Tennessee Code 35-15-416 – Modification to achieve settlor’s tax objectives
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 35-15-416
- Settlor: means a person, including a testator, who creates, or contributes property to, a trust. See Tennessee Code 35-15-103
- Terms of a trust: means the manifestation of the settlor's intent regarding a trust's provisions as expressed in the trust instrument or as may be established by other evidence that would be admissible in a judicial proceeding. See Tennessee Code 35-15-103
To achieve the settlor‘s tax objectives, the court may modify the terms of a trust in a manner that is not contrary to the settlor’s probable intention. The court may provide that the modification has retroactive effect.