by Joel Roettger | Nov 12, 2017 | Estate Planning, Probate
In a recent case, the Tennessee Court of Appeals found that a settlor failed in her do-it-yourself approach to estate planning. Decedent died in 2015. She left behind two daughters, a son, and two grandchildren. Presumably the grandchildren were the descendants of a...
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 20, 2017 | Estate Planning, Trusts
Consider the following scenario. A trust instrument provides that the trustee is authorized, but not required, to distribute income and principal for a beneficiary’s health, support, maintenance, and education. The beneficiary, who has significant assets of her...
by Joel Roettger | May 25, 2017 | Estate Planning, Probate, Trusts
A good Last Will and Testament will address the issue of children born after the document is executed. Nonetheless, the Tennessee Code has the situation covered: A child born after the making of a will, either before or after the death of the testator, inclusive of a...
by Joel Roettger | May 10, 2017 | Estate Planning, Trusts
Under the Tennessee Trust Code, is a trustee required to give beneficiaries information about their trust? Not necessarily. The general rule is expressed in T.C.A. §§ 35-15-813(a) and (b). By default, a trustee is required to: Notify current income beneficiaries and...
