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Type of bind: Paperback
EAN num: 9780974006901
ISBN number: 0974006904
Label: Connecticut Bar Association/Law First Publishing
Manufacturer: Connecticut Bar Association/Law First Publishing
Quantity: 1
Page Count: 289
Printing Date: 2003-06
Publishing house: Connecticut Bar Association/Law First Publishing
Sale Popularity Level: 536481
Studio: Connecticut Bar Association/Law First Publishing
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This comprehensive guide details the ins and outs of becoming a trustee, the responsibilities it entails, the organization and control it requires, and the full wealth of information you’ll need to successfully administer a family or personal trust.
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Rated by buyers -
FINALLY if you are a visual person, you will want to check out the contents. Then read passages of your interests in this book, it is a TEN STAR BOOK ---->
If you are afraid to spend $35.00. Have a look inside, go to Part One, Chapter VI, page 53 - 56, "How You earn your fees: Routine Responsibilities"; AND also --> Chapter V, page 41 - 43, B. Your Responsibilities.
YOU MUST SEE Part Two, chapter III, page 101, " Trust Accounting ". Get a sample, a visual sample of court trust accounting. You need to know and see the format that shows how trust expenses are expected to be accounted daily though the end of each year for ALL assets.
Court accounting is easy enough to do yourself, just be sure to read your fiduciary responsibilities and assets management duties and keep YOUR MONEY SEPERATE from trust/estate funds in everything you do.
Don't wait for an attorney to tell you step-by-step how to do this, or provide you what you need to see. They will be way to busy sending you their bills for payment. If an attorney does give you a sample court accounting, find a large bank private client services officer who you can show you an example of a court accounting, for comparison. <--- DO NOT hire a bank to be co-trustee. Banks will sell all assets possible, and purchase stock that will earn their broker the highest COMMISSIONS. Just go to a bank for. . . free information, ONLY.
There is no guarantee that a corporate co-trustee will handle your family trust assets properly. In other words, you are responsible whether a co-trustee, or trust officer absconds with funds, invests improperly, or makes errors in the accounting. You will have to answer to the court and all beneficiaries. But don't worry, someone will always find something to say you are at fault. Keep it porportionate, and be 100% involved.
This book has an incredibly easy flow. It can save you an enormous amount of frustration with attorney's because you'll be knowledgable, and can counter comment. Plus, this book can all the Trust funds to be spent on the intended beneficiaries, not rapacious attorney's, co-trustees, or trust officers feeding their bank accounts.
There will always be disgruntled relatives, thieves within the family, and many shocking unknowns. You are not alone, it happens in the best of families.
Remember, attorney's are not the boss of your family Trust.
Get a copy of --> Your Trustee Duties: How to Dissect a Trust Contract, (Series 300: Retirees & Estates) (Paperback) by Holmes F. Crouch. THIS BOOK IS A TEN STAR, $10.75 used, with resources to answer any question you may have as beneficiary, or Trustee
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