The Board of Directors of Cumberland Trust today announced the appointment of Jennie Menzie as President and her election to the Board of Directors. As a result of the promotion, Menzie will now serve as President, Chief Operating Officer, and Corporate Counsel. The former president, Joseph K. “Pepe” Presley, will…
The probate process has long been associated with negative connotations and considered by some to be something that should be avoided at all costs. While some financial planners may recommend that those with larger estates try to keep property out of probate whenever possible, this is not a “one size…
Naming a trust company to serve as trustee or co-trustee often provides more client protections than utilizing a sole individual trustee. Trust companies are monitored by independent and government entities. This promotes effective implementation of processes and procedures and compliance with applicable regulations. Corporate trustees like Cumberland Trust operate as…
If you have an irrevocable trust, you may have named yourself as the current trustee and your spouse, partner, or other family member as co-trustee or successor trustee. Presumably, if you were to become incapacitated or die, your spouse, partner, or family member might step-in to serve as sole trustee.…
On May 12, 2021, the Governor of Tennessee signed into law HB1186/SB0896—a bill containing several revisions to Tennessee’s Trust Code. Tennessee continues to distinguish itself as a desirable state for trust administration, and this recently enacted legislation seeks to maintain this advantage. The Tennessee Bankers Association Legislative Committee meets annually…
This year, Cumberland Trust celebrates its 20th anniversary as an independent corporate fiduciary focused on client service and advisor collaboration. Since 2001, the Cumberland Trust team has grown to serve hundreds of families across the United States. During this year of growth, we are excited to announce the continued expansion…
Cumberland Trust was founded in 2001 to offer high-level service to families seeking to preserve their legacy. The Tennessee trust company provides administration services for all types of trusts and estates for clients across the U.S. An especially unique service area, Special Needs Trust administration—serving beneficiaries with intellectual and developmental…
If you are in the process of establishing an estate plan for the first time or revising your existing estate plan, you are already familiar with the formal documents drafted by your estate planning attorney—including a Last Will and Testament, Living Will, Revocable Trust, Healthcare Power of Attorney, or Financial…
Cumberland Trust is pleased to announce the promotion of Charlotte English to Vice President and Director of Special Needs Trust Administration. English joined Cumberland Trust in 2013 and will now lead the company’s growing Special Needs Trust Administration team in Nashville, TN. Cumberland Trust has entered a high-growth phase with…
Cumberland Trust announces the hiring of Shelly Donaldson as Vice President and Business Development Officer based in Atlanta. In her role, Donaldson will connect individuals, families and their financial, legal, and tax advisors with Cumberland Trust’s high caliber trust and estate administration services. She will continue to expand Cumberland Trust’s…
Cumberland Trust continues to provide diversified and comprehensive administration services for all types of trusts and estates for clients across the U.S. Recently, the company has entered a high-growth phase with $5 billion in client assets under administration. An area that has helped to drive this growth is Cumberland Trust’s…
Each year, tax returns must be prepared and filed for personal trusts and estates. Below are some reminders regarding the trust tax filing process. Cumberland Trust’s platform allows clients to choose their own trusted financial advisor to handle the investment management of trust assets. Because of this separation of duties,…
As members of the Special Assets Team at Cumberland Trust, Dayton Hale, April Drennan, Natalicia Hosseinzadeh, and David Shetler utilize their collective expertise in all matters of unique, illiquid, and hard-to-value assets held in trust. This installment of the Trusted Ideas blog, written by Dayton Hale, focuses on special asset…
Cumberland Trust is pleased to announce growth in Missouri with the hiring of Lisa Tesar as Vice President and Regional Development Officer based in St. Louis. In her role, Lisa will focus on building relationships with external advisors (including financial advisors, attorneys and accountants), individuals and families through personalized trust…
Happy New Year! After a challenging and unpredictable 2020, we look forward to a fresh start in 2021. Thank you for your continued support over the past year. As we look ahead to the new year, we are delighted to share that Cumberland Trust will celebrate its 20th anniversary as…
The holiday season is upon us, and while this year’s celebrations and gatherings may be limited, we hope you are still able to enjoy the holidays safely with your loved ones. Due to the COVID-19 pandemic, sharing traditions, memories, and family stories with those around you may be more important…
Cumberland Trust, Nashville-based independent trust company, announced changes to its Administration, Corporate, and Operations leadership meant to maximize growth while continuing to offer best-in-class trust and estate administration to clients. Cumberland Trust named the following new roles to its Trust Administration and Corporate teams: Chris Buckley to Senior Vice President…
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Working with an attorney to determine what estate planning documents best fit your and your family’s needs is a critical exercise for young families. Wills can be an important estate planning tool as they typically outline how surviving family members, such as a surviving spouse and children, will be supported…
Cumberland Trust's Special Needs Trust administration team partners with families and their advisors to navigate the complexities of planning for and administering Special Needs Trusts and special purpose trusts. This installment of the Trusted Ideas blog, addresses the challenging and rewarding nature of serving as trustee in a special needs…
Charitable trusts are wealth planning vehicles with advantageous tax benefits for philanthropic families or individuals who wish to donate to charitable organizations. There are two main forms of charitable trusts: a charitable remainder trust (CRT) and a charitable lead trust (CLT). Each charitable trust type serves a separate purpose and…
Frequently, when individuals or families are contemplating wills, trusts, and an overall estate plan, the question of probate court comes up and how to bypass the probate process. What is probate? Probate is a court-supervised, legal process of settling an estate after an individual has died. A probate court judge…
The Special Assets Team at Cumberland Trust, consisting of Dayton Hale, April Drennan, and Natalicia Hosseinzadeh brings together their collective expertise in all matters of unique, illiquid, and hard-to-value assets held in trust. This installment of the Trusted Ideas blog, written by Dayton Hale, focuses on farmland and timberland held…
Wealth Matters is a monthly radio show and podcast produced by Gaslowitz Frankel LLC. The attorneys from Gaslowitz Frankel discuss the opportunities and challenges associated with preserving and managing wealth. Each month, wealth and asset management professionals join in for a lively and thoughtful discussion of how to best protect,…
While you may never be prepared for the loss of a parent, there are steps you can take to ease the burden of loss and make the transition easier when the time comes. First, know where your parent’s key documents are located. This could include everything from a last will…
As the U.S. and the world continue to deal with the coronavirus pandemic, many are using video conferencing software to connect with colleagues, clients, family, and friends. When hosting or attending a virtual meeting or event, whether using Zoom, WebEx, Skype, Microsoft Teams, or other platforms, there are features you…
During the coronavirus pandemic, museums, art institutions, and historical sites are turning to virtual tours to engage the young and young at heart. Here are a few attractions local to our Nashville headquarters that have created a virtual visit experience for you and your family to enjoy. We hope these…
During times of uncertainty, many individuals find it important to update and add to their legal and healthcare related documents. Having the necessary documents and a plan in place can help reduce stress, especially during challenging times. Several of the most common healthcare documents are listed and described below. These…
In the midst of the coronavirus pandemic, many people are searching for ways to connect with their communities and help those in need through various volunteering efforts. Below are 10 simple ways you and your loved ones can help make a difference during this time (in no particular order). Smithsonian…
Since most of us will be working remotely for the foreseeable future, Cumberland Trust thought it would be helpful to gather and share tips to feel connected, productive, and fulfilled during this uncertain time. Follow your normal morning routine: Keep your morning routine in place and get dressed each day…
To our Cumberland Trust community: Our top priority remains the health and safety of our clients and our employees. We also have a responsibility to support our community. Effective Monday, March 23rd, Cumberland Trust will be fully operational, working in a remote capacity. We are open during normal business hours…
Last week, on March 3rd, a tornado hit Davidson, Wilson, and Putnam counties in Tennessee. Our hometown is now in disaster relief mode as our neighbors start the long process of clean up and recovery. If you are looking for a way to help, we thank you. Below are a…
Charitable planning is important to many families and can leave a lasting impact on organizations or causes that align with the family’s interests and values. Often, clients want to pass the philanthropic spirit down to future generations. Our directed trustee platform allows the family to remain involved in the management…
The Special Assets Team at Cumberland Trust, consisting of Dayton Hale, April Drennan and Natalicia Hosseinzadeh brings together their collective expertise in all matters of unique, illiquid and hard-to-value assets held in trust. This installment of the Trusted Ideas blog, written by Dayton Hale, focuses on oil, gas and mineral…
In a previous Trusted Ideas post, we outlined the fundamental reasons why you might want to include a letter of intent in your estate planning documents. Having a letter of intent in place is especially important for families with a child or heir with special needs. A completed letter of…
This year, Cumberland Trust enters its twentieth year in business, and continues to be an experienced independent corporate trustee solution for families and their advisors. In the past year, we continued our growth, as we approached $4 billion in assets under administration. We are now serving more families than ever…
Today is Giving Tuesday! Here are a couple of ways you can donate carefully. At year-end and during the holiday season, many Americans donate money to different charitable organizations. During this time, you may receive more requests for donations in the mail or over the phone. Unfortunately, there are fraudulent…
Over the past several decades, many states have worked to update trust legislation. Tennessee is a prime example thanks to its favorable tax laws and the adoption of the Prudent Investor Act, the Uniform Trust Code, and other asset protection legislation. These legislative updates provide greater flexibility and more options…
The Special Assets Team at Cumberland Trust, consisting of Dayton Hale and April Drennan, brings together their collective expertise in all matters of unique, illiquid, and hard-to-value assets held in trust. This installment of the Trusted Ideas blog, written by the Special Assets Team, focuses on closely held business interests,…
We think the corporate co-trustee arrangement is an ideal solution for families with wealth. In this arrangement, a family member or individual shares the responsibility of trusteeship with a corporate trustee like Cumberland Trust. Typically, naming a corporate trustee to serve as trustee or co-trustee provides many more client protections…
A letter of intent, sometimes called a letter of instruction, can be a helpful addition to your estate planning documents. Typically, an estate plan will include formal documents drafted by your estate planning attorney, such as: · Last Will and Testament · Living Will · Revocable Trust · Healthcare Power…
These days, many of us serve as caregivers for our children, parents, other family members, or even friends and neighbors. Often, juggling the duties of a caregiver with your own career and personal responsibilities is overwhelming. Regardless of your individual situation, you may find it difficult to manage providing care…
In a revocable or living trust, the trust creator (or grantor) retains rights over the trust, including the ability to change or revoke the trust at any time. Under a revocable trust, the grantor is typically named as the primary beneficiary during his or her lifetime. In fact, the grantor…
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Corporate Headquarters:
Cumberland Trust
40 Burton Hills Blvd, Suite 300
Nashville, TN 37215