by Joel Roettger | Dec 26, 2019 | Estate Planning, Retirement Assets, Tax, Trusts
Estate planning for retirement assets just got more interesting. The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 was signed into law on December 20. It was passed as part of H.R. 1865, Further Consolidated Appropriations Act, 2020. The...
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 27, 2017 | Estate Planning, Trusts
As the previous post notes, a special rule applies to a support trust in which the settlor’s spouse is a beneficiary. In that case, the trustee shall consider the spouse’s other resources (i.e., assets outside of trust) before making a distribution. But...
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...
