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Ethical Considerations in Thorny TrusteeshipsEthical Considerations in Thorny Trusteeships

Don’t get pricked by complacency

Kim Kamin, Partner

April 28, 2015

18 Min Read
Ethical Considerations in Thorny Trusteeships

Being a trustee always has challenges. Trustees must fulfill their duties of loyalty by avoiding conflicts and putting beneficiaries’ interests before their own. Some trusteeships, however, can be particularly thorny in that they have inherent structural conflicts requiring careful navigation. For example, when an advisor or beneficiary is also a trustee or when the trustee function is divided among separate parties, the potential for conflict and complication increases. Just because the governing laws or instruments purportedly permit such conflicts or appear to relieve trustees of liability, trustees aren’t necessarily fully excused from their ethical duties to avoid favoring self-interest and protect beneficiaries from harm. Pure reli...

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About the Author

Kim Kamin

Partner, Gresham Partners LLC

http://www.greshampartners.com/team-member/kim-kamin/

Kim Kamin is a partner at Gresham Partners LLC where she serves as Chief Wealth Strategist. In that role, she leads Gresham’s development and implementation of services relating to wealth transfer planning, trust and estate administration, philanthropy and RisingGen engagement and education. Previously she was a partner at a large law firm where for many years her legal practice involved all aspects of estate, trust and charitable planning, administration, and dispute resolution.

In addition, she is an adjunct professor at the Northwestern University Pritzker School of Law and is on faculty as a lecturer for the University of Chicago Booth School of Business Executive Education.

Ms. Kamin is on the Editorial Advisory Board of Trusts and Estates Magazine on the UHNW and Family Office committee. She is also Estate Planning and Legal Services Domain Chair for the UHNW Institute, is a frequent lecturer nationally, and publishes on a broad array of topics.

She received her B.A., with distinction and departmental honors, from Stanford University and her J.D. from the University of Chicago Law School. She is an AEP® (Distinguished) and a 21/64 Certified Advisor.