by Joel Roettger | Mar 30, 2017 | Asset Protection, Estate Planning
In order for a TIST to be effective for asset protection purposes, it must be administered by a “qualified trustee.” A qualified trustee is (a) a Tennessee resident or (b) a bank or trust company that is subject to supervision by the Tennessee Department of Financial...
by Joel Roettger | Mar 29, 2017 | Asset Protection, Retirement Assets
Yes: Except as provided in subsection (c), any funds or other assets payable to a participant or beneficiary from, or any interest of any participant or beneficiary in, a retirement plan which is qualified under §§ 401(a), 403(a), 403(b), 408 and 408A, or an Archer...
by Joel Roettger | Mar 28, 2017 | Asset Protection, Estate Planning
As previously noted, T.C.A. § 35-16-111 provides an exclusive list of powers that the grantor of a Tennessee Investment Services Trust (TIST) can retain without exposing trust assets to creditors. The grantor’s ability to remove and replace the trustee (or trust...
by Joel Roettger | Mar 27, 2017 | Asset Protection
Tennessee Investment Services Trusts, or TISTs, are domestic asset protection trusts established under Tennessee law. They allow individuals in high risk professions–doctors, lawyers, real estate developers, entrepreneurs, etc.–to put assets beyond the...
by Joel Roettger | Mar 26, 2017 | Estate Planning, Probate
At first glance, the answer might appear to be yes: Any person who is not a resident of this state or any corporation that is authorized to exercise fiduciary powers, but is not authorized to do business in this state and does not actually maintain an office in this...
