Protecting your hard-earned wealth and ensuring its longevity is more than just a financial strategy—it’s about peace of mind. At Foust & Foust, PLLC, we know how important it is to feel secure about your assets. That’s why we’re here to help you explore the benefits of a Tennessee Investment Services Trust (TIST). If you’ve been searching for a way to safeguard your investments while maintaining control, you’re in the right place.

What Is a Tennessee Investment Services Trust (TIST)?

A Tennessee Investment Services Trust, or TIST, is a self-settled asset protection trust unique to Tennessee. It’s designed to offer individuals a way to protect their assets from potential future creditors while keeping their wealth within their control. Unlike traditional trusts, a TIST allows the grantor (that’s you) to also be a beneficiary—a significant benefit that sets it apart from other types of trusts.

This is different from a Traditional Irrevocable Spendthrift Trust, which typically limits the grantor’s control and flexibility while still providing asset protection. 

Features of a TIST

  • Self-Settled Trust: You can transfer assets into the trust while still benefiting from them.
  • Directed Trust Structure: The roles of the grantor, trustee, and investment advisor work together to ensure smooth management.
  • Asset Protection: Provides protection against future creditors and lawsuits.
  • Investment Flexibility: Allows diverse assets, including real estate, business interests, securities, and more.
  • Tax Efficiency: Offers potential tax advantages, depending on your situation.

How a Tennessee Investment Services Trust Works

Setting up a TIST is a strategic process that ensures your assets are protected and properly managed. Here’s a closer look at how it all comes together:

Asset Transfer Process

  1. Establish the Trust: Draft a trust agreement that complies with Tennessee law.
  2. Transfer Assets: Move your chosen assets into the trust.
  3. Tennessee Trustee: Appoint a qualified Tennessee resident or entity as the trustee.

Key Roles

  • Grantor: You create the trust and contribute your assets.
  • Trustee: This Tennessee-based individual or entity oversees the trust’s administration.
  • Investment Advisor: Guides investment decisions to align with your goals.

Who Can Benefit from a TIST?

A TIST is a powerful tool for many individuals and families:

High-Net-Worth Individuals

  • Protect significant investment assets from unforeseen claims.
  • Maintain control over investment decisions.
  • Minimize tax exposure with strategic planning.

Professionals in High-Risk Fields

  • Ideal for doctors, lawyers, and other professionals concerned about lawsuits.

Families

  • Preserve family wealth for future generations.
  • Protect beneficiaries from poor financial decisions or external threats.
  • Ensure a seamless transfer of assets.

Business Owners

  • Safeguard business assets while continuing to operate your business.

Why Form a TIST in Tennessee?

Tennessee is one of the most trust-friendly states in the nation, making it an excellent choice for establishing a TIST. Here’s why:

  • Favorable Laws: Tennessee’s legal framework strongly supports asset protection trusts.
  • No State Income Tax: Enjoy potential tax savings.
  • Dynasty Trust Provisions: Extend asset protection across multiple generations.
  • Flexible Decanting Laws: Adapt your trust as your needs change.
  • Strong Financial Oversight: Tennessee’s Department of Financial Institutions ensures robust regulatory support.

How to Create an Effective TIST?

Creating a TIST requires thoughtful planning. Here are some key steps:

  • Start Early: Proactively establish the trust before any creditor issues arise.
  • Choose a Tennessee Trustee: Ensure your trustee meets all state requirements.
  • Consult Professionals: Work with experienced attorneys to maximize protection and compliance.

Why Choose Foust & Foust for TIST Services

At Foust & Foust, PLLC, we’re committed to helping you protect what matters most. Here’s how we can assist:

  • Deep Knowledge of Tennessee Trust Law: We’ve helped clients across Tennessee secure their assets effectively.
  • Personalized Solutions: Every client’s situation is unique, and we tailor our approach to meet your needs.
  • Comprehensive Support: From trust formation to ongoing administration, we’re with you every step of the way.

Take the Next Step – Secure Your Legacy Today

Don’t wait to protect your assets. Contact Foust & Foust, PLLC, for a free consultation. Call us at (865) 203-4041 or fill out our online contact form. Together, we’ll create a plan that ensures your wealth and values are safeguarded for generations to come.