Private Family Trust Company Consulting

A Private Family Trust Company (“PFTC”) is a privately owned and controlled entity that provides trust administration and fiduciary services to a multi-generational, single-family group. While different states have different names for them (Ohio calls them family trust companies), they serve the same basic purpose everywhere: acting as fiduciary to oversee assets held in trust for the exclusive benefit of a single-family lineage. A PFTC offers a unique opportunity to further estate and wealth transfer planning and address family governance needs, ensuring successful transitions for future generations.

A PFTC can be an excellent solution for:

  • Families doing multi-generational trust planning
  • Families searching for a permanent trustee solution
  • Families wanting to maintain control over family business assets and wealth held in trusts
  • Families interested in keeping the family cohesive & working together across generations
  • Families looking to bring the complexities of Grantor, Trustee, and Beneficiary relationships together

When considering the traditional trustee solutions, a PFTC can bring together the benefits of a corporate trustee and an individual trustee:

Traditional Corporate Trustee

Regulated

Professional

Rigid Policies

Conservative

Changing Personnel

Expensive

Accountable

Impersonal

Individual Trustee

Sensitive & knowledgeable about family

Flexible/Subjective – saying “no” is difficult

Private

Not Expensive

Not Permanent

Individual Fiduciary Liability

Family Dynamics

Family Trust Company

Confidential

Permanent Trustee Solution

Institutionalize the personal, business & investment matters for a family

Personalized Service

Liability Protection

Flexibility in Managing Concentrated Positions

Infused with Family Values

CLS Legacy Team takes care of everything from educating your family to assessing your needs to designing and implementing the perfect PFTC structure for your unique family dynamics. Following implementation, the CLS Legacy Team shoulders the burden of day-to-day operations, completing compliance paperwork, preparing for meetings, and staying up to date on best practices, allowing families to spend more time doing what matters most. The path to establishing and operating a PFTC presents a myriad of questions, all of which deserve careful consideration. A PFTC offers a secure plan to ensure safe and accountable management of family assets, harmonizing your family now and aligning them for the future.