Planning Wisdom of the Super Rich - What is a Private Trust Company?
Some wealth families that have assets in trusts want more than what they can get from many professional or corporate trust companies. For these people, setting up their own private trust company can be a viable solution!
In the latest installment of Planning Wisdom of the Super Rich, Devang explores the inner-workings of private trust companies and who they can be most beneficial for. There are numerous factors to consider when making the decision to go with a private trust company, so we’ll shed some light on how you and your family can decide if one makes sense for your financial situation.
So sit back, relax, and enjoy another enlightening conversation!
Timecodes:
0:06 – Overview on today’s topic
1:36 – The types of trust companies that exist
2:05 – The appeal of utilizing a private trust company
4:45 – Additional reasoning someone should consider with private trust companies
6:08 – How a private trust company can work with a family on more personal concerns as well
7:40 – How a private trust company incorporates privacy for affluent families
9:40 – Taking the first step forward towards getting a private trust company established
11:09 – How to get in touch with Devang and his team at Virtus Wealth Solutions
11:58 – Closing remarks
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