ADDITIONAL PRAISE FOR FAMILY TRUSTS
“In Chap. 1 of Loring and Rounds: A Trustee's Handbook, the authors remind its readers that the Anglo-American trust is an ancient principles-based regime that will survive into the 21st century only so long as it is administered by persons of principle. As a practical matter, what does that mean? Family Trusts does an admirable job of answering that question, and in prose that will be readily understandable not only to the trust professional but also to the family member new to the ‘trustscape.’”
– Charles E. Rounds, Jr., Professor of Law, Suffolk University Law School
“At long last – a clear and concise guidebook for those who don't understand the complexities of family trusts! The three authors offer practical strategies and sample documents for many trust challenges – why to set up a trust, how to select a good trustee, and how to be a good trustee or beneficiary. Start with the chapter that applies to your case, and you will be compelled to read the other related chapters. And grantors need to read it all, before they sign or revise their estate plans.”
– Sara Hamilton, Founder and CEO, Family Office Exchange
“A trust is a powerful tool that too often turns beneficiaries into trust-fund babies, creates resentments and rifts among family members, and ultimately deforms many a family's legacy. Family Trusts helps wealthy families and their advisors avoid those outcomes by building what they call a ‘comprehensive model for a humane trustscape.’ No grantor should plan their estate, no beneficiary should accept their next check, and no advisor should meet with their next client without first reading this book.”
– Angelo Robles, Founder & Chairman, Family Office Association
“The authors tell us that 80 % of beneficiaries view trusts as a burden, yet over 90 % of private wealth is tied-up in some form of trust by the time of the third generation. Hence these trusts become ‘arranged marriages’ between the beneficiaries and the trustees. This insightful guide walks one through how to best prepare for that ‘meteor moment’ by focusing on the creating the best culture for these new arrangements to not only survive, but flourish.”
– Thomas R. Livergood, Founder & CEO, The Family Wealth Alliance
“Jay has outdone himself once again! Family Trusts combines his and his co-authors' many years of trust wisdom with a practical and theoretical guide to both creating and administering trusts with an important emphasis on family values. Hartley, Jay, and Keith's eminent qualifications to author such a book are powerfully displayed throughout. The book is a must read for all trust professionals!”
– Al King III, Co-CEO, South Dakota Trust Company LLC
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Cover Images: Detail from The Creation of Adam, 1511 © Michelangelo Buonarroti/GettyImages; Texture paper © Malsveta/iStockphoto
Cover Design: Wiley
Copyright © 2016 by Hartley Goldstone, James E. Hughes Jr., and Keith Whitaker.
All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
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Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.
