What are the responsibilities and job description for the Legal Counsel position at The Trust Company of Tennessee?
Why We Exist
At The Trust Company of Tennessee, we believe everyone can live confidently and reach their financial goals. Would you like to be part of a team that works with individuals, families, businesses, and foundations to identify what success looks like and formulate a plan to get there? Come join our team of Wealth Management, Trust, Estate Administration, and Corporate Retirement Plan professionals who proudly help clients achieve their dreams.
Our Culture
At The Trust Company of Tennessee, we are passionate about fostering a culture where all people feel valued, supported, and inspired to make a difference. We are committed to doing the right things in the right ways for our clients. We uphold the highest standards of integrity, respect, and confidentiality. We believe in the power of positive relationships built on trust and empathy. We proudly serve our clients and community with purpose and heart.
Core Purpose
The Legal Counsel provides The Trust Company of Tennessee with guidance on estate, trust, and unique asset administration. This position is also responsible for providing the company with guidance on general corporate matters including employment, vendor relationships, or compliance.
Responsibilities
- Shows a commitment to The Trust Company’s Mission, Core Values, and Client Promise.
- Negotiates, drafts, and reviews documents for The Trust Company of Tennessee – including general contracts, third-party agreements, promissory notes, and vendor/supplier agreements.
- Negotiates, drafts, and reviews commercial real estate leases and purchasing agreements for TTC.
- Provides clients with explanations and visual representations to assist in the understanding of the administration of trust documents or wills.
- Actively participates in the client experience through organizational collaboration to ensure proper development and execution of trust and estate documents to meet the client’s financial purpose.
- Navigates the estate administration process – including but not limited to securing assets, determining appropriate distribution schedule, providing progress updates, etc.
- Manages compliance issues regarding new trust onboarding, administration, and trust termination.
- Communicates with Relationship Managers to answer client and beneficiary questions regarding TTC accounts.
- Responsible for issues related to Unique Assets held in IRAs – including UBITA and prohibited transaction compliance.
- Evaluates potential new accounts and makes recommendations regarding discretionary powers TTC has as executor and/or trustee. Identifies liability issues associated with any acceptance of a fiduciary role.
- Assists RMs with estate, trust, and unique asset administration in accordance with trust instruments and client relations – including reviewing wills and trust agreements and determining fiduciary responsibilities.
- Provides guidance on policies and procedures relating to estate, trust, and unique asset administration with applicable regulations.
- Reviews policies and procedures to support the Compliance Officer.
- Maintains an in-depth understanding of applicable laws and regulations with regard to trust companies, trusts, estates, unique assets, and tax issues.
- All other projects and duties as assigned.
Qualifications
- Juris Doctorate degree and member in good standing of Tennessee State Bar
- Minimum of three years’ experience as active legal counsel
- Comprehensive knowledge of trust and estate administration
- Ability to read and comprehend complex legal documents
- Detail-oriented
- Ability to work in a team environment but willing to work independently
- Excellent verbal and written communication skills
- Effectively plans and organizes tasks.
- Excellent decision-making and problem-solving skills