Until recently, many families filled key governance roles associated with their trust and estate planning with trusted friends, colleagues, or advisors who were flattered to be asked and honored to serve.
The role of the trustees has evolved rapidly, and there has been a transition in the investment standards guiding trustees from being a “prudent man” using legal lists to being a “prudent investor” employing modern portfolio theory.
John P.C. Duncan, Partner – Kozusko Harris DuncanRichard Johnson, Partner – Waller Lansden Dortch & Davis, LLPJohn Seckman, President – Shoebox Private Trust Company
Wednesday, November 29, 2017
The Beneficiaries Relations Committee (BRC) is the “it” name for the committee person or persons determining trust distributions to the beneficiaries. The BRC, however, is not just making trust distributions; there's more to it.
You’ve built a valuable and successful business through hard work, long hours and countless decisions. You want to plan for transitioning the company, and the wealth you’ve created to future generations, but you aren’t ready to cede control.