Keeping a Private Family Trust Company Compliant

Overview

Without proper management, a private family trust company (PFTC) can be exposed to costly litigation and the potential for significant liability. Theft, inappropriate exercise of fiduciary oversight, and violations of statutory or regulatory requirements are just some of the issues that could lead to a negative audit from a regulator, claims by beneficiaries, or the disillusion of the PFTC altogether. By implementing policies that take into account the expertise and capacity of staff and external vendors, a PFTC can ensure it stays compliant while safeguarding the family’s assets well into the future.

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