On July 11, 2008, the Internal Revenue Service issued proposed guidance (Notice 2008-63) regarding the estate, gift, generation-skipping and income tax issues involved with trust companies that are family-owned or controlled, aka “private trust companies” (PTCs). This guidance, pending since 2005, has been much anticipated — as wealthy families are increasingly interested in forming their own PTCs (that is to say, entities that are owned entirely by members of the same family and serve as ...

All Access Premium Subscription

Your subscription will include 12 months of Trusts & Estates magazine, access to premium content on WealthManagement.com, and Trusts & Estates plus iPad app.

Already registered? here.