Q: Planning for the future, what is the process once my Mom passes? She only has home furnishings in a small rental home.
Mom has a will listing me as the Executor and me an my sister as the beneficiaries. She rents a small condo and her only debts are the monthly rent and utilities. Her bank account is joint account with with me. Her only assets are the personal property in the home (furnishings, kitchen ware, decorations, jewelry), should be less than $50K. No vehicle or investment accounts. Any stock certificates she has transfers upon death to others. My sister and I have a good relationship and will not be arguing over items. We will have decided on what keepsakes we want prior to her death. I need to return the condo empty to the landlord as soon as possible following her death so I don't have to keep paying rent and utilities on the place. Do I need to go through the small estate probate process in TN? If so, specifically what is that. Can I sell off or donate the contents of her home before the 45 day period?
A: It does not appear that Probate would accomplish anything in your situation. In fact, it would attract creditors.
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