(a) The common law of trusts and principles of equity supplement this chapter, except to the extent modified by this chapter or another statute of this state.
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Terms Used In Tennessee Code 35-15-106

  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Tennessee Code 35-15-103
  • Statute: A law passed by a legislature.
  • This state: means the state of Tennessee. See Tennessee Code 35-15-103
(b) Notwithstanding subsection (a):

(1) No provision in a trust directing or authorizing accumulation of trust income shall be invalid; and
(2) The traditional common law distinction between a discretionary trust and a support trust and the dual judicial review standards related to this distinction shall be maintained. Unless specifically provided otherwise in this chapter, courts shall not consult, rely on or give any persuasive value to the Restatement (Third) of Trusts §§ 50, 56, 58, 59 or 60, nor any of the comments under such sections or related thereto, none of which have any force or effect relative to trusts governed by the laws of this state.
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