2018 Tennessee Code
Title 35 - Fiduciaries and Trust Estates
Chapter 15 - Tennessee Uniform Trust Code
Part 11 - Miscellaneous Provisions
§ 35-15-1105. Dominion and control over a trust.

Universal Citation: TN Code § 35-15-1105 (2018)
  • In the event a person challenges a settlor's or a beneficiary's influence over a trust, none of the following factors, alone or in combination, shall enter into a determination that dominion and control over a trust exists:
  • (1) The settlor or a beneficiary is serving as a trustee, a trust advisor, a trust protector or other fiduciary as described in § 35-15-508;

  • (2) The settlor or a beneficiary holds an unrestricted power to remove or replace a trustee, a trust advisor, a trust protector or other fiduciary;

  • (3) The settlor or a beneficiary is a trust administrator, a general partner of a partnership, a manager of a limited liability company, an officer of a corporation, or holds any other managerial function relative to any type of entity specified in this subdivision (3), or relative to any other type of entity not so specified, and part or all of the trust property consists of an interest in such entity;

  • (4) A person related by blood or adoption to the settlor or a beneficiary is appointed as a trustee, a trust advisor, a trust protector or other fiduciary;

  • (5) The settlor's or a beneficiary's agent, accountant, attorney, financial advisor, or friend is appointed as a trustee, a trust advisor, a trust protector or other fiduciary;

  • (6) A business associate is appointed as a trustee, a trust advisor, a trust protector or other fiduciary;

  • (7) A beneficiary holds any power of appointment over any or all of the trust property;

  • (8) The settlor holds a power to substitute property of equivalent value for property held by the trust, regardless of whether such power is:

    • (A) Held in a fiduciary or nonfiduciary capacity;

    • (B) Exercisable with or without the approval of any person in a fiduciary capacity; or

    • (C) Exercisable with or without the approval of any person having an interest adverse to such settlor;

  • (9) A trustee, a trust advisor, a trust protector or other fiduciary has the power to loan trust property to the settlor for less than a full and adequate rate of interest or without adequate security;

  • (10) Any language relative to the power to make any distribution provides for any discretion relative to such distribution;

  • (11) The trust has only one beneficiary eligible for current distributions; or

  • (12) The beneficiary is serving as a cotrustee, or as a trust advisor or trust protector under part 12, or as any other fiduciary.

Disclaimer: These codes may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.