Оглавление
Keith Whitaker. Family Trusts
ADDITIONAL PRAISE FOR FAMILY TRUSTS
DEDICATION
ACKNOWLEDGMENTS
FOREWORD
PREFACE
What Can This Guide Do for You?
From Positive Stories to Action Steps
INTRODUCTION
Principles
PART ONE. INTRODUCING THE TRUSTSCAPE
CHAPTER 1. NAVIGATION WORKS BETTER WHEN YOU HAVE A DESTINATION IN MIND
Beyond the Thought Experiment
Questions for Reflection
CHAPTER 2. THE TRUSTSCAPE
Introducing Your Trustscape
A Dynamic Tableau
A Closing Exercise
CHAPTER 3. SOME KEY TERMS
CHAPTER 4. KNOW YOUR NARRATIVES
Depends Where You're Sitting
A Thirst for Education
PART TWO. THE PLAYERS
CHAPTER 5. THE TRUST
A Short Description of a Long History
A Closing Exercise
CHAPTER 6. THE TRUSTEE
The Trustee
Choices
CHAPTER 7. BENEFICIARIES AND TRUST CREATORS
Beneficiaries
Trust Creators
CHAPTER 8. THE TRUST PROTECTOR AND THE TRUST ADVISER
Trust Advisers
Trust Protectors
Choices
PART THREE. BUILDING GREAT RELATIONSHIPS
CHAPTER 9. CONSIDERATIONS PRIOR TO ACCEPTING APPOINTMENT AS TRUSTEE
So – You've Been Asked to Serve as Trustee
Now for Some Homework
If You Are New to the Trustscape
Understanding the Technical Side
Almost There
A Final Step
CHAPTER 10. CREATING PREAMBLES
Preambles and Purpose
“But My Trust Was Drafted 20 Years Ago!”
Themes and Schemes
Preambles Created by Trustees and Beneficiaries
Revisit the Preamble
As You Begin to Create Your Preamble
CHAPTER 11. ACTION STEPS PRIOR TO THE FIRST TRUSTEE-BENEFICIARY MEETING
If You Are a Trustee
If You Are a Beneficiary
CHAPTER 12. POSITIVE EVENTS, SUPPORTIVE RESPONSES
Matching Mind-set to Task
Supportive Responses to Positive Events19
Play to Your Strengths
CHAPTER 13. TRUSTEE-BENEFICIARY MEETINGS
Premeeting Checklists
If This Is the First Meeting
A Sampling of Agenda Items
An “Appreciative” Exercise
CHAPTER 14. REQUESTS FOR DISTRIBUTION
“This Worked because I Knew Susan…”
The Request Process
Analysis of a Request
About Enhancement
CHAPTER 15. WORKING WITH ADDICTIONS
CHAPTER 16. TRUSTS AND MARRIAGE
Prenuptials
Within Marriage
Second Marriages and Beyond
CHAPTER 17. TRANSITIONS
Solomon's Ring
This Too Shall Pass
Changing the Trust
Changing the Players
Coming to an End
PART FOUR. A COMPREHENSIVE MODEL FOR A HUMANE TRUSTSCAPE
CHAPTER 18. A PROMISE AND A CHALLENGE FOR TRUST CREATORS
A Trust Creator's Challenge
First, an Exercise for Trust Creators
CHAPTER 19. THE HIGHEST DUTY OF THE TRUSTEE AND THE CORRESPONDING RESPONSIBILITY OF THE BENEFICIARY
I Wrote These Great Docs, but My Clients Won't Sign…
The Highest Duty of the Trustee and the Corresponding Responsibility of the Beneficiary
Support for the Trustee
Support for the Beneficiary
CHAPTER 20. THE DISTRIBUTION COMMITTEE AND THE OFFICE OF THE BENEFICIARY
Distribution Committee
The Office of the Beneficiary
Conclusion
CHAPTER 21. THE TRUSTEE AND THE TRUST PROTECTOR REVISITED
Which Cap's on Top?28
A Different Approach
Reconsidering the Institutional Trustee
APPENDICES
APPENDIX 1. SAMPLE LEGACY LETTER
APPENDIX 2. SAMPLE LANGUAGE REGARDING ADDICTION
APPENDIX 3. THE DISTRIBUTION COMMITTEE
The Core Concept
Committee Members
Drafting Points
APPENDIX 4. PRIVATE TRUST COMPANIES
Definitions
PTCs versus Individual Trustees
Governance
Best Practices
APPENDIX 5. FAMILY TRUST REVIEW
Purpose
Content
Process
Why Commission a Family Trust Review?
Opportunities for Commissioning a Family Trust Review
APPENDIX 6. REFLECTIONS ON THE OFTEN UNEXPECTED CONSEQUENCES OF THE CREATION OF A PERPETUAL TRUST30
ABOUT THE AUTHORS
INDEX
WILEY END USER LICENSE AGREEMENT
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With this awareness it became clear to us that all too often the trustee is more concerned with the trust as a structure than with the culture that the trust creates. A culture that will succeed for the beneficiary begins with the trust creator's question: am I intending to make a gift of love and a gift that will enhance the beneficiaries' lives? Or am I seeking to make a transfer that solves my tax concerns, that keeps the beneficiaries' creditors from getting my money, and perhaps even creates a memorial to my dream, now embodied in an enterprise that I consider my true child and over which I seek through this trust to perpetuate my control? All these purposes are valid; but which ones lead and which ones follow will determine whether the trust is a blessing or a burden.
Often, a trustee cannot affirm for the beneficiary a set of positive goals and grow a positive trust culture. Instead, the beneficiary must live in a structure of relationships conditioned by a founder's goals that essentially disparage or ignore the beneficiary. For the beneficiary this is a negative culture, since the beneficiary's concerns will disappear in the endless details of the management of the structure. My thanks to Matthew Wesley for this insight, contained in his brilliant article, “Culture Eats Structure for Breakfast” (Wesley Group, 2015).
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