What is a Nonresident Fiduciary?

  • A nonresident fiduciary is a person who does not reside in Tennessee, or a bank or trust company not authorized to do business in Tennessee, that is appointed by will, deed, trust agreement, court order or otherwise to serve as trustee of a corporate or personal trust, personal representative of an estate, guardian, conservator for an incompetent person, guardian for a minor or in any other fiduciary capacity.
  • Only certain types of individuals, banks or trust companies may serve as nonresident fiduciaries.  Please consult Tennessee Code Annotated, Section 35-50-107 for a complete listing of qualified persons or entities.