Volume 18 | Issue 1 | Winter 2015
In this Issue:
- Leadership Letter – Expect Disruption
- Special Needs Trusts
- Community Spotlight
- Holiday Open Houses
- Employee Spotlight – William Walker
- Recipe – Reuben Soup
Leadership Letter
Jack Davidson, CPA Senior Tax Manager, Trust Officer
Expect Disruptions
When Cousin Eddie showed up at Clark Griswold’s home just before Christmas, he made quite a splash. The long-awaited celebration of the lighting of the perfect “Griswold Family Christmas” tree was disrupted by the distant family member, his RV, and a drooling dog. Clark’s detailed vision of an “Old Fashioned Family Christmas” didn’t include the nomadic Cousin Eddie, but Clark should have known better. Cousin Eddies abound.
Our family lives may not have the same level of drama and humor as the Griswolds in Nation Lampoon’s Christmas Vacation, but we can all relate to unexpected disruptions. Life happens, and “THE PLAN” becomes obsolete. We have to adjust. Read More
Financial Planning – Special Needs Trusts
Kim Cochrane, CPA, CTFA Assistant Vice President | Trust Officer
Parents Whose Children Have Disabilities Face Financial Challenges Too
Parents of children with disabilities are often faced with a dilemma: If they leave assets directly to their disabled child, he or she will not qualify for most government benefit programs, like Supplemental Security Income (SSI) and/or Medicaid. Yet disinheriting the child is not an acceptable option. While certain assets such as a house, car or other personal effects may not affect eligibility, assets such as cash and investments can disqualify an individual from benefits. To avoid some of these problems, you may consider creating a “special needs trust” in your will. Read More
Community Spotlight
The Trust Company is so fortunate to have a devoted team of employees who generously give their time, talents and treasure to our community. Proudly displayed here are the organizations that our staff serves on boards and committees to support.
Happy Holidays!
Thanks for joining us for our two Holiday Open Houses in Knoxville and Chattanooga.
Employee Spotlight
We are pleased to announce William Walker, JD as a new Trust Administrator for our Chattanooga office. William is an attorney with estate planning experience. Before joining The Trust Company, he founded and operated Walker Trust & Estate PLLC. William earned a Bachelor of Business Administration degree in Business Management from East Tennessee State University followed by a Juris Doctorate from Faulkner University in Montgomery, Alabama. William is a member of the Tennessee State Bar Association and an active member of the Estate Planning Division of the American Bar Association.