The Ethical Dilemmas of Trust Fund Babies
3 Hours Ethics Credit, Insurance Credit, CE Credit
James (Jim) Pearson, ACS, CLU, LUTCF
- IA Course No. 104501
- NE Course No. 6000053866
In this course we will look at the ethical impacts of leaving large sums of money to individuals. Included will be an overview of revocable and irrevocable trust funds plus rules of fiduciary governance. Human nature easily spends lump sums of money quickly which is why trust funds are often put in place, yet when the trust fund ends, beneficiaries must handle the consequences of their own money mismanagement. Unfortunately, problems that existed before the lump sum was inherited are often magnified by suddenly having more money in the bank. Not just a stereotype, the effect trust funds can have on families is far-reaching and often surprising.