"You shouldn't try to avoid conflicts of interest, because they're impossible to avoid. At some point, they will come up. The way to handle a conflict is to be trained about what may come up, to be very clear about disclosing them, and to make sure that disinterested, non-conflicted people are approving things."

- Andrew Schulz, General Counsel, Arabella Advisors

Source: December 11th NCFP Webinar: Toeing the line: Addressing common legal pitfalls in family foundation governance