BarbriSFCourseDetails

Course Details

This CLE webinar will provide estate planners guidance on structuring and utilizing private trust companies (PTC) as an estate planning tool for high net worth families. The panel will discuss the design and operation of PTCs and how they are used as an estate planning mechanism, required documentation and key provisions, advantages and disadvantages of regulated vs. unregulated PTCs, U.S. tax implications and planning, the impact of the Corporate Transparency Act (CTA) and other regulations, and other key considerations.

Faculty

Description

Estate planning with trusts is a critical need for high net worth families to protect assets, minimize taxes, and ensure seamless transfers to beneficiaries, but families with large amounts of wealth often have succession planning, tax planning, liability, and regulatory concerns that are not addressed through traditional trustee options. Utilizing PTCs can provide a mechanism for fulfilling these needs but the use of PTCs requires a complete understanding of complex federal and state laws in order to ensure optimum tax and estate planning benefits.

A PTC is a family-owned trust company that offers fiduciary and trustee services to a single family group with the goal of managing wealth across generations. By establishing a PTC, families can position their estate planning strategies to meet specific succession and governance needs, obtain certain tax benefits, and take advantage of favorable regulatory regimes, trust laws and asset protection offered by certain jurisdictions.

Estate planners must consider various issues when structuring PTCs, such as (1) selecting a jurisdiction for establishing a PTC; (2) optimizing the PTC structure for gift, estate, GST, income, and other taxes; (3) choice of entity; (4) governance structure; (5) regulatory compliance; and (6) the impact of the CTA and other federal regulations.

Listen as our panel discusses the design and operation of PTCs and how they are used as an estate planning mechanism, required documentation and key provisions, advantages and disadvantages of regulated vs. unregulated PTCs, U.S. tax implications and planning, and the impact of the CTA and IRA.

Outline

  1. Design and operation of private trust companies
  2. PTC structure, ownership and governance
  3. U.S. tax and regulatory considerations
  4. Navigating disputes involving private trust companies

Benefits

The panel will discuss these and other key issues:

  • Key factors that must be considered when structuring a PTC
  • Selecting the right jurisdiction to set up a PTC
  • Mechanisms to reduce tax liability and risk
  • Navigating disputes with family members and beneficiaries
  • Impact of the CTA
  • Structuring transfers and utilizing trusts under a PTC model