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Private Trust Companies: A Handbook for Advisers

Private Trust Companies: A Handbook for Advisers

Author: Todd Mayo
Publisher: Globe Law and Business
ISBN: 9781787423145
Published In: September 2020
Format: Hardback , 357 pages
Jurisdiction: Bermuda, British Virgin Islands, Cayman Islands, Hong Kong, International, Jersey, U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

New Edition is available now !

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Contents
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Ultra-wealthy families have incorporated private trust companies into their wealth structures with increasing frequency over recent decades. Private trust companies can offer greater control over the administration of the family’s trusts and can provide greater flexibility in the management of the trust’s assets. For many families, a private trust company is a natural complement to the family office, enabling it to include fiduciary services among the services that it provides to its members. Reflecting the rising popularity of private trust companies, more jurisdictions have enacted legislation allowing them.

This handbook is a comprehensive resource for lawyers, accountants, family office executives and any others who advise ultra-wealthy families on private trust companies. Featuring chapters written by leading practitioners, it fully explores the legal, regulatory and practical dimensions of forming and operating a private trust company.

A series of chapters examines the relevant law in prime jurisdictions including Bermuda, the Cayman Islands, Hong Kong, Jersey and key US states. Other chapters focus 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 covered.

Contributors include practitioners from Appleby, Bedell Cristin, Carey Olsen, Cadwalader, Wickersham & Taft, Holland & Knight, McDermott Will & Emery, Meritus Trust Company, South Dakota Trust Company, Squire Patton Boggs, and Walkers.

Introduction by Todd D. Mayo of Perspecta Trust

Part 1: Design and Operation of Private Trust Companies

Ownership and Governance Structures by Miles C Padgett of Kozusko Harris Duncan and Vanessa Schrum of Appleby

Coordinating with the Family Office by Sara Schroter Ross and Michelle L. Wolfe of Meritus Trust Company

Communicating with the Family by Babetta von Albertini of ATM Capital Partners

Working with third-party service providers (coordinating with advisers, outsourcing fiduciary and administrative functions etc.)

Managing Trust Investments (including Family Businesses) by Von E. Sanborn of Day Pitney

Internal Controls (Policies, procedures etc.)

Privacy and Confidentiality by Paolo Panico of Private Trustees SA

Interjurisdictional Activities

US Tax and Regulatory Considerations by Sasha Grinberg of Cadwalader, Wickersham & Taft

Disputes involving Private Trust Companies by Nicholas Holland of McDermott Will & Emery

Part 2: Overview of non-US jurisdictions

Overview by Todd D. Mayo of Perspecta Trust

Bermuda by Ashley Fife and Keith Robinson of Carey Olsen

British Virgin Islands by Andrew Miller of Bedell Christin

Cayman Islands by Andrew Miller of Bedell Christin

Guernsey by Angela Calnan and Ben Havard of Collas Crill Advocates and Ajay Wiltshire of Saffrey Champness

Hong Kong

Isle of Man

Jersey by Robert Dobbyn and Sevyn Kalsi of Walkers

Malta by Anthony Cremona of Ganado Advocates

Singapore

Part 3: Overview of US jurisdictions

Overview by Todd D Mayo of Perspecta Tust

Florida by Christopher Boyett of Holland & Knight

Nevada by Gregory E Crawford of Alliance Trust Company of Nevada and Lance McKenzie Esq of McDonald Carano

New Hampshire by Todd D. Mayo of Perspecta Trust

South Dakota by James Paladino of South Dakota Planning Company and Matt Tobin of South Dakota Trust Company LLC

Tenessee

Wyoming by Christopher Reimer and Amy Staehr of Long Reimer Winegar Beppler

Consulting editor(s): Todd Mayo

Contributing firm	Name
UBS	Todd D Mayo

Contributors

Contributing firm	Name
Alliance Trust Company of Nevada	Gregory E Crawford
Appleby (Bermuda) Limited	Vanessa L Schrum
Bedell Cristin	Andrew Miller
Cadwalader, Wickersham & Taft	Dorothy Mehta
	Osvaldo Garcia
	Sasha Grinberg
Carey Olsen	Ashley Fife
Carey Olsen	Keith Robinson
Holland & Knight	Christopher W Boyett
	John L Stansbury
	Nichole D Scott
Institute for Family Governance	Babetta von Albertini
Kozusko Harris Vetter Wareh Duncan LLP	Miles C Padgett
Long Reimer Winegar LLP	Amy Staehr
Long Reimer Winegar LLP	Christopher Reimer
McDermott Will & Emery LLP	Elise J McGee
	Jonathan W Motto
	Joseph J Viviano
	Nicholas Holland
McDonald Carano	Lance N McKenzie
McDonald Carano	Robert E Armstrong
Meritus Trust Company Limited	Michelle L Wolfe
Meritus Trust Company Limited	Sara Schroter
Paolo Panico’s Law Chambers Private Trustees SA	Paolo Panico
President of a Nevada family trust company	Ryan M Harding
South Dakota Planning Company	James Paladino
South Dakota Trust Company LLC SDTC Services LLC	Matthew Tobin
Squire Patton Boggs	Patricia Woo
Walkers (Jersey) LLP	Robert Dobbyn
Walkers (Jersey) LLP	Sevyn Kalsi
Waller Lansden Dortch & Davis LLP	Aaron B Flinn
	Jill C Mastroianni
	John M Bunge
	Richard A Johnson