PERSONAL TRUST
Do you worry about protecting your loved ones and their finances?
The Trust Company of Tennessee partners with families to carry out specific wishes to preserve family legacies.
Every need for a trust is truly unique.
Together, we’ve got this. For you, and those you care about most.
Our team has extensive experience planning, establishing and administering trusts of all types. Fiduciary responsibilities are at the core of our values, and we apply those principles across revocable, charitable, special needs and asset protection trusts.
Trusts can accomplish multiple asset management and financial planning objectives, including:
- Reducing potential estate tax liability
- Avoiding probate
- Directing wealth distribution to heirs
- Protecting beneficiary wealth from creditors
- Providing tax-efficient gifts to charities
- Providing for needs in case of illness or incapacity
We’ll work with your legal and tax advisors to design and administer strategies that will preserve the products of your hard work and fulfill your plans for the future.
Estate Administration
Estate administration involves all the activities such as paying debts and taxes and distributing assets to beneficiaries that occur after a loved one is deceased. There are multiple steps to this process that can be a confusing and winding road to navigate alone. The estate planning and administration professionals at The Trust Company of Tennessee will work with you to create a solid plan, then work with your survivors to ensure that your legacy wishes are fulfilled.
Special Needs Trusts
The essential purpose of a special needs trust is to use the trust assets to enhance the quality of life of loved ones with disabilities while also allowing them to receive government benefits. Government benefits have asset and income limits, and the special needs trust keeps beneficiaries from being disqualified. The trusts can be used for home furnishings and modifications, medical expenses, special education and more.
