certified copy issued by the Tennessee Department of Health.
- Small Estate Affidavit Form: A completed and notarized affidavit stating the decedent’s name, date of death, heirs or creditors, relationship to decedent, and a list of personal property with fair market values.
- Proof of Waiting Period: A declaration that 30 days have passed since death and that no probate administration has commenced.
- Copy of Will (if applicable): If the decedent left a will, attach a certified copy to the affidavit.
- Asset Documentation: Evidence of asset values, such as bank statements, brokerage statements, vehicle titles, or appraisal reports.
- Creditor Notice (optional): Proof of notice to known creditors if required by the institution holding the assets.
Filing the Affidavit
Present the notarized affidavit and attachments to the holder of each asset, such as a bank or financial institution. Some institutions may have their own affidavit forms; confirm their requirements before submission.
Helpful Hints
- Verify the current statutory limit before proceeding; inflation adjustments may apply.
- Check with each institution for specific affidavit forms or additional requirements.
- Keep copies of all documents for your records.
- Consider consulting an attorney if the estate includes real property or exceeds the small estate limit.
- Ensure all affidavits are properly notarized to avoid delays.