By order of the Probate Judge, the following Tennessee statute is provided as assistance and reference to all patrons of the General Sessions Court. The posting of this statute is not intended to be, nor should any person construe it as providing legal advice to any person. This office cannot provide legal advice, and if you need assistance with a legal matter, you are urged to consult with a licensed attorney.

When the only asset is Ten Thousand ($10,000) Dollars or less in a bank account; you may be able to forego Probate by the following Tennessee Code Annotated Law; please consult with the banking institution:

TCA: 45-2-708. Payment when no executor or administrator qualifies.

1. 1. Notwithstanding § 30-2-317, where no executor or administrator of a deceased depositor has qualified and given notice of the person's qualifications to the bank, the bank may, in its discretion, and at any time after thirty (30) days from the death of the depositor, pay out of all accounts, maintained with it by the depositor in an individual capacity, all sums that do not exceed fifteen thousand dollars ($15,000) in the aggregate:

      1. To the executor named in any will known to the bank; or

      2. In the absence of knowledge of a purported will naming a surviving executor to:

         1. A creditor for expenses of the funeral;

         2. A creditor for the expenses of the last illness;

         3. The surviving spouse; and

         4. The next of kin.

   2. In the case of conflicting claims, the order of priority shall be that set out in subdivision (a)(1)(B).

2. The receipt of any guardian, administrator or executor, duly appointed or qualified by the courts of this state, or any other state, acknowledging the payment or transfer of funds, standing in the name of the person whose estate the fiduciary represents, in the form of deposits in banking institutions, shall be a good and sufficient acquittance for payment or transfer and shall constitute a valid defense in favor of the banks against the demands or claims of all parties.

3. No bank shall be liable for damages, penalty or tax by reason of any payment made pursuant to this section.

TCA: 45-2-711. Payment and negotiation of check when no estate has been opened or the estate has been closed.

1. 1. Notwithstanding § 30-2-317, where no executor or administrator of a decedent has qualified and given notice of the person's qualifications to the bank, or where the qualified executor or administrator of a decedent has been discharged and a check or checks made payable to the decedent or the decedent's estate is presented to the bank for payment or collection, the bank may, in its discretion, and at any time after ninety (90) days from the death of the deceased, negotiate or send for collection and pay out the proceeds of one (1) or more checks made payable to the decedent or the decedent's estate, whether written or electronic, all sums that do not exceed ten thousand dollars ($10,000) in the aggregate:

      1. To the executor named in any will known to the bank whether probated or not;

      2. To any personal representative appointed by a court whether active or discharged; or

      3. In the absence of knowledge of a purported will naming a surviving executor or an administrator to the:

         1. Surviving spouse; or

         2. Next of kin.

   2. In the case of conflicting claims, the order of priority shall be that set out in subdivision (a)(1).

2. The receipt of any guardian, administrator or executor, duly appointed or qualified by the courts of this state, or any other state, or of any spouse or next of kin acknowledging the negotiation, payment or transfer of funds of a check, standing in the name of the person whose estate the fiduciary represents, shall be a good and sufficient acquittance for payment or transfer and shall constitute a valid defense in favor of the bank against the demands or claims of all parties.

3. The negotiation or payment of a check under this section without an endorsement of the payee or with the endorsement of a person authorized by this section to negotiate the check shall not be a violation of or give rise to any claim under title 47, chapter 3 or 4.

4. No bank shall be liable for damages, penalty or tax by reason of any payment made pursuant to this section.