Private Trust Companies

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

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).

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