There is a newer version of this Section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).
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