WHAT IS A WILL?
A will is a document that states how your property will be distributed when you die. A will "speaks" at the time of your death. That is, the property distributions you decide to make in your will are not effective until your death.
WHAT PROPERTY CAN BE COVERED BY A WILL?
All real estate and personal property that you own can be transferred by a will, unless ownership is transferred automatically at your death. Property that is owned as "joint ownership with right of survivorship," or "pay on death" accounts are examples of property transferred automatically at the owner’s death. Likewise, proceeds of life insurance policies payable directly to a named beneficiary are transferred automatically. These types of property pass outside the estate: that is, they can be distributed to the survivors without probating a will.
WHY SHOULD I MAKE A WILL?
If you fall into any of the following categories, you need to consider making a will:
 | You want all or part of your property to pass to a friend or charity. |
| You want one heir out of several to inherit more or less than the others, or you want to disinherit an heir completely. |
| You have no immediate family and wish to have one distant relative inherit. |
| You wish to leave specific items ( heirlooms , for example) to specific persons. |
| You have minor children and wish to name a particular guardian for them. |
| You own real estate ,or a business or have substantial financial assets and need an estate plan to save on taxes. |
WHAT ARE THE LEGAL RIGHTS OF A SURVIVING SPOUSE ?
A spouse has the right to elect to take a percentage of the estate, according to state law, rather than taking what the will provides. This is called the elective share and varies from 10 percent to 40 percent of the estate, depending on how long the parties were married. Because of this state law, it is impossible to completely disinherit one’s spouse.
DO I NEED AN ATTORNEY TO MAKE A WILL?
It is possible in the state of Tennessee to make a will completely on your own. This is called a holographic will. It must be entirely in your own handwriting and signed and dated by you. Holographic wills need not be notarized or witnessed. There are two disadvantages to a holographic will. It may not be recognized in another state if you move. A holographic will that is submitted to probate must be proved by someone who recognizes your handwriting.
CAN A WILL BE CHANGED?
A will may be changed by adding a codicil. The codicil must meet the same requirements as a will to be valid. Never attempt to change a will by striking out some portions and writing in new ones. This may void your will.
WHAT IS A PERSONAL REPRESENTATIVE?
In your will, you should appoint a personal representative to make the distributions of property you desire. The personal representative should be a person over the age of 18 whom you trust to handle your affairs as you would.
WHAT IF I DON’T MAKE A WILL?
If you do not have a will, your property will pass to those persons who are considered your heirs under the laws of Tennessee. This is called intestate succession. In this case, the probate court will appoint an administrator to distribute your property.
WHO ARE MY HEIRS?
Tennessee laws protect the immediate family. After debts and expenses are paid out of your estate, the property subject to intestate succession will be distributed as follows:
| To your spouse and your children. |
| If you have no children, your spouse will inherit everything. |
| If your spouse dies before you, your children or their descendants take everything. Descendants share their deceased parent’s portion equally. |
| If you leave neither spouse nor children, your parents inherit in equal parts. |
| If your parents have also died before you, your brothers and sisters, or their children, will take your estate. |
If you die leaving no spouse, children, parents, brothers or sisters, your estate will pass to more distant relatives. Only if there are no relatives will your estate pass to the state.