(a) Should any person entitled to the administration of an estate, or to the guardianship of any minor, or person found to be incompetent, fail or neglect to apply to the probate court having jurisdiction, and take out letters of administration and guardianship, within six (6) months after the death of the intestate, or within three (3) months after the settlement of the estate by the administrator, it shall be the duty of the administrator or guardian, provided for in this part immediately to enter upon the administration or guardianship of the estates, as the case may be, first applying to the probate court, for the necessary letters of administration or guardianship.
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Terms Used In Tennessee Code 30-1-404

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Inter vivos: Transfer of property from one living person to another living person.
  • Intestate: Dying without leaving a will.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Minor: means any person who has not attained eighteen (18) years of age. See Tennessee Code 1-3-105
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • Personal representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
  • Probate: Proving a will
  • Probate court: means the court having jurisdiction over the administration of the estates of decedents. See Tennessee Code 1-3-105
  • Remainderman: One entitled to the remainder of an estate after a particular reserved right or interest, such as a life tenancy, has expired.
  • Representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(b) Should any person entitled to serve as trustee under an inter vivos or testamentary instrument die, decline to serve or resign and if:

(1) There is no individual or corporate successor or substitute trustee designated by the instrument who is willing and qualified to serve;
(2) The instrument does not contain provisions for the appointment of a successor or substitute and no adult income beneficiary or vested remainderman petitions for the appointment of a successor or substitute trustee within three (3) months after there is a vacancy in office or all sooner waive this right; or
(3) The court in its discretion in a proceeding pursuant to § 35-15-414 determines that a small trust should not be terminated but a successor trustee should be appointed;

the court may appoint the public trustee who shall be granted letters of trusteeship and immediately enter into the administration of the trust, provided that the then market value of the trust estate does not exceed one hundred thousand dollars ($100,000). The public trustee shall file accountings with the court each twelve (12) months after the public trustee’s qualification.

(c) Upon motion of the personal representative, an interested party, or upon the court’s own motion, the probate court or chancery court may appoint the public receiver to determine the need for a temporary or permanent receiver. The public receiver must submit a report of its recommendations to the court, which report must be served via United States mail to the personal representative and all known interested parties. The report is subject to the same review as a report of a special master. Upon a hearing, the court may appoint a receiver with such powers as are necessary, consistent with those extended to receivers in absentees’ estates.
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