A private family trust company is an entity formed and governed by a family to serve as trustee for that family’s trusts. In Wyoming, this structure has become an attractive option for families who want a trustee arrangement that is more customized, more durable, and more governance-centered than traditional alternatives. When structured correctly, the Wyoming Private Family Trust Company can combine the personalization of a family-centered structure with the continuity and discipline of a professional trustee.
Who Benefits from a Wyoming PFTC?
A Wyoming private family trust company is often worth considering where a family has multiple trusts, meaningful asset complexity, a desire for family-centered governance, or a need for continuity that exceeds what an individual trustee arrangement can comfortably provide. It can also be attractive where the family wants to stay in the driver’s seat while creating a more durable fiduciary structure.
Private Family Trust Company Administration
A Wyoming private family trust company requires proper governance and experienced administration to operate effectively. Wyoming law permits a private family trust company to serve family members only, while allowing the family substantial flexibility in how governance is allocated through the company’s governing documents. The board of a private family trust company must be mindful of best practices for maintaining Wyoming nexus. For this reason, there are key fiduciary and administrative functions that should be carried out in a manner that maintains Wyoming as the principal place of administration. Our professionals may serve in appropriate board, officer, or administrative capacities to help manage ongoing operations while the family remains in control of the overall structure.
Family Office Services
Family office services can be transformative for family flourishing when they support the long-term vision of the family. The Private Family Trust Company (PFTC) can serve as the structural foundation for a bespoke family office. Families can assemble a personalized suite of services all coordinated under unified governance. Governance of the PFTC usually includes the family itself, ensuring that the structure reflects their values, priorities, and evolving needs.
We Can Help
We would love to speak with you if you are interested in creating a Wyoming Private Trust Company to serve as trustee of your family’s trusts.