Appreciating Individual Trustees

An individual relative or friend might be more appropriate to serve as a trustee than a professional. In praising corporate trustees, commentators have identified three areas in which they can excel: cost, competency and conflicts between generations.1 Agreed. And, yes, these advantages are especially apparent when there are multi-generational trusts worth on the order of $300 million. But here's

An individual relative or friend might be more appropriate to serve as a trustee than a professional. In praising corporate trustees, commentators have identified three areas in which they can excel: cost, competency and conflicts between generations.1 Agreed. And, yes, these advantages are especially apparent when there are multi-generational trusts worth on the order of $300 million.

But here's the rub: cost, competency and conflicts are not the right criteria to use when

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