35-15-808 - Powers to direct. - Tennessee Statutes

35-15-808. Powers to direct.

(a)  While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust or contrary to the normal practice of the trustee in regard to the action requested.

(b)  If the terms of a trust confer upon a person other than the settlor of a revocable trust power to direct certain actions of the trustee, the trustee shall act in accordance with an exercise of the power.

(c)  The terms of a trust may confer upon a trustee or other person a power to direct the modification or termination of the trust.

(d)  A person, other than a beneficiary, who holds a power to direct is presumptively a fiduciary who, as such, is required to act in good faith with regard to the purposes of the trust and the interests of the beneficiaries. The holder of a power to direct is liable for any loss that results from breach of a fiduciary duty.

(e)  In so following the directions under this section, the trustee is protected from liability as provided in §§ 35-3-122 and 35-3-123.

[Acts 2004, ch. 537, § 66.]