Tèks konplè gid sa a an angle; rezime ki anwo a nan lang ou. Rezime lwa yo ak vèsyon angle a rete sous referans lan.
Beneficiaries · 6 min lekti
The terms come first — with limits
The terms of the trust prevail over the code except for the rules Tenn. Code Ann. § 35-15-105(b) lists — among them the requirements for creating a trust, the duty to act in good faith and in accordance with the terms and purposes, the court's powers to modify or terminate a trust and to adjust compensation, the effect of an exculpatory term, the rights of third persons and the periods of limitation. A discretionary interest is a mere expectancy, reviewed only for dishonesty, improper motive or failure to act (Tenn. Code Ann. § 35-15-814(b)).
The nonjudicial settlement agreement
The trustee and the qualified beneficiaries may enter into a binding nonjudicial settlement agreement with respect to any matter involving the trust, valid to the extent it does not violate a material purpose of the trust and includes terms a court could properly approve (Tenn. Code Ann. § 35-15-111(a), (b)); the matters it may resolve include the interpretation or construction of the terms, the approval of a trustee's report or accounting, direction to a trustee to refrain from an act or the grant of a necessary power, a trustee's resignation or appointment and compensation, the transfer of the principal place of administration, a trustee's liability and the other matters the section lists ((c)); any interested person may ask the court to approve it ((d)).
The court, removal and the limitation
A trust is not under continuing judicial supervision unless the court orders it, but a judicial proceeding may relate to any matter involving the administration, including a request for instructions and an action to declare rights (Tenn. Code Ann. § 35-15-201); the chancery court of the county, or another court of record with probate jurisdiction, hears it (Tenn. Code Ann. § 35-15-203). The settlor, a cotrustee or a qualified beneficiary may ask the court to remove a trustee, and the court may act on its own initiative — for a serious breach of trust, a lack of cooperation among cotrustees that substantially impairs the administration, unfitness, unwillingness or persistent failure to administer effectively, or a substantial change of circumstances or the request of all qualified beneficiaries with a suitable successor available (Tenn. Code Ann. § 35-15-706). A beneficiary's claim for breach is brought within one year after adequate disclosure or actual knowledge, or three years otherwise (Tenn. Code Ann. § 35-15-1005).
Lwa yo, mo pou mo
Limitation of action for breach of trust
Tenn. Code Ann. § 35-15-1005 ↗Eksplikasyon klè e senp; tèks egzak lwa a poko ateste nan bibliyotèk nou an. Gade lwa ofisyèl la nan lyen ki anwo a.
Default and mandatory rules
Tenn. Code Ann. § 35-15-105 ↗Eksplikasyon klè e senp; tèks egzak lwa a poko ateste nan bibliyotèk nou an. Gade lwa ofisyèl la nan lyen ki anwo a.
Nonjudicial settlement agreements
Tenn. Code Ann. § 35-15-111 ↗Eksplikasyon klè e senp; tèks egzak lwa a poko ateste nan bibliyotèk nou an. Gade lwa ofisyèl la nan lyen ki anwo a.
Removal of trustee
Tenn. Code Ann. § 35-15-706 ↗Eksplikasyon klè e senp; tèks egzak lwa a poko ateste nan bibliyotèk nou an. Gade lwa ofisyèl la nan lyen ki anwo a.
Kesyon moun poze souvan
Can Tennessee beneficiaries settle a dispute without court?
The trustee and the qualified beneficiaries may enter into a binding nonjudicial settlement agreement on any matter involving the trust, within the limits the statute sets (Tenn. Code Ann. § 35-15-111); the court may approve it on request.
Can a Tennessee beneficiary have the trustee removed?
A qualified beneficiary may ask the court, which may remove a trustee for the grounds Tenn. Code Ann. § 35-15-706 states; the settlor of a revocable trust removes by written notice (Tenn. Code Ann. § 35-15-606).
Which court hears a Tennessee trust dispute?
The chancery court of the county of the trust's principal place of administration, or that county's other court of record with probate jurisdiction (Tenn. Code Ann. §§ 35-15-203, 35-15-204).
Lekti ki gen rapò
Sant Aprantisaj la se enfòmasyon jeneral sou lwa Tennessee — se pa konsèy legal, e li pa ranplase konsèy yon avoka Tennessee ki gen lisans sou reyalite pa ou. TrusteeClear se yon lojisyèl, pa yon kabinè avoka.