Trust Estate

FOX Takes Trustee Workshop To San Fran

Harriet Davies Editor - Family Wealth Report 1 November 2011

FOX Takes Trustee Workshop To San Fran

Family Office Exchange, the Chicago-based membership organization for wealthy families, is repeating its two-day workshop on trusts, as it says there is a need for more education on the role of trustees among HNW individuals.

The first workshop, "Grantors, Trustees, and Beneficiaries: A New Look at Roles and Responsibilities," ran in New York City, and FOX is now taking the format to San Francisco on the 29 and 30 November.

The organization believes there is still misunderstanding among the high-net-worth community about the “full scope of responsibility and liability involved” in the role of trustee, and that many individuals assign or accept the role without being aware of the implications of fiduciary responsibility.

The workshop will aim to help grantors understand the skills and experience needed in a trustee, and thus aid the selection process, and appreciate the “responsibility and liability placed on the trustee,” according to FOX. It is also supposed to help trustees better understand their role.

The event is for wealth holders and family office executives only, but is not limited to members of the organization.

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