Private Trust Companies (eBook)

A Handbook for Advisers

eBook Download: PDF

2020
357 Seiten
Globe Law and Business Ltd (Verlag)
978-1-78742-316-9 (ISBN)

Infos

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, working with professional advisers, managing trust investments and managing inter-jurisdictional activities. 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 Christin, Carey Olsen, Cadwalader, Day Pitney, Holland & Knight, McDermott Will & Emery, Meritus Trust Company, Saffery Champness, South Dakota Trust Company, Squire Patton Boggs, Walkers, Wickersham & Taft and Withers.

Inhalt

Introduction 5
Todd D Mayo
UBS

Part I. Design and operation of private trust companies

Considerations when forming a private trust company 9
Todd D Mayo
UBS

Ownership and governance structures 31
Miles C Padgett
Kozusko Harris Vetter Wareh
Duncan LLP
Vanessa L Schrum
Appleby (Bermuda) Limited

Coordinating with the family office 43
Sara Schroter
Michelle L Wolfe
Meritus Trust Company Limited

Facilitating essential communication with family members 63
Babetta von Albertini
Institute for Family Governance

Helping hands: utilising service providers 85
Ryan M Harding
President of a Nevada family trust company
Jonathan W Motto
McDermott Will & Emery LLP

Internal controls 101
Elise J McGee
McDermott Will & Emery LLP

Beneficial ownership registers 115
Paolo Panico
Paolo Panico’s Law Chambers Private Trustees SA

US tax and regulatory considerations 143
Osvaldo Garcia
Sasha Grinberg
Dorothy Mehta
Cadwalader, Wickersham & Taft LLP

Disputes involving private trust companies 165
Nicholas Holland
Joseph J Viviano
McDermott Will & Emery LLP

Part II. Non-US jurisdictions

Bermuda 181
Ashley Fife
Keith Robinson
Carey Olsen

British Virgin Islands 191
Andrew Miller
Bedell Cristin

Cayman Islands 201
Andrew Miller
Bedell Cristin

Hong Kong 211
Patricia Woo
Squire Patton Boggs

Jersey 221
Robert Dobbyn
Sevyn Kalsi
Walkers (Jersey) LLP

Part III. US jurisdictions

Florida 233
Christopher W Boyett
Nichole D Scott
John L Stansbury
Holland & Knight

Nevada 243
Gregory E Crawford
Alliance Trust Company of Nevada
Robert E Armstrong
Lance N McKenzie
McDonald Carano

New Hampshire 261
Todd D Mayo
UBS

South Dakota 305
James Paladino
South Dakota Planning Company
Matthew Tobin
South Dakota Trust Company LLC SDTC Services LLC

Tennessee 323
John M Bunge
Aaron B Flinn
Richard A Johnson
Jill C Mastroianni
Waller Lansden Dortch & Davis LLP

Wyoming 335
Christopher Reimer
Amy Staehr
Long Reimer Winegar LLP

About the authors 345

About Globe Law and Business 357

Produkt-Details

• Erscheint lt. Verlag: 12.8.2020
• Mitarbeit: Berater: Todd Mayo
• Verlagsort: London
• Sprache: englisch
• Themenwelt: Recht / Steuern ► EU / Internationales Recht
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht ► Gesellschaftsrecht
• Schlagworte: Private trust companies, Family office
• ISBN-10: 1-78742-316-6 / 1787423166
• ISBN-13: 978-1-78742-316-9 / 9781787423169