See the property section for the statute's words.
Living trust or probate
A revocable living trust holds assets you title in the trustee's name. You can serve as trustee while you are able.
At death, the successor trustee handles those assets. Property you leave in your own name can still go through the probate court. A pour-over will sends leftover assets into the trust, and those leftover assets may pass through probate first.
Estate or inheritance tax
The Tennessee Department of Revenue states that inheritance tax is imposed on the value of the decedent's estate that exceeds the exemption amount applicable to the year of death, and that the inheritance tax is no longer imposed after December 31, 2015. The page says not to file for decedents with dates of death in 2016 or after. A separate official page on an estate tax, as distinct from this inheritance tax, was not opened.
Source: Tennessee Department of Revenue, Inheritance Tax
Property of spouses
Spouses in Tennessee may opt into community property.
The Tennessee General Assembly bill page states that House Bill 3863 was enacted as the Tennessee Community Property Trust Act of 2010, Public Chapter 658. The bill text on the legislature site states that this chapter shall be known as the Tennessee Community Property Trust Act of 2010, and that whether or not both, one, or neither spouse is domiciled in this state, spouses may classify any or all of their property as community property by transferring property to a community property trust and providing in the trust that the property is community property. All property owned by a community property trust will be community property during marriage.
Source: House Bill 3863, Tennessee Community Property Trust Act of 2010
Questions
The answers use the same statute and court pages as the sections above.
Does a living trust avoid probate in Tennessee?
A revocable living trust holds the assets you title in the trustee's name. The successor trustee handles those assets. Property still titled in your own name can be a probate matter. A pour-over will can send leftover assets into the trust, and those leftover assets may still pass through probate first.
Does Tennessee tax an estate or an inheritance?
The Tennessee Department of Revenue states that inheritance tax is imposed on the value of the decedent's estate that exceeds the exemption amount applicable to the year of death, and that the inheritance tax is no longer imposed after December 31, 2015. The page says not to file for decedents with dates of death in 2016 or after. A separate official page on an estate tax, as distinct from this inheritance tax, was not opened.
How does Tennessee treat property of spouses?
The Tennessee General Assembly bill page states that House Bill 3863 was enacted as the Tennessee Community Property Trust Act of 2010, Public Chapter 658. The bill text on the legislature site states that this chapter shall be known as the Tennessee Community Property Trust Act of 2010, and that whether or not both, one, or neither spouse is domiciled in this state, spouses may classify any or all of their property as community property by transferring property to a community property trust and providing in the trust that the property is community property. All property owned by a community property trust will be community property during marriage.
Sources
These are the statute and court pages used above.