Garn-St. Germain, Trusts, and the Due-On-Sale Clause

Trusts are a common estate planning tool used to meet a variety of estate planning goals. To maximize trust benefits, estate planning professionals frequently advise their clients to transfer real property into trusts. Placing real property in a trust can achieve estate planning goals like avoiding probate, reaping tax benefits, ensuring real property passes according to the client’s desires, and providing creditor protection.

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Statute of Limitations on Filing a Will Contest or Trust Contest in Tennessee

A variety of things can stand in the way of properly offering a will for probate or suing for breach of duties to a trust. One specifically of utmost importance is the statute of limitations. A statute of limitations is a statute, which prescribes a period, normally several years, which limits the time in which one can bring a cause of action.

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What Happens If I Own Property in Tennessee and Die Without a Will?

When a person dies intestate (without a valid will stating to whom the decedent’s property is to be distributed) in Tennessee,  property can be divided multiple ways depending on the number and types of heirs-at-law, the type of property ownership involved, and whether the decedent has any valid debts. Many factors are involved which is why it is essential to understand your intestacy rights under Tennessee law when a spouse, parent, or other family member dies without a valid will.

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