What is a Private Trust Company ?
A Private Trust Company is a family-owned enterprise that provides trust services similar to those provided by an individual or an institutional trustee. Generally, a Private Trust Company is formed as a corporation or limited liability company; as such, it is legally qualified to act as trustee of a single trust or group of related trusts.
Wealthy families often want their trust assets managed in a way that offers them flexibility, control, protection, and privacy—a Private Trust Company allows for just such guided management. The Board of Directors of a Private Trust Company is made up of whomever the settler chooses; the settler, family members, and trusted advisers commonly fill these positions. As a result, those most familiar with the family business make trust distribution and investment decisions. Furthermore, a change of direction for the management of the trust can easily be achieved by changing the members of the Board.
Frontier Administrative Services LLC does not provide legal advice with respect to any matter