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This is the process of legally validating a Will and qualifying a Personal Representative to administer the Estate. It is also the process by which property and assets are divided in case the deceased loved one did not have an estate plan or Will in place (absence of a Will). We can help you through this process and ensure that your loved one’s wishes are fulfilled.
During this process, not only are assets divided, but the debts of the deceased person are also paid. Creditors have the opportunity to file Claims against the Estate during the probate process in order to collect the money owed to them. Oftentimes, a good probate attorney can negotiate with the creditors to settle the debt for a lesser amount. Although this is a tough time for a family, Bobo, Hunt & White can help guide you through the legal intricacies of the probate process.
The word ‘probate’ is used herein to refer to the administration of a deceased person’s Estate. During this process, the deceased individual’s debts are settled, and any remaining assets are distributed according to the Decedent’s wishes. It is important to note that not all items go through the probate process. According to Tennessee law, the following assets are exempt from this process:
- Bank accounts payable on death
- Joint bank accounts
- Life insurance benefits that have a beneficiary named
- Property under joint ownership with rights of survivorship
- Retirement accounts
Benefit from Tennessee Probate Attorneys
Although not a legal requirement, engaging a Tennessee probate attorney helps. In addition, most Courts in Tennessee have Local Rules requiring a probate attorney, because probate attorneys know precisely which documents the Court requires to finalize the process thereby minimizing chance of mistakes during the probate process.
At Bobo, Hunt & White, we understand the Tennessee probate process can be long, precise and stressful. Having been in practice for more than three quarters of a century, you can trust us to handle all aspects of your family’s Estate administration. Get in touch with us today for specific information about your probate case.