In Tennessee in the absence of a will, a surviving spouse inherits the entire estate unless the decedent and surviving spouse also share descendants, in which case the spouse and descendants equally share (but the spouse’s share cannot be less than one-third). Someone who dies without a will is called “intestate,” which invokes the strict laws of intestacy. Tennessee offers a simplified probate process for estates worth less than $25,000, which may begin 45 days after the decedent’s death, although that period may be waived in certain circumstances. Once a Tennessee will is proven, the executor can proceed to wrap up the estate, which includes collecting and protecting property, paying off debts, and then distributing assets. Probate is the court-supervised process of distributing the estate of a deceased person. In addition to providing the opportunity to direct asset distribution, a Tennessee last will and testament also allows the testator to make a charitable gift, create a trust for any person, name a legal guardian for minor children, or create a “pet trust” in order to provide for the care of an animal after its owner’s death.īefore the terms of a Tennessee last will and testament can be effectuated, the will must be proven in probate court. Because the outcome may not coincide with the decedent's (the person who passed away) wishes, it is generally advisable to create a last will and testament. Not to be confused with a will, a Tennessee, or advance directive, provides instructions should you become incapacitated and incapable of making decisions regarding your medical care.Īlthough a last will and testament is not legally required, without a will, state laws (called laws of intestacy) determine the distribution of an estate's assets. Tennessee wills permit the testator, the person writing the will, to provide for a spouse, children, other loved ones, and pets after his death as well as to name a personal representative for the estate. If you're worried that your contract might need to be notarized or witnessed, consult an experienced contracts attorney in your area.A last will and testament is an important step in planning the distribution of your estate (real and personal property) upon your death. In Florida, for example, deeds must have at least two witnesses (or be notarized) before being recorded and acknowledged as legally binding. However, each state may require special kinds of contracts (e.g., real estate deals, wills, and marriage agreements) to be witnessed by a third party in order to be binding.įor example, although not important to most businesses' operations, most states require at least two witnesses to be present for the signing of a will.Įmployers looking to close a deal on commercial real estate should be aware that some states require deeds or mortgages to be witnessed in order to be recorded by the state or county. Like notaries, witnesses aren't generally required in order for a contract to be legally enforceable. Having a notary present when these types of contracts are signed isn't necessary for the contract itself to be legal, but it may come in handy if the contract is ever disputed in court. These include real estate sales, wills, debt agreements, and real estate leases for over a year. Since this would only apply in the case of written contracts, a notarized contract could be especially important in agreements that must be in writing. Notarization can prove that a party who objects to the agreement was indeed the person who signed the contract. Notary publics serve an important function by verifying the identity of someone who signs an agreement and attesting to that person's signature. However, if a party who signed a business agreement decides to dispute that agreement in court, a notarized contract can help a great deal. Just like wills, there is generally no requirement that a contract be notarized in order to be legally binding. What Good Is Notarizing a Contract?Ī notary can play an important role in making sure that a contract is legally enforceable, even if notarization isn't necessary. There are, however, several good reasons to consider having a contract notarized or witnessed. The short answer is generally no: Business contracts typically don't need to be notarized or witnessed in order to be legally binding. When signing an agreement, business owners may sometimes wonder, "does my contract need to be notarized or witnessed?"
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