It's time to rise at Cumberland University We believe your college experience should be intensely personal, intellectually challenging, and full of meaningful moments. Cumberland Town Hall, 290 Tuttle Road, Cumberland, ME 04021, (207) 829-5559 Email Us Hours: Monday-Wednesday: 8am-5pm, Thursday: 8am-6pm, Friday: CLOSED. Site by, New Legislation Maintains Tennessees Status as a Leading Trust-Friendly State. Kimberly George joined the Cumberland Trust team in 2014. in Political Science from Colgate University. There are companies that charge small accounts less (Nevada's Summit Trust will go as low as $100 a year), but plenty start their fees at $4,000 and up. Do you want to learn more about personalized trust and estate services? She also manages a growing team of Special Assets Administration professionals providing specialized administration of these complex trust assets. She also studied abroad at the University of Aberdeen in Scotland. Prior to joining Cumberland Trust, Riley worked as an Operations Analyst at UBS Financial. All rights reserved. Caroline received a B.A. 36-2000 (42 pa.c.s.a. 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. Trust Fee Schedule. While attending college, she interned with a commercial real estate investment firm. Some of the advantages of a corporate executor include: Establishing an estate plan is essential and can provide you and your family with security and peace of mind for the future.Estate planning is not one-size-fits-all and varies in complexity depending on individual needs. 2022 Orphans' Court Calendar (pdf) 2022 Full Court Calendar (pdf) Rules. Danielle is currently pursuing an MBA with a concentration in Finance. Roberts previous experience also includes roles at LegacyTree Foundation and Regions Bank. * Preservation fee added to every recorded . Mr. Clements heads up a legal team, made up of attorneys, compliance officers, and specialists. Prior to joining Cumberland Trust, Adriana worked as an Account Manager in the direct mail industry, managing the status of accounts and supporting client relationships. Advises family on tax laws and implications. In this role, Kailey provides direct support to the business development team, assisting with ongoing development and onboarding of new and prospective Cumberland Trust clients and their professional advisors. Owen holds a bachelors degree in Economics from The University of the South in Sewanee, Tennessee. In this role, Judy administers estates and administrative trusts, guiding families and individuals during times of loss and transition. He received his J.D. In this role, she works with the compliance department to ensure that new accounts are properly documented and opened correctly. Gina holds a B.S. C. Runcie Clements, IV joined Cumberland Trust and Investment Company in 2002 and serves as Chief Legal Officer and General Counsel. Judy serves as Vice President and Trust Officer on the estate administration team. in International Studies and French from Rhodes College in Memphis. She has extensive knowledge in the preparation and review of legal correspondence and compliance documents. Vice President & Director, Special Asset Administration. Jared received a B.S. She is a graduate of Cannon Financial Institutes Trust School and has been awarded the Certified Trust and Financial Advisor (CTFA) designation. He specializes in guiding high-net-worth individuals and families through the administration and management of personal trusts and foundations. Our relationship managers provide a high level of communication and responsiveness for the clients we serve. COVID update: Cumberland Park Apartments has updated their hours and services. As Assistant Vice President and Compliance Officer, Harriet ensures that accounts are opened or closed and documented accurately. Impartiality. Caitlyn holds a B.S. Alex is the Vice President and Director of Cumberland Trusts personal trust administration division. Subscribe to receive Cumberland Trust news, resources and insights in your inbox. Fee Schedule - Effective July 2021. Elly Hutchings joined the Cumberland Trust team in 2015. Prior to joining Cumberland Trust, Katelynn worked for several years in Operations within the financial industry. Vice President & Director, Personal Trust Administration. In this role, she reviews and drafts documents relating to incoming and transferring trusts. Senior Vice President & Managing Director, Trust Administration. We work closely with attorneys and financial advisors who have established estate plans and investment objectives for their long-standing clients. Heather Savage is Senior Vice President and Business Development Officer based out of Cumberland Trusts Knoxville office. In this role, she works with the compliance department to ensure that new accounts are properly documented and opened correctly. 40 Burton Hills Boulevard Suite 300, Nashville, TN 37215-6292. He holds a B.B.A. Chris has many years of experience in relationship management and trust account administration and has specialized in serving high net worth individuals and families. Assistant Vice President & Account Transfer Manager. Laura holds a Bachelor of Social Work from the University of Mississippi and a Master of Social Work from St. Louis University. $3.00 will be charged for each distribution . Kimberly holds a B.A. Yes, each of our clients has a primary relationship with a dedicated trust officer or administrator. Minimum annual fee = $250 Investment Fees: Fees charged by investment managers are passed on to the fund Currently averages less than 25 basis points (1/4 of 1%) Credit Card Fees: While Cumberland Community Foundation does not charge a fee, the credit card processing company charges a processing fee There is no worry that we will be influenced to favor one beneficiary over another. Source: Websites and telephone interviews. Outside of work, Bonnie enjoys volunteering at Grace Works and One Generation Away. Eloise holds a bachelors degree in International Global Studies with a minor in French from Sewanee: The University of the South. Remainder beneficiaries are those beneficiaries that succeed the interest of the current beneficiaries. Prior to Cumberland Trust, Sara worked at a Maryland title company and has experience with title searches, deeds and other loan documentation. Prior to joining Cumberland Trust, Ryan worked for litigation firmshandling cases involving complex commercial litigation, bankruptcy, and personal injury. 1 Courthouse Square Carlisle, PA 17013. In this role, Ryan works with the personal trust administration team to support individuals and families, along with their financial, legal, and tax advisors. Caitlyn A. Lovell joined the Cumberland Trust team in 2019. He is licensed to practice law in Tennessee. Some wills can establish trusts for asset protection purposes or determine guardianship of minor children in the event of both parents death. Bid Notifications. Based in Nashville, TN, Cumberland Trust is a small finance company with only 121 employees and an annual revenue of $2.0M. Some firms work strictly from a rate card. Previously, Helina worked in the banking industry, with experience in data analysis and documenting accounts. Haley holds a degree in environment and sustainability with a minor in political science from Sewanee: The University of the South in Sewanee, Tennessee. She serves as Senior Vice President and Managing Director of Tax Administration. in Corporate Management and Marketing from Lipscomb University. 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. It also reduces capital gains tax implications after the death of one spouse. Helina received a B.A. In this role, Millie works with the Personal Trust Administration team to support individuals and families, along with their financial, legal, and tax advisors. Prior to joining Cumberland Trust, she worked as a Branch Manager with SunTrust Bank in Nashville, TN. The place is well-maintained and the pools are absolutely beautiful. No. Harriet received a B.S. Ms. Kirkpatrick is a sustaining member of the Junior League of Nashville, former president of the Harding Academy Parent Association, and has served on the board for Nashville Childrens Theater. A corporate executor or co-executor can be especially helpful when modern family dynamics may be involved. She is involved in the community supporting children in the foster care system and she previously fostered a child in her home for about 2 years until they were adopted. , passed in 2002, encourages the use of modern portfolio theory in managing trust assets and defines how trust investment management may be delegated to an investment manager. Jody Hines serves as Vice President and Trust Officer in the Personal Trust Administration department. Fee Schedule. Jennie has served on the Board of Directors of Vox Grata since 2017. in Finance from the Middle Tennessee State University. Prior to joining Cumberland Trust, Meredith worked for over five years with Nike, Inc. in their Tennessee offices. Matt Skeens joined Cumberland Trust as a Trust Administrator in 2022. He focuses on connecting Florida individuals and families and their professional advisors with high caliber, directed trust administration services. Jessica Kopperud joined the Cumberland Trust team in 2018. Lindsay Phillips joined Cumberland Trust as a Trust Specialist in 2022. Prior to joining Cumberland Trust, Phillip worked as an intern on Capitol Hill for U.S. What are Tennessee Community Property Trusts. But at that level, its going to be very difficult to stay in the business.. Susan earned a B.A. Previously, Elly served as a trust officer in Cumberland Trusts Nashville headquarters, administering trust relationships and providing direct client support. He assisted the senators staff in the drafting of legislative documents, helped prepare for Senate Appropriation Committee meetings, and learned about the legislative process from behind the scenes. Provide income for the trust creator during their lifetime with the remainder left to a charity orinstitution. Ourso College of Business. Wealth Advisors Trust Co. trustee fee schedule rests on hourly, fixed and percentage of assets. Many matters that used to require a court to resolve may now be resolved by agreement among the beneficiaries. I used them twice recently, moving to and from Pennsylvania. Laura specializes in administration with distinctive care services, an extra level of support for clients. This could mean naming current beneficiaries and then allowing for the inclusion of others born after the trusts inception. Our Cumberland Trust Family is Here to Take Care of Yours Trusted relationships are at the heart of what we do. Life Insurance Funded Plans Base Fee: $200.00 (where primary duty is to act as trustee for insurance policies). The Tennessee Investment Services Act, passed in 2007, allows the creator of a trust to place assets in a Tennessee Investment Services Trust, also known as a self-settled or asset protection trust, to protect them from future lawsuits, creditors, and other predators. 7A-307(a)(2a). She focuses on being responsive, attentive, and understanding to build relationships with the clients and families she serves. in American Studies from the University of Tennessee (summa cum laude). 633 Chestnut Street At Cumberlands start, Michelle, a Trust Officer, helped to establish the open architecture platform that focuses on helping families and forming partnerships with advisors. The resulting team of experts then works together to provide the beneficiary with care and expertise, ensuring optimal management and administration of the trustorestate. Katrina Martin joined the Cumberland Trust team in 2020. Previously, Greg worked in human resources and in youth sports. Hannah Kimbrough serves as a Trust Officer in Personal Trust Administration. As a Trust Administrator and collaborative member of the Personal Trust Administration team, Mary Elizabeth provides proactive, high-quality service and cultivates supportive relationships with clients, and their financial, legal, and tax advisors through expert, attentive trust administration. In this role, she works closely with external and internal auditors, while focusing on Fiduciary Compliance, Corporate Compliance, and Regulatory Compliance. But beyond that level, technology keeps improving and letting efficient trust companies bring down their overall cost proposition. Kathy Roberts of Santa Fe Trust agrees. Through collaboration with our Trust and Estate Administration team members, she provides a high level of expertise to her clients. All rights reserved. Personal Trust Administration She is a member and past board member of the Financial Planning Association of Greater Memphis and a member of the Memphis Estate Planning Council. Prior to joining Cumberland Trust, Layla held the role of contract drafting, review, and negotiation for Vanderbilt University Medical Center as well as experience in due diligence contract review for healthcare companies anticipating mergers and acquisitions. SCAM ALERT: Phone scams requesting money have been reported. She is a member of the Society of Trust & Estate Practitioners and earned Financial Planning Certificates 1, 2, and 3 from the Chartered Insurance Institute in the UK. in Accounting from Manhattanville College in New York. Douglas Stratton joined Cumberland Trust as a Trust Officer in 2022. Our team is experienced in handling specialized trusts, illiquid assets, and navigating complex family dynamics with diplomacy and respect. Heather Logan joined Cumberland Trust in 2022 as Vice President, Director of Human Resources. "Northern Trust in Delaware charges a reasonable, competitive fee and in return provides comprehensive services to our directed trust clients backed by more than 120 years of experience as a fiduciary, Lindley told me. Senior Vice President, Special Counsel & Chief Regulatory Compliance Officer. 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. Ensure that assets such as a family business are leftundivided. from Indiana University Maurer School of Law and is licensed to practice law in Tennessee. Harriet White joined the Cumberland Trust team in 2012. Site by. Plan, preserve, and protect your legacy for generationstocome. As a Business Development Officer, Bob focuses on building relationships with financial advisors, attorneys, and tax professionals throughout the state of Florida. He also holds a Six Sigma Yellow Belt certification. Previously, she worked as a Teller, then Personal Banker and Assistant Manager in consumer banking at Bank of America, then with Private Wealth Management at U.S. Trust, and on the Commercial Banking Team at Bank of America. 21061 and act no. CAREERS & OUR CULTURE Joseph K. Presley Jody joined the Cumberland Trust team in 2010. All rights reserved. The grantor also specifies the purpose of the trust: if the trust may be altered (and by whom), powers given to the trustee, and when disbursements are to be made. In this role, Riley works with the asset transfer team, helping to ensure that new accounts arrive to Cumberland Trust smoothly and efficiently. in Business Management (Deans list & OVC Commissioners Honor Roll). Jennie focuses on being responsive, attentive, and understanding in order to build relationships with the clients and families she serves. To contact us, click here. Previously, Carla worked in Cumberland Trusts personal trust administration and tax divisions. Previously, Haley worked as a trust specialist in the Distinctive Care Division, specializing in providing assistance to trust officers and administrators, and focusing on supporting clients with special needs. Prior to joining Cumberland Trust, she was a Trust Officer at First Tennessee providing account and administration support to families in the areas of personal trust, employee benefits, and investment management. All rights reserved. If more than one of the foregoing fees could apply to a given Trust Custody Account, the highest applicable fee will apply. Prior to joining Cumberland Trust, Douglas worked as a State & Local Tax Associate at KPMG LLP in Indianapolis, Indiana. . In this role, Ashley provides direct support to the business development team, assisting with ongoing development and onboarding of new and prospective Cumberland Trust clients and their advisors. Specialized knowledge. Natalicia has been a member of the National Associate of Realtors and Greater Nashville Realtors Association since 2017. Site by, The Collaborative Directed Trustee/Financial Advisory Relationship. in History of Art and Architecture from the University of Reading in England. 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. TRUST MANAGEMENT FEE MARKET VALUE OF ASSETS ANNUAL FEE First $1 Million 1.20% Next $4 Million .95% Next $5 Million .65% . The trustee is held to strict fiduciary standards in order to ensure that they can only use assets from the trust property for the beneficiaries, not for their own benefit. Whatever happens, says Kathy Roberts, the CEO of Santa Fe Trust, small accounts shouldnt be loss leaders. With a connected team of 120+ experts at your service in 10 offices nationwide. Cumberland Trust has grown to $5.6 billion in assets under administration and the company continues to deepen its reach in regional markets with additional offices located in Atlanta, Austin . A Trustee doesn't have to be a person - you can appoint a bank or professional wealth management company as Trustee if you want to. Outside of work, he is an avid sports fan and enjoys reading, hiking, exercising, and spending time with friends and family. April Drennan joined Cumberland Trust in 2019. in Psychology and Sociology from Western Kentucky University. Senior Vice President & Business Development Officer. She was awarded her J.D. Previously, Matt Co-Chaired the Paul E. Skeens Scramble for HELP, a golf event that helped raise proceeds for scholarships for need-based, learning-disabled students at Marshall University. Other companies that start at that level include New Hampshire Trust and Georgia-based Reliance Trust. Elsie holds a B.A. Prior to joining Cumberland Trust, he was a Financial Consultant at Fidelity Investments in Chesterfield, Missouri. This legislation allows all of the trust creators top advisors to be involved in the trust management. Sara Kate focuses on being responsive, attentive, and understanding in order to build relationships with the clients and families she serves. Millie holds a B.A. from the Nashville School of Law. Melissa Murray joined the Cumberland Trust Special Needs Trust Administration team in 2021. Additional fees may apply for special services. in Business Administration with a concentration in Pre-Law from the Louisiana State University E.J. Comprehensive trust administration, education, and proactive client service for your family. cumberland trust fee schedule. West Virginia Housing Fund Fee, in addition to any excise tax imposed on property transfers. Business Started Locally: Accountability. An Atlanta native, Susan is involved in the community as an active member of the Junior League of Atlanta. Katelynn Novak joined Cumberland Trust as a Trust Specialist in 2021. 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. Prior to joining Cumberland Trust, she worked as a leader of the Activities Department at Abes Garden Alzheimers and Memory Care Center. in Communications and English from Hope College in Holland, Michigan. Originally from New York state, Bob holds a Bachelor of Science degree in Engineering from Rochester Institute of Technology. from the Cumberland School of Law at Samford University in Birmingham, Alabama. Andrew Serpico joined Cumberland Trust as a Trust Specialist in 2021. Robin also has more than 10 years of experience in sales and customer service and retention with the USA Today Network (Gannett Company, Inc.) as a Sales & Retention Supervisor. Sarah focuses on being responsive, attentive, and understanding in order to build relationships with the clients and families she serves. Prior to joining Cumberland Trust, she worked as an elementary and middle school teacher for more than 20 years in Philadelphia, Nashville, and Pegram. The Tennessee asset protection trust is available to anyone in the country as long as a qualified trustee is a resident of Tennessee or a Tennessee-based trust institution. Trust fees are headed higher according to our pricing survey completed this week. We balance any requests against the interest of both the current income and remainder beneficiaries. Nathan is a Certified Securities Operations Professional (CSOP), a designation awarded by Cannon Financial Institute. Phillip Burnett joined the Estate Administration team as a Trust Administrator in 2018. Prior to joining Cumberland Trust, Runcie was the Charitable Giving Counsel for the American Cancer Society where he advised nationwide staff on legal and tax issues in the areas of planned giving, outright gifts, and other charitable giving arrangements. 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. Chase Caldwell serves as Assistant Secretary, Assistant Vice President, and Director of Finance for Cumberland Trust. degree in Accounting from Asbury University in Wilmore, Kentucky. Toll Free: 1.888.697.0371. Additionally, she has worked with Life Crisis Services and the Incarnate Word Hospital. With a connected team of 120+ experts at your service in 10 offices nationwide. Ashley is a Nashville native and earned a B.S. Provide a measure of protection when beneficiaries may lack the maturity or expertise to manage their ownaffairs. overpaid mortgage interest refund. Chase holds a Bachelors degree in Finance from the University of Tennessee at Chattanooga. legislation was enacted in 2013 that encourages the use of trust advisors and trust protectors to assist in the management of a trust. Avery holds a B.S. Cumberland Trust has provided professional, comprehensive estate settlement services for many years throughout the geographic regions where we serve. Lori is also a graduate of Belmont Universitys Center for Executive Education in Financial Planning and has obtained CFP certification. Site by. Layla Hebert joined the Cumberland Trusts legal team in 2021 and serves as Fiduciary Counsel. Rachel holds a B.A. Layla received a B.S. Alex holds a B.A. No fee. Jeiman earned a Bachelors degree in Business and Technology from the University of Connecticut. While in law school, she developed a passion for estate planning during her time in the Homer A. Jones, Jr. Wills Clinic. Previously, she served as Treasurer at Fort Vancouver TV. Rachel is involved with the Pencil Foundation for Metro Nashville Public Schools literacy program, where she works with elementary students to help them improve their reading comprehension and writing skills.
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