Key Takeaways:
- Without an estate plan, Tennessee’s default intestacy laws — not you — decide who inherits your assets.
- If both parents die without naming a guardian, a Tennessee court decides who raises the children.
- Naming your own decision-makers now keeps that choice with your family, not the court.
Dan Widboom, Attorney at Linville Estate Law
According to a study done by Caring.com, more than half of Americans don’t have a will or estate plan. That means most families are unprepared for the legal and financial chaos that comes when the unexpected happens. Most people assume that if they don’t have an estate plan, nothing happens. But the truth is, a lot happens, probably just not what you would want.
Here’s what really happens when you don’t have a plan in place:
The Court Decides Everything for You
Without a will, Tennessee’s intestacy laws dictate who inherits, not you. Assets may go to relatives you wouldn’t choose, or exclude people (like stepchildren, partners, or charities) you care about.
Your family will not know if your wishes are being fulfilled, which can cause extra stress in a time when they are already grieving a loss.
Probate Gets Long and Expensive
Families must go through probate, a court-supervised process that can take months (or years), and is often paid for with money that comes out of the estate.
Not only is this a financial burden on the family, but this process can also cause a lot of stress and increase familial conflicts. When the wishes of the deceased were not made clear, it is common for the estate to be contested. Unfortunately, this often impacts relationships negatively.
Guardianship of Children Is Up to a Judge
If both parents pass without naming guardians, the court decides who raises your children.
This, of course, causes distress and uncertainty for the children and can spark disputes within the family. Kids may even end up in temporary foster care while the process plays out.
If you have minor children, it is essential to protect them by creating an estate plan.
No Say in Your Healthcare
Without power of attorney documents, either doctors make the decisions, or family members are left to fight over them.
If faced with incapacity, your wishes about life support, medical care, or end-of-life decisions may never be known. No one will want to make a hard decision for you. Offering clarity is a gift, so that your family can have peace knowing your wishes are being honored.
Your Legacy Is Lost
State law is blunt – it divides assets by a formula, not by values or intent.
Without a plan, charitable giving, special heirlooms, or personal wishes may never be honored. On top of that, a portion of your estate may go toward probate fees.
Everything you worked for is worth protecting.
Fortunately, avoiding probate is more straightforward than most people expect. By creating a simple estate plan, your assets can be protected and your family helped through a difficult time with less financial and emotional stress.
Having a plan is one of the most meaningful gifts you can give your family. If you are ready to take that step, click here to schedule a free 15-minute discovery call. We’re here to help make it simple.
