Tennessee is one of the best states for asset protection trusts, many of which are available to people who aren’t even residents of the state. One of the more unique ones is the TIST, the Tennessee Investments Services Trust. Note, for our Florida clients, there’s a very similar asset protection trust in Florida as well, and the language of the Florida Statute effectively mirrors the language in the Tennessee Code, so we can offer this to our clients confidently in both states.

There are two main reasons why a particular entity is chosen, be it an LLC, S-Corporation, C-Corporation, or some form of partnership: tax treatment of profits and risk management. Other considerations may weigh in, but these are usually top of mind for most new business owners.