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Until recently, many families filled key governance roles associated with their trust and estate planning with trusted friends, colleagues, or advisors who were flattered to be asked and honored to
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
The legal qualifications for a trustee are simple: he/she must be over the age of 18 and legally competent to manage his/her own affairs. The practical qualifications, however, are much more
The role of the trustees has evolved rapidly, and there has been a transition in the investment standards guiding trustees from being a “prudent man” using legal lists to being a “
The Beneficiaries Relations Committee (BRC) is the “it” name for the committee person or persons determining trust distributions to the beneficiaries. The BRC, however, is not just making trust
You’ve built a valuable and successful business through hard work, long hours and countless decisions. You want to plan for transitioning the company, and the wealth you’ve created to
Many powerful trends are taking place in 2017. While much is still unknown in regard to what actions the new Trump administration and GOP-led congress will take towards the estate tax, planners have
Trusts have grown enormously in popularity since the mid-1990s as a result of the development of modern trust laws, the dramatic increase in wealth and evolving family needs and goals. Modern trust
The use of trusts for long-term planning can provide many benefits; however, setting up a trust at one point in time to cover all potential future circumstances without flexibility is not advisable.
The raison d’être for families to form a Private Family Trust Company (PFTC) is to maximize their lawful control over their wealth held in trust. A cynic might suggest families want that