Tennessee § 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

Tennessee Statutes

§ 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

Tennessee § 35-15-508

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This text of Tennessee § 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) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 35-15-508 (2026).

Text

(a)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.

(b)Subject to § 35-15-504(b)(3) :

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

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(a) 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. (b) Subject to § 35-15-504(b)(3) : (1) 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 (2) No court may foreclose against a beneficiary's interest described in subdivision (b)(1).