by Joel Roettger | Apr 3, 2017 | Asset Protection, Estate Planning
Irrevocability. A Tennessee Investment Services Trusts (TIST) is irrevocable, meaning that once it is executed it generally cannot be altered, amended, revoked, or terminated. As a result, it is very important that the trust provisions reflect your wishes. This is...
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 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...
