The Tennessee Notice of Establishment of Catastrophic Illness Trust is a document used in Tennessee to create a trust to pay for the medical expenses of a person diagnosed with a catastrophic illness. This document must be filed with the Tennessee Secretary of State, and it outlines the terms of the trust, including the name of the Trustee, the beneficiaries of the trust, the assets that will be used to fund the trust, and any other details. There are two types of Tennessee Notice of Establishment of Catastrophic Illness Trust: one for trusts created by individuals, and one for trusts created by corporations.
Tennessee Notice of Establishment of Catastrophic Illness Trust
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Notice of Establishment of Catastrophic Illness Trust
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FAQ
Unless exempt, a charitable organization must register with the Tennessee Secretary of State before soliciting charitable contributions in Tennessee.
A ?Catastrophic Illness Trust? is defined as a trust or custodial account established to benefit those with a catastrophic illness, or a severe illness requiring prolonged hospitalization and/or doctors and medicines.
Approximately 40 states have enacted charitable solicitation statutes. Although specifics vary, state statutes usually require organizations to register with the state before they solicit the state's residents for contributions.
Only a qualified 501(c)(3) or 501(c)(19) organization that has submitted an application to the Division of Charitable Solicitations and Gaming and that has been approved by the Tennessee General Assembly can hold a raffle.
Tennessee nonprofits are required to register with the Tennessee Secretary of State. Nonprofits that receive less than $50,000 per year can file for an exemption.
Essentially, any fundraising overture made toward a person individually, a group of people, or to the public at large, that asks for a donation is considered a solicitation.