The real-estate company controlled by Jared Kushner, President-elect Donald Trump’s son-in-law, has hundreds of millions of dollars in loans outstanding from domestic and foreign financial institutions, markets condominiums to wealthy U.S. and foreign buyers and has obtained development financing through a controversial U.S. program that sells green cards.

Those and other business activities could raise conflict-of-interest issues if Mr. Kushner is named to a staff position in the Trump administration. Executive branch employees are prohibited from participating in any matter in which there is “a close causal link” between that matter and a “real possibility” of a financial gain or loss, according to the U.S. Office of Government Ethics.

Mr. Trump has floated the idea of Mr. Kushner taking a number of roles in his administration. But he also is considering not giving Mr. Kushner any staff position to sidestep the conflict issue, a person familiar with his thinking said Monday.

If Mr. Trump wanted to give Mr. Kushner an official role he also would have to comply with federal nepotism law. Even if Mr. Kushner were to serve in the new administration as an unpaid adviser, his potential influence on policy would invite scrutiny, legal experts said.

Mr. Kushner has discussed putting his assets in a blind trust as part of accepting a federal job. But this probably wouldn’t work unless he sold assets and put the money in a trust. “You can’t pretend you don’t own something just by putting it in a blind trust.”

Ethics experts are divided on how strictly conflict-of-interest rules should be interpreted.

In any case, let’s ‘cross that bridge when we get to it’.