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He holds a B.S. All rights reserved. She focuses on being responsive, attentive, and understanding to build relationships with the clients and families she serves. Typically, the grantor is named as the primary beneficiary during his or her lifetime and may also act as his or her own trustee. Plan, preserve, and protect your legacy for generationstocome. Chattanooga, TN 37450, Chief Development Officer & Executive Director of Regional Markets, CTFA, Senior Vice President & Business Development Officer, 1000 Ridgeway Loop RoadSuite 105Memphis, TN 38120, Senior Vice President & Managing Director, Corporate Development, 40 Burton Hills BoulevardSuite 300, Burton Hills IVNashville, TN 37215. Rachel holds a B.A. As a Business Development Officer, Bob focuses on building relationships with financial advisors, attorneys, and tax professionals throughout the state of Florida. clerk of court's fee bill adopted pursuant to 42 pa.c.s.a. 7A-307(a)(2a). He also holds a Six Sigma Yellow Belt certification. Either way, its good to know what the market value of trust services. With it, you can use a trust company with trustee fees on your terms. Advisors and estate plannersmay reproduce this survey uponrequest. Laylas background also includes experience in utilities regulation while conducting legal research and writing for the Louisiana Public Service Commission. Owen holds a bachelors degree in Economics from The University of the South in Sewanee, Tennessee. Other companies that start at that level include New Hampshire Trust and Georgia-based Reliance Trust. Tenisha Clausi joined the Cumberland Trust team in 2013. Earlier in her career, Lou Anne worked in the Cook County States Attorney Office in Chicago as an Assistant States Attorney and Prosecutor in the Appellate Division and then in the Abuse and Neglect Division of Juvenile Court. How Can They Provide Better Service to Families? Judy Johnson began working as part of the Cumberland Trust team in 2011, with over 50 years of experience in estate planning and probate in numerous law offices in both Illinois and in Tennessee. Establishing a trust is not merely a plan to minimize taxes. West Virginia Housing Fund Fee, in addition to any excise tax imposed on property transfers. (Really big clients get institutional-strength discounts. An estate or post-mortem trust must be administered carefully, often considering a broad range of assets, specific wishes of the testator, and unique personalities of the beneficiaries. This fee is not to be assessed on assets for which the gross-value fee was She received a J.D. Layla received a B.S. Site by Circa Creative Studios, Conveniently Headquartered in Trust-Friendly Tennessee. In this role, Meredith works with the Personal Trust Administration team to support individuals and families, along with their financial, legal, and tax advisors. realized gains on the sale of any and all trust assets. Previously, Sloan was with Polo Ralph Lauren Corporation for 14 years, serving in many capacities, including Director of Operations for the company. Charitable trusts can have tax benefits for philanthropic families or individuals who wish to donate to charitable organizations. Deed Of Trust. Additionally, she handles special projects for the compliance team. While attending college, she interned with a commercial real estate investment firm. Kim holds a B.S. The Tennessee Community Property Trust Act. There are companies that charge small accounts less (Nevadas Summit Trust will go as low as $100 a year), but plenty start their fees at $4,000 and up. As a member of the Personal Trust Administration team specializing in Distinctive Care, Andrew provides proactive, high-quality service and cultivates supportive relationships with clients, and their financial, legal, and tax advisors through expert, attentive trust administration. Plat or Map. Caroline previously served as an Assistant Vice President and Trust Advisor at SunTrust administering trusts and managing high net worth client relationships. Stocks, after a few years of. Provide for the management of an individuals assets should he or she becomeincapacitated. Rachel now leads the Estate Administration department, which administers trusts and estates of various sizes and complexity throughout the southeast. Her previous experience also includes work as an accountant and as a lawyer in private practice. First Federal Bank is here to support our local businesses with a complete range of commercial banking products. from the University of Illinois, Champaign-Urbana, IL where she majored in Economics. Trusted relationships are at the heart of what we do. If the account has securities or assets, other than Trust Department sponsored mutual funds the fee will be $3.32 per quarter for each security or asset. He assists with various tasks related to real estate; oil, mineral, gas interests; LLC interests and other special assets for Cumberland Trusts clients. There's still a fair amount of mystery surrounding exactly whats baked into each of those basis points. in Business/Management from the University of Phoenix. Previously, Stephen served as Fiduciary Counsel and Special Assets Officerreviewing and preparing documents and working with unique, illiquid, and hard-to-value assets held in trust. Layla is licensed to practice law in Tennessee and Louisiana. Vice President & Director, Special Assets. Alex focuses on providing careful and attentive trust administration, specializing in distinctive care services. Papers for birth certificate in another county one year or more after birth. It also reduces capital gains tax implications after the death of one spouse. These corporate trustees can charge an annual fee of 0.5% to 2% of the trust's assets, in addition to requiring a minimum. All rights reserved. He received his J.D. Cumberland Trust Education Administration and distributions Record-keeping and reporting Premier client service Conveniently Headquartered in Trust-Friendly Tennessee With a connected team of 120+ experts at your service in 10 offices nationwide. Additionally, she is a member of the Estate Planning Council of Middle Tennessee. Posted on . Assistant Vice President & Account Transfer Manager. Donna Wooden brings an extensive background in customer support, project coordination, and office administration to the estate team. Susan Smith joined the Cumberland Trust team in Atlanta in 2017 to help service the ever-growing Georgia market. Is a Revocable, Living Trust Right for You? She has extensive knowledge in the preparation and review of legal correspondence and compliance documents. Robin McNeil joined Cumberland Trust as a Trust Specialist in 2022. Ashley is a Nashville native and earned a B.S. Susan serves as Corporate Strategy and Marketing Officer, supporting Cumberland Trusts growth and nationwide reach through content creation, media relations, and the development, planning, and management of various strategic initiatives aimed at reaching current and new target audiences. She received a professional certification in software programming from The University of Texas at Austin. Lorena Suarez joined the Cumberland Trust administration team in 2014. A Certified Trust and Fiduciary Advisor (CTFA), Lisa holds a Bachelor of Arts and Science degree in interdisciplinary studies from the University of Missouri. in Communication Studies with an emphasis in Public Communications from Marshall University in Huntington, West Virginia. She focuses on topics related to family governance structures, succession planning, and working with a corporate trustee. in Finance with a concentration in Entrepreneurship from the University of Tennessee, Knoxville. Please contact the Admissions Office at 615-547-1246 locally or 800-467-0562 to speak with your Enrollment Specialist or email admissions@cumberland.edu. As Vice President, Trust Officer, and Administration Manager, she is responsible for high net worth personal trust relationship management and account administration. Growth Permit - Application. Laura specializes in administration with distinctive care services, an extra level of support for clients. Prior to joining Cumberland Trust, Laura worked at Blakeford At Home as a Care Manager and Executive Director, providing older adults with information, services, and guidance to maintain the highest level of independence in their home. Plan, preserve, and protect your legacy for generationstocome. While in law school, she developed a passion for estate planning during her time in the Homer A. Jones, Jr. Wills Clinic. Using the directed trust framework, professional advisors are named, often by the family or beneficiaries, to handle specific duties and responsibilities based on that individuals specialty. She assists with various tasks related to real estate; oil, mineral, gas interests; LLC interests and other special assets for Cumberland Trusts clients. Meredith Harville joined Cumberland Trust as a Trust Administrator in 2021. Multi-Participant Trust legislation was enacted in 2013 that encourages the use of trust advisors and trust protectors to assist in the management of a trust. in Political Science from the University of Tennessee, Knoxville and was awarded a J.D. An outside scholarship may cover the access fee only if the scholarship provider submits to the Office of Financial Aid a written statement that stipulates the scholarship . At an annual fee of 75 basis points, this suggests that a trust really needs to have more than around $533,000 in it to earn out that $4,000 minimum fee. She focuses on being responsive, attentive, and understanding to build relationships with the clients and families she serves. In her role, Shelly connects individuals, families and their financial, legal, and tax advisors with Cumberland Trusts high caliber trust and estate administration services. We focus solely on trust and estate administration so that financial advisors, accountants, and attorneys can focus on what they do best. Some vendors refused to participate in the survey because they either work on an a la carte basis (Peak Trust) or figure out what to charge once they see the trust paperwork (Commonwealth Trust). Lindsay holds a Bachelor of Music in Music Therapy with a Minor in Psychology from the Berklee College of Music in Boston, Massachusetts. As Senior Vice President and Managing Director of Trust Administration, Caroline is responsible for relationship management and account administration, with a focus on high-net-worth families and their needs. Jessica holds a B.S in Marketing from Indiana University and an MBA from Belmont Universitys Massey Graduate School of Business. He received a J.D. Account minimums tend to be relatively lowWealth Advisors Trust and Santa Fe Trust can theoretically start a trust with as little as $1but expenses can be a little higher to cover the fixed cost of administering these tiny trusts. Phone: 717.240.6100. Building Connected Insurance Offerings Starts With Customer-Focused Innovation, Model Portfolio & SMA Strategists Selection Guide, The 2022 TAMP GROWTH SUMMIT | RECEIVE 1.5 HRS CE CREDIT, 2022 America's Most Advisor Friendly Trust Companies, America's Best Trust Technology Buyers Guide 2021-2022. Previously, while attending law school, he served as a law clerk to the Honorable Judge Kathleen N. Gomes in Division 1 of the Shelby County Probate Court. Jennie holds a B.S. While attending college, she held various internships in sales and marketing. In this role, Millie works with the Personal Trust Administration team to support individuals and families, along with their financial, legal, and tax advisors. Roberts previous experience also includes roles at LegacyTree Foundation and Regions Bank. With Cumberland Trust serving as an unbiased, third-party executor, co-executor, trustee, or co- trustee, care and attention will be at the forefront as we work to understand the estate plan. Heather develops relationships with individuals, families, and their professional advisors in North Carolina, South Carolina, and East Tennessee. Meg Cressman joined the Cumberland Trust team in 2022 as Vice President, Compliance and Audit Officer. She earned a masters degree in Industrial and Organizational Psychology from Middle Tennessee State University. Shelly Donaldson serves as the Vice President and Business Development Officer based in Cumberland Trusts Atlanta office. Preservation fee is $1.00 per page for pages 1-9, $2.00 per page for pages 10-19, $3.00 per page for pages 20-29, $4 per page for pages 30-34. The resulting team of experts then works together to provide the beneficiary with care and expertise, ensuring optimal management and administration of the trustorestate. Fees charged by outside investment managers are separate and apart from the fees payable under this schedule. She assists in the onboarding of new Cumberland Trust clients and their advisors, providing attentive support during times of change. Greg received a Business Administration degree, with minors in Organizational Management and Health Promotions from Aurora University, Aurora, Illinois. Andrea holds a B.A. In this role, she works with the compliance department to ensure that new accounts are properly documented and opened correctly. In his role, Jody administers personal trusts, providing responsive service to our clients and their external advisors. Cumberland County - Tennessee. We provide continuity to ensure that beneficiaries have a reliable trustee and someone to turn to throughout the duration of the trust, Qualified personal residence trusts (QPRTs). No cost to post a project to get multiple bids in hours to compare before hiring. He is a Certified Trust and Financial Advisor (CTFA) and has completed Cannons Trust School program. Her background also includes experience in federal and state contract management, and insurance defense litigation. It all depends on the size of account theyre courting and what makes economic sense, Christopher Holtby, president of Wealth Advisors Trust Company, told me. in Taxation from the University of Florida Levin College of Law. in Education from Middle Tennessee State University and a Paralegal Certification from Southeastern Paralegal Institute in Nashville, Tennessee. Subscribe to receive Cumberland Trust news, resources and insights in your inbox. She builds client relationships by providing proactive, high quality service to clients and their legal, financial, and tax advisors. Ensure that government assistance continues while the basic level of care is supplemented for a child with specialneeds. from Indiana University Maurer School of Law and is licensed to practice law in Tennessee. She studied abroad at the University of London through Biederman Entertainment and Media Law Institute. Previously, Greg worked in human resources and in youth sports. Prior to joining Cumberland Trust, Ryan worked for litigation firmshandling cases involving complex commercial litigation, bankruptcy, and personal injury. Other high-end trust companies argue that at this level, its pointless to advertise your fees because high-net-worth clients and their advisors are happy to pay for the service. What is a Directed Trustee? Cumberland County. Before joining Cumberland Trust, Lori worked in the Institutional Sales division and Private Wealth Management group at Merrill Lynch and at Morgan Keegan and J. C. Bradford and Company. Prior to joining Cumberland Trust, she served as the founding Director of Operations for a Middle Tennessee anti-human trafficking nonprofit organization. Before joining Cumberland Trust, Nathan worked as a Senior Consultant with Financial Industry Technical Services. Prior to joining Cumberland Trust, Lauren worked as a Brokerage Client Specialist with Wells Fargo Advisors. Schedule a Visit. $10 (register may waive for person over 62 years old) Birth certificate after one year or more for same county, with one certified copy. Previously, Evelyn worked in the banking industry, with experience in audit management, commercial relationship management, and credit analysis. As with the TISA, this act requires that the trustee is a Tennessee resident or trust company. in Business Administration and Economics from Rhodes College in Memphis and an M.B.A. in Finance and Marketing from Indiana University. Michelle holds a B.A. Learn more to protect yourself and avoid falling victim. He has completed Cannon Trust School I. Site by Circa Creative Studios. Prior to joining Cumberland, he also worked as a law clerk for Stites and Harbison, PLLC in Franklin, Tennessee. Our team works in conjunction with any external property managers. What are Tennessee Community Property Trusts. As Trust Officer in personal trust administration, Laura focuses on providing a high quality of service to clients. Caroline is a member of the Tennessee Bar Association, Nashville Bar Association, and the Estate Planning Council of Middle Tennessee. Debbie is a Certified Trust and Financial Advisor (CTFA), graduate of the Cannon Trust School, through Cannon Financial Institute, and has received the Chartered Special Needs Consultant (ChSNC) Designation. Lauren holds a bachelors degree in Business Administration with a concentration in Marketing from the University of Tennessee at Martin. But there are a lot of vendors out there that are happy to offload the investment responsibilities and knock a bit off their fees in return. Tim McCoy joined Cumberland Trust in 2022 as a Trust Officer on the Special Needs Trust Administration team. She received her J.D. In this role, she works with the compliance department to ensure that new accounts are properly documented and opened correctly. Haley Tucker joined the Cumberland Trust team in 2019. Vice President & Director, Estate Administration. CAREERS & OUR CULTURE Joseph K. Presley This person has built an asset base and wants to ensure that those assets are distributed according to their wishes. Previously, Mr. Presley served as Chairman, President, and CEO and as President and Chief Operating Officer of Cumberland Trust. Previously, she served as Vice President, Trust Advisor at SunTrust Investment Co. handling Trust Administration for their private wealth management department. Prior to joining Cumberland Trust, Elly served as Deputy Finance Director for a Nashville mayoral campaign and prior to that as a director of a prison re-entry program in Texas. in Business Administration from Middle Tennessee State University, with a major in Finance. Military discharge certified copy as authorized. Please email recorder@cumberlandcountypa.gov or call 717.240.6370 to schedule an appointment. Additionally, she is a member and past board member of Le Bonheur Club and is active with the Down Syndrome Association of Memphis and the Mid-South and SRVS Kids & Families. Sharon is a registered CPA in Arkansas and is licensed to practice law in both Arkansas and Tennessee. An essential planning tool, a will dictates distribution of your assets from your estate to surviving family members, friends, or favored charitable organizations. She was awarded the Certified Trust and Financial Advisor Designation (CTFA) and is a graduate of Cannon Trust School, through Cannon Financial Institute. Lindsay earned a B.A. In many cases, the principal of the trust is distributed to remainder beneficiaries. In this role, Chase focuses on Cumberland Trusts corporate operations. She also studied abroad at the University of Aberdeen in Scotland. Through collaboration with our Trust and Estate Administration team members, she provides a high level of expertise to her clients. stickman swing cool math; ufc gym plantation; how to send certified mail with return receipt; bronwydd house porth history Previously, Shelby held positions at a nationwide mortgage lender and with a Nashville real estate team. Sharon Winkler joined Cumberland Trust in 2007 and serves as Senior Vice President, Special Counsel, Chief Regulatory Compliance Officer. Prior to joining Cumberland Trust, Shelly founded The Donaldson Law Firm following experience at other firms including Lefkoff, Duncan, Grimes, McSwain & Hass, P.C. He has held internships with Davos Investment Group, performing macroeconomic and market research; as well as Vault Investment Properties, working with real estate investment. Definition of a Corporate Trustee in Accounting. Jennie has served on the Board of Directors of Vox Grata since 2017. All rights reserved. Lauren holds a bachelors in business administration and a MBA from the University of Mississippi. He holds a B.B.A. Hannah Kimbrough serves as a Trust Officer in Personal Trust Administration. Prior to joining Cumberland Trust, Katelynn worked for several years in Operations within the financial industry. in Advertising and Public Relations from the University of Arkansas. in Business Administration from Hanover College in Hanover, Indiana. Provide for the management of assets while a person is still living and govern how assets will be distributed upondeath. Either way, Christopher Holtby of Wealth Advisors Trust told me that theres always room for enthusiastic competitors. When asked to present a benchmark, he estimated that a relatively bare-bones Peak Trust account might charge 50 basis points a year or an annual minimum of $3,500. Creates engaging experiences that inspire conservation action. cumberland trust fee schedule. Life Insurance Funded Plans Base Fee: $200.00 (where primary duty is to act as trustee for insurance policies). Over her tenure at Cumberland, she has gained a broad knowledge of the trust industry and has worked with a variety of trust types and circumstances.