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Trust Services

Client Centered

Trust services are available through The Private Trust Company, N.A., (PTC) an affiliate of LPL Financial. The Private Trust Company, N.A., serves as trustee, co-trustee, or agent for the trustee while specializing in delegating investment management to financial advisors. This model allows our clients to utilize The Private Trust Company to provide professional trust administrative services while we provide investment management services.

PTC serves in an administrative corporate trustee role, providing all record keeping, accounting and tax preparation; also, PTC ensures that trusts are managed and distributions occur according to the terms of the trust document. Licensed in all 50 states under its 1995 national banking charter, the bank does not engage in any lending or deposit taking, therefore specializing solely in providing fiduciary services.

Together with the The Private Trust Company we can assist you with these and other needs:

  • Revocable Living Trusts
  • Irrevocable Trusts
  • Charitable Remainder Trusts
  • Charitable Lead Trusts
  • Special Needs Trusts
  • Private Foundations Guardianship
  • Family Office Group Relationships
  • Custodial Relationships
  • Agency Relationships

The Long-Term Benefits of Choosing a Professional Trustee

Trustees may have to make tough decisions that might not be popular with all your beneficiaries. After all, the trustee is carrying out your instructions, not your beneficiaries’ wishes. This can be a difficult role to fulfill for a family member, who may not be objective, or may wish to act in a manner that avoids hard feelings within the family, rather than carrying out your instructions. Also, few family members have investment management skills or expertise in fiduciary law and practice. Family members can be given important advisory roles, in approving disbursements, for example, or other exercises of discretion.

The Benefits of Naming a Professional Trustee Include:

  • Personalized loyalty and independence to carry out your wishes
  • Knowledgeable management, protection and defense of trust assets
  • Experienced oversight of the investment process to be carried out by your financial advisor
  • Timely and accurate statements of the account to keep you and all current beneficiaries informed
  • Consistent annual reviews
  • Accountable collection and prudent distribution of income and assets
  • Tax reporting, filing and comprehensive regulatory compliance on behalf of the trust

While individual state law can govern the construction and validity of the trust, The Private Trust Company administers most trusts under Ohio law due to its consistent, fair and flexible legal and tax environment.

The Benefits of Ohio Law Include:

  • Uniform Prudent Investor Act providing flexible and modern investment rules, which, among other positive aspects, allow the ability to delegate investment management responsibility to the client’s financial advisor.
  • Use of Total Return Trusts, which may be more favorable to both current and future beneficiaries.
  • Trusts can continue for as long as desirable since Ohio law allows for opting out of the Rule Against Perpetuities.
  • Attractive statutory environment for those setting up trusts.
  • Settled law protecting beneficiaries of trusts.
  • Clear standards for trustees, promoting consistent administration.
  • The ability to utilize a family member as a “Trust Advisor” or “Trust Consultant.”
  • Beneficial trust income tax treatment in most cases.

Learn how establishing a trust may help you pursue your estate planning needs.

The Private Trust Company

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