Estate Planning Laws in Tennessee.

A will must be in writing, signed by the testator (or another at the testator's direction in the testator's presence), and attested by at least 2 competent witnesses.

A holographic will is valid if wholly in the testator's handwriting and signed. Witnesses are NOT required.

Comprehensive trust code governing creation, modification, termination, and administration of trusts.

Tennessee has abolished the rule against perpetuities for trusts, permitting perpetual "dynasty" trusts.

Tennessee permits self-settled spendthrift trusts (TISTs). After a 2-year seasoning period, future creditors generally cannot reach trust assets — among the more protective domestic asset-protection-trust frameworks in the U.S.

Distinctive Tennessee statute permitting married couples to create a Tennessee Community Property Trust — treating contributed assets as community property for federal basis-step-up purposes. One of only a few states permitting elective community property.

Personal property of a decedent with aggregate value not exceeding $50,000 may be transferred by affidavit 45 days after death.

A surviving spouse may elect against the will and take a percentage of the estate varying by length of marriage (less than 3 years: 10%; 9+ years: 40%).

Tennessee has no estate tax and no inheritance tax.

Tennessee authorizes advance health-care directives combining living will and healthcare power of attorney.