Establish A Private Trust Company

Private Trust Company

There are frequent cost concerns when it comes to Independent Trustees. You may also be concerned over who controls the Trust and its assets. If this describes your situation, then you should establish a Private Trust Company ("PTC") to act as Trustee.

Lower Costs:

Less expensive than public alternatives.

Enhanced Privacy:

Avoid providing personal details to a third party.

Control & Flexibility:

Remove barriers, streamline administration and allow sophisticated planning.

A Private Trust Company is unregulated and may be trustee for one or more related trusts. They are surprisingly simple to set up and are flexible enough to meet most situations. Whether you desire an affordable trustee, sophisticated planning or both, contact us to determine whether a Private Trust Company is the answer.

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  • Acts as Trustee
  • Simplifies Asset Management
  • Family Owned
  • Generally an LLC


  • Reduce Costs
  • Enhance Privacy
  • Centralize Planning
  • Separate Investment Activities
  • Financially Tutor Younger Family


  • Division of Banking Approval
  • Secretary of State Approval
  • There Must Be A Member
  • Family Office
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More About Private Trust Companies

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A PTC is an entity, generally an LLC, that assists with managing business interests and assets. The company is generally owned by family, may act as permanent trustee and is structured according to your family's needs. This includes managing investments, trust administration and other related activities.

This flexibility brings advantages such as separating family companies from investment management, centralizing investment, tax and estate planning, privacy and the ability to provide financial tutoring to younger family.

Trust Company Terms


You and your family generally own the entity. Family members and advisors fill officer, committee and other positions.


Though not required, committees are used for administration and operations. These may include a Trust Administration, Distribution or an Investment Committee.

Service Providers:

The PTC may form agreements with family offices, advisors, trust companies, legal advisors and accountants regarding PTC administration.

Articles of Organization/Incorporation:

These contain clauses preventing the PTC from providing services to the public. The PTC may act as Trustee for a related family of trusts.

Governing Documents:

The Bylaws or Operating Agreement govern the company. One should ensure the documents are wrritten to avoid estate tax inclusion. The PTC may form service agreements for administration of said trusts.


The requirements are surprisingly simple. The filing process is fast and the PTC is recognized in the same manner as other business entities. There are no additional processing fees, filing fees, or capital requirements.

Choosing a Situs

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Numerous states actively compete for trust business. Part of this trend is the enacting of statutes which ease the creation of unregulated private trust companies. With this in mind, the PTC should be formed in a jurisdiction friendly to larger asset protection goals.

They are often set up as a limited liability company (LLC) to protect family members serving on an investment committee from personal liability for their decisions. Wyoming was the first state to allow for the creation of an LLC and remains at the forefront of LLC innovations. For this reason, Wyoming is a popular jurisdiction due to the ease of administration and formation, minimal regulation, low filing fees, no income tax and no minimum capital requirements.

Wyoming Sistus Benefits

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Wyoming is the best state to establish a PTC because of our focus on ease of administration and formation. No required capital contributions combined with avoiding oversight by the State Division of Banking help us lead the nation. Other states have minimum contribution requirements of from $200,000 to $500,000 on formation and requiring compliance with operating regulations. Wyoming is thus extremely attractive.

Wyoming also provides particular advantages for investment advisors. These include zero state taxes on trust assets, private trust companies, zero regulation of investment advisors, and settlor-friendly trust laws. Also provided are asset protection benefits for self-settled spendthrift trusts and single member LLCs. These advantages reflect a conscious effort on the Wyoming legislature's part to make Wyoming a pre-eminent asset protection destination worldwide.

Spendthrift trusts prevent creditors from pursuing assets inside the trust. In desirable jurisdictions, e.g. Wyoming, this protection extends to self- settled trusts. Regardless of whether your trust contains a spendthrift clause, Wyoming allows discretionary distributions and protects them until a distribution is actually made. Wyoming law is clear in this respect and creditors may not attach such distributions.

Wyoming recently amended its laws to clarify that a charging order is the sole remedy for creditors pursuing LLC assets, regardless of whether there's only one member. Creditors are not allowed lien or foreclosure rights when pursuing Wyoming Limited Liability Companies. Unlike other states, a creditor may only satisfy judgements via an LLC through obtaining the right to distributions.

This remedy is unattractive since an LLC is under no obligation to make distributions, thus delaying (indefinitely) any settlement. Further, Wyoming’s does not allow foreclosing LLC interests while reducing the risk an LLC's veil may be pierced. This further reduces the risk that claims against the private trust company may be settled using the personal assets of a membebr. PTCss may be used in conjunction with other tools to enhance asset protection.

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