Bill > SB2184

This bill makes several changes to Tennessee civil law, primarily concerning property division and estate matters. First, it clarifies that the Uniform Partition Heirs Property Act, which provides specific rules for dividing jointly owned property, does not apply to situations where land is sold to cover the debts of a deceased person's estate. Second, it revises how a deceased person's total assets, known as the "gross estate," are calculated when determining the portion a surviving spouse is entitled to, known as the "elective share." This calculation will now align with federal estate tax rules, with specific exclusions for assets that would not have been subject to state inheritance tax prior to a certain law change, and life estates or trusts for the surviving spouse will be valued using actuarial methods. Finally, the bill makes a minor technical correction to the wording regarding petitions for the appointment of a conservator, a legal guardian for someone unable to manage their own affairs.

Justice

https://wapp.capitol.tn.gov/apps/Billinfo/Default?BillNumber=SB2184&ga=114