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Private Trust Companies: A Handbook for Advisers, 2nd Edition

Private Trust Companies: A Handbook for Advisers, 2nd Edition

Author: Todd Mayo
Publisher: Globe Law and Business
ISBN: 9781787429611

Previous Edition ISBN: 9781787423145
Published In: July 2023
Format: Hardback , 379 pages
Jurisdiction: Bermuda, Cayman Islands, Guernsey, Hong Kong, International, Jersey, Switzerland, U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

List Price: HKD 2,925.00

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Description
Contents
Author

Details

Private trust companies play an increasingly important role in the wealth structures of many ultra-wealthy families, offering a high degree of control and flexibility in the administration of a family’s trusts and the management of trust assets. Featuring chapters written by leading practitioners from firms including Appleby, McDermott, Will & Emery and Squire Patton Boggs, this edition fully explores the legal, regulatory and practical dimensions of forming and operating a private trust company.

The relevant law in prime jurisdictions including Bermuda, the Cayman Islands, Hong Kong, Jersey and key US states is thoroughly examined. In addition, content shines a light on organisational and operational issues such as designing a private trust company’s ownership structure, implementing proper internal controls, outsourcing services and working with professional advisers. Important matters like coordinating with the family office, communicating with family, protecting privacy and handling disputes involving private trust companies are also tackled.

New chapters in this edition cover:

Guernsey;
Switzerland; and
sanctions

Key topics featured include:

recent regulatory developments in the Cayman Islands;
tax law changes in Hong Kong;
legislative developments in Wyoming and other US states;
recent cases relevant to private trust companies;
discovery disputes involving private trust companies; and
recent developments concerning beneficial ownership disclosure requirements in the United States and Europe.

This handbook is a comprehensive resource for lawyers, accountants, family office executives and others who advise families on private trust companies.

Preface

Introduction - Todd D. Mayo, UBS

Part 1: Design and operation of private trust companies

Considerations when forming a private trust company

Todd Mayo, UBS

Ownership and governance structures

Kathryn von Matthiessen, Katten; Vanessa Schrum, Appleby

Coordinating with the family office

Michelle L Wolfe & Sara Schroter Ross; Meritus Trust Company

Communicating with the family

Babetta von Albertini, ATM Capital Partners

Helping hands: utilizing service providers for effective and efficient PTC operations

Ryan M. Harding, Garden Trust Company; Jon Motto, McDermott Will & Emery

Internal controls

Elise McGee, McDermott Will & Emery

Sanctions

Paolo Panico, Private Trustees SA

Beneficial ownership registers

Paolo Panico, Private Trustees SA

US tax and regulatory considerations

Osvaldo Garcia, Sasha Grinberg, Dorothy Mehta & William Schaf, Cadwalader, Wickersham & Taft

Disputes involving private trust companies

Nicholas Holland & Joseph Viviano, McDermott Will & Emery

Part 2: Overview of non-US jurisdictions

Overview

Todd D. Mayo, UBS

Bermuda

Ashley Fife & Keith Robinson, Carey Olsen

British Virgin Islands

Fraser Allister & Andrew Miller, Bedell Christin

Cayman Islands

Fraser Allister & Andrew Miller, Bedell Christin

Guernsey

Natasha Kapp; Carey Olsen

Hong Kong

Patricia Woo, Squire Patton Boggs

Jersey

Robert Dobbyn & Sevyn Kalsi, Walkers

Switzerland

Part 3: Overview of US jurisdictions

Overview

Todd D Mayo, UBS

Florida

Christopher Boyett, Nichole D. Scott & John Stansbury, Holland & Knight

Nevada

Tom Cota, Jason Nomsen & Matt Tobin, South Dakota Trust Company LLC

New Hampshire

Todd D. Mayo, UBS

South Dakota

Matt Tobin, South Dakota Trust Company LLC; James Paladino, South Dakota Planning Company

Tennessee

Aaron B. Flinn, John M. Bunge, Richard A. Johnson & Jill C. Mastroianni, Waller

Wyoming

Christopher Reimer & Amy Staehr, Long Reimer Winegar Beppler

Consulting editors

Contributing firm	Name
Wealth structuring strategist	Todd D Mayo

Contributors

Contributing firm	Name
Appleby (Bermuda) Limited	Vanessa Schrum
Bedell Christin	Andrew Miller
Bedell Christin	Fraser Allister
Bedell Cristin Jersey Partnership	Sevyn Kalsi
Cadwalader, Wickersham & Taft LLP	Sasha Grinberg
Cadwalader, Wickersham & Taft LLP	William S Schaaf
Carey Olsen (Guernsey) LLP	Joanna Caen
Carey Olsen (Guernsey) LLP	Natasha Kapp
Carey Olsen Bermuda Limited	Ashley Fife
Carey Olsen Bermuda Limited	Keith Robinson
Carey Olsen Jersey LLP	Robert Dobbyn
Fried, Frank, Harris, Shriver & Jacobson LLP	Dorothy Mehta
Garden Trust Company	Ryan M Harding
Holland & Knight	Christopher W Boyett
	John L Stansbury
	Nichole D Scott
Holland & Knight (formerly with Waller Lansden Dortch & Davis)	Aaron B Flinn
	Jill C Mastroianni
	John M Bunge
Institute for Family Governance	Babetta von Albertini
JP Morgan Private Bank	Osvaldo Garcia
Katten Muchin Rosenman LLP	Kathryn von Matthiessen
Long Reimer Winegar LLP	Amy M Staehr
Long Reimer Winegar LLP	Christopher M Reimer
McDermott Will & Emery LLP	Elise J McGee
	Jonathan W Motto
	Joseph J Viviano
	Nicholas Holland
McLane Middleton	Patrick O Collins
McLane Middleton	Steven M Burke
Meritus Trust Company Limited	Michelle L Wolfe
Meritus Trust Company Limited	Sara Schroter
Private Trustees SA Teton Trust Company LLC	Paolo Panico
SDTC Services of Nevada LLC	Jason Nomsen
	Matthew Tobin
	Thomas M Cota
South Dakota Planning Company	James Paladino
Squire Patton Boggs	Patricia Woo