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Trustee University: The Guidebook to Best Practices for Family Trustees, by Philip J. Ruce
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Are you managing a trust to help fund a child’s education? Are you the trustee for your mother’s trust fund, working to make sure she gets her bills paid? Your work as a trustee is incredibly important, but it’s a part-time job without any on-the-job training! How do you learn how to do a job when there is no one there to teach you? Trustee University is a readable, accessible guide for family trustees, teaching you how to manage your trust without all the legalese! Trustee University covers everything a family trustee needs to know to effectively manage a trust fund. Whether it’s a beneficiary’s question about what his trust can pay for or an accountant’s questions about trust expenses, Trustee University guides you towards being the trustee you need to be. Author Philip J. Ruce—an attorney and former professional trustee—walks you through trust basics using easy-to-understand examples and diagrams. From the basic question of “what is a trust?” to the complexities of a trustee’s legal duties, Trustee University teaches you everything you need to know about managing a trust fund. Trustee University is packed with all the information you need, such as: • What you need to ask every time a distribution is made to a beneficiary; • What you need to know about every tax, investment, or legal professional who works on the trust; • The legal duties every trustee must follow; • Common problems and how to spot them before they cause trouble; • Free forms to help you set expectations with the trust beneficiaries so your family relationships remain strong.
- Sales Rank: #2324009 in Books
- Published on: 2015-01-05
- Original language: English
- Number of items: 1
- Dimensions: 9.00" h x .74" w x 6.00" l, .96 pounds
- Binding: Paperback
- 326 pages
About the Author
Philip J. Ruce, J.D., LL.M. is a Minnesota attorney practicing in the areas of trusts, estate planning and probate. Before entering private practice, Philip worked in the financial services industry for ten years, six of which were in estate and trust management. Philip is an adjunct professor of law, teaching in the field of wealth management and financial services law. His academic and legal research, cited widely, has been published by universities around the country. Philip and his family live in Minneapolis.
Most helpful customer reviews
1 of 1 people found the following review helpful.
Helpful advice to a beginning trustee
By LK Ruby
This book appears to be self printed when someone orders it. It had its share of typographical errors.
Pros:
It was full of useful advice for a novice trustee of a trust created through a will as part of an estate plan. It explained fiduciary concepts in an easy to understand way. The book contained many useful and interesting to read examples of situations a trustee may easily encounter while serving as a trustee. I highly recommend it if you are new to the role of trustee of funds or assets of another. The information it contains certainly would not replace a personal lawyer's opinion when questions arise as trusts are state specific as to laws, but it was certainly helpful to me to know what I could possibly expect down the road.
0 of 0 people found the following review helpful.
Five Stars
By Ron E Fonstad
This book answered all of my questions in an easy to read/understand format.
0 of 0 people found the following review helpful.
Four Stars
By Joan Brady
An excellent source. I highly recommend this book.!!
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