Bill > SB2184

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