Next generation of trustees applies new perspective to sound fundamentals (Article and Video)

November 30, 2015

A great deal of focus has been placed on the next generation of business leaders, beneficiaries, and philanthropists. Rarely discussed, however, is the next generation of trustees that will guide them through so many crucial life decisions.

Serving as trustee is a natural extension of an estate planning role – it entails continuing to mold strategies for taxes, business succession, and family dynamics, while also taking responsibility for investment of trust assets and (often difficult) distribution decisions. Trust donors, beneficiaries, and trustees all face myriad issues that combine and compound to demand complex, emotional decisions. The trustees’ obligation is to gather all relevant information, digest it, and then provide trusted, informed counsel to guide families through these challenges.

The next generation of trustees knows that in-depth knowledge of the nuts and bolts of estate planning is only one part of the foundation needed to be a truly trusted advisor to families. They will have to develop investment acumen, anticipate family issues, apply their insight to unique situations, and deliver counsel with compassion.

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