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2017 Tennessee Code
Title 35 - Fiduciaries and Trust Estates
Chapter 15 - Tennessee Uniform Trust Code
Part 5 - Creditor's Claims -- Mandatory, Support and Discretionary Interests -- Effect of Spendthrift Provision.
§ 35-15-509. Judicial foreclosure of beneficial interests, powers of appointment, and reserved powers prohibited -- Certain reaches prohibited.
Universal Citation: TN Code § 35-15-509 (2017)
- Regardless of whether or not a trust contains a spendthrift provision:
- (1) No beneficial interest, power of appointment, or reserved power in a trust shall be judicially foreclosed;
- (2) No creditor or assignee shall reach a power of appointment or a remainder interest at the trust level and such creditor or assignee shall wait until any funds are distributed relative to such power of appointment or remainder interest before such creditor or assignee may reach such funds; and
- (3) No power of appointment is a property interest.
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