Tuesday, January 28, 2025

Welcome to the Workshop
As the family enterprise evolves over time, eventually, many families will consider the question of whether to form a Private Trust Company (PTC). The PTC can be quite useful to many families, providing unique benefits and capabilities, but also comes with its own special concerns requiring careful consideration.

Please join us for an introduction and overview of FOX’s Private Trust Company Workshop, where we will review the agenda, introduce the speakers, and set the stage for the event.

Chris Herbert, Senior Relationship Manager, FOX

CPE is not offered for this session.

The Evolution of the US Situs PTC    
Families of wealth are increasingly evaluating whether a Private Trust Company (PTC) is a solution for their multi-generational fiduciary needs. This session will introduce common PTC structures, uses, benefits, and planning considerations to aid families and their professional advisors as they evaluate whether a PTC is right for their family.

Scott D. Weaver, General Counsel & Chief Fiduciary Officer, Willow Street

1.0 CPE | Specialized Knowledge

Structuring and Governing the PTC: Owners and Boards
Once a family has decided to develop a PTC and establish its role, it needs to consider how to structure and manage the entity. We will discuss how to identify a proper ownership structure, how to design the board composition and select officer positions, and how to construct and implement committees. 

Matthew J. Scheer, Board Certified Tax Attorney, Gunster

1.0 CPE | Specialized Knowledge

Understanding Trustee Liability within the PTC Framework 
This presentation highlights how Private Trust Company structures are built to serve the unique needs of each family. Different PTC structures carry varying levels of risk and by understanding the risk profiles of different structures, families can make informed decisions that align with their goals and values. We’ll discuss how the evolution of PTC structures reflects the balance between opportunity and protection, empowering families to navigate their journey with confidence.

Judith Pearson, President, Nomadx

1.0 CPE | Specialized Knowledge

Open Discussion Breakouts
Participants will join small breakout groups to discuss what they learned from the day, share their thoughts, ask questions, and network.

Wednesday, January 29, 2025

Governance to Minimize Fiduciary Liabilities of PTCs and their Directors
While a Private Trust Company is a fiduciary and thus subject to several fiduciary duties, Directors of a Private Trust Company also have fiduciary duties to the Private Trust Company itself. This presentation will provide a brief overview of the fiduciary duties of a Private Trust Company, in general, as well as those of individual Directors. We will examine how good governance policies and procedures can minimize both of these areas of fiduciary liability.

John Bunge, Partner, Holland & Knight LLP

1.0 CPE | Specialized Knowledge

Good Governance Practices 
Good governance requires more than a set of documents and structures. It requires intentional and deliberate practices to ensure that the PTC operates effectively on behalf of all stakeholders. A panel of PTC executives and directors will discuss lessons learned and best practices implemented in overseeing and managing their trust companies.

Attendees will learn:

• Best practices in balancing the interests of all stakeholders in the PTC
• Considerations and cautions in management and oversight
• Lessons learned from years of practice and implementation

Ben Francois, Partner, BanyanGlobal Family Business Advisors
Susie Roh, President, Wind River Trust Company
Gillian Nagler, Vice President - Trust Services, Briar Hall LLC
Moderated by Scott Peppet, President, Chai Trust Company, LLC 

1.0 CPE | Specialized Knowledge

Planning for Private Trust Company: Do I need one? If so, what is appropriate governance?
In this informative session, we will explore the essential considerations for establishing a Private Trust Company as part of your estate and wealth management strategy. Participants will gain insight into the benefits and potential challenges of utilizing a PTC, such as greater control over trust administration, privacy, and enhanced succession planning. This session will provide guidance for fiduciaries, family offices, wealth advisors, and estate planners on how to evaluate whether a Private Trust Company is the right solution and how to structure its governance to ensure long-term success.

Domingo P. Such III, Firmwide Chair, Family Office Services Practice, Perkins Coie
Jeffrey Lauterbach, CEO, Lauterbach & Co

1.0 CPE | Specialized Knowledge

Leading Practices: Operations and Administration
At a minimum, a PTC must adhere to applicable state laws and its operating documents. But truly effective PTCs plan proactively and strategically to integrate compliance, operations, and administration to optimize outcomes for families. We will cover basic administrative procedures necessary to meet minimum standards and what to watch to mitigate risk and maximize opportunity. 

Aaron Hegji, Chief Fiduciary Officer and Wealth Strategist, Wealthgate Trust

1.0 CPE | Specialized Knowledge

Open Discussion Breakouts
Participants will join small breakout groups to discuss what they learned from the day, share their thoughts, ask questions, and network.

Thursday, January 30, 2025

What you need to know about the Corporate Transparency Act
How does the Corporate Transparency Act affect a Private Family Trust Company? This presentation will review the basic framework of CTA, exempt entities, reporting companies, and who needs to file a report. The presentation will also explore a trustee’s responsibility related to compliance with CTA, and what this means for a trust company’s governing board.  

Matt Tobin, COO, Managing Director, Legal Counsel, South Dakota Trust Company LLC

1.0 CPE | Specialized Knowledge

The Future of the Private Trust Company
PTCs have been evolving over time, as the industry and states react to protect trusts and beneficiaries, serve constituents, and compete for trust business. A panel of experts will discuss what they are watching and what’s next for PTCs. We will review factors currently impacting the PTC industry, and current focus areas for state legislatures and regulatory agencies. 

Greg Gonzales, Commissioner, Tennessee Department of Financial Institutions
Jeremiah Bishop, Banking Commissioner, Wyoming Division of Banking
Bret Afdahl, Director, South Dakota Division of Banking
Moderated by Elise J. McGee, Partner, McDermott Will & Emery

1.0 CPE | Specialized Knowledge

Lessons and Wisdom from Experience
The PTC can be an effective and powerful tool in long-term family wealth preservation and governance. The challenge is in operating the PTC to maximize its potential. A panel of experienced PTC directors and executives will discuss their perspectives and lessons learned.

Attendees will learn:

• Effective and efficient operational guidelines
• Leveraging the PTC as part of a long-term strategic plan
• Integrating the PTC into the family enterprise

Diane O. Malarik, President, Moreland Management Co and VP, Laurel Fiduciary Corporation 
Richard A. Naski II, Head of the Family Office, The Duchossois Group, Inc.
Moderated by Jennifer Remondino, Partner, Warner, Norcross + Judd 

1.0 CPE | Specialized Knowledge

Trust Officeholders—Dividing Up the Different Trust Functions
Modern trust law provides a myriad of different ways to divide up the trust decision making function – including directed trustees, trust advisors, special trustees, trust protectors, and designated representatives. This session will review these different potential officeholders and how a private trust company fits with these concepts. 

Jason J. Kohout, Partner, Foley & Lardner LLP

1.0 CPE | Specialized Knowledge

Open Discussion Breakouts
Participants will join small breakout groups to discuss what they learned from the day, share their thoughts, ask questions, and network.