A Guide to Creating Your Last Will and Testament in Tennessee

Last Will and Testaments are quite like maps. Just as a well-planned road trip requires a map, a well-planned life needs a Last Will and Testament that can direct your loved ones on what to do with your assets when you are gone.

With a Will in place, you can rest easy knowing that your family will be taken care of when you are no longer here to guide them.

Understanding the Last Will and Testament in Tennessee

Why Should I Create a Last Will and Testament in Tennessee?

There are multiple reasons why you should consider making a Last Will and Testament in Tennessee, such as:

Probate Process will be Simplified

Probate is the process of settling a property after a person dies without a Will. By having a valid Will, you can ensure that your property is settled quickly and the way you wish, as the process in probate court, can be costly and time-consuming.

Control Over the Distribution of Assets

A Will gives you the power to control who receives your assets after you pass away. A Will can be particularly helpful if you have specific wishes for distributing your assets or have minor children who need a guardian appointed.

Minimize Conflicts

Having a Will is a great way to minimize conflict among your loved ones or beneficiaries by clearly stating your wishes for the distribution of your property. This helps to avoid disputes and legal challenges after your death.

Peace of Mind

Having a Will in place can provide peace of mind, knowing that your wishes for the distribution of your assets will be carried out after you pass away.

Steps to Create a Last Will and Testament in Tennessee

The steps to create a Last Will and Testament in Tennessee are as follows:

Determine If You are Eligible to Create a Will

To create a Will in Tennessee, you must be 18 years old or more and of sound mind. It basically means that you must have the ability to understand what you are doing and the consequences of your actions.

Gather Information

Before you start writing your Will, you should gather information about your assets, debts, and people who you would like to inherit your property. This includes information about your bank accounts, personal property, investments, and any other assets that you own.

Choose Your Executor

Your executor will be the person who will be responsible for managing your property after you pass away. Make sure you choose someone whom you trust and who is capable of handling the responsibilities of being an executor. Your executor will also be responsible for distributing your assets and paying your debts.

Write the Will

Your Will should include the following information:

• A statement of Testamentary intent that states that the legal document is your Last Will and Testament. This indicates that these are your final wishes for the distribution of your property after you pass away.
• Include a list of your assets and debts that will help your executor understand what property and debts you have when settling your estate.
• If you want people or organizations to receive gifts from your estate after you pass away, make sure to include their names in your Will. This is where you should specify who you want to receive your gift and in what amounts.
• A statement regarding the appointment of an executor to let others know who you have chosen to manage your estate.
• A statement regarding the appointment of a guardian who will care for any minor children that you have in the event that both you and your spouse pass away.
• Your signature and the signature of two witnesses or more who are not the beneficiaries of your Will. The witnesses must be present when you sign the Will, and they must also sign the Will in your presence.

Store the Will

After creating the Will, make sure you store it in a safe place, such as with a trusted friend or family member or a safe deposit box. Make sure your executor knows where to find it when it’s time.

Related Article:

Are you sure you’re not missing out on anything in your Will?

What Occurs If I Die Without Having a Will in Tennessee?

If you pass away without a valid Will in Tennessee, the state will distribute your property according to the state law (intestacy). Intestacy laws determine how a person’s property is distributed if they pass away without a Will.

Is a Lawyer Needed to Make a Will in Tennessee?

While it is not necessary to have a lawyer to create Tennessee Wills, it is a good idea to consult with an attorney who provides legal services to ensure that your Will is valid and meets your specific needs.

An expert can help you understand the legal requirements for making a Last Will and Testament in Tennessee as well as other laws and regulations that may apply to your situation. They can also help you to identify and address any potential issues that may arise and provide guidance on how to structure your Will to achieve your financial goals.

Is a Last Will and Testament Required to be Notarized in Tennessee?

It is not necessary for a Will to be notarized to be valid in Tennessee. However, a notarized Will can provide additional evidence of its authenticity and help to prevent disputes over the validity of the Will in the future.

Always remember that even though these legal documents don’t need to be notarized to be valid, they must be witnessed. The witnesses need to understand the contents of the Will and need to know about your property.

Updating and Revoking a Last Will in Tennessee

A Last Will and Testament can be updated or revoked at any time as long as the testator (the person creating the Will) has the mental capacity to do so. This is how you can update or revoke a Last Will and Testament:

Make a New Will

If you want to update a Last Will and Testament, you can make a new Will that will revoke the existing written Will and codicils. The new Will has to be executed with the same formalities as the original one. If the changes are few, a codicil can be used instead of making a new Will.

Revoke a Will by Physical Act

You can revoke a Last Will and Testament by physically destroying it with the intention of revoking it. It can be done by burning it, tearing it, or rendering it physically, so it becomes impossible to read.

Revoke a Will by making a subsequent Will

You can also revoke a Will by creating a subsequent Will that explicitly revokes all prior Wills and codicils.

Always remember that marriage, divorce, or other major life events may automatically revoke certain provisions in a Last Will and Testament. So, reviewing your Will after any major life changes is a good idea to ensure it still reflects your wishes.

It is also recommended to consult estate planning attorneys before you make changes to your Last Will and Testament to ensure it meets the requirements of Tennessee law and is properly executed.

Related Article:

Do you know when and how to change your Will?

Do I Need to Have a Will if I Have a Trust in Tennessee?

Having both a trust and a Will can provide added protection for your property and ensure your wishes are carried out. However, whether you need a Will if you already have a trust in Tennessee entirely depends on your specific circumstance.

Having a Will is recommended since it serves as a “catch-all” for any assets that you have overlooked or missed while creating your trust. It can also serve as a backup in case the trust is later deemed invalid for any reason.

For more legal resources on trusts in your specific state, click here.

FAQ

Disclaimer: This article is for informational purposes only and does not constitute legal advice. Please consult a qualified attorney for advice on your specific situation.