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 Beneficiaries Relations Committee (BRC) is the “it” name for the committee person or persons determining trust distributions to the beneficiaries.
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.
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.