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Bringing order to your ambitions

Our quick guide outlines how Private Trust Companies and Private Trust Foundations are an effective and flexible alternative for large, multi-generational families with complex assets in multiple jurisdictions.

Private Trust Companies

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Issues and vulnerabilities

• Disputes and litigation
  Unclear instructions lead to disagreements which can be costly and damaging.
• Intestacy laws and unintended heirs
  May have unintended consequences such as asset fragmentation and unintended beneficiaries.
• Probate delays and expenses
  Can make assets inaccessible and cause cost and uncertainty for beneficiaries.
• Death duties and liquidity
  Weak succession plans risk incurring inflated taxes potentially forcing asset liquidations.
• Administrative paralysis
  Ineffective mechanisms for transferring authority stall decision making.
• Family business succession
  Unclear succession plans can affect the continuity of family businesses and impact employee livelihoods.

You’re a high net worth individual or family with multiple asset types in multi jurisdictions. But how cohesive is the oversight of these assets? And do you have an overarching succession plan? Without a well thought out and organised plan, you may be susceptible to a number of vulnerabilities and issues.

Individually structured Private Trust Companies and Private Trust Foundations offer multiple solutions to mitigate these issues and bring order to your (family’s) affairs.

Bringing order to your ambitions

They offer several advantages over a third-party trustee:

It may seem appealing to clients to incorporate all the control mechanisms, however this is not advised.

The main appeal of PTC and PTF structures is the ability for clients and their family members, family office representatives and advisors to retain legitimate control at different levels:

Retaining control

VG is highly knowledgeable and proficient in the use of PTC and PTF structures and we actively manage them for numerous international clients and their families.

VG your expert partner

We ensure a client’s PTC or PTF is legally sound and robust, giving careful thought and consideration to a range of factors including:

Family Office CEO

“Prompt and practical support that helped us untangle complex legacy matters and guide us forward with confidence”

If you’d like to explore how PTCs and PTFs could benefit you or your client, or are considering switching providers, we’d be delighted to talk to you. Please contact us.

Contact us

Debbie Lumsden

Director, Private Wealth

+44 1534 712438

dlumsden@vg.je

www.vg.je

Jersey’s Taxation (Companies – Economic Substance) (Jersey) Law 2019 requires Jersey tax resident businesses carrying out certain core income generating activities and earning income from those activities to demonstrate that they have sufficient economic substance in Jersey. If your business is required to meet these requirements of the legislation, we can discuss with you how best to achieve this.

Trust that delivers