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Feb 2025

How to answer this Technical interview question about Legal Risk Management for Mid-Level Family Office Legal Counsel?

What strategies do you use to mitigate legal risks associated with trust and estate planning for high-net-worth families?

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Family Office Legal Counsel

Technical

Asked at

Bessemer Trust

Difficulty :

Medium

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Explanation

This question evaluates your ability to identify and mitigate legal risks in trust and estate planning, ensuring compliance and protecting family assets. Recruiters are looking for candidates who use proactive strategies and legal tools to address risks like tax audits, disputes, or regulatory changes. A strong answer will include examples of using legal frameworks and risk management plans. Avoid failing to address evolving regulations.

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Answer Example

To mitigate legal risks, I ensure all trust and estate planning documents adhere to local and international laws, and I use tax-efficient structures like irrevocable trusts. For example, I identified potential exposure in an estate plan due to outdated documents and recommended revisions to align with the latest tax laws, reducing the risk of IRS scrutiny. I also maintain contingency plans for regulatory changes, ensuring the family remains protected under evolving legal frameworks.

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