Don’t Forget About Tax Free Retirement Planning
In the past year, we have been introduced to the Tennessee Investment Services Trust (TIST). As we have become more familiar with it, it has become more apparent to us that many of our clients could take advantage of this instrument to protect their assets.
It is an irrevocable trust. The grantor of the trust, while complying with certain aspects of the regulations, will transfer property while retaining rights to direct the investments, right to live in or possess real estate owned by the TIST and right to direct distribution of assets upon death of grantor.
Along the way, the Grantor can veto any proposed distribution to anther discretionary beneficiary AND replace and remove the trustee at any time. Clearly, there are other issues but the opportunity to protect assets should be considered.
We recommend you counsel with your attorney and reach out to James Adcox, who specializes in the area of estate and personal planning.
This material was prepared in conjunction with Legacy Law Group, PLLC
Legacy Law Group, PLLC
216 Centerview Drive, Suite 140
Brentwood, Tennessee 37027