Tennessee Code 71-4-810 – Assets, income and distributions exempt from taxation, garnishment, attachment or assignment
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Terms Used In Tennessee Code 71-4-810
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Code: means §. See Tennessee Code 71-4-803
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- program: means the ABLE program that is a qualified program pursuant to and in compliance with the code, and that is created pursuant to this part. See Tennessee Code 71-4-803
- State: means the state of Tennessee. See Tennessee Code 71-4-803
Notwithstanding any other law to the contrary, all assets, income, and distributions of qualified ABLE programs as defined by the code, this part, or the laws of another state are exempt from any state, county, or municipal tax and shall not be subject to execution, attachment, or garnishment, nor shall any assignment thereof be enforceable in any court. This exemption shall include a qualified ABLE program defined in § 529A of the Internal Revenue Code ( 26 U.S.C. § 529A ), and shall include any properly authorized payments made to or by such funds.