Skilled Tennessee Attorneys Helping You Navigate The Complex Probate Process
When someone passes away, their estate typically goes through a legal process known as probate. This process validates the decedent’s will and passes down their assets to their heirs as specified in the will. The probate process may often be lengthy and complex, especially if the decedent did not leave a will, and many families dread having to navigate probate while still grieving their lost loved one.
At Hunter, Smith & Davis, LLP, our lawyers have years of experience in handling complex probate questions and concerns. Through our offices in Kingsport and Johnson City, we help families and individuals understand complex probate laws and follow the steps to ensure their loved one’s estate is transferred properly.
How Our Tri-Cities Area Probate Lawyers Can Help
If you’ve lost a loved one, the last thing you probably want to worry about is probate. However, it’s a crucial process that can’t be overlooked, as it helps transfer your loved one’s property onto the rightful heirs. If the decedent created an estate plan, they have already established how they want their assets distributed in their will. The will should also name the executor or personal representative of the estate, who will carry out probate tasks and duties.
A probate attorney can help the executor with these tasks, which may include:
- Identifying and locating assets
- Opening and managing a bank account for the estate
- Collecting life insurance policy proceeds
- Paying estate and income taxes
- Paying off debts and final estate bills
- Retitling the assets
- Getting assets appraised if necessary
- Distributing the assets to the beneficiaries
- Preparing and filing necessary probate documents
That’s not all. A probate attorney can also provide additional support when it comes to minimizing family conflicts, avoiding any legal claims against the estate and avoiding the estate from being rejected during probate. A probate lawyer is familiar with the rules and regulations of probate and estate administration, so they can help oversee the process and ensure the executor doesn’t make any mistakes that can cause the probate process from starting all over again.
The probate attorneys at Hunter, Smith & Davis, LLP, are experienced in probate and litigation, so they know what to expect from the probate process. They are committed to helping you go through this process as smoothly and efficiently as possible.
Do All Assets Go Through Probate In Tennessee?
No, not every asset is required to go through probate. Assets that generally go through probate include bank accounts held only in the decedent’s name, real estate that is owned alone by the decedent and tangible property such as clothing, jewelry and household furniture.
However, there are instances where assets do not go through probate. These types of assets may include:
- Bank accounts that have a Payable on Death or Transfer on Death order that states the name of the receiving beneficiary.
- Real estate property owned as joint tenants with right of survivorship, meaning the property will automatically pass onto the co-owner.
- Any property included in a living trust or revocable trust.
- Any retirement account or life insurance policies that have named designated beneficiaries.
Having a strong estate plan can help you protect assets that you don’t want to go through probate.
Consult With Our Experienced Probate Attorneys Today
If you’re struggling to navigate the probate process or you want to know how best to prepare for probate in the future, the knowledgeable probate attorneys at Hunter, Smith & Davis, LLP, can help. We represent clients throughout the Tri-Cities area and will proudly represent you too, so your probate experience is as stress-free as possible.
Call us today at 423-397-7471 or contact us online.