by Joel Roettger | Feb 13, 2019 | Probate, Trusts
What happens? Tennessee has a statute for that: The effect of a sentence of imprisonment in the penitentiary is to put an end to the right of the inmate to execute the office of executor, administrator or guardian, fiduciary or conservator, and operates as a removal...
by Joel Roettger | Nov 13, 2018 | Estate Planning, Probate, Tax, Trusts
No, but you would not know that from reading the statute. The 65-day rule is a taxpayer-friendly provision involving the income taxation of trusts and estates. It allows the trustee of a trust or executor of an estate to treat certain distributions made in one tax...
by Joel Roettger | Aug 21, 2018 | Estate Planning, Trusts
If you are considering converting an income-only trust to a unitrust, think again. As the name suggests, an income-only trust is one in which the current beneficiary has access to the net income, but not the principal, of the trust. Once a common feature of the trust...
by Joel Roettger | May 3, 2018 | Estate Planning, Probate
Tennessee has a statute for that. T.C.A. §§ 32-1-201 and 32-1-202 set forth the exclusive means of revoking a will under Tennessee law. As discussed in a previous post, Section 202 addresses revocation as a result of divorce or annulment. Section 201 lists four other...
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...
