Tennessee § 35-17-104 - Agreement establishing community property trust — Amendments and revocation.

§ 35-17-104. Agreement establishing community property trust — Amendments and revocation.

In the agreement establishing a community property trust, spouses may agree on: The rights and obligations in the property transferred to the trust, notwithstanding when and where the property is acquired or located; The management and control of the property transferred to the trust; The disposition of the property transferred to the trust on dissolution, death, or the occurrence or nonoccurrence of another event; The choice of law governing the interpretation of the trust; and Any other matter that affects the property transferred to the trust and does not violate public policy or a statute imposing a criminal penalty. Either spouse may amend a community property trust regarding the disposition of that spouse's one-half (½) share of the community property in the occurrence of such spouse's death. Except as provided in subdivision (b)(1), a community property trust may not be amended or revoked unless the agreement itself provides for amendment or revocation. Acts 2010, ch. 658, § 1. Law Reviews. Yes, Virginia, Tax Loopholes Still Exist: An Examination of the Tennessee Community Property Trust Act of 2010 (J. Paul Singleton), 42 U. Mem. L. Rev. 369 (2011).