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Eric Hoffstein quoted in "Your client is a trustee of private shares - now what?"

Jun 01, 2018

Minden Gross LLP lawyer Eric Hoffstein was quoted in "Your client is a trustee of private shares - now what?" He discusses what trustees should be taking into consideration. The article was published on Wednesday, May 30, 2018 by

Your client is a trustee of private shares - now what?​

By: Michelle Schriver

If you advise a family with a private corporation, trustee concerns could arise for family members. That could happen when shares become part of the business founder’s estate after death, or when shares are held in trust as a result of succession planning.

Here are some initial considerations for trustees, as well as considerations when drafting a trust deed, as discussed by an expert panel at STEP Canada’s 20th national conference in Toronto this week.

Top of mind for trustees

The first question for a trustee of private shares to ask is whether to hold or dispose of those shares.

Trustees should first consult the trust document for guidance, said Eric Hoffstein, partner at Minden Gross in Toronto. Guidance includes whether trustees have voting control and whether they’re bound by the prudent investor rule, which deems trustees must act as would a prudent businessperson...Read the full article at

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