Trust Governance

What structures, practices, and conversations help trustees and beneficiaries understand their roles and work together more effectively?

Family trusts do more than hold assets. They also shape authority, communication, relationships, and decision-making across the family enterprise. Trust Governance (formerly Trust Fundamentals Module 3) introduces the role of trust governance, including how trustees, beneficiaries, family members, and advisors interact; how legal authority differs from broader governance practice; and how thoughtful communication can support better outcomes. Learners will also consider when beneficiary disclosure may be required in Canada and what responsible, age- and stage-appropriate disclosure can look like in practice.

What You'll Be Able to Do on the Other Side

• explain the role of trust governance within a family enterprise;
• identify who holds legal authority and who may need to be consulted or informed;
• distinguish between the trust deed, legal obligations, and good governance practices;
• recognize how one person may hold several roles connected to the trust;
• explain the Canadian approach to beneficiary disclosure;
• identify practical tools that can support trustees and beneficiaries; and
• apply trust governance principles to a real-world family enterprise dispute.

The Experience

This module combines concise explanations, visual frameworks, practical examples, and applied reflection activities. You will consider tools such as trust advisory committees and the broader “trustscape,” examine how beneficiary disclosure can be handled thoughtfully, and hear perspectives from trust governance practitioners through curated podcast conversations. These include a discussion of trust advisory committees with Cindy Radu and Russ Haworth, as well as a conversation with James E. Hughes Jr., Ruth Steverlynk, and Wendy Sage-Hayward about why beneficiaries may experience a trust as a burden and how trustees and families can better support beneficiary development. The module concludes with a case study of the Rogers family and the Rogers Control Trust, illustrating how clear legal authority can coexist with communication gaps, overlapping roles, and unresolved conflict.

Featured Resources: 

• Family Trusts: A Guide for Beneficiaries, Trustees, Trust Protectors, and Trust Creators by Hartley Goldstone, James E. Hughes Jr., Keith Whitaker
• "The Rogers Saga and What It Can Teach Us About Family Business And Conflict" by Nicole Garton
• "How Ted Rogers Planned for Family Conflict and Set Up Rules to Resolve It" by Robert Brehl
• Podcast by Cindy Radu and Jane Beddall - The underappreciated opportunities of trusts
• Podcast by Jay Hughes with Ruth Steverlynk and Wendy Sage-Hayward - The Family Trust
• Podcast by Russ Haworth - Trust Governance