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Tenn. Code Ann. § 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

Known as the Tennessee Uniform Trust Code

The act spans §§ 35–35 (113 sections).

Acts 2013, ch. 390, § 23.

(1) 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.

(2) 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

(3) No court may foreclose against a beneficiary's interest described in subdivision (b)(1).

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.