Tenn. Code Ann. § 35-15-509

Judicial foreclosure of beneficial interests, powers of appointment, and reserved powers prohibited — Certain reaches prohibited

Known as the Tennessee Uniform Trust Code

The act spans §§ 35-15-1001 to 35-15-901 (113 sections).

Acts 2013, ch. 390, § 24.

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.

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.