Keeping You in Control of Family Trust Matters
Private Trust Companies are used to act as trustees of one or more private family trusts for wealthy families. They can also act as trustees of commercial trusts and to hold special purpose vehicles in financial or other structures.
Private Trust Companies allows families to establish their own corporate trustee as opposed to transferring assets to a professional trustee. The members of the board, subject to appropriate tax advice, can comprise members of the family alongside a Jersey professional regulated director. As the family members evolve the structure of the board can evolve with it (if required), keeping your trustee in line with the family wishes.
KEY ADVANTAGES
- Family members can retain involvement; sitting on the board of directors or by holding a key role
- Management lies with the board of directors
- Reduced burden for a change of directors than a change of trustees
- Keeping the trusteeship of a family trust within the family, confidentiality is preserved
- Younger family members can be introduced to family wealth in a controlled, structured manner
- A structure can exist where the trustee has the working knowledge of the assets held
- Ability to respond speedily to commercial decisions needing to be made
- Ideal for larger family structures with several Trusts
