Trusts - Most trusts are established for two common purposes:

• Maintain control of resources or grant control to a trustee
• Provide a tax-efficient disbursement method for the resources in trust

Placing resources in trust for family members is probably the single best way to transfer or convey property, while minimizing taxes and preserving resources. In addition, since trusts are typically administered by a trustee, the settler of the trust does not have to worry about the day-to-day functioning of the trust.

A trust is a legal arrangement that allows for the holding of property by a trustee for the benefit of another person (the beneficiary) or for yourself (the settler).

Maintaining assets in a trust is an effective way to minimize taxes and preserve a larger inheritance. With the help of a Tennessee trust attorney, the use of a trust can also be a way to provide a steady stream of income to the beneficiary over the course of time, rather than a lump sum distribution. This strategy can reduce the beneficiary's tax liability and allow the trust to grow over time, assuming the assets are invested properly. Charitable trusts have also become a popular option recently.

Our Tennessee trust attorney offices work with clients to establish and administer all types of trusts, including:

• Revocable / Irrevocable Trusts
• Real Estate Trusts
• Generation Skipping Trusts
• Charitable Trusts
• Minor Trusts
• Special Needs Trusts
• Supplemental Needs Trusts (For Elderly Relatives)
• Disclaimer Trusts

Establishing a trust through a Tennessee trust lawyer as part of your comprehensive estate plan provides the peace of mind that comes from knowing your assets are protected. With a proper trust, no matter what happens to you, your designated trustee has a fiduciary duty to carry out your wishes in compliance with the trust instructions. After learning your objectives, our Tennessee trust lawyers can advise you on the most appropriate trust for you.