DOUGLAS BLATTMACHR &
During a trip in Alaska in the mid 1990’s, Douglas Blattmachr, an experienced trust company manager, and his brother, Jonathan, a tax and estate-planning attorney, began discussing the trust industry and its current limitations, not only in Alaska, but nationwide. From here, they began crafting an idea to change the way that trust companies operated and increase estate planning options available to individuals creating trusts. This idea ultimately turned into the creation of the Alaska Trust Act and Alaska Trust Company. This combination would provide for a better client experience than the traditional trust bank institution and new trust planning techniques to meet the individual needs of grantors, beneficiaries, and their estate planning advisors.
Having managed and overseen the trust department at First National Bank of Fairbanks in the late 1970’s to early 1980’s, Douglas had strong insight into the Alaska trust industry. He had a passion for the state and its welfare. Douglas and Jonathan recognized Alaska’s need to diversify its economy from its dependence on oil and mining. They believed Alaska could become the ultimate trust jurisdiction by working with the Alaskan legislature to create unique trust statutes.
Prior to 1997 a number of factors made Alaska a desirable trust and estate jurisdiction – the Alaskan pioneering spirit, no state income tax and a pro-business legislature. From their experience in estate planning and trust management, Douglas and Jonathan proposed new legislation and partnered with the state legislature and the governor to pass the Alaska Trust Act in 1997. The Alaska Trust Act established Alaska as the first state to accommodate self-settled spendthrift trusts, which allowed individuals and families to better use their lifetime transfer tax exemptions. Otherwise, known and gift and estate tax exemptions.
In the same year, Douglas combined his passion for Alaska, his experience in managing trusts, and the opportunities under the new Act, and founded Alaska Trust Company, later to become Peak Trust Company. Over the years, Alaska has added unique pieces of legislation to the Alaska Trust Act, building on the Legislature’s original foundational work. Since the passing of the Alaska Trust Act, Nevada has adopted similar legislation, making it also a top tier jurisdiction for trust and fiduciary services.
Today, at Peak Trust Company we are committed to offering our clients the highest level of service with choices that accommodate each of our clients’ unique trust and estate planning needs. Because we focus on trust administration as our core business, our team at Peak Trust Company is uniquely equipped to provide a depth of expertise and flexibility not commonly accessible in traditional bank trust departments. At Peak Trust Company we understand the clients’ individual situations, respond promptly to inquiries, and provide the resources to assist with complex planning, developing creative solutions. Peak Trust Company provides trust services in both Alaska and Nevada, ensuring clients anywhere can choose the jurisdiction best suited to their individual needs.