Welcome to Our Resource Hub
Whether you’re setting up a trust or have been appointed as a trustee, understanding the intricacies of trust structure and management is essential. Tennessee offers unique advantages for trusts, including flexibility and favorable tax benefits. We offer guides, articles, and resources to help you navigate the world of Tennessee trusts and trustee responsibilities.
Why Consider Tennessee for your Trust?
For almost 20 years, the Tennessee State Legislature has increasingly modernized trust laws for families and individuals to consider the “The Volunteer State” as a sustainable home for their trusts. So, what makes Tennessee such a compelling solution for trusts, and why should families consider this jurisdiction for their multigenerational wealth planning for years to come?
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Trustee Considerations: The Decision Matters
One of the most important decisions one will make concerning a trust is who will serve as trustee. The trustee role is a major decision as
it will impact the investment management, security, and potentially the preservation of the trust for generations. With Federal and state laws relating to income, investment and estate taxes changing on a frequent basis, and as personal financial circumstances become more sophisticated, the value of professional fiduciary expertise is important for wealth preservation.
Preserving Wealth Through Tumultuous Times
With the constant back and forth between Democrats and Republicans, stock market volatility, rising concerns about bank failures and tax impermanence, it is safe to say that there is considerable anxiety among us. How can one expect to implement long-term trust strategies utilizing all the benefits of estate planning with such disorder?
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Bifurcation of Fiduciary Roles: Directed vs. Delegated Trusts
Today, with the financial sophistication of families and the various choices available to consider when transferring assets to multi-generations and ownership of wealth, families are seeking dynamic estate planning solutions to ensure assets are controlled and maintained on their terms. Wealth may be concentrated in a particular investment, or a function of having a family business, commercial real estate portfolio, or a relatively heavy weighting in alternative investments, such as hedge funds or private equities. While these assets may have served the family well in creating wealth, they can present difficulties in implementing effective estate planning or asset protection strategies.
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