History organization

A new member organization – the Private Trust Consortium – provides educational programs and risk mitigation services to individuals who operate private trusts

Those pushed into the role of a trustee can now use PTC as a go-to resource for trustee liability insurance, advice and training programs.

BOULDER, Colorado, November 30, 2021– (BUSINESS WIRE) – As the nation and the world embark on the largest transfer of private wealth in history, private trusts have become a common way for families to distribute assets to beneficiaries. People who are called upon for the role of trustee often come to this responsibility without professional guidance, training or support in the management of private trusts. That’s why, earlier this year, the Private Trust Consortium (PTC) was formed by a team of industry experts with extensive experience and expertise in setting up and managing private trusts.

“Trusts are a great vehicle for distributing wealth, but they also come with challenges and risks that are almost always overlooked by the individual trustee as well as the advisors they rely on for advice,” said Bill Waller, one of the founders of PTC, who for decades served as lead counsel in countless cases involving disputed wills, trusts and administration of estates. “It’s hard to say ‘no’ when a family member, friend or client is patting you on the shoulder and asking you to play such an important role. But a lot can go wrong and trustees need to know what they are getting into, where they may run into problems, and how they can avoid and mitigate those risks. This is why we have formed the Private Trust Consortium.

Among the programs and services provided by PTC are a library of member resources, videos and webinars on key topics related to trust management, and a market-leading Trustee Liability Insurance program available. by Chubb.

“Trustees often have the illusion that the general liability insurance that they have personally or in the course of their employment covers the problems that arise in the course of managing a trust, but this is almost certainly not the case. the case, ”said Bill McManus, member of the PTC management committee. who also has decades of experience as a litigator in trust and estate litigation. “Chubb has personalized an insurance policy for PTC members, built around the increasingly complex area of ​​trust administration and the unique circumstances they present.

While access to fiduciary liability insurance is a key part of joining PTC, avoiding unnecessary risks in the first place, learning from the experts, and understanding and adhering to best practices in fiduciary management are what distinguishes PTC. The organization will complement the experience and knowledge of its management committee with the best advice from industry veterans who understand private trusts inside and out.

On the PTC Board of Directors, Waller and McManus will join: co-founder Dennis Channer, who has extensive experience in wealth management and transfer; Co-founder Dick Gawlick who also has extensive experience in investment management and accounting; and Matt Clarke, an experienced litigator with frontline experience in private trust issues.

Whether someone is a counselor, close friend or family member who has been entrusted with the role of trustee, the need for reliable information, guidance and programs to support their efforts has never been greater. . The objective of the Private Trust Consortium is to provide this information as well as these programs and services.

The private trust consortium
1790 38e Street, office 207
Rocher, CO 80301 / 1-800-978-1237

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Jim Cudahy, on behalf of PTC
[email protected]

Rodney N.

The author Rodney N.