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Tennessee Uniform Trust Code

Tennessee · Fiduciaries And Trust Estates · §§ 35-15-1001 to 35-15-901 · 113 sections

Overview

As used in this chapter, unless the context otherwise requires: (1) “Action” with respect to an act of a trustee, includes a failure to act; (2) “Another state” or “other state” means any state other than this state; (3) “Ascertainable standard” means a standard relating to an individual’s health, education, support or maintenance within the meaning of § 2041(b)(1)(A) or § 2514(c)(1) of the Internal Revenue Code of 1986 (U.S.C. § 2041(b)(1)(A) and § 2514(c)(1)), as in effect on July 1, 2004, or as later amended; (4) “Beneficial interest” means a distribution interest or a remainder interest; provided, however, that a beneficial interest specifically excludes a power of appointment or a power reserved by a settlor; (5) “Beneficiary” means a person that has a present or future beneficial interest in a trust, vested or contingent; (6) “Charitable trust” means a trust, or portion of a trust, created for a charitable purpose described in § 35-15-405(a); (7) “Conservator” has the same meaning as in § 34-1-101; (8) “Directed trust” means a trust where either through the terms of the trust, an agreement of the qualified beneficiaries or a court order, one or more persons are given

In the courts

Sections of this act have been cited in 46 court decisions.

Most-cited authority: 523 S.W.3d 61 - John D. Glass v. Suntrust Bank

Sections covered

Enacted in other states

Alabama, Colorado, Connecticut, District of Columbia, Hawaii, Kentucky, Massachusetts, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Jersey, New Mexico, Oklahoma, Oregon, West Virginia, Wyoming

All Tennessee named statutes →

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