Wealth Transfer Strategies

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Case Study – The Art and Complexity of Distributions
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Distributions have many implications for the PFTC. The responsibilities of the Private Trust Company in preserving the corpus and being true to the role of the trustee must also align with the changing needs of the family. This peer dialogue will center around a case study examining the art and complexity of family distributions:

In the Driver’s Seat and Under the Hood - Creating and Operating a PFTC
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For those considering a PFTC or in the early stages of developing one, this session provides the core information needed to get started, including identifying the right state and right structure for your family, chartering or licensing, and insight on the day to day realities of operating a PFTC.Attendees will learn:

Responsibilities and Risks as the Family’s Trustee
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Poor trust risk management and family disunity remain major if not the major threats to families seeking to remain together from generation to generation. Often embraced hesitantly by families, the most important risk management actions are basic and logical, only requiring families to understand and commit to them. Communication is often the key to both trust risk management and overcoming family disunity.Attendees will learn:

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

Supervision and Examination of PFTCs
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Regulated PFTC’s are licensed and supervised by state banking regulators. In exchange, families are given the only non-federal, permanent corporate/LLC charter allowing them to provide trust services and, without registration with the SEC, act as an investment adviser. The main price they pay is the burden of state regulations and examinations. This session makes transparent the supervisory regime.Attendees will learn:

The Private Family Trust Company—A Strategic Solution for the Family Enterprise
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The PFTC represents an elegant evolution of the family office by solidifying the role of the family in managing all of the family assets (more than just trust assets) and implementing its strategic plan. In this session, expert advisors and a family office executive share how to successfully integrate the PFTC with the family enterprise.Attendees will learn:

Using a PFTC to Optimize Multi-Generational Investment Management
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PFTCs provide significant flexibility with respect to investment management. The governance models afforded under PFTCs allow families to carefully craft the role of investment management, from the what, to the who, to the how. Modern trust laws in select states will allow you to create this flexibility through PFTCs, or for those less inclined, through a directed trustee arrangement.Attendees will learn:

After DOMA: What the Windsor Decision Means for Same-Sex Couples and Family Wealth Planning
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The historic June 2013 Windsor decision clarified the financial and legal status of some legally married same-sex couples, while leaving others in an ambiguous status—legally married for purposes of federal law, but still considered single in many states. For those in a same-sex relationship or for families with children or grandchildren in a same-sex relationship, understanding the decision and its aftermath should ultimately help inform and refine family wealth transfer planning.

Wealth Transfer Planning and the Interplay of Family Dynamics
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It is not uncommon for wealth transfer planning to focus solely on the amount of money to be transferred and potential strategies for minimizing taxes. However, one of the most lasting gifts that a grantor can provide family members is an understanding of their long-term goals for the family and how this is shaped by shared history and values.This article prepares families for a probing audit of their family dynamics.