Podcast: An Overview of Tennessee Trust Law
Eddy R. Smith recently spoke on the ACTEC Trust and Estate Talk podcast about the options for those looking into trusts in the state of Tennessee. Below you will find the opening paragraphs of the transcript as well as a link to listen to the discussion or finish reading the transcript:
"This is Travis Hayes, ACTEC Fellow from Naples, Florida. Tennessee has aggressively modified its’ trust statutes over the last 20 years in an effort to be recognized as a top US trust jurisdiction. Today, you’ll be hearing from ACTEC Fellow Eddy Smith from Knoxville, Tennessee, who will review several features of Tennessee trust law as part of evaluating Tennessee as a trust jurisdiction. Welcome, Eddy."
"Thank you, Travis. I appreciate it. As Travis said, there have been a lot of changes in Tennessee trust law over the past 20 years, and they coalesce to create a lot of incentive for Tennesseans and those around the country to consider Tennessee trusts. Primarily, the far-reaching changes make it difficult for beneficiary’s creditors, including ex-spouses, to reach trust interests. Among the features available to all trusts, if a trust has a spendthrift provision, then no creditor or assignee of a beneficiary may force a distribution, even if the beneficiary has the right to enforce a mandatory distribution."
Click here to finish the podcast.