* Living or deceased
∆ May include up to 12th degree of lineal kinship or 11th degree of collateral kinship, including spouses, former spouses, their estates and trusts (either formed by or bene�tting family client)
STATE OF TENNESSEE PRIVATE FAMILY TRUST COMPANIES:
THE “EXPANDED FAMILY” UNIVERSE
© 2017 Waller Lansden Dortch & Davis, LLP
CHILDREN
to include “their” children,
step-children, adopted children,
foster children and minor wards
to include the former spouses of bothdesignated relatives and the relatives
of their former spouses
FAMILY BUSINESS OFFICERS + DIRECTORS
to includethe full-time employees of
the family business and
other full-time employees
Prior to 2016, Tennessee’s private family trust company (PFTC) laws
were limited to serving a single designated relative* and that relative’s
parents and siblings. This diagram illustrates the newly amended lawsand the “expanded family” universe
of family members/clientswhich may now be served.
to includethe parents and siblingsof bothdesignatedrelatives ∆
TWO DESIGNATED
RELATIVES*
FORMERSPOUSES
FAMILY-SUPPORTEDFOUNDATION, NONPROFIT OR CHARITY
ORGANIZATION
to include thedirectors
and/or of�cers
of the entity