by Joel Roettger | Apr 12, 2018 | Asset Protection, Estate Planning, Trusts
Consider adding a testamentary limited power of appointment to make SLATs more effective. A spousal lifetime access trust, or SLAT, is a trust created by one spouse (grantor spouse) for the benefit of the other spouse (beneficiary spouse). The purpose of a SLAT is to...
by Joel Roettger | Mar 25, 2018 | Asset Protection, Estate Planning, Trusts
For reasons of privacy and asset protection, clients sometimes seek to conceal or obscure their ownership of real property. Tennessee law, however, does not make it easy to do so. One technique is to purchase real estate through an entity, such as a limited liability...
by Joel Roettger | Sep 14, 2017 | Asset Protection, Probate
The previous post discusses the inability of a decedent’s creditors to reach the proceeds of life insurance under Tennessee law. But what about the proceeds from other types of insurance? Are they exempt from creditors as well? Yes: There shall be exempt from...
by Joel Roettger | Sep 13, 2017 | Asset Protection, Probate
Are life insurance proceeds subject to the claims of the decedent’s creditors under Tennessee law? Consider two scenarios. In the first scenario, the proceeds are payable directly to the decedent’s spouse or children, bypassing probate. Not surprisingly,...
by Joel Roettger | Jun 27, 2017 | Asset Protection, Estate Planning
How much time must pass between the execution of a prenuptial agreement and the wedding of the parties in order for the agreement to be enforceable? That was one of the issues raised in a recent Tennessee Court of Appeals case. The case involved a prenuptial agreement...
by Joel Roettger | May 24, 2017 | Asset Protection, Estate Planning, Trusts
Can a revocable trust created by one spouse after marriage constitute an enforceable postnuptial agreement for divorce purposes? This question arose in a recent case decided by the Tennessee Court of Appeals. The facts are as follows: Husband and Wife were married in...
