Are We Missing the Purpose of the Purpose Trust?Are We Missing the Purpose of the Purpose Trust?
Advisors and attorneys shouldn’t be afraid to use it.
There are hundreds of family business planning and family office specialists across the country whose specialty is to perform all-around planning for closely held businesses, from tax planning to succession planning, the latter in many cases being the most important for long-term considerations.1 For the most part, these planning firms are typically made up of talented, experienced and well-educated individuals whose mission is to keep the family and the family’s business on a path consistent with the owners’ objectives. In doing so, they must make it their business to keep abreast of the latest developments related to the field of family business planning.
A good example of this type of development is the private trust company (PTC).2
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