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Assets Exempt from Probate Life insurance policies with named beneficiaries. Retirement accounts with designated beneficiaries. Jointly owned property with rights of survivorship. Assets held in a living trust.

Assets requiring probate in Tennessee include real estate, financial accounts, investments, tenancy in common assets, and personal property. Trusts, jointly held assets, payable-on-death items, vehicles, and small items like jewelry usually bypass probate.

Vehicles. Vehicles may bypass probate in Tennessee because they can be transferred directly to a beneficiary upon the owner's death through a Transfer-on-Death (TOD) or beneficiary designation. This allows for quicker and simpler transfer of ownership without the need for court intervention.

If you're an heir or a designated occupant, you may be allowed to stay in a home during probate. However, living in the house does not grant you ownership rights until the process is complete.

In Tennessee, you can make a living trust to avoid probate for virtually any asset you own?real estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).

How Much Does an Estate Have to Be Worth to Go to Probate? The state of Tennessee does provide an alternative to the traditional probate process. Small estates valued at $50,000 and no real property require the representative to provide: An affidavit outlining the estate's debts and assets.

This order of preference is as follows (if the person is willing and able to serve): (i) the spouse; (ii) next-of-kin (if there is more than one next-of-kin who petition to be appointed, the Court will decide who shall serve); and, if no such next-of-kin, a creditor of the estate who proves a legitimate debt may serve.

You cannot typically skip probate altogether unless you are dealing with a very small estate. In Tennessee, estates with basic checking and savings accounts worth less than $15,000 do not have to go through the probate process for those assets to be distributed to heirs.

Do you have to go to Probate Court in Tennessee? Many people think that if a person dies with a Will, that a visit to court with a probate lawyer is required, but that's not always the case. Wills don't always have to be presented in probate court.