Category Archives: Trust Law

Tennessee “Uniform” Trust Code Desk Reference

As a trust nerd, I love the Tennessee Uniform Trust Code. I like keep an up to date version of it as a desk reference for myself. I created it during law school for Judge Robert S. Benham at the Probate Court of Shelby County, Tennessee in 2010. I have kept it current ever since. The desk reference includes statutory commentary and is current through the most recent legislative session. I have also included my Tennessee trust and estate legislative update which includes comments on the 110th and 111th legislative sessions. The things I do for love. If you’d like to have a copy, CLICK HERE to download a .pdf.

Stay Tuned,

Rob Malin

Tennessee Trust and Estate Law Legislative Update (April 2019)

Update:

HB0675/SB0542 (Re Trusts and Guardianships) enacted as pc0197

HB0676/SB0699 (Re Trusts and Disclaimers) enacted as pc0340

HB0190/SB0174 (Re Executor’s Oath) enacted as pc0332

What follows is my summary of the Tennessee trust and estate bills from the current legislative session and the laws from the previous legislative session as presented to the Trust and Estate section of the Memphis Bar Association on April 24, 2019.

The copies of the two most significant bills that have passed both houses with my annotations can be found here (my summary is below):  SA0339  SB0542 Continue reading Tennessee Trust and Estate Law Legislative Update (April 2019)

Estate Planning for H-1B Workers: Part 2 – The US Death Tax and you.

mixture-69523_640If you are a in the US on an H-1B visa and have more than $60,000 in assets here, keep reading.  The United States Federal Estate Tax applies to you.  The tax will apply differently to you based on whether you intend to return to your home country or already consider the US home and you plan to stay.  Either way, the tax is very likely more a significant issue than you realize.  Planning is appropriate.  Continue reading Estate Planning for H-1B Workers: Part 2 – The US Death Tax and you.

Probate and Trust Bill Headed for Haslam’s Desk

Update: Read Public Chapter No. 290 here.

SA0426 which revises a number of areas of the Wills, Trusts and Probate statutes has cleared the Tennessee Senate and is headed to the Governor’s desk.  This bill updates law in the following areas:

This just in! Tennessee Tenancy by the Entirety Joint Revocable Trust

Codified as Public Chapter 829 and signed by Governor Haslam into law on April 29, 2014, a new form of joint trust is available for transfers to trusts on or after July 1, 2014.  Although the trust is not named by the statute, the trust substantially resembles the common law form of property known as tenancy by the entirety.  Some practitioners have appropriately referred to this trust as the “marital asset protection trust.”  I previously discussed this subject here and here, albeit briefly.

This statute has been codified as T.C.A. § 35-15-510.

Common law tenancy by the entirety.  Before I get into the finer points of the TE Trust, a refresher on how tenancy by the entirety works in general (and its benefits) is appropriate.  Continue reading This just in! Tennessee Tenancy by the Entirety Joint Revocable Trust

Governor Signs Tenancy by the Entirety Joint Trust into Law

Update: Click here to read more about the law.

I wrote about this new law in a prior post (click here to read). Its official, the law has now been signed into law by Governor Haslam and will come into effect on July 1, 2014.

Click here to read the law: Public Chapter 829.

Stay Tuned.

Rob Malin