TN HB1045

Life insurance and annuity proceeds payable to a spouse, children, or dependent relatives are exempt from all creditor claims, including execution, attachment, seizure, and garnishment

Exemption applies to obligations created after January 1, 1932, regardless of whether the policyholder retained the right to change beneficiaries

Exempt funds retain their exempt status even after being used or transferred to other purposes

Amends Tennessee Code Annotated Section 56-7-203 to clarify interpretive disputes raised by Tennessee bar members and judiciary regarding the meaning of "for the benefit of" and "all"

Effective July 1, 2025