Are there any limitations on what I can give away in a will?

Yes, there are limitations on what can be given away in a will in Tennessee. Generally speaking, in Tennessee, a will should be used to leave property to your successors upon your death. This can include tangible personal property such as cars, furniture, artwork and other items you possess. It can also be used to leave money or investments, such as stocks, bonds, and bank accounts. However, you cannot leave away real property, such as land or buildings, unless there is a joint owner listed on the property. This property must be passed on through a deed or other legal transfer. In addition, you cannot give away things such as life insurance policies and retirement accounts, since they are already designated to the person or persons of your choice. It is important to remember that you cannot give away anything that is contrary to public policy or illegal. For instance, you cannot leave someone under 18 a large sum of money without consulting a lawyer. Finally, you cannot give away anything that would be considered a “gift” in a will. This means you cannot leave money or property to someone with the expectation that they would return a favor. This is considered an illegal attempt to influence someone and may be voidable in a court of law. Therefore, when making a will in Tennessee, you should take into account the limitations on what can be given away. This will ensure that your wishes are properly carried out and that your property goes to the people and purposes that you intended.

Related FAQs

Can I make changes to a will after I have died?
How do I change the beneficiaries in a will?
How do I ensure my will is legally valid?
How do I designate a guardian in a will?
How long does it take to probate a will?
What is the value of an estate?
What is a holographic will?
What are the requirements for a valid will?
What is the difference between joint and single wills?
Can I make gifts in a will?

Related Blog Posts

Understanding Wills and Probate Law: The Basics - July 31, 2023
The Benefits of Establishing a Will: An Overview - August 7, 2023
Creating a Trust to Maximize Estate Planning Benefits - August 14, 2023
How Executors Handle Probate: A Step-by-Step Guide - August 21, 2023
The Difference between Wills and Living Trusts - August 28, 2023