The following is a continued encapsulation of our conversation with Jaclyn Berry, head of the special needs team within our Distinctive Care Division, focused on examples of the two primary types of Special Need Trusts (First-Party and Third-Party) and how they can be the right fit for families in a…
As health care expenses rise in the U.S., so do the challenges faced by individuals with intellectual and developmental disabilities and their families. Managing uncertainties that come with caring for a loved one with a disability can be financially burdensome. When a person with a disability receives an inheritance or…
The statistics are staggering. And they all have an unavoidable impact on estate planning, trust administration and family care. First, our population is aging: The median age of the U.S. population is expected to grow from age 38 today to age 43 by 2060. (United States Census Bureau 2018) Those…
NASHVILLE, Tenn. – Nashville-based trust company Cumberland Trust, which provides diversified and comprehensive administration services for an array of personal trusts and estates for clients across the U.S., has been in a high-growth phase, recently surpassing more than $3.3 billion in client assets under administration. An area that has helped…
Q&A: SPECIAL ASSETS As technology advances, so do new approaches and trends that help our special assets team. We have previously outlined how Cumberland Trust is uniquely positioned to help maximize assets by being a corporate trustee that does not manage money. Another component of our success in special assets…
Often called the hidden half of client wealth, recent studies suggest special assets make up as much as 55 percent of wealthy client assets. Yet despite this bend toward unique properties and holdings, these can be perceived as challenging, as they require special attention and can carry sentimental value for…
Cumberland Trust was founded 17 years ago to focus on families. Making client lives less complicated by delivering on their needs and extending their values through generations. We knew our clients worked hard to build their legacy, and it was up to us to assist them in protecting it. We…
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