How Much Does a Trustee Get Paid in Tennessee?
In Tennessee, trustee compensation follows "reasonable compensation" (UTC § 708 or equivalent)Tenn. Code Ann. § 35-15-708Verified Sep 18, 2026View source unless the trust instrument sets a different amount.
Tennessee allows a trustee reasonable compensationTenn. Code Ann. § 35-15-708Verified Sep 18, 2026View source, with no statutory schedule, so the amount turns on the type of trustee and the work. A family trustee typically takes 0% to 1% of trust assets a year, or waives the fee; a professional trustee 0.5% to 1.5%; a corporate trustee 1% to 2% with an annual minimum of about $5,000.
Yes. Trustee compensation is taxable income to the trustee. Tennessee has no state income taxTenn. Const. art. II, § 28 (Amendment 3, 2014) — no tax on payroll or earned personal income; Tenn. Code Ann. § 67-2-102(5) (Hall income tax rate 0% for tax years beginning on or after Jan. 1, 2021) and § 67-2-124(c) ("The income tax levied by this chapter is eliminated for tax years that begin on or after January 1, 2021")Verified Sep 10, 2026View source, so only the federal income tax reaches it. A professional trustee also owes self-employment tax on it; a family trustee who is not in the business of serving reports it as other income. The trust deducts the payment as an administration expense.
Yes. A family member serving as trustee in Tennessee is entitled to the same compensation as a professional. Many family trustees waive or reduce the fee, especially when they are also beneficiaries, since the fee is taxable income to the trustee while a distribution usually is not. A record of time and duties is what supports any fee taken if a beneficiary or a court asks.
A one-time fee fits a trust that distributes everything and closes, the way an executor is paid once for a probate. An annual fee fits a trust that continues for years, such as one holding assets for a minor child or a beneficiary with special needs. Which model applies follows the trust's purpose, not Tennessee law. The Tennessee executor fee calculator is the comparison for a one-time distribution.
The two roles differ in length: an executor handles a probate that runs 6 months to 15 months, while a trustee may manage assets for years. In Tennessee, executor compensation is reasonable compensation set by the courtT.C.A. § 30-2-606 (reasonable compensation; no statutory percentage)Verified Sep 8, 2026View source, and trustee compensation is set by the trust document or a reasonable-compensation standardTenn. Code Ann. § 35-15-708Verified Sep 18, 2026View source. A one-time trustee fee on a trust that distributes at once is often comparable to the executor fee on an estate of the same size.
Is this your situation?
Get a complete guide for your specific circumstances.
Forms for Settling an Estate in Tennessee
Free forms for settling an estate in Tennessee: the probate petition, small estate affidavit, notice to creditors, inventory, and closing forms.
Tools for Settling an Estate in Tennessee
Free tools for settling an estate in Tennessee: whether probate is needed, executor and trustee pay, creditor deadlines, and inheritance taxes.
How Do I Settle a Trust?
Settling a trust in Tennessee happens outside court: the trustee acts under the state's Uniform Trust CodeTenn. Code Ann. § 35-15-101 et seq.Verified Oct 17, 2026View source, notifies the beneficiaries within 60 daysTenn. Code Ann. § 35-15-813(b); § 35-15-1005Verified Sep 15, 2026View source, then pays the debts and distributes under the trust's terms.
How Many Death Certificates Do I Need?
In Tennessee, certified death certificates come from the Tennessee Department of Health - Office of Vital RecordsTennessee Department of Health - Office of Vital RecordsVerified Oct 15, 2026View source; the first copy costs $15Tennessee Department of Health - Office of Vital RecordsVerified Oct 15, 2026View source.
Do I Need Probate?
In Tennessee, estates with personal property of $50,000T.C.A. § 30-4-101Verified Sep 8, 2026View source or less qualify for the Small Estate Probate Act PetitionT.C.A. § 30-4-101Verified Sep 8, 2026View source, 45 daysT.C.A. § 30-4-101Verified Sep 8, 2026View source after death, a court procedure short of full probate.
How Do I Open a Trust Account at My Bank?
Compare trust-account requirements bank by bank: how a revocable trust account is opened or retitled, and what proves the trust.
Do I Have to File Tax Returns for Someone Who Died?
Tennessee has no state income tax, so only the federal final Form 1040 is due for the decedentTenn. Const. art. II, § 28 (Amendment 3, 2014) — no tax on payroll or earned personal income; Tenn. Code Ann. § 67-2-102(5) (Hall income tax rate 0% for tax years beginning on or after Jan. 1, 2021) and § 67-2-124(c) ("The income tax levied by this chapter is eliminated for tax years that begin on or after January 1, 2021")Verified Sep 10, 2026View source; a federal estate tax return (Form 706) is required only for estates above $15,000,00026 USC 2001(c), 2010; P.L. 119-21 §70106Verified Sep 15, 2026View source.
How Do I Settle an Estate?
Settling an estate in Tennessee: the personal representative files the estate inventory within 60 daysTenn. Code Ann. § 30-2-301Verified Sep 15, 2026View source of appointment; creditors have 4 monthsT.C.A. §§ 30-2-306, 30-2-307, 30-2-310, 30-2-314, 30-2-317Verified Oct 19, 2026View source to present claims; a simple estate closes in 6 months to 9 months.
What Do I Do When Someone Dies?
After a death in Tennessee, the estate either qualifies for the simplified procedure for estates under $50,000T.C.A. § 30-4-101Verified Sep 8, 2026View source or goes through probate, where creditors have 4 monthsT.C.A. § 30-2-306(b) cl. (1)(A) (4 months from the date of first publication or posting); § 30-2-306(b) cl. (1)(B) (60 days from receipt of actual notice, where actual notice arrives within 60 days of the 4-month date); § 30-2-306(b) cl. (2) and § 30-2-310(a) (12-month outer bar from the date of death); § 30-2-307(a)(1) (claims barred unless filed within the period prescribed in the § 30-2-306(b) notice); § 30-2-321 (that period is computed from the date of first publication). Verified 2026-09-08.Verified Sep 8, 2026View source to file claims after notice.
Hire a Tennessee Trust Administration Attorney
Browse 40 trust administration firms in Tennessee with addresses, contact info, and practice details.
Your kids shouldn't have to do this.
Tennessee Estate Settlement Resources
In-depth guides covering Tennessee probate, estate administration, and settling an estate.