Tennessee Code 34-1-122 – Distributions to persons other than minor – Gift program
Terms Used In Tennessee Code 34-1-122
- Court: means any court having jurisdiction to hear matters concerning guardians or conservators. See Tennessee Code 34-1-101
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Minor: means any person who has not attained eighteen (18) years of age and who has not otherwise been emancipated. See Tennessee Code 34-1-101
- Person: means any individual, nonhuman entity or governmental agency. See Tennessee Code 34-1-101
- Person with a disability: means any person eighteen (18) years of age or older determined by the court to be in need of partial or full supervision, protection, and assistance by reason of mental illness, physical illness or injury, developmental disability, or other mental or physical incapacity. See Tennessee Code 34-1-101
- Property: includes both personal and real property. See Tennessee Code 1-3-105
In considering expenditures of income or principal of the property of the minor or person with a disability, the court may authorize distributions to persons other than the minor or person with a disability if the court determines the expenditures are in the best interests of the minor or person with a disability. In making its decision, the court may consider whatever information the court deems relevant to its decision, keeping in mind its primary responsibility is for the care and maintenance of the minor or person with a disability and the person’s property. No gift program shall be authorized unless there is evidence the person with a disability established a gift program prior to becoming a person with a disability or, even though the person with a disability had not established a gift program, a gift program would reduce the person with a disability’s tax liability and would not jeopardize the person with a disability’s care and long-term well-being.