There is a newer version
of
this Section
2020 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
§ 35-15-508. Removal or Replacement Power Over Trustee or Other Fiduciary Not Reachable by Holder's Creditors — Interests of Beneficiary Who Is Also a Trustee or Other Fiduciary Not Reachable
Universal Citation: TN Code § 35-15-508 (2020)
- No creditor or assignee of a beneficiary shall have the power to reach an interest of a beneficiary or any other person who holds an unconditional or conditional removal or replacement power over a trustee or other fiduciary. Such power over a trustee or other fiduciary is personal to the holder and shall not be exercised by the holder's creditors. No court shall direct a holder to exercise the power.
- Subject to § 35-15-504(b)(3):
- No creditor or assignee of a beneficiary may reach an interest of a beneficiary who is also a trustee, cotrustee or other fiduciary, or otherwise compel a distribution because the beneficiary is then serving as a trustee, cotrustee or other fiduciary; and
- No court may foreclose against a beneficiary's interest described in subdivision (b)(1).
Disclaimer: These codes may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
