Tennessee’s version of the UTC analyzed

C. Shawn O’Donnell (J.D., 2007, The University of Memphis, Cecil C. Humphreys School of Law) has recently published his Note entitled Exploring the Tennessee Uniform Trust Code, 38 U. Mem. L. Rev. 489-535 (2008).

Here are some excerpts from the article’s introduction:

Until recently, the foundation of Tennessee’s trust law rested on isolated common law decisions coupled with a hodgepodge of statutory provisions. All of that changed in 2004 when Tennessee’s legislature enacted the Tennessee Uniform Trust Code (“TUTC”). The TUTC, codified in sections 35-15-101 to -1103 of the Tennessee Code Annotated, is Tennessee’s first uniform, comprehensive statutory scheme addressing trust law. The enactment of the TUTC followed shortly after the Uniform Trust Code (“UTC”), which was enacted only four years earlier. * * *

This Note proceeds in several parts. Following this brief introduction, Part II sets the stage by briefly discussing the evolution of trust law. Next, Part III provides an overview of the TUTC, emphasizing the TUTC’s mandatory provisions and important definitions. Then, Part IV explores the creation, modification, and termination of trusts under the TUTC. Following that, Part V examines the TUTC’s effect on spendthrift trusts and creditors’ rights, and Part VI discusses trustee liability issues. Finally, in Part VII, the author offers conclusions and recommendations for possible improvements to the TUTC.