Unregulated, Anonymous & Affordable

PTC OVERVIEW

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.

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.

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 operations from managing investments, centralizing tax, investment and estate planning, privacy and the ability to provide financial tutoring to younger family.

Whether you desire an affordable trustee, sophisticated planning or both, contact us to determine whether a Private Trust Company is the answer.

General Characteristics

Discover Why Increasing Numbers Take This Path

OVERVIEW

  • Trustee For “Family” of Trusts
  • No Regulatory Oversight
  • Family Owned & Operated
  • Simplifies Asset Management
  • Anonymous

ADVANTAGES

  • Reduce Costs
  • Enhance Privacy
  • Control Assets Directly
  • Separate Investment Activities
  • Financially Tutor Younger Family

REQUIREMENTS

  • Division of Banking Approval
  • Secretary of State Approval
  • There Must Be A Member
  • Family Office
  • We Assist With All The Above

Trust Company Terms

A PTC is generally a Limited Liability Company. The entity is used to manage business interests and assets. Some related terms are:

Owner(s):

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

Committees:

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.

Requirements:

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

Numerous states actively compete for trust business. This trend has led to 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.

The PTC iis 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.