Franklin Trust Lawyer

Are you looking for a trust lawyer in Franklin, TN?

At Patterson Bray PLLC, we provide trust representation grounded in more than 20 years of work on behalf of clients in Franklin.

If you want to keep your home, savings, or business out of probate in Franklin, a trust can hold those assets and pass them to your family on the terms you set. A Franklin, TN trust lawyer can draft the trust, transfer the right assets into it, and guide your successor trustee when the trust takes effect.

Patterson Bray PLLC has served Tennessee families for more than 20 years from offices in Memphis and Brentwood. Our attorneys advise clients on revocable, irrevocable, and charitable trusts, as well as trust administration. Contact us to schedule a free consultation.

Trust Lawyer Franklin, TN

A trust lawyer in Franklin, TN prepares the legal documents that allow one person to hold property for the benefit of another. That work includes creating the trust, naming the trustee and beneficiaries, transferring assets into it, and advising the trustee once the trust takes effect. As the CFPB explains, a trustee has no authority over property that was never placed in the trust.

The median value of an owner-occupied home in Franklin was $705,400 for 2020 through 2024, according to Census Bureau QuickFacts. For many families, the house is the largest asset a trust will hold. A home still titled in an individual name can end up in probate anyway, which is why the deed is often the first document we prepare.

Types of Trust Cases We Handle in Franklin

Trust work involves far more than a single document. Our Franklin, TN trust attorneys prepare planning trusts for individuals, married couples, and business owners, and we also guide trustees through administration after a death or incapacity. Each trust type serves a different purpose, so we start by identifying what the client wants the trust to accomplish.

• Revocable living trusts. A living trust lets you manage your own assets during life and name a successor trustee to take over later. Most clients who ask a Franklin trust lawyer about avoiding probate start here, and we prepare the deeds and account changes that fund the trust.
• Irrevocable trusts. These trusts generally can’t be changed once they’re signed. That permanence makes them useful for lifetime gifts and estate tax planning. Common examples include irrevocable life insurance trusts and gift trusts.
• Special needs trusts. An inheritance left outright to a relative with a disability can affect that person’s eligibility for public benefits. Careful special needs planning holds those funds in trust so the beneficiary keeps that support.
• Tennessee community property trusts. Tennessee is a separate property state, but married couples may elect community property treatment for assets placed in this type of trust. We review whether the election suits a couple’s tax and family goals.
• Asset protection trusts. Physicians, contractors, and business owners with litigation exposure often consider a domestic asset protection trust. These plans work best when they are created well before any claim arises. We coordinate the trust with LLCs and other entities when that structure makes sense.
• Charitable trusts. Charitable remainder trusts and charitable lead trusts let a client support a cause while still providing for family. We coordinate these arrangements with the rest of the estate plan.
• Educational and incentive trusts. Some parents prefer to tie distributions to school, a career milestone, or a particular age. These trusts put those conditions in writing. A trustee can also be given discretion to cover health or emergency needs.
• Trust administration. When the person who created a trust dies or becomes incapacitated, the successor trustee takes on legal duties to the beneficiaries. We help trustees gather assets, pay expenses, keep records, and make distributions.

Why Choose Patterson Bray PLLC as My Trust Lawyer in Franklin, TN?

Tax and Accounting Training Behind Every Trust

Larry R. Bray worked as a tax accountant before he practiced law. He earned his accounting degree cum laude and his law degree from the University of Memphis, and he is admitted in Tennessee, Kentucky, Wyoming, New York, and the United States Tax Court. His practice centers on wills and trusts, trust administration, asset protection, and business succession.

That training shapes how our trust lawyers in Franklin, TN handle gift, estate, and income tax questions. Larry holds the highest AV peer rating from Martindale-Hubbell and is a member of WealthCounsel. Clients who hire us as their estate planning lawyer in Franklin, TN benefit from that background on every trust we draft.

Trust Results for Business Owners and Families

Larry has used trust-based planning to move substantial wealth to the next generation. His estate planning case studies include these matters:

• A $30 million estate transferred to heirs free of estate tax through gifts to irrevocable trusts made before the sale of a national company
• A construction company structured so that $20 million of its $30 million sale price will pass to the family free of estate tax
• An asset protection plan that shielded $7 million of a contractor’s assets from later creditors

What Is Important To Understand About Trust Cases?

Key Trust Documents and What They Do

The first decision is whether a trust will be revocable or irrevocable. That choice shapes every document that follows.

• Trust agreement. This document names the grantor, trustee, successor trustee, and beneficiaries and sets the rules for distributions.
• Pour-over will. It directs any asset left outside the trust at death into the trust, and our wills practice in Franklin prepares it with the trust.
• Deeds and assignments. These instruments transfer real estate and personal property into the name of the trust.
• Certification of trust. Banks and title companies often accept this short summary in place of the full agreement.
• Powers of attorney. Financial and health care powers of attorney cover decisions the trust itself doesn’t reach.

What Are Important Aspects of a Trust Case?

A trust works only as well as its funding and its choice of trustee. Our trust attorneys in Franklin address the following issues in every plan.

• Funding. Real estate must be deeded to the trust and recorded, and accounts must be retitled. Assets left out may still pass through probate.
• Trustee selection. The right trustee needs sound judgment, time to serve, and a workable relationship with the beneficiaries.
• Beneficiary forms. Retirement accounts and life insurance pass by designation, so beneficiary designations must match the trust plan.
• Updates. A revocable trust can be changed or terminated as family circumstances shift.

What Is The Trust Case Timeline?

Creating the trust is usually the shorter part of the process. Administration after a death takes longer, and its pace depends on the assets involved and the instructions in the trust.

1. We meet to review your assets, family, and goals.
2. We draft the trust agreement and related documents for your review.
3. You sign the documents, and the trust is funded through new deeds and account changes.
4. The plan is reviewed after marriages, births, deaths, or major purchases.
5. When the grantor dies, the successor trustee gathers assets, files required returns such as IRS Form 1041, and distributes property.

What Should You Bring to Your Trust Consultation?

Accurate asset information lets us recommend the right type of trust at the first meeting. We suggest gathering the following records.

• Recent statements for bank, brokerage, and retirement accounts
• Deeds or recent tax records for any real estate
• Existing wills, trusts, or powers of attorney
• Operating agreements or other ownership documents for any business you own
• Names and contact details for your intended trustees and beneficiaries

During the consultation, we review these records and explain which trust structure fits your goals. We’ll then outline the next steps before any drafting begins.

Williamson County Probate Court and Local Resources

Williamson County doesn’t have a stand-alone probate court. According to the county court system page, probate matters are filed in Chancery Court, where the judges of the 21st Judicial District sit as chancellors. The Clerk and Master’s office handles those filings at the Williamson County Judicial Center in Franklin.

A funded trust keeps many assets out of that process, which is one of the most common reasons clients retain a Franklin, TN trust attorney. When property was left outside the trust, our probate practice in Franklin can handle the court side. Funding a trust with Franklin real estate usually requires recording a new deed with the Williamson County Register of Deeds on West Main Street.

Reach Out to Patterson Bray PLLC to Schedule a Consultation

A trust protects your family only when it’s drafted and funded correctly. Patterson Bray PLLC offers a free consultation to Franklin residents who want to create a new trust, update an older plan, or serve as a successor trustee. Our office answers calls 24 hours a day, and an attorney will follow up after you reach out. Contact us to schedule a time that works for you.