Tennessee Code 35-15-508 – Removal or replacement power over trustee or other fiduciary not reachable by holder’s creditors – Interests of beneficiary who is also a trustee or other fiduciary not reachable
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Tennessee Code 35-15-508
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: means a person that has a present or future beneficial interest in a trust, vested or contingent. See Tennessee Code 35-15-103
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: means :
(A) A trustee, conservator, guardian, agent under any agency agreement or other instrument, an executor, personal representative or administrator of a decedent's estate, or any other party, including a trust advisor or a trust protector, who is acting in a fiduciary capacity for any person, trust, or estate. See Tennessee Code 35-15-103 - Person: means an individual. See Tennessee Code 35-15-103
- Reach: means , with respect to a distribution interest or any power held by anyone relative to a trust, to subject such distribution interest or such power to a judgment, decree, garnishment, attachment, execution, levy, creditor's bill or other legal, equitable, or administrative process, relief, or control of any court, tribunal, agency, or other entity that, by power of law, is provided with powers or jurisdiction similar to those described in this subdivision (25). See Tennessee Code 35-15-103
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional, and successor trustee, and a cotrustee. See Tennessee Code 35-15-103