A Private Trust Company ("PTC") is a company formed by a settlor which acts as trustee for his trust. A well-functioning PTC can serve as the central power-house for the family management, accumulation and distribution of wealth across generations - functioning as the Family Office.
The PTC implements the wishes of the patriarch/matriarch/settlor/founder ("settlor") in terms of philanthropy, wealth preservation and lifestyle and may hold different classes of asset in different underlying companies.
The PTC may (but need not) involve the settlor and beneficiaries in the decision-making process, either through membership on the board of directors or in the investment committee, or be limited to regular reporting.
By holding family meetings, offering training and assignments, and providing social functions in a leisurely atmosphere, the PTC can serve as the training ground for the next generation. The PTC offers a flexible and responsive vehicle whose board of directors can handle either personally or through engaged specialists a range of activities (family philanthropy, real estate and general investment, entrepreneurial activities, venture capital operations and other commercial projects) through underlying asset holding companies and other special purpose vehicles ("SPV's").
Portcullis TrustNet can help you establish your PTC and provide assistance with trust administration and other services needed to create an effective Family Office.
