Tennessee Code Title 35. Fiduciaries and Trust Estates § 35-15-1202

(a) A trust advisor or trust protector, other than a beneficiary, is a fiduciary with respect to each power granted to such trust advisor or trust protector.  In exercising a power or refraining from exercising a power, a trust advisor or trust protector acting as a fiduciary shall act in good faith and in accordance with the terms and purposes of the trust and the interests of the beneficiaries.

(b) A trust advisor or trust protector is an excluded fiduciary, regardless of whether the trust advisor or trust protector is serving in a fiduciary capacity, with respect to each power granted or reserved exclusively to any one (1) or more other trustees, trust advisors, or trust protectors.

(c) Notwithstanding subsection (a), a trust advisor or trust protector may serve in a nonfiduciary capacity when specifically appointed in such capacity, and when acting in such capacity is liable only for acting in bad faith or with reckless indifference.