William Byrnes' Tax, Wealth, and Risk Intelligence

William Byrnes (Texas A&M) tax & compliance articles

Conflict of Interest: Sole interest or Best Interest

Posted by William Byrnes on March 17, 2014

by Roland Ortiz

One of the most fundamental tools for estate planners, either professional or individuals, is a trust.    Specifically, an inter vivos trust which is a legal arrangement by which property under state law can be transferred by a grantor to a trustee for management and stewardship.  Typically used to transfer grantor assets away from their gross estate, while allowing beneficiaries the benefit of life income, distribution of grantor’s assets or both.  This benefit begins and ends with a trustee’s administration of all assets in the trust.

When accepting this position, the trustee must adhere to the trust provisions and the Uniform Trust Code when evaluating investments, distributions, as well as the termination of the trust.  These provisions and codes are the guidelines for the trustee to administer the trust with fidelity and prudence.  For a trustee, duty of loyalty and good faith for the betterment of the beneficiaries are the cornerstones by which their position exists.

Read the full article at http://www.advisorfyi.com/2014/02/conflict-of-interest-sole-interest-or-best-interest/

Roland Ortiz currently provides clients with evaluations on fixed income trading, derivative trading, security trading, accounting, and portfolio valuations.  You can reach him at:  www.linkedin.com/pub/roland-ortiz/27/622/806/

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: