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State f/Jennessee
PUBLIC CHAPTER NO. 616
SENATE BILL NO. 1910
By Stevens, Seal
Substituted for: House Bill No. 2454
By Garrett
AN ACT to amend Tennessee Code Annotated, Title 32; Title 35 and Title 67, relative to trust and
estate law.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 32-1-107, is amended by redesignating
the current section as subsection (a) and adding the following new subsection:
(b) A will described in subsection (a) is sufficiently proved to be admitted to probate in
this state if it is proved that the will could be admitted to probate:
(1) In the state where it was signed;
(2) Under the law of the testator's domicile at the time of its execution; or
(3) In a manner prescribed by§ 32-2-104, § 32-2-105, or§ 32-2-110.
SECTION 2. Tennessee Code Annotated, Section 35-15-110, is amended by deleting the
section and substituting:
(a) A charitable organization expressly designated to receive distributions under the
terms of a trust has the rights of a qualified beneficiary under this chapter, if the charitable
organization, on the date the charitable organization's qualification is being determined,
would be a qualified beneficiary under this chapter if such charitable organization were an
individual beneficiary. Any such charitable organization expressly designated in the terms of
a trust may receive notice and information pursuant to§§ 35-15-705, 35-15-813, and 35-15-
817, and participate in nonjudicial settlement agreements under§ 35-15-111.
(b) The attorney general and reporter may exercise the rights of a qualified
beneficiary with respect to a charitable trust having its principal place of administration in this
state if all of the interests in the trust that are for a charitable purpose, in the aggregate, on
the date the attorney general and reporter's qualification is being determined, would cause
an individual beneficiary to be a qualified beneficiary under this chapter if all of such interests
were for the benefit of an individual beneficiary instead of for charitable purposes.
SECTION 3. Tennessee Code Annotated, Section 35-15-103, is amended by deleting the
language "an agreement of the qualified beneficiaries" wherever it appears and substituting "a
nonjudicial settlement agreement".
SECTION 4. Tennessee Code Annotated, Section 35-15-414(a}, is amended by deleting the
language "one hundred thousand dollars ($100,000)" and substituting "two hundred fifty thousand
dollars ($250,000)".
SECTION 5. Tennessee Code Annotated, Section 35-15-709, is amended by adding the
following as a new subsection:
(c) A trustee may pay properly incurred expenses directly from the trust estate,
including the payment of attorney's fees and expenses in defense of an action of the trustee.
SB 1910
This subsection (c) does not limit the ability of the court to prevent further disbursement from
the trust by the trustee, or demand immediate reimbursement back to the trust property at
any time, or authorize an award pursuant to part 10 of this chapter.
SECTION 6. Tennessee Code Annotated, Section 35-15-710, is amended by deleting the
language "an agreement of the qualified beneficiaries" and substituting "a nonjudicial settlement
agreement".
SECTION 7. Tennessee Code Annotated, Section 35-15-808(b), is amended by deleting the
language "an agreement of the qualified beneficiaries" and substituting "a nonjudicial settlement
agreement".
SECTION 8. Tennessee Code Annotated, Section 35-15-817(f), is amended by adding the
following language to the end of the subsection:
In order to be effective, any such person's objection must identify with reasonable specificity
the portion of the notice or exhibits to which the beneficiary objects and the basis for the
objection. A general objection without reasonable specificity is ineffective and must be
disregarded.
SECTION 9. Tennessee Code Annotated, Section 35-15-8170), is amended by adding the
following language to the end of the subsection:
Any objection may also be withdrawn at any time in writing and such objection will have no
effect andwill be disregarded.
SECTION 10. Tennessee Code Annotated, Section 35-15-817(k), is amended by deleting
the language "ten (10) business days" and substituting "five (5) business days".
SECTION 11. Tennessee Code Annotated, Section 35-15-818, is amended by deleting the
language "subdivision (a)(1 )" and substituting "subdivision (1 )".
. SECTION 12. Tennessee Code Annotated, Section 35-15-818, is amended by deleting the
language "and" at the end of subdivision (11 ), deleting subdivision (12), and substituting:
(12) The trustee may exercise the power to appoint principal under subdivision (1) by
modifying or restating the trust instrument; and
(13) For pur-poses of this section:
(A) "Original trust" means the trust from which principal is being distributed;
and
(8) "Second trust" means an original trust after modification or restatement
under this section, or a trust to which a distribution of property from an original trust is
or may be made under this section; provided, that the exercise of the power to
appoint principal under this section to a second trust by restatement or modification of
the original trust does not require the retitling of property titled to the original trust or a
change in a payable on death or beneficiary designation to the original trust, even if
the second trust is created by a fiduciary or other person.
SECTION 13. Tennessee Code Annotated, Title 35, Chapter 15, Part 8, is amended by
adding the following new section:
(a) When acting in a managerial capacity with respect to a closely held business,
including serving as a director, officer, manager, general partner, or other controlling person
of such entity, a trustee, trust 1advisor, or trust protector is not liable for any resulting loss or
failure to maximize returns; provided that:
(1) The trustee, trust advisor, or.trust protector is an excluded fiduciary acting
pursuant to valid direction of a trust protector or trust advisor; or
(2) The trustee, trust advisor, or trust protector:
(A) Acts in good faith;
(8) Acts· with the care that a person in a like business position would
reasonably believe appropriate under similar circumstances;
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SB 1910
(C) Reasonably believes the action or inaction is in the best interest of
the trust and its beneficiaries; and
(D) Does not act with an improper motive, as defined in § 35-15-
814(a)(1 )(A), including an intent to benefit the trustee personally or to further
any purpose other than the best interests of one (1) or more beneficiaries.
(b) A trustee, trust advisor, or trust protector is not liable to a beneficiary for any act,
omission, or decision made in a managerial or controlling capacity with respect to a closely
held business interest, unless the act or omission does not comply with subsection (a). A
court shall not determine that the trustee, trust advisor, or trust protector failed to meet this
standard merely because the court would not have exercised the discretion in the same
manner.
(c) This section applies regardless of whether the trustee, trust advisor, or trust
protector receives compensation from the trust or the business entity; provided, that any
such compensation is reasonable, disclosed, and not prohibited by the terms of the trust.
(d) This section does not limit the court's authority to review conduct or to grant
appropriate relief under title 35, chapter 15, part 10, if the trustee, trust advisor, or trust
protector's actions are shown to be a breach of trust not protected under this section.
(e) This section does not alter the duties with respect to the investment in or
ownership of a closely held business, including, but not limited to, those imposed by the
Tennessee Uniform Prudent Investor Act of 2002, compiled in title 35, chapter 14, such as
the duty to diversify.
SECTION 14. Tennessee Code Annotated, Title 35, Chapter 15, Part 11, is amended by
adding the following new section:
(a) Confidential information related to trusts that is contained in court filings, including
court orders, may be redacted or filed under seal without a prior court order so long as
unredacted and complete copies of such filings are promptly provided to the court in camera
and to all qualified beneficiaries, and the trustee and qualified beneficiaries consent to the
redaction or filing under seal if the underlying matter:
(1) Does not involve third parti'es;
(2) Solely concerns the trustee and the qualified beneficiaries; and
(3) Relates to matters involving the validity, construction, and administration of
a trust, including the duties and powers of a trustee and the rights and interests of a
beneficiary.
(b) Unless the court orders otherwise, confidential information once redacted or filed
under seal must be redacted or filed under seal, as applicable, without a prior court order in
all subsequent filings and orders in the matter. Unredacted and complete copies of such
filings and orders must be promptly provided in camera to the court and to all qualified
beneficiaries, unless a court orders otherwise.
(c)(1) This section does not abridge the power of any court of competent jurisdiction
to order the production of unredacted and complete copies of petitions, filings, and
orders that have been redacted or filed under seal to a qualified beneficiary or any
other interested person for cause shown. The existence of a compelling interest for
filing documents redacted and under seal with a court must be presumed for all
matters involving a trust since such matters involve purely private litigants,. matters of
purely private concern with little legitimate· public· interest, and risk serious
embarrassment or specific harm from disclosure.
(2) In determining whether the presumption of a compelling interest for filing
redacted documents and under seal is overcome, a court may con·sider, among other
• factors,.whether:
(A) A public entity or official would benefit from secrecy;
(B) The information involves a matter of public concern; or
(C) The information is important to other litigation such that sharing the
information would promote fairnes~ and efficiency.
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SB 1910
(d) As used in this section, "confidential information related to trusts" includes:
(1) Trust instruments, settlement agreements, modification agreements,
trustee resolutions, inventories, accountings, and reports;
(2) The names and addresses of trust settlers, trustees, and beneficiaries;
(3) Trust dispositive terms, including, without limitation:
. (A) Purely private litigants; and
(8) Matters of purely private concern with little legitimate public
interest;
(4) Corporate and company records relating to trusts;
(5) . Personally identifying information, including, without limitation, social
security numbers and dates of birth; and
(6) Any other information the court deems confidential, if there is a compelling
interest in protecting the confidentiality of the information which outweighs the public
interest in accessing such information.
SECTION 15. Tennessee Code Annotated, Section 35-15-1201(a), is amended by deleting
the language "an agreement of the qualified beneficiaries" and substituting "a nonjudicial settlement
ag'reement". •
SECTION 16. Tennessee Code Annotated, Section 35-15-1201(a)(14), is amended by
deleting the subdivision and substituting: •
(14) The power to appoint under§ 35-15-818;
SECTION 17. Tennessee Code Annotated, Section 67-4-2008(a)(11)(B)(i), is amended by
deleting the subdivision and substituting:
(i) "Family-owned" means that at least ninety-five percent (95%) of the voting rights,
capital interest, or profits of the entity are owned either by natural persons who are relatives
or by trusts for the benefit of such relatives or by the estate of a deceased individual who was
a relative while living. For this purpose, natural persons are considered re·latives, if, by blood
or adoption, they are descended from a common ancestor and their relationship with each
other is that of a first cousin or closer than that of a first cousin, or if they are a spouse or
former spouse of any such person or a lineal descendant of a spouse or former spouse of
any such person.
SECTION 18. Tennessee Code Annotated, Section 67-4-2008, is amended by deleting
subdivisions (a)(11 )(B)(ii) and (v) .
SECTION 19. The Tennessee Code Commission is requested to publish in Tennessee Code
Annotated the revisions to the official comments for Chapter 1 of Title 32, Chapter 15 of Title 35, and
Chapter 4 of Title 67 that are filed with the executive secretary of the Tennessee Code Commission
by May 19, 2026, by duly authorized representatives of the Trust Committee of the Tennessee
Bankers Association.
SECTION 20. This act takes effect July 1, 2026, the public welfare requiring it.
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SENATE BILL NO. 1910
PASSED: March 12, 2026
RANDY Mc~LLY
SPEAKER OF THE SEJJA TE
CAMERONS!.WPON,SPEAKER
HOUSE OF REPRESENTATIVES
APPROVED this J_(otL day of YY]ay4' 2026
~tee,,
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LEE, GOVERNOR
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