2024 FOX Private Trust Company Workshop

The Private Trust Company (PTC) has endured the test of time as a robust structure for achieving the multi-generational goals of wealth preservation, stewardship, and upholding flourishing families. This program is essential for families currently forming or considering a PTC and insightful to family members and qualified trustees hoping to better understand their PTC structure. This workshop brings together leading experts and PTC executives to share their experience and insight about the PTC’s special role in the family enterprise.

Attendees can choose a program curated to their current situation: 

  • Day one concentrates on fundamental questions for families and their advisory team exploring or currently forming a PTC.  
  • Day two involves more qualitative questions and best practices and is appropriate for anyone with an interest in PTCs at any level of experience.
  • Day three reviews more advanced topics for those who have experience and are looking to take an established PTC to the next level.

    Who should attend:

    • Days one and two are appropriate for families and their advisory team exploring or currently forming a PTC.
    • Days two and three are appropriate for those with established PTCs who are interested in taking their trust company to the next level.
    • Those interested in a refresher and in exploring more complex topics will want to attend all three days.

    Attendee Quotes

    “If you are thinking about setting up a Private Trust Company, I highly recommend that you attend this workshop first to make sure you understand what you are committing to.”

    “The content, quality of speakers, and quality of peers is excellent."

    Download Brochure

    • About
    • Agenda
    • FAQs

    Attendees will learn the following:

    • Why families form a PTC
    • The role of the PTC in supporting the family enterprise
    • What differentiates the PTC structure from other trust and regulated structures
    • Considerations regarding charter states and whether or not to be registered
    • Options and best practices related to structure, ownership, governance and operations
    • Opportunities to create healthy trustee and beneficiary relationships
    • How to identify and mitigate tax and regulatory risks in operation of the PTC
    • Cutting edge techniques and future trends for the PTC
    • Lessons learned from seasoned PTC executives and experts

    Pricing

      FOX Members   Non-Members
      Days 1 & 2
    Jan. 23-24
    Fundamentals    		 Days 2 & 3
    Jan. 24-25
    Experienced

    All 3 Days
    Jan 23-25
    Comprehensive

    		   Days 1 & 2
    Jan. 23-24
    Fundamentals    		 Days 2 & 3
    Jan. 24-25
    Experienced    		 All 3 Days
    Jan 23-25
    Comprehensive
    Individual Attendees $2,000 $2,000 $2,750   $2,500 $2,500 $3,450
    *Multiple Attendees $1,800 $1,800 $2,475   $2,250 $2,250 $3,105
    *From the same family/firm

     

    Session Replay Access: Workshop session replays will be available to attendees in the FOX event portal for 90 days.

    REGISTRATION: The Private Trust Company Workshop is open to family members, PTC board members, and family office and PTC executives. FOX also allows qualified prospective members who are developing, operating, or considering a PTC. For the privacy of our families and family offices, advisors are not invited to register, unless as a guest accompanying a family or family office. To have an advisor join your family or family office at the workshop, please email us at events@familyoffice.com. All registrations subject to approval by FOX.

    REFUND POLICY: To ensure the most flexibility for our members and guests, refunds of registration fees will be granted up to the event start date, so long as we are notified in writing at events@familyoffice.com. For more information regarding administrative policies please contact FOX office at: 312.327.1200.

    Field of Study: Specialized Knowledge - Up to 11 CPE credits can be earned by attending this event. CPE credits are accepted at the option of state certifying boards. Requirements, compliance procedures and acceptance may vary by state.

    Program Level: Overview | No prerequisites are required for any of the sessions. | Delivery Method: Group Internet Based

    Learning Objectives: Upon completion of this program, participants will be able to make informed decisions about developing a private trust company for a family enterprise. Program objectives include: Learn how to satisfy trustee requirements, how to choose the proper charter state for a PTC, how to govern the PTC with boards and directors, how to develop the PTC into an operating trust company and how to understand the approval, supervision and examination of PTCs. 


    Family Office Exchange is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

     

    Tuesday, January 23, 2024
    All times listed are in US Central Time
       
    10:00 am Welcome to the Workshop
       
    10:10 am

    Introduction to the Private Trust Company
    As the family enterprise evolves over time, eventually, many families will consider the question of whether to form a private trust company (PTC). The PTC can be quite useful to many families, providing unique benefits and capabilities, but also comes with its own special concerns requiring careful consideration.

    Attendees will learn:

    • What a private trust company is and who might benefit from creating one 
    • The various purposes, advantages, and roles that a PTC can add to support the enterprise
    • Major considerations to keep in mind throughout the exploration and planning process

    Gaby Griffin, Managing Director, Council Memberships, FOX
    Chris Herbert, Senior Relationship Manager, FOX

    CPE is not offered for this session.
       
    10:40 am

    The Evolution of the US Situs PTC    
    Families of wealth are increasingly evaluating whether a Private Trust Company (PTC) is a solution for their multi-generational fiduciary needs. This session will introduce common PTC structures, uses, benefits, and planning considerations to aid families and their professional advisors as they evaluate whether a PTC is right for their family.

    Scott D. Weaver, General Counsel & Chief Fiduciary Officer, Willow Street

    1.0 CPE | Specialized Knowledge
       
    11:30 am Break
       
    11:40 am

    Structuring and Governing the PTC: Owners and Boards

    Once a family has decided to develop a PTC and establish its role, it needs to consider how to structure and manage the entity. We will discuss how to identify a proper ownership structure, how to design the board composition and select officer positions, and how to construct and implement committees. 

    1.0 CPE | Specialized Knowledge
       
    12:30 pm Lunch Break
       
    1:30 pm

    Approval, Supervision, and Examination of PTCs
    Working on the PTC with state regulators needn’t be worrisome, but it’s wise to know what to expect during the entire process, from initial approval through supervision and examination. Attendees will learn the process of charter application approval, how to prepare for an examination and what the process looks like, and post-examination responsibilities. 

    Matt Tobin, COO, Managing Director, Legal Counsel, South Dakota Trust Company LLC

    1.0 CPE | Specialized Knowledge
       
    2:30 pm

    "Ask the Experts" Breakouts
    Participants will join small breakout groups to discuss what they learned from the day, share their thoughts, and ask our industry experts questions. 
       
    3:00 pm Day 1 Adjourns
       

    Wednesday, January 24, 2024
       
    10:00 am Opening Remarks and Recap of Day 1
       
    10:10 am

    Governance to Minimize Fiduciary Liabilities of PTCs and their Directors
    While a Private Trust Company is a fiduciary and thus subject to several fiduciary duties, Directors of a Private Trust Company also have fiduciary duties to the Private Trust Company itself. This presentation will provide a brief overview of the fiduciary duties of a Private Trust Company, in general, as well as those of individual Directors. We will examine how good governance policies and procedures can minimize both of these areas of fiduciary liability.

    Aaron Flinn, Partner, Holland & Knight LLP

    1.0 CPE | Specialized Knowledge
       
    11:00 am

    Situs and New Legislation
    Join our panel of industry experts and a member of a PTC to discuss situs and new legislation’s tax developments affecting business and individual taxpayers. We will analyze how these new developments will affect your PTC and your clients.  

    Miles Padgett, Partner, Kozusko Harris Vetter Wareh Duncan LLP
    Jennifer L. Remondino, Executive Partner, Warner Norcross & Judd

    1.0 CPE | Specialized Knowledge
       
    11:50 am Lunch Break
       
    12:50 pm

    Late breaking session with Domingo P. Such III, Firmwide Chair, Family Office Services Practice, Perkins Coie.

    1.0 CPE | Specialized Knowledge
       
    1:50 pm

    Leading Practices:  Operations and Administration
    At a minimum, a PTC must adhere to applicable state laws and its operating documents. But truly effective PTCs plan proactively and strategically to integrate compliance, operations, and administration to optimize outcomes for families. We will cover basic administrative procedures necessary to meet minimum standards and what to watch to mitigate risk and maximize opportunity. 

    Scott D. Weaver, General Counsel & Chief Fiduciary Officer, Willow Street

    1.0 CPE | Specialized Knowledge
       
    2:40 pm "Ask the Experts" Breakouts
    Participants will join small breakout groups to discuss what they learned from the day, share their thoughts, and ask our industry experts questions.
       
    3:10 pm Day 2 Adjourns
       

    Thursday, January 25, 2024
       
    10:00 am Opening Remarks and Recap of Day 2
       
    10:10 am

    What you need to know about the Corporate Transparency Act
    How does the Corporate Transparency Act affect a Private Family Trust Company? This presentation will review the basic framework of CTA, exempt entities, reporting companies, and who needs to file a report. The presentation will also explore a trustee’s responsibility related to compliance with CTA, and what this means for a trust company’s governing board.  

    Matt Tobin, COO, Managing Director, Legal Counsel, South Dakota Trust Company LLC

    1.0 CPE | Specialized Knowledge
       
    11:00 am

    The Future of the Private Trust Company
    PTCs have been evolving over time, as the industry and states react to protect trusts and beneficiaries, serve constituents, and compete for trust business. A panel of experts will discuss what they are watching and what’s next for PTCs. We will review factors currently impacting the PTC industry, and current focus areas for state legislatures and regulatory agencies. 

    1.0 CPE | Specialized Knowledge
       
    11:50 am Lunch Break
       
    12:50 pm

    PTCs at the Intersection of Business and Charity
    Join us for a unique discussion of the recent use of charities and purpose-driven trusts in the succession for highly successful, closely held businesses, such as Patagonia, Newman’s-Own-type entities, and non-charitable employee and business purpose trusts. We will address challenges presented in like structures, such as anticipating major changes affecting the business, the do-good mission of the charity or purpose-driven trust, navigating fiduciary duties concerning concentrations, and dealing with excess assets. PTCs and their governing structures will be highlighted as lending themselves to address those challenges. 

    Miles Padgett, Partner, Kozusko Harris Vetter Wareh Duncan LLP

    1.0 CPE | Specialized Knowledge
       
    1:50 pm

    Navigating PTC Compliance ‘Requirements’
    Many private trust companies question compliance boundaries: what’s necessary and how to implement and execute efficiently. In this discussion we address both the regulatory and legal requirements and “nice-to-haves”.

    Albert Forkner, Chief Risk and Compliance Officer, Two Ocean Trust
    Elise McGee, Partner, McDermott Will & Emery LLP  

    1.0 CPE | Specialized Knowledge
       
    2:40 pm “Ask the Experts” Breakouts
    Participants will join small breakout groups to discuss what they learned from the day, share their thoughts, and ask our industry experts questions. 
       
    3:10 pm Day 3 Adjourns

     

    		  

     

    Frequently Asked Questions

    Where is the Program and how do I access it?

    The program is taking place virtually and can be accessed via our virtual portal. Information on accessing the portal will be emailed to you directly. For access assistance please email events@familyoffice.com. You must be registered to access the event.

    How do I log in?

    To log in to the workshop, you will need the email address you used to register. Once you enter your first name, last name, and email address on the login screen, you will be sent a verification code to your email address. Once you enter your verification code, you will have access.

    Please note: once you have entered your email address in the virtual portal, it can take up to 10 minutes to receive your verification code.

    If you need assistance, please reach out to us at events@familyoffice.com.

    Which technologies are you using?

    CVENT is our virtual portal.
    Zoom facilitates video streaming.

    What device should I use?

    Some offices prevent access to external conference platforms from corporate VPN accounts. You may find it easiest to use a personal device to access this event.

    How do I access the sessions?

    To access Workshop sessions, click on “All Sessions”, at the top on the day you wish to participate in, and then the session you plan to attend. Once inside the session – click the “Join Session” button.

    What do I do now that I’ve logged in?

    We recommend:

    • Completing your profile.
    • Reviewing the “attendee” section.
    • Taking some time to become familiar with the portal, and the “All Sessions” page, where you will access the sessions.

    When should I log in to attend the session?

    We recommend you log into the portal at least five minutes prior to the session to ensure you have enough time to receive a verification code (if needed) and navigate to your session.

    Do I have to log in every time I visit the event?

    If you do not close your browser windows or log out of the workshop, you will not need to log in again. Otherwise, you will need to log in again.

    What is the time zone?

    All published times are in U.S. Central Time.

    Can other people see me, and if so – what is the dress code?

    Please note that participants can see each other on camera, and camera use is encouraged. Business casual attire is recommended.

    How can I change my visibility setting from hidden to visible or vice versa?

    Navigate to “edit your profile,” where you can change your visibility.

    My question isn’t here, how can I get additional help?

    Please email events@familyoffice.com and we’ll be delighted to assist you.