03.20.2015

Purposeful Planning Institute-Fusion Collaboration 2015: The Ethical Trustee

Kim Kamin, Chief Wealth Strategist at Gresham Partners, LLC, spoke on The Ethical Trustee-Where Heart and Smart Meld Prudently at the Purposeful Planning Institute-Fusion Collaboration 2015 on March 19, 2015. The goal of this session was to review the trustee’s legal and ethical duties with a focus on how the trustee role has evolved over time and how there is a difference between being a “scared” trustee and being an “ethical” trustee. Some issues included (1) how the ethical trustee should make distributions to beneficiaries and help support them in leading meaningful lives, and (2) how a trustee should not be so frightened of some of the interpretations of the Prudent Investor Act focusing on diversification that the trustee of a large enough trust fails to adequately take on appropriately compensated risks (including concentrations in private companies) that provide real growth opportunities. This topic was designed to help the audience members think more openly about what it means to be a good trustee and assist those who are trustees in their service. The program took place at the Hilton Orlando, Lake Buena Vista, FL. Additional information for this program can be found online at: http://purposefulplanninginstitute.com/Fusion/florida2015_breakout_sessions.html