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STATE OF TENNESSEE DEPARTMENT OF FINANCIAL INSTITUTIONS Tennessee Tower, 13th Floor, 312 Rosa L. Parks Avenue Nashville, TN 37243 (615) 7412236 FAX (615) 2537794www.tennessee.gov/tdfi/ DEPOSITORY
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Gather all necessary information and documents related to the trust
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Identify the trustee(s) who will manage the trust assets
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Specify the beneficiaries who will benefit from the trust assets
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A trust is a legal agreement between a trustor and a trustee to hold assets on behalf of beneficiaries. Public trusts are created for charitable purposes while private trusts are created for personal or family reasons.
The trustee is required to file public and private trust documents with the appropriate authorities.
To fill out public and private trust forms, the trustee must provide information about the trust's assets, beneficiaries, and purpose.
The purpose of a public trust is to benefit the community or the public at large, while the purpose of a private trust is to benefit specific individuals or families.
Trust documents must include information about the trust's assets, income, beneficiaries, and any distributions made.
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