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Commonly Asked Questions about Tennessee Estate Planning

Requirements include: 18 years of age. High School diploma or GED. 60 hours of Prelicensing fundamentals (CLI: Prelicense A + B) Pass the Tennessee State Exam. Complete 30-hour Course for New Affiliates. License affiliated with a Real Estate Broker. Fingerprinted Background Check.
While there is no legal requirement to retain an attorney to buy a house in Tennessee, it is nevertheless prudent. Buying a home is a huge investment and expense, and the process involves complex contract language and specific legal requirements that can benefit from a lawyers involvement.
Charitable trusts that are funded during lifetime can provide tax benefits during lifetime and at death. For the foregoing and many more reasons, a trust is a great will substitute. But a trust can also provide a smooth transition for the management of assets during the trustors lifetime, which a will cannot do.
In Tennessee, you can make a living trust to avoid probate for virtually any asset you ownreal estate, bank accounts, vehicles, and so on. You need to create a trust document (its similar to a will), naming someone to take over as trustee after your death (called a successor trustee).
Although Tennessee does not require hiring a real estate lawyer for a commercial or home closing, it is strongly recommended.
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. In cases where an estates assets are worth less than $50,000, a court administration process is available to distribute the assets.
Yes, you can! Just sell your house by owner in Tennessee, like 10% of all home sellers. FSBO saves you more than just moneyit saves you time too. 77% of FSBO homes sold within 2 weeks compared to the 4-12 weeks with an agent.