Canadian Stewardship in Action

The Stewardship course introduces the concept of stewardship and the role that stewarding principles play in beneficiary’s lives. Students explore values in terms of how they relate to stewardship and being a beneficiary.

Beneficiary Fundamentals Module 1 introduces the four “M’s” that inspire beneficiary stewardship. The module reviews important stewardship concepts when it comes to beneficial ownership around

1. meaning
2. modeling
3. mentoring
4. motivation

Beneficiary Fundamentals Module 2 focuses on the beneficiary and trustee relationships, including how the relationship evolves over time from the beneficiary’s childhood to adulthood. The types and nature of the fiduciary relationship are also explored. At the end of the module, learning checks challenge the student on their knowledge gained of the trustee/beneficiary relationship.

Beneficiary Fundamentals Module 3 focuses on the core responsibilities of a beneficiary, exploring how this role is unique, the special characteristics, and the best practices of a successful beneficiary. The module then expands on the important duties of the beneficiary including education and empowerment, monitoring and management, and planning.

Beneficiary Fundamentals Module 4 shares a fictionalized, anonymized case study that illustrates the relationship between trustees and their beneficiaries. The case provides insights about the beneficiary and trustee relationship and focuses on education and empowerment.

Trustee Basics Module 1 introduces the main parties to the trust – the settlor, the beneficiary, and the trustee. The module explores the "trustscape", an activity to look at the relationships among the different parties to the trust and feelings, emotions, opportunities, and questions that may exist. The module concludes with applied learning and a helpful resource and a concise summary of the trust concept, key terms, responsibilities, and duties of a trustee and beneficiary.

Trustee Basics Module 2 focuses on the core responsibilities and primary duties of the trustee. Four primary oversight areas of the trustee are explored including:

1. administration and monitoring of the trust
2. investment oversight
3. distribution authority
4. education and empowerment of the beneficiary

Trustee Basics Module 3 focuses on the types of trustees, exploring the role, responsibility, and differences between an individual trustee, a family member trustee, a non-family member trustee, and a corporate trustee.  This module also utilizes a real-life case study to demonstrate the dynamics of a family in conflict involving family member trustees.

Trustee Basics Module 4 provides further guidance regarding the process of sourcing trustee candidates, including writing a job description, vetting, interviewing, and prioritizing the best candidates. This module also shares insights regarding trustee compensation and effective ways to transition trustee duties to a successor.

• What key criteria is important to identify when you need to fill particular trustee positions?
• How do you craft the position description and set the expectation for the type of trustee you hope to attract?
• Where do you find good trustee candidates?
• How do you set them up for success once selected?