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.
