Private trust company services

A private trust company is a special purpose vehicle established specifically to act as corporate trustee of a trust or trusts for a specific family.  The board of directors controls the private trust company and hence its functions as family trustee.

The Paicolex Group can provide families with their own private trust company established and administered by Paicolex.  Family advisers and family members can join Paicolex as directors of the private trust company.  The private trust company can be constituted with a consultative committee, drawn from key advisers and family members, to assist the directors in their deliberations.

Private trust companies are particularly attractive where families wish to retain influence over the management of assets under trust, such as family company shares and where there is a need to integrate the next generation into family wealth management.

Professional advice must be taken to ensure that the structuring and operation of the private trust company do not undermine the effectiveness of asset divestment and tax planning particularly with respect to the settlor of the underlying family trust.

Ownership of the share capital of the private trust company is commonly held within a specially established Purpose Trust of which Paicolex can act as trustee.  The Purpose Trust allows ownership of the private trust company to be separated from the family while allowing the family and their key advisers actively to participate in the management of the private trust company and hence the assets over which it presides as trustee.

Paicolex can work with professional advisers to establish a private trust company in the most appropriate jurisdiction and to ensure that its ownership and its functions as a trustee are properly administered and managed.