When Unclaimed Property is Presumed Abandoned

The following table summarizes when unclaimed property is presumed abandoned for purposes of the Tennessee Uniform Unclaimed Property Act: ASSET TIME ELAPSED AFTER TRIGGERING EVENT Traveler's Checks15 Years Stored Value Cards5 Years Money Orders7 Years Bonds3...

Year’s Support and Death of Surviving Spouse

As noted in the previous post, the death of the surviving spouse prior to filing for an elective share does not necessarily mean that she forfeits the right. But what about a year’s support? ¬†Is it also available if the surviving spouse dies before filing? The...

Elective Share and Death of Surviving Spouse

If the surviving spouse dies before filing for an elective share, does her right to dissent die with her? No: In the event the surviving spouse dies before the time for electing the elective share expires, the personal representative of the decedent’s surviving...

Anti-Lapse Statute Trumps Testator’s Intent

A recent Tennessee court of appeals case is a reminder that there are limits to how far the law on testator’s intent will take you. Who inherits under the following scenario? Decedent died in 2012. She left a will that¬†contained a simple direction: All the rest,...

“Property” Under the New Unclaimed Property Act

What constitutes “property” for purposes of the Revised Uniform Unclaimed Property Act? As noted in the previous post, Tennessee recently adopted the Revised Uniform Unclaimed Property Act. Under the Act, property is presumed abandoned if it goes unclaimed...