Private Trust Companies

A Handbook for Advisers, Second Edition

Buch | Hardcover

379 Seiten

2023 | 2nd New edition
Globe Law and Business Ltd (Verlag)
978-1-78742-961-1 (ISBN)

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This title's 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.

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.

This second edition features:

a new chapter covering Guernsey;
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
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.

Introduction 7
Todd D Mayo
Wealth structuring strategist

Part I. Design and operation of private trust companies

Considerations when forming a private trust company 11
Todd D Mayo
Wealth structuring strategist

Ownership and governance structures 33
Vanessa Schrum
Appleby (Bermuda) Limited
Kathryn von Matthiessen
Katten Muchin Rosenman LLP

Coordinating with the family office 45
Sara Schroter
Michelle L Wolfe
Meritus Trust Company Limited

Facilitating essential communication with family members 67
Babetta von Albertini
Institute for Family Governance

Helping hands: utilising service providers 89
Ryan M Harding
Garden Trust Company
Jonathan W Motto
McDermott Will & Emery LLP

Internal controls 109
Elise J McGee
McDermott Will & Emery LLP

Beneficial ownership registers: the balance between transparency and privacy 123
Paolo Panico
Private Trustees SA Teton Trust Company LLC

US tax and regulatory considerations 143
Osvaldo Garcia
JP Morgan Private Bank
Sasha Grinberg
Cadwalader, Wickersham & Taft LLP
Dorothy Mehta
Fried, Frank, Harris, Shriver & Jacobson LLP
William S Schaaf
Cadwalader, Wickersham & Taft LLP

Disputes involving private trust companies 171
Nicholas Holland
Joseph J Viviano
McDermott Will & Emery LLP

Part II. Non-US jurisdictions

Bermuda 191
Ashley Fife
Keith Robinson
Carey Olsen Bermuda Limited

British Virgin Islands 201
Fraser Allister
Andrew Miller
Bedell Cristin

Cayman Islands 211
Fraser Allister
Andrew Miller
Bedell Cristin

Guernsey 221
Joanna Caen
Natasha Kapp
Carey Olsen (Guernsey) LLP

Hong Kong 231
Patricia Woo
Squire Patton Boggs

Jersey 241
Robert Dobbyn
Carey Olsen Jersey LLP
Sevyn Kalsi
Bedell Cristin Jersey Partnership

Part III. US jurisdictions

Florida 255
Christopher W Boyett
Nichole D Scott
John L Stansbury
Holland & Knight

Nevada 267
Thomas M Cota
Jason Nomsen
Matthew Tobin
SDTC Services of Nevada LLC

New Hampshire 281
Steven M Burke
Patrick O Collins
McLane Middleton
Todd D Mayo
Wealth structuring strategist

South Dakota 325
James Paladino
South Dakota Planning Company
Matthew Tobin
South Dakota Trust Company LLC

Tennessee 343
John M Bunge
Aaron B Flinn
Jill C Mastroianni
Holland & Knight (formerly with Waller Lansden Dortch & Davis)

Wyoming 355
Christopher M Reimer
Amy M Staehr
Long Reimer Winegar LLP

About the authors 365

About Globe Law and Business 379

Erscheinungsdatum	21.07.2023
Mitarbeit	Berater: Todd Mayo
Verlagsort	London
Sprache	englisch
Maße	160 x 240 mm
Themenwelt	Recht / Steuern ► EU / Internationales Recht
Themenwelt	Recht / Steuern ► Wirtschaftsrecht ► Gesellschaftsrecht
ISBN-10	1-78742-961-X / 178742961X
ISBN-13	978-1-78742-961-1 / 9781787429611
Zustand	Neuware