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Family trusts : a guide for beneficiaries, trustees, trust protectors, and trust creators /
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.
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Hoboken, NJ :
John Wiley and Sons, Inc.,
2016.
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| Colección: | Bloomberg
|
| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Acknowledgments xv <p>Foreword xvii</p> <p>Preface xxv</p> <p>Introduction 1<br /><i>Keith Whitaker</i></p> <p>Principles 3</p> <p>Notes 13</p> <p><b>Part One: Introducing the Trustscape 15</b></p> <p><b>Chapter 1 Navigation Works Better When You Have a Destination in Mind 17</b></p> <p>Beyond the Thought Experiment 20</p> <p>Questions for Reflection 22</p> <p>Note 22</p> <p><b>Chapter 2 The Trustscape 23</b></p> <p>Introducing Your Trustscape 25</p> <p>A Dynamic Tableau 26</p> <p>A Closing Exercise 27</p> <p>Note 28</p> <p><b>Chapter 3 Some Key Terms 29</b></p> <p><b>Chapter 4 Know Your Narratives 33</b></p> <p>Depends Where You're Sitting 35</p> <p>A Thirst for Education 36</p> <p>Note 39</p> <p><b>Part Two: The Players 41</b></p> <p><b>Chapter 5 The Trust 43</b></p> <p>A Short Description of a Long History 44</p> <p>A Closing Exercise 47</p> <p>Notes 50</p> <p><b>Chapter 6 The Trustee 51</b></p> <p>The Trustee 52</p> <p>Choices 55</p> <p><b>Chapter 7 Beneficiaries and Trust Creators 59</b></p> <p>Beneficiaries 62</p> <p>Trust Creators 66</p> <p>Notes 75</p> <p><b>Chapter 8 The Trust Protector and the Trust Adviser 77</b></p> <p>Trust Advisers 78</p> <p>Trust Protectors 79</p> <p>Choices 81</p> <p><b>Part Three: Building Great Relationships 85</b></p> <p><b>Chapter 9 Considerations Prior to Accepting Appointment as Trustee 87</b></p> <p>So
- You've Been Asked to Serve as Trustee 89</p> <p>Now for Some Homework 89</p> <p>If You Are New to the Trustscape 90</p> <p>Understanding the Technical Side 91</p> <p>Almost There 93</p> <p>A Final Step 94</p> <p>Note 95</p> <p><b>Chapter 10 Creating Preambles 97</b></p> <p>Preambles and Purpose 98</p> <p>"But My Trust Was Drafted 20 Years Ago!" 100</p> <p>Themes and Schemes 101</p> <p>Preambles Created by Trustees and Beneficiaries 102</p> <p>Revisit the Preamble 103</p> <p>As You Begin to Create Your Preamble 104</p> <p>Note 105</p> <p><b>Chapter 11 Action Steps Prior to the First Trustee-Beneficiary Meeting 107</b></p> <p>If You Are a Trustee 108</p> <p>If You Are a Beneficiary 110</p> <p>Note 113</p> <p><b>Chapter 12 Positive Events, Supportive Responses 115</b></p> <p>Matching Mind-set to Task 116</p> <p>Supportive Responses to Positive Events 119</p> <p>Play to Your Strengths 121</p> <p>Notes 122</p> <p><b>Chapter 13 Trustee-Beneficiary Meetings 123</b></p> <p>Premeeting Checklists 124</p> <p>If This Is the First Meeting 126</p> <p>A Sampling of Agenda Items 128</p> <p>An "Appreciative" Exercise 130</p> <p>Note 131</p> <p><b>Chapter 14 Requests for Distribution 133</b></p> <p>"This Worked because I Knew Susan . . ." 135</p> <p>The Request Process 137</p> <p>Analysis of a Request 139</p> <p>About Enhancement 142</p> <p>Note 143</p> <p><b>Chapter 15 Working with Addictions 145</b></p> <p><b>Chapter 16 Trusts and Marriage 153</b></p> <p>Prenuptials 154</p> <p>Within Marriage 157</p> <p>Second Marriages and Beyond 161</p> <p>Notes 163</p> <p><b>Chapter 17 Transitions 165</b></p> <p>Solomon's Ring 165</p> <p>This Too Shall Pass 166</p> <p>Changing the Trust 167</p> <p>Changing the Players 169</p> <p>Coming to an End 171</p> <p>Note 173</p> <p><b>Part Four: A Comprehensive Model for a Humane Trustscape 175</b></p> <p><b>Chapter 18 A Promise and a Challenge for Trust Creators 177</b></p> <p>A Trust Creator's Challenge 178</p> <p>First, an Exercise for Trust Creators 179</p> <p>Note 180</p> <p><b>Chapter 19 The Highest Duty of the Trustee and the Corresponding Responsibility of the Beneficiary 181</b></p> <p>I Wrote These Great Docs, but My Clients Won't Sign ... 183</p> <p>The Highest Duty of the Trustee and the Corresponding Responsibility of the Beneficiary 184</p> <p>Support for the Trustee 186</p> <p>Support for the Beneficiary 188</p> <p><b>Chapter 20 The Distribution Committee and the Office of the Beneficiary 191</b></p> <p>Distribution Committee 192</p> <p>The Office of the Beneficiary 195</p> <p>Conclusion 201</p> <p><b>Chapter 21 The Trustee and the Trust Protector Revisited 203</b></p> <p>Which Cap's on Top? 205</p> <p>A Different Approach 206</p> <p>Reconsidering the Institutional Trustee 209</p> <p>Note 211</p> <p><b>Appendices 213</b></p> <p>Appendix 1 Sample Legacy Letter 215</p> <p>Appendix 2 Sample Language Regarding Addiction 223</p> <p>Appendix 3 The Distribution Committee 235</p> <p>The Core Concept 236</p> <p>Committee Members 237</p> <p>Drafting Points 238</p> <p>Appendix 4 Private Trust Companies 243</p> <p>Definitions 243</p> <p>PTCs versus Individual Trustees 244</p> <p>Governance 246</p> <p>Best Practices 248</p> <p>Appendix 5 Family Trust Review 253</p> <p>Purpose 253</p> <p>Content 253</p> <p>Process 254</p> <p>Why Commission a Family Trust Review? 254</p> <p>Opportunities for Commissioning a Family Trust Review 255</p> <p>Note 256</p> <p>Appendix 6 Reflections on the Often Unexpected Consequences of the Creation of a Perpetual Trust 257<br /><i>By James E. Hughes Jr., Esq.</i></p> <p>Notes 273</p> <p>About the Authors 275</p> <p>Index 279</p>