Thanks to William J. Kambas and Linda B. Meade for this article, the second of a periodic series of issues dedicated to topics related to private trust companies. Today’s article addresses a strategic tool available to family enterprises and their advisors with consolidated financial capital: The Family Bank. The focus of this article is on the more formalized approach to the family bank and provides insights for advisors and their clients who decide to establish a private family bank entity.¹

(Please note that this article is based generally on US law and is presented as an example that may be useful in other jurisdictions worldwide.)²

The second part of this two-part series by FFI Fellow James E. Hughes, Jr., and Keith Whitaker, commissioned by the James E. Hughes, Jr. Foundation, picks up where Part I ends. The authors further explore philosopher Kurt Riezler’s work for guidance on creating a “culture of care” among trustees and their beneficiaries.

Go here for Part I, and please read on for Part II.

Thank you to FFI Fellow James E. Hughes, Jr., and Keith Whitaker for this two-part article series, commissioned by the James E. Hughes, Jr. Foundation. In these articles, the authors reflect upon the meaning of “care” and how it is exhibited and can be developed through trusts, using their own experiences and the work of philosopher Kurt Riezler.

Please read on for Part I.