Family Trusts: A Guide for Beneficiaries, Trustees, Trust Protectors, and Trust Creators (Bloomberg)
Product ID: 18930985
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An insightful and practical guide to family trusts Family Trusts is a step-by-step guide for anyone involved in family trusts: trust creators, trustees, beneficiaries, and advisors. It will help families create and administer a culture that recognizes trusts as a gift of love. Marrying the practical and emotional aspects of family wealth, this book provides a hands-on primer that focuses on fostering positive relationships, and structuring the trust appropriately for the situation and the people involved. It tackles difficult topics with frank and honest discussion, from the first beneficiary meeting to working with addictions, and more. Written by a team of experts in family wealth, this information is becoming increasingly crucial to the successful execution of a trust; you'll learn what type of person makes the best trustee, how to be an excellent beneficiary, and the technical aspects that help you build a better trust from the very beginning. There's been a staggering increase in trustee/beneficiary litigation and hostility, but that doesn't mean it's inevitable. Plenty of trusts are running smoothly, with positive experiences on all sides. This book shows you how to set up your trust to succeed from the start, with step-by-step guidance and expert insight. Express clear and thoughtful intent for the trust Create a healthy and supportive culture Select the right trustee, trust protector, and trust advisor Take the time to prepare before initially meeting the beneficiary Conduct a productive first meeting to set a tone for the relationship Historically, there has been little consideration given to the culture of trusts, and this oversight may be a key driver of the behavior that's becoming more prevalent. Family Trusts explores the nature of these relationships, and shows you how to build a trust that retains the nature and spirit with which it was intended. Review: A practical tool kit for the trustee beneficiary relationship - There are very few books that can be found that explain the trustee beneficiary relationship in terms that can be easily followed by readers who are not lawyers or otherwise involved as professionals in the trust industry. This is one of the few and that fact alone will make this a special and popular book. In theory it is often said that trusts are a relationship but what does that mean and how do you ensure that it is a good relationship? You could almost go as far as saying that Family Trusts, a Guide is a "relationship tool book" that aims to point the way to good relationships in the trust context and provides very practical actionable exercises and approaches. Because of this I actually see this as also being a book about the topic of family governance, because the relationship tools that it provides can be used in other situations where family members have to work with each other. Another area where the book is very up to date with international trusts practice is that it does talk in detail about the protector role and has useful suggestions on how to think about protectors. The discussion of the distribution function in trusts is new and innovative. I recommend the book to international readers who are involved in the structuring, & administration of trusts, as well as for trust settlors, beneficiaries and protectors, and of course trustees and trust officers. Review: R - Excellent read!
| Best Sellers Rank | #312,137 in Books ( See Top 100 in Books ) #58 in Estates & Trusts Law #189 in Wealth Management (Books) #583 in Economics (Books) |
| Customer Reviews | 4.6 out of 5 stars 106 Reviews |
C**T
A practical tool kit for the trustee beneficiary relationship
There are very few books that can be found that explain the trustee beneficiary relationship in terms that can be easily followed by readers who are not lawyers or otherwise involved as professionals in the trust industry. This is one of the few and that fact alone will make this a special and popular book. In theory it is often said that trusts are a relationship but what does that mean and how do you ensure that it is a good relationship? You could almost go as far as saying that Family Trusts, a Guide is a "relationship tool book" that aims to point the way to good relationships in the trust context and provides very practical actionable exercises and approaches. Because of this I actually see this as also being a book about the topic of family governance, because the relationship tools that it provides can be used in other situations where family members have to work with each other. Another area where the book is very up to date with international trusts practice is that it does talk in detail about the protector role and has useful suggestions on how to think about protectors. The discussion of the distribution function in trusts is new and innovative. I recommend the book to international readers who are involved in the structuring, & administration of trusts, as well as for trust settlors, beneficiaries and protectors, and of course trustees and trust officers.
M**R
R
Excellent read!
S**Y
Perfect for examining the trustscape from a holistic view
This book was exactly what I needed to be able to understand the Trustscape and make sure I had pertinent questions to ask.
J**M
Research for estate planning
Interesting reading for the family that has significant enough assets to protect and a family trust might be required because: 1. the adult heir(s) do not have the education or financial or management skills to run the business or protect the assets; 2. An older adult heir has a diminished mental or physical condition that would allow them to be easily taken advantage of and potentially lose the inheritance if not protected and if a conservator is not desired; or, 3. The heir(s) are minor children and it is not deemed suitable for their guardian(s) to manage their assets..
D**.
Required reading for everyone involved with a family trust
Outstanding book-extremely well thought out and important to read before finalizing the documents for your trust. Unfortunately I have known several people who have been greatly harmed by the structure of their trust. It is very important to consider how your trust can benefit and how it can harm those you are trying to help. This book does an excellent job of presenting a number of important points to help all involved with a family trust now and in the future.
J**Z
Great start in my journey to creating a family legacy.
While I’m not sure this is the first book to read, this is a must for the top 3 books when establishing a family trust and a legacy. I feel like I have three couches in a journey that will make a lasting impact for future generations. I can’t wait to implement the topics and systems discussed in this book.
H**S
Excellent! Outstanding
A must read for anyone navigating family relationships and estate planning. A must read for everyone at some time in life. Excellent! Outstanding! Highly recommended.
U**E
Good Read TRUST me
Good read raises a lot of interpersonal issues that one would not have thought of
K**R
Good
Very good packing but the delivery took time from the date of order. Other than that, all good.
F**R
informative
easy to read and understand
A**O
A different approach to Family Trusts
Being an attorney working with a very interesting Family I really think this view could be very helpful to create a Family Trust that might work over the years, regardless the type of persons the potential beneficiaries are, as long as it considers the "person" meaning the beneficiary in all dimensions rather than just thinking the legal and tax implications to be considered while forming the "figure" of the Family Trust, and helps the settlor to make more "complete" decisions.
E**I
Knowing better how to deal with finance
It was useful to know
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