Latest / The High Net Worth Podcast with Fexingo: Wealth Management, Tax Strategy, and Affluent Finance
How Private Family Trust Companies Ensure Generational Wealth Control
Many ultra-wealthy families are moving away from commercial banks and setting up their own private trust companies. In this episode, we explore why a family might charter its own trust company in a jurisdiction like South Dakota or Wyoming, how it allows for customized investment strategies and lending policies, and the estate planning advantages like dynasty trust creation. We break down the setup costs (often $100k-$500k in legal fees plus annual operating costs) and the governance requirements, including the need for a trust advisory committee. We also discuss the $30 billion+ in assets…
The skinny
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