The private trust company (PTC) is a useful and increasingly popular vehicle to consider in the planning and establishment of trust structures for wealthy families and is frequently being used as an alternative to other options such as the reservation of powers by the settlor or the involvement of a third party in the role of protector.
When an offshore structure is being proposed in a location which is geographically distant from the settlor, the use of such options reflects an understandable concern on the part of the settlor that, at the time of establishment of the structure, he simply does not know the chosen trust company service provider and so may not feel wholly confident to transfer title to the relevant assets into the hands of what is effectively an unknown entity at that stage.
