Excerpt from The Modern Trust Company: Its Functions and Organization To a correspondent asking, "What book or books will best give me a working knowledge of trust company and banking methods; particularly regarding the work of the various departments of the trust companies?" the New York Evening Post recently replied that so far as it was aware no such book had been published. A search in library catalogues confirms the almost equally discouraging statement of the Chief Bibliographer of the Library of Congress that "there is not much literature on trust companies appearing in separate book form." On the other hand, much has been written about the functions, organization, and methods of the banks. The reason is easily given. The development of the "trust company idea" is a recent one, and only within the past twenty years have these corporations become a prominent factor in the financial world. Until the organization of the Trust Company Section of the American Bankers Association in 1896, the only publications in reference to trust companies were short chapters in works on banking and an occasional magazine article. Since that time the transactions of the Trust Company Section and articles in banking periodicals and the financial press have constituted the most important contributions to the subject; but in spite of all that has been written on special lines of trust company work, it is still difficult to obtain a general knowledge of what a trust company is and how it does its business. The aim of the present volume is to describe the functions and organization of the trust company as it exists in the United States to-day. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Private trust companies play an increasingly important role in the wealth structures of many ultra-wealthy families, offering a high degree of control and flexibility in the administration of a family's trusts and the management of trust assets. Featuring chapters written by leading practitioners from firms including Appleby, McDermott, Will & Emery and Squire Patton Boggs, this edition fully explores the legal, regulatory and practical dimensions of forming and operating a private trust company.The relevant law in prime jurisdictions including Bermuda, the Cayman Islands, Hong Kong, Jersey and key US states is thoroughly examined. In addition, content shines a light on organisational and operational issues such as designing a private trust company's ownership structure, implementing proper internal controls, outsourcing services and working with professional advisers. Important matters like coordinating with the family office, communicating with family, protecting privacy and handling disputes involving private trust companies are also tackled.New chapters in this edition cover:Guernsey;Switzerland; andsanctionsKey topics featured include:recent regulatory developments in the Cayman Islands;tax law changes in Hong Kong;legislative developments in Wyoming and other US states;recent cases relevant to private trust companies;discovery disputes involving private trust companies; andrecent developments concerning beneficial ownership disclosure requirements in the United States and Europe.This handbook is a comprehensive resource for lawyers, accountants, family office executives and others who advise families on private trust companies.

This is a comprehensive guide to trust companies in the United States. It includes detailed profiles of each company, including their history, structure, and services. The book also features analysis and commentary from experts in the field. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.