Example of a Conflict of Interest

• Trustee sits on the board of a corporation which offers options to Board members and accepts the options as personal compensation.

Questions Wealth Owners Should Ask to Surface Conflicts

• How do you identify the financial needs of the current beneficiaries and balance them against the future claims of the remaindermen?
• Where do you get your training on trustee responsibilities?
• Do you personally benefit from any of your trustee assignments?
• Under what circumstances would you step down from your role as trustee and what is the method or criteria for naming your successor?
• How are you paid for your services as a personal trustee and do you understand that you are accepting personal liability for this role?