Tennessee Code Annotated

Tenn. Code Ann. § 35-14-106 (2026)

Duties at inception of trusteeship

✓ current as of May 2026

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Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances of the trust, and with the requirements of this chapter.

Acts 2002, ch. 696, § 6.

Notes of Decisions

Cited in 1 case, 2007–2007 · leading case: Wood v. Lowery, 238 S.W.3d 747 (Tenn. Ct. App. 2007).

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Wood v. Lowery, 238 S.W.3d 747 (Tenn. Ct. App. 2007). · cites it 4× “The applicable statute which addresses when a trustee's duty to act arises is T.C.A. § 35-14-106, which states: Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning…”

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