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Key Points of the Webcast: Private Family Trust Companies: What? Why? How?
1. Private Trust Companies Defined:
- Business entities formed by families to act as trustees for their trusts.
- Serve family financial and planning goals.
- Offer efficient and effective integration of family business.
- Optimize governance and involve family members and advisers.
2. Benefits of Private Trust Companies:
- Liability protection for family members serving as trustees.
- Flexibility in managing various assets, including operating businesses.
- Cost efficiency for larger families.
- Tailored decision-making and governance structure.
3. Considerations for Families:
- Requires competent legal counsel.
- Family involvement and experience crucial.
- May require additional support from outside providers.
- Time and cost vary depending on family size and complexity.
Who should listen:
- Owners and managers of family businesses.
- Families with significant wealth and complex estate plans.
- Individuals considering alternative trust management solutions.
- Professionals advising families on wealth management and estate planning.
About Pathstone
Pathstone is an independently owned and operated wealth management firm serving multigenerational families with complex needs, single-family offices, and foundations and endowments. Our comprehensive range of services and deep expertise goes far beyond investment management. Every client has different values, goals, and objectives. No two paths are the same. Our expansive capabilities and personal, in-depth approach enable us to customize our solutions and leverage best practices to accommodate each of our client’s unique needs. It’s what makes us Pathstone – The Family Office.
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