Sponsored By
Trusts & Estates logo

Alternatives to the Virtual Clone TrusteeAlternatives to the Virtual Clone Trustee

Ten tips for helping human fiduciaries succeed

11 Min Read
Wealth Management logo in a gray background | Wealth Management

 

In a September 2012 Trusts & Estates article, “The Virtual Clone Trustee,” Avi Z. Kestenbaum and his co-authors proposed the use of a trustee of the future, the virtual clone trustee (VCT). By using an artificially intelligent computer program, the VCT would make decisions exactly the way our clients would in the same circumstances. We would gather data about our clients, through tests such as the Rorschach inkblot test, the Myers-Briggs Type Indicator and the NEO Five-Factor Inventory, as well as through direct observation of our clients’ daily behavior, and then enter the data into a computer. Finally, with the accuracy of behavioral predictive software, the computer algorithm would make decisions “like our client.” 

While offering our...

Unlock All Access Premium Subscription

Get Trusts & Estates articles, digital editions, and an optional print subscription. Choose your subscription now and dive into expert insights today!

Already Subscribed?

About the Authors

Marvin E. Blum

C.P.A

http://www.theblumfirm.com/

 

 

The Blum Firm, P.C., established by Marvin Blum over 30-years ago, has law offices in Fort Worth, Dallas, Austin, and Houston and specializes in the areas of estate planning and probate, asset protection planning, planning for closely-held businesses, tax planning, tax controversy, and charitable planning.  The company has grown to be the largest group of estate planning attorneys in the State of Texas. 

 

Mr. Blum is known for creating customized, cutting-edge estate plans, now serving hundreds of high net worth families, several with a net worth exceeding $1 billion.  Mr. Blum was chosen as one of the "Nation's Top 100 Attorneys" by New York's Worth magazine, and was also named one of the Top 100 Super Lawyers in Texas by Texas Monthly Magazine.  He is a highly sought-after speaker and lecturer among his peers, having made numerous presentations to legal and tax professionals, and has recently been named to the Editorial Advisory Committee for Trusts & Estates Magazine

 

Mr. Blum is highly dedicated to his community and currently serves as Secretary/Treasurer and one of three Board members (along with Emmitt and Pat Smith) of the Pat & Emmitt Smith Charities, a public charity devoted to creating opportunities for disadvantaged children.  Mr. Blum is in his 35th year as Treasurer of the Fort Worth Symphony, and served as Presiding Chair for numerous terms of The Multicultural Alliance, formerly The National Conference of Christians and Jews, a service organization fighting bias, bigotry and racism.  Mr. Blum has recently joined the Texas Cultural Trust Board of Directors to help raise public and legislative awareness of the importance of the arts in Texas. 

 

Mr. Blum, an attorney and Certified Public Accountant, is Board Certified in Estate Planning & Probate Law and is a Fellow of the American College of Trust and Estate Counsel.  He earned his BBA (Highest Honors) in Accounting from the University of Texas in 1974, where he graduated first in his class and was named Ernst & Ernst Outstanding Student in Accounting.  Mr. Blum received his law degree (High Honors) from the University of Texas School of Law in 1978, where he graduated second in his class and was named the Prentice-Hall Outstanding Student in Taxation.  Mr. Blum and his wife, Laurie, reside in Fort Worth, Texas.