“Expect the best. Prepare for the worst. Capitalize on what comes.”

-Zig Ziglar

Insights

The Savings Potential of Tennessee Community Property Trusts

Since 2010, a tax avoidance technique has existed in Tennessee that is becoming more and more popular among the estate and financial planning communities.  This technique, known as the Community Property Trust, allows a married couple to transfer property into a joint revocable trust to minimize capital gain taxes when the property is later sold. …

How to Keep a Family Vacation Home in the Family

The fast-paced society that we live in today makes it harder and harder to find quality time to spend with family. But you know this, and that is why you purchased that special place for your family to gather away from the bustle of everyday life. Whether a cabin in the mountains, a house on…

The Perfect Gifts for Your 18-Year-Old

Legally, your 18-year-old’s birthday is a big milestone.  An 18-year-old is recognized as an adult with the legal right to govern his or her own life. For example, they can do all the following: vote, enter legal contracts, apply for credit, obtain medical treatment, have the right to privacy and be completely independent from parental…

Things To Consider Before Agreeing To Serve As An Individual Trustee

 When the grantor of a trust selects a trustee, the grantor often names a family member or close friend. While many people may be honored to be named as trustee, serving in this capacity is a major responsibility that should not be taken lightly.  This is especially true since many individuals have little or no…

Framing The Future For Your Family – Portrait Of A Great Trustee

A GREAT TRUSTEE IS A… 1) PARTNER A trustee respects the grantor’s wishes and the impact of the trust on the beneficiaries. The trustee partners with the family to accomplish the goals and intent of the trust document. 2) TEACHER A trustee explains the trust provisions and helps beneficiaries understand the legacy and intent of…

‘Tis the Season (to Update Your Will)

During this holiday season, one of the best gifts you can give your loved ones is updating your will, trusts, and other beneficiary designations. You may also give yourself a gift: peace of mind. If you have not looked at your estate planning documents in a while, it is time for a review. If you…

Please Pass the Stories

At Your Holiday Table, Please Pass the Stories Some people love the holidays because it’s a reunion of family. Some love the endless stream of football games. Most people love the food, especially those dishes that are cherished family recipes that only come out on the holidays. At Pendleton Square Trust Company, our favorite part…

Is Your Financial Life Online?

The Tennessee legislature passed a law that became effective July 1, 2016, that you should know about. It pertains to your “digital assets” – usernames and passwords for your online accounts. The law gives you the power to give someone else the right to access your online accounts if you become disabled or die. Such access…

Tennessee a Top State for Self-Settled Asset Protection Trusts

With the passage of the Tennessee Investment Services Act in 2007, Tennessee was placed on the short-list of states permitting the creation of “self-settled” asset protection trusts (“APTs”). A self-settled APT is one where the grantor is also a beneficiary of the trust. While the Tennessee APT initially saw much interest from Tennessee residents seeking to…

Why an Independent Trustee May Be the Best of Both Worlds

Selecting the appropriate trustee for your family may be as important as creating the trust itself. As the trustmaker, you want to be assured that the trust will be administered with the care and attention with which it was created. You have several options to explore to determine the best trustee structure for your family. Your…