* 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