TN HB0817

Removes the $100,000 trust estate value cap for appointing successor trustees and expands provisions for when courts may appoint successors if beneficiaries do not petition within 3 months of a vacancy

Establishes electronic communication as a valid method for providing trust notices and documents, with information deemed accessible if available electronically for at least 60 days and the recipient consented to electronic delivery

Creates a simplified process for assigning tangible personal property to trusts via written instrument signed by the transferor that identifies the property in general terms and specifies the trust

Authorizes disinterested trustees to reimburse settlors for personal income tax liability attributable to grantor trusts, effective December 31, 2025, with protections ensuring life insurance policies cannot be used for such reimbursements

Clarifies that trust advisors and trust protectors are fiduciaries who must act in good faith and in accordance with trust purposes, though they may serve in a nonfiduciary capacity if specifically appointed as such