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…
This year will be coming to an end before we know it. Below is a list of common estate plan updates you can check off your financial to-do list before the new year. 1. Think about your legacy This is the first step in setting up your estate plan. For…
The special assets team at Cumberland Trust, led by Dayton Hale and April Drennan, harnesses their collective expertise in all matters of unique, illiquid and hard-to-value assets held in trust. In this installment of the Trusted Ideas blog, the special assets team breaks down what is involved in maintaining trust-owned…
About 54 million Americans, or 1 in 5, have a disability. People with disabilities represent a diverse group. For instance, the word “disability” applies to many different situations such as physical, developmental, medical diagnoses, chronic conditions, or injuries. Taking into account the diverse nature of disabilities, it is important to…
As families in the U.S. change, many life factors, which are common today, may require extra work in the future. This is especially true when it comes to trust and estate administration and planning. Below are just a few factors that could affect your family’s trust and estate plan: Blended…
We’ve previously covered many of the tax laws that Tennessee has enacted to make the state a leader in the trust world. The Tennessee Community Property Act of 2010 is one such measure, which can benefit families nationwide. Tennessee is one of only three states that allow community property trusts.…
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. This week, we will take a closer look at the continuity provided to families by a…
May is both Older Americans Month and Mental Health Awareness Month. Cumberland Trust’s distinctive care team supports our aging clients as well as those with mental health concerns – two populations that continue to grow in the U.S. Our elder and special care trust administration team includes Tenisha Clausi, Alex…
Nashville-based independent trust company reaches new milestone, expands roles and responsibilities of executive team to strengthen market position NASHVILLE, TENN – Cumberland Trust, a Nashville-based independent corporate trust company, today announces that it has surpassed $3.5 billion in assets under administration. This milestone is further evidence that the firm’s collaborative…
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. This week, as part of our ongoing blog series The Case for Corporate Co-Trustees, we will…
Sadly, elder abuse and financial exploitation continue to be growing problems in the United States. During tax season, there tends to be an uptick in elder financial abuse and fraud scams. Below is a list of common scams targeting seniors. • Telemarketing, phone, and email scams Many scams are perpetrated…
This year, we will be starting an ongoing blog series—The Case for Corporate Co-Trustees. Each post will examine a different aspect of trust or estate administration. Our goal is to help families become more informed when reviewing trustee options. We think the corporate co-trustee arrangement is an ideal solution for…
 
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Corporate Headquarters:
Cumberland Trust
40 Burton Hills Blvd, Suite 300
Nashville, TN 37215
 
 
615.783.2540
 
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