§ 35-17-104 — Agreement establishing community property trust - Amendments and revocation

Tennessee § 35-17-104

• Jurisdiction: Tennessee
• Title: 35

Text

(a) In the agreement establishing a community property trust, spouses may agree on: (1) The rights and obligations in the property transferred to the trust, notwithstanding when and where the property is acquired or located; (2) The management and control of the property transferred to the trust; (3) The disposition of the property transferred to the trust on dissolution, death, or the occurrence or nonoccurrence of another event; (4) The choice of law governing the interpretation of the trust; and (5) Any other matter that affects the property transferred to the trust and does not violate public policy or a statute imposing a criminal penalty. (b) (1) Either spouse may amend a community property trust regarding the disposition of that spouse's one-half (½) share of the community property in the occurrence of such spouse's death. (2) Except as provided in subdivision (b)(1), a community property trust may not be amended or revoked unless the agreement itself provides for amendment or revocation.

Legislative History

Acts 2010 , ch. 658, § 1.