Private Trust Companies and Wealthy Families –
Doing Your Homework

Family Wealth Report Interview 06-23-2014.pdf

The interview and article above does a good job of encouraging wealthy families to do their homework before leaping to a Private Trust Company (PTC) solution to their trust oversight needs. As several of the “trust-friendly” states continue to liberalize statutes governing trusts, we’ve seen a rise in boutique corporate trust companies focused on serving the highest tiers of the private wealth marketplace. With greater flexibility offered by the state of their trust charter, along with a business model tailored to this market, these trust companies offer a viable alternative to going the PTC route for many families.

While families with extensive use of trusts and complex assets (particularly privately held businesses, real estate, etc.) may in the end be better served by their own private trust company, we recommend a thorough legal and business analysis to determine the optimal path.

Contributing author: Steve Randolph, Managing Partner

Original source: Family Wealth Report Interview

July 6, 2014