The Trustee Risk Crisis and Its Impact on Finding/Selecting the Best Trustees

Private Trust Companies were created and constantly evolve to meet the needs of wealthy families for trustees not adequately met by the traditional alternatives of institutional and individual trustees.  The foundations for choosing the right trustee for a family are

(i) identifying the role they need their trustee to play, and

(ii) understanding the strengths and weaknesses of each type of trustee for filling that role. 

This session provides those foundations but also will bring all program participants up-to-date on  adverse developments in the trust industry that have hampered the ability of individual and institutional trustees to meet the needs of families and how the PFTC can limit the impact of those developments.

Attendees will learn:

• The unique roles trustees need to play for wealthy, strategic families
• The traditional primary strengths and weaknesses of all three types of trustees in fulfilling those roles
• How the trustee risk crisis has limited the ability of individual and institutional trustees alike to meet families’ needs
• The ability of PFTCs to accept reasonable risks that other trustees cannot or will not accept