Keeping a Private Family Trust Company Compliant

In order to avoid audit and regulatory risks, a private family trust company needs to have a variety of important policies and procedures in place to ensure it complies with best practices and applicable laws.

A private family trust company (PFTC) provides families with intergenerational governance over family assets and a private forum for decision-making. Without proper management, however, a PFTC can be exposed to costly litigation and the potential for significant liability. Theft, inappropriate exercise of fiduciary oversight, and violations of statutory or regulatory requirements are just some of the issues that could lead to a negative audit from a regulator, claims by beneficiaries or the disillusion of the PFTC altogether.

To read more about the myriad risks faced by PFTCs and how to properly recognize and address them, download our PDF, "Keeping a Private Family Trust Company Compliant."