Overview
Families generally have several key desires regarding their trust planning that includes some form of governance structure for the family trusts; privacy; control and flexibility regarding trust administration and investment management; family promotion of social and fiscal responsibility inter-generationally; and tax and asset protection benefits. Since the mid-1990s, modern trust structures—such as directed trusts, special purpose entities/trust protector companies (SPEs/TPCs) and private family trust companies (PFTCs)—have allowed families to successfully integrate these key desires into their trust planning. Becoming more familiar with the advantages and operation of these modern structures will allow families at all net worth levels to accomplish their desired goals.