§ 35-13-107. Change in tax-exempt status of beneficiary.

TN Code § 35-13-107 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(1) a gift made to a trust is to take effect at a date later than the date of the gift instrument; and

(2) when the gift instrument is executed, the gift to the trust would qualify for a charitable deduction under the Internal Revenue Code (26 U.S.C.), if the gift were then effective; and

(3) the trust, or beneficiary of the trust, loses its tax-exempt status before the gift takes effect; THEN