Family Private Trust Companies
Many wealthy families today can find themselves holding a highly diversified range of assets and interests, both in terms of their location and composition.
Inevitably, it can become quite a challenge to determine how best to consolidate the family’s holdings and to ensure their proper management, both for the present and for the long term. Amongst a number of potential solutions to this conundrum, there is the Family Private Trust Company. Key attractions are summarised as follows:
- incorporated principally for acting as trustee for one particular family
- family can enjoy a level of participation, influence and control
- the company’s board can comprise members of the family and their professional and personal advisors.
- can be optimised for legal control, taxation and for succession planning.
- can accommodate numerous corporate subsidiaries with a wide range of investment and commercial activities
- compatible with the family office concept and a private trust company often evolves into a family office
- administration of the company is conducted by a professional administration firm, preferably in a jurisdiction that has bespoke private trust company legislation, such as The Bahamas