Trusts - As enacted, establishes as a default rule of state trust law that a beneficiary is a non-fiduciary unless appointed in such capacity, and makes certain other changes relative to trusts. - Amends TCA Title 30 and Title 35.

SB 534 updates Tennessee trust law by establishing that beneficiaries are not automatically responsible for managing trusts (non-fiduciaries) unless specifically appointed as such. It adds electronic notice options for trust communications with consent, sets a strict 2-year deadline (or 120 days after trustee notice) for challenging a trust’s validity, and requires beneficiaries who received improper distributions to return funds. These changes directly affect trust beneficiaries, trustees, and courts handling trust disputes. The bill aims to clarify responsibilities and streamline trust administration while reducing disputes over validity.