A private trust company's primary purpose is to act as trustee to a trust or group of trusts. They allow the family to retain a key role in the decision making process and permit family members and advisors to take an active role in the management of trust affairs.
PTCs can be used to hold charitable trusts, private wealth as well as business or commercial assets and the board can be a mix of family members, trusted advisers, investment and business experts. A PTC can be a framework to include the next generation and educate them in the family business and family wealth.
A PTC provides confidentiality throughout the decision making process, allowing for peace of mind in the preservation of family assets.
The ILS private client team has a considerable amount of expertise in this area.