A third of private client lawyers surveyed in the Wealth Report research believe that private trust companies will be used more often in future. Katie Hawksley of the Boodle Hatfield private client team says that private trust companies have the advantage of allowing 'some element of influence' to remain with the people establish them. This element of influence may encourage those people to set up private trust companies rather than relinquishing control, as is required when traditional trusts are established. But Ms Hawksley adds that private trust companies are not for everybody as they 'tend only to be available for high wealth structures'. The report is sponsored by Global Legal Post in association with Boodle Hatfield.
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