CHICAGO, Aug. 23, 2012 (GLOBE NEWSWIRE) -- Family Office Exchange (FOX), a global membership organization of single family offices and their advisors, announced it is including more trustee education in its 2012 event calendar. The workshop, titled "Grantors, Trustees, and Beneficiaries: A New Look at Roles and Responsibilities," will be held November 28-29 in New York.
This is the second time FOX has offered this workshop in 2012, the fourth time in the last two years. The membership organization is adding the program in response to high-demand for more education from members in the midst of selecting or becoming a trustee as well as beneficiaries interested in gaining a greater understanding of their rights.
"While families of great wealth rely heavily on trusts for their estate planning, many individuals assign or accept the role of trustee without fully grasping the scope of their fiduciary responsibilities or the accompanying personal liability it entails," says Mariann Mihailidis, FOX managing director of Councils. "Many don't have a full understanding of the grantor's intentions, and it is often unclear who is responsible for holding the trustee accountable, putting the trust's integrity at risk."
"We've found that this workshop fills an ongoing need, because there is very little formal education available to prepare grantors, trustees or beneficiaries," adds Mihailidis.
The November agenda will provide an in-depth look at the roles, responsibilities, rights and potential liabilities of everyone involved in the trustee process. Sessions include:
- Duties and Powers of the Trustee
- Educating the Beneficiary
- Distribution Provisions: Understanding the Issues and Options
- Understanding Prudent Investor Practices and the Prudent Investor Rule
- Fiduciary Risk and Litigation
- Trustee Best Practices
FOX membership is not required to attend the workshop, though attendance is limited to wealth owners, single-family office executives and qualified multi-family offices. Seating is capped at 50 attendees to assure an optimum learning experience. Additional information is available at https://www.familyoffice.com/learning-events/workshops/grantors-trustees-and-beneficiaries-new-look-roles-and-responsibilities.
About Family Office Exchange
Family Office Exchange supports a global member network of wealthy families and their advisors who are pursuing best practices for optimal management of their families' wealth and legacy. The community includes over 6,000 people from 650 organizations in 20 countries who utilize FOX's resources each year for advice, networking, education, and comparative metrics.
FOX is headquartered in Chicago and London, with offices in New York and Boston. For more information about FOX, call 1.312.327.1200 (The Americas) or 44.(0)20.7520.9443 (Europe, Africa, Asia/Pacific) or visit www.familyoffice.com.
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