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As of October 15, 2026
A will says who gets your things and who looks after your kids. But many of your biggest accounts may skip the will entirely and go to whoever is named on the account. And two other papers matter while you're alive: a power of attorney for money and an advance directive for health care. This page lays out Tennessee's rules and the federal facts, with dates and sources, plus two calculators that only do math.
Not legal or tax advice. This page republishes what Tennessee statutes, Tennessee courts and agencies, the IRS, the FDIC, FINRA, the SEC and the CFPB publish, with dates. It does not write a will for you, pick a lawyer, or tell you what to leave to whom. Rules differ by state; for anything beyond the basics (real estate, blended families, a business, special needs, a large estate) talk with a licensed attorney in your state.
Any person of sound mind 18 or older may make a will in Tennessee (Tenn. Code § 32-1-102)
Typed will: you sign (or acknowledge) in front of at least two witnesses, who sign in front of you and each other (Tenn. Code § 32-1-104)
A will fully in your handwriting and signed needs no witnesses at signing, but two witnesses must later prove the handwriting (Tenn. Code § 32-1-105)
Not imposed for deaths in 2016 or later (TN Dept. of Revenue)
2026 federal estate tax basic exclusion (IRS: estate & gift tax)
2026 annual gift exclusion per recipient (IRS: estate & gift tax)
FDIC insurance for POD/trust deposits, up to 5 beneficiaries ($1,250,000) per owner per bank (FDIC: trust accounts)
Tennessee small-estate limit (probate personal property, no real estate) (TN Courts: small estates)
Find the row that matches you. The "best move" is the next document or check to do, from the cited law or agency. It is not legal advice and not a product pick.
| Your situation | Best first move | Why (source) |
|---|---|---|
| I have nothing in writing yet | Start with the two documents that work while you're alive: a health care advance directive (free Tennessee form) and a durable financial power of attorney. Then a will. Go | If you can't decide for yourself, the agent you name makes health decisions (§ 68-11-1803); a durable POA keeps working if you become incapacitated (§ 34-6-102). (TN Advance Directive form · Tenn. Code § 68-11-1803 · Tenn. Code § 34-6-102) |
| I have children under 18 | Make a will and name the guardian you want. Go | Tennessee courts consider, in order: a surviving parent, then the person a parent named in a will or other written document, then adult siblings, relatives, others (§ 34-2-103). The court still decides based on the child's best interests. (Tenn. Code § 34-2-103) |
| I'm married with children and have no will | Run the no-will split below. If that isn't what you want, make a will. Go | Without a will, your spouse gets the greater of one-third or one child's share, and your children share the rest (§ 31-2-104). (Tenn. Code § 31-2-104) |
| Most of what I own is bank, brokerage or retirement accounts | Check the beneficiary on every account first. Add POD (bank) or TOD (brokerage) beneficiaries where you want them. Go | FINRA: a TOD or other beneficiary document supersedes your will. TOD registration passes securities without probate (Investor.gov). (FINRA: TOD · Investor.gov: TOD) |
| I have a lot of cash at one bank with POD beneficiaries | Run the FDIC coverage check below. Go | FDIC: trust deposits (including POD) are insured up to $250,000 per eligible beneficiary, max $1,250,000 per owner per bank, all trust accounts at that bank combined. (FDIC: trust accounts) |
| I own a home in Tennessee and want it to skip probate | Talk with a Tennessee attorney about the options (for example how the deed is titled, or a trust). Go | We found no Tennessee transfer-on-death deed law. A 2025 bill to create one (SB 0984) stalled in the Senate Judiciary Committee. (TN SB 0984 (2025)) |
| A family member died with $50,000 or less (no real estate) | Ask the probate court about Tennessee's small-estate process. Go | Since April 28, 2023, Tennessee uses a sworn petition for limited letters, filed after 45 days, for probate personal property up to $50,000. Real estate is not covered. (TN Courts: small estates) |
| I'm worried about estate or inheritance tax | If your estate is well under $15 million, federal estate tax is unlikely to apply. Tennessee has none. Go | IRS: basic exclusion $15,000,000 for 2026 deaths. Tennessee: inheritance tax not imposed for deaths in 2016 or later. (IRS: estate & gift tax · TN Dept. of Revenue) |
Pure math on Tenn. Code § 31-2-104. Enter only what would pass under the no-will rules (leave out POD/TOD, joint-with-survivorship and beneficiary accounts). Assumes all children are living; it does not model a deceased child's children, the surviving spouse's year's support allowance, homestead or exempt property.
FDIC formula: owners × eligible beneficiaries (max 5) × $250,000 per owner, for all POD, living-trust and irrevocable-trust deposits at one bank combined. Assumes owners share equally (FDIC's default) and every beneficiary is a living person, charity or nonprofit. Your single and joint accounts are insured separately.
Tennessee law decides who inherits property that isn't covered by a will or a beneficiary form (Tenn. Code § 31-2-104):
| Who survives you | Who gets the no-will property |
|---|---|
| Spouse, no children or other descendants | Spouse gets everything |
| Spouse and children | Spouse gets the greater of 1/3 or one child's share; children split the rest (1 child: 1/2 each; 2 or more children: spouse 1/3) |
| Children, no spouse | Children equally (grandchildren of a deceased child take that child's share by representation) |
| No spouse or descendants | Parents equally; if none, brothers and sisters (and their children); then grandparents' sides |
Since April 1, 2024, the FDIC insures an owner's trust deposits (POD, living trust and most irrevocable trusts, combined at one bank) up to $250,000 per eligible beneficiary, max $1,250,000 per owner with 5 or more beneficiaries. FDIC example: 1 owner, 3 children, $800,000 at one bank → 1 × 3 × $250,000 = $750,000 insured, $50,000 uninsured. If an owner dies, coverage stays as if they were alive for six months (FDIC: trust accounts).
Since April 28, 2023, Tennessee replaced the old small-estate affidavit with a court process: a sworn petition for limited letters for a probate estate of personal property worth $50,000 or less. The petition generally can't be filed until 45 days after the death (the court can waive this), must list each asset, its value, and the creditors, and the limited letters give no authority over real estate (TN Courts: small estates). Accounts with a beneficiary, POD/TOD or survivorship generally aren't part of the probate estate.
A typed or printed will needs your signature and at least two witnesses, who sign in front of you and each other (Tenn. Code § 32-1-104). A will entirely in your handwriting and signed needs no witnesses at signing, but two witnesses must later prove the handwriting (§ 32-1-105).
Spouse and no descendants: the spouse gets everything. Spouse and children: the spouse gets the greater of one-third or a child's share and the children split the rest. No spouse: children equally, then parents, then brothers and sisters (Tenn. Code § 31-2-104).
Generally yes. FINRA says a TOD plan or other beneficiary document supersedes your will, so keep beneficiaries consistent with your wishes.
No. Tennessee's inheritance tax is not imposed for deaths in 2016 or later. The federal estate tax basic exclusion is $15,000,000 for 2026 deaths (IRS).
$250,000 per eligible beneficiary, up to $1,250,000 per owner per bank for all trust-category deposits combined (FDIC, rule effective April 1, 2024).
No. We republish statutes and agency guidance with dates and do math on numbers you enter. Talk with a licensed attorney in your state for your situation.
Estimates, not financial advice. Taxes, insurance, PMI and fees vary by lender, county and city; confirm with your lender, dealer and state agency before acting.