Estate planning in Tennessee: wills, trusts, probate and powers of attorney

Do I need a will or a trust in Tennessee?

A will names who receives your property and who manages your estate, but it usually has to go through probate court before anything is handed out.

A revocable living trust holds your property while you are living. You stay in charge as trustor and trustee and can change it anytime. If your home and accounts are placed in the trust (called funding), your successor trustee can pass them to your family without probate.

Many people have both: the trust for the property, and a short "pour-over" will that catches anything left outside it.

How does probate work in Tennessee, and how long does it take?

Probate is the court process that proves a will, pays debts and transfers what was in the person's name alone. It is handled through the county probate court, and the file is a public record.

Creditors generally have until the earlier of four months from the first published notice to creditors or twelve months from the date of death to file claims, so most estates stay open at least several months.

Smaller estates may qualify for a simpler process: a small estate affidavit can be used when the estate is $50,000 or less and no real estate is involved.

Does Tennessee have an inheritance tax or estate tax?

No. Tennessee's inheritance tax was repealed for deaths in 2016 and after, and Tennessee has no separate estate tax.

The federal estate tax still exists, but the basic exclusion amount is $15,000,000 per person for 2026, so it affects very few families. Planning still matters for probate, privacy and incapacity, even when no tax is due.

What happens if I can't make my own decisions?

A will does nothing while you are living. If you are in the hospital or unable to manage your affairs, the people around you need signed documents to act for you.

A health care power of attorney names who makes medical decisions for you. An advance care directive puts your treatment wishes in writing. A financial (durable) power of attorney names who can pay your bills and handle your accounts.

Without them, your family may have to ask a court to appoint a conservator, which is public, slower and more expensive than planning ahead.

What does it mean to fund a trust?

Funding means retitling property into the trust's name: recording a new deed for your home, and changing the owner or beneficiary on bank and investment accounts.

A trust that is signed but never funded can still leave your family in probate. It's the step most often missed, so Wynn walks every client through it.

How much does a revocable living trust cost with Legacy Estate and Insurance?

The complete trust package is $2,345. It includes your trust documents, a certificate of trust, a last will and testament, a power of attorney for health care, a power of attorney for finances, advance care directives, one property deed and a tabbed binder that keeps it all in one place.

Documents are typically ready in 7 to 10 days. Changes after life events are made without extra legal fees, and your personal estate plan review is free.

Who is Wynn Collins?

Wynn Collins is the founder of Legacy Estate and Insurance in Knoxville, Tennessee. She helps families with estate planning, retirement plan reviews, annuities and Medicare, and she teaches a free Will Awareness workshop built around drawing your family tree.

When you call or text, you reach Wynn herself, a real person. She meets in the office, in your home, or out, wherever is easiest.