The Complete Book of Trusts [Paperback]

Martin M. Shenkman (Author)

Book Description

ISBN-10: 0471170445 | ISBN-13: 978-0471170440 | Publication Date: August 25, 1997 | Edition: 2

As one of the most powerful and flexible financial planning tools available, trusts can help you achieve several important goals, from minimizing estate taxes to avoiding probate and managing assets in the event of death or disability. This thoroughly updated and expanded edition of The Complete Book of Trusts offers a comprehensive overview that includes essential details on how you can best use trusts to meet the goals of your particular choice.

Covering 50 different types of trusts —including charitable remainder, credit shelter, and revocable living —this complete reference provides the guidance you need to determine which are the right trusts for you. Then, this indispensable resource takes you step by step through the entire process of setting up, managing, and terminating trusts. Along with an easy-to-understand introduction to trust basics, including provisions, trustee designations, and grantor's rights, here's where you'll find:

• Important details on the new Disclaimer Credit Shelter Trust
• Expanded coverage of Qualified Personal Residence Trusts (QPRTs), Grantor Retained Annuity Trusts (GRATs), Grantor Retained UniTrusts (GRUTs)
• Vital information on the tax consequences of trusts
• Clear descriptions of trusts for specific types of assets
• And much more!

Editorial Reviews

From the Publisher

Myth: Trusts are just for the very wealthy. Fact: Trusts are for anyone who wants to maximize his or her finances. This newly revised guide offers step-by-step instructions on how to select from among 50 trusts to best suit your needs, be it real estate, life insurance or stock trusts, set up a trust for a spouse, grandchild or non-marital partner and identify the tax risks and benefits of trusts. New to this edition: expanded information on QPRTs, GRAT, GRUT, new information on community property law new trusts such as: QPRT, GST, Inter-Vivos Credit Shelter Trust and Inter-Vivos QTIP Trust. --This text refers to an out of print or unavailable edition of this title.

From the Back Cover

As one of the most powerful and flexible financial planning tools available, trusts can help you achieve several important goals, from minimizing estate taxes to avoiding probate and managing assets in the event of death or disability. This thoroughly updated and expanded edition of The Complete Book of Trusts offers a comprehensive overview that includes essential details on how you can best use trusts to meet the goals of your particular choice.

Covering 50 different types of trusts --including charitable remainder, credit shelter, and revocable living --this complete reference provides the guidance you need to determine which are the right trusts for you. Then, this indispensable resource takes you step by step through the entire process of setting up, managing, and terminating trusts. Along with an easy-to-understand introduction to trust basics, including provisions, trustee designations, and grantor's rights, here's where you'll find: Important details on the new Disclaimer Credit Shelter Trust Expanded coverage of Qualified Personal Residence Trusts (QPRTs), Grantor Retained Annuity Trusts (GRATs), Grantor Retained UniTrusts (GRUTs) Vital information on the tax consequences of trusts Clear descriptions of trusts for specific types of assets And much more!

See all Editorial Reviews

Product Details

• Paperback: 320 pages
• Publisher: Wiley; 2 edition (August 25, 1997)
• Language: English
• ISBN-10: 0471170445
• ISBN-13: 978-0471170440
• Product Dimensions: 10.7 x 8.3 x 1 inches
• Shipping Weight: 1.6 pounds
• Average Customer Review: 4.2 out of 5 stars  See all reviews (12 customer reviews)
• Amazon Best Sellers Rank: #2,123,103 in Books (See Top 100 in Books)

More About the Author

Martin M. Shenkman, Esq.
Martin M. Shenkman, P.C.
P.O. Box 1300
Tenafly, New Jersey 07670
201-845-8400
[e-mail]


BIOGRAPHY

Martin M. Shenkman, CPA, MBA, JD, is an attorney in Paramus, New Jersey and New York City. His practice concentrates on estate planning and administration, tax planning, and corporate law.

Mr. Shenkman was included in Worth Magazines top 100 attorneys in 2007, CPA Magazines Top 50 IRS practitioners in 2008, Top 40 Tax Accountants in 2009, and was the recipient of the New Jersey Bar Association's Alfred C. Clapp Award in 2008.

He is a source for numerous financial publications including Forbes, The Wall Street Journal, Fortune, Money, and The New York Times. He has appeared on numerous television shows including The Today Show, CNN, NBC Evening News, CNBC, MSNBC, and CNN-FN .

He has published 36 books and 700+ articles. His recent books include Estate Planning for People with Chronic Illness and Disabilities (Demos); Estate and Related Planning During Economic Turmoil (AICPA) and Life Cycle Planning for the CPA Practice (AICPA), The Complete Book of Trusts (Wiley), and others.

Mr. Shenkman was named by Worth Magazine as one of the Top 100 attorneys in 2007, by CPA Magazine as one of the top 40 accountants in 2008 and 2009.

He earned a BS in economics - Wharton, MBA - University of Michigan, law degree - Fordham University, and is admitted to the bar in New York, New Jersey, and Washington, D.C. He is a CPA in New Jersey, Michigan, and New York.

Customer Reviews

Most Helpful Customer Reviews

111 of 115 people found the following review helpful:

5.0 out of 5 stars The Complete Book of Trusts is Complete!, April 16, 1999

By A Customer

This review is from: The Complete Book of Trusts (Paperback)

Martin Shankman gives a very comprehensive and extremely detailed treatment of trusts in The Complete Book of Trusts. Marti gives numerous examples, suggested clauses, and pointers in how to best use trusts. Further, Marti gives the reader suggestions on how to broach certain estate planning and trust strategies subjects to one's attorney.

I must, in all fairness, say to the reader that this is not a book that will show you how to prapare your own trust. If the reader desires such a book, perhaps he/she should look elsewhere. There are quite a few books that will show the reader how to draft a legally valid living trust. I especially like the one published by Nolo Press which is available right here at amazon.com. However, if the reader would prefer to have a very broad, comprehensive, detailed and in-depth discussion of the subject of trusts, that is very readable and user-friendly, I would very highly recommend Marti Shankman's The Complete Book of Trusts without any reservation whatsoever.

In sum, The Complete Book of Trust is a great value. So, here is what I have to say: buy it; read it; and use it by bringing the subjects relevant to your own estate planning concerns, to your attorney's attention; so that you can accomplish your very own estate planning goals.

53 of 55 people found the following review helpful:

2.0 out of 5 stars Written in Legaleeze...got a better book for you, May 27, 2000

By 

A Customer - See all my reviews

This review is from: The Complete Book of Trusts (Paperback)

Read "Beyond the Grave, The Right Way and the Wrong Way of Leaving Money to Your Children" instead of this book or before you read this book. I bought both and gave up on this book after a couple chapters. It was a struggle to get through. Very dry, written like a tech manual, a real sleeper. Go read the reviews on Amazon for Condon's book before deciding which one to order. Trust me, you want the other book.

20 of 21 people found the following review helpful:

5.0 out of 5 stars Great reference book for new practitioners!, November 11, 2004

By 

EngineerOC (Orange County, CA) - See all my reviews

This review is from: The Complete Book of Trusts, 3rd Edition (Paperback)

I have only purchased this book tonight, yet not on Amazon.com. I actually went to Borders and paid full price. Reason being, I could not wait to get my hands on a reference book to help me conceptualize projects and cases that I presently deal with at work as a new estate and tax planning attorney. I hear about ABC trusts, GST trusts, Living Trusts, just to name a few, every day. Yet I don't have the slightest idea about the particular mechanics of many of these valuable estate planning and tax saving tools.

I have only begun to read this book, but so far it has impressed me with its clarity and simplicity in explaining the particulars of the different types of trusts available. It is great for someone like myself who is beginning to practice law in this area. Additionally, I would recommend this book to a law student interested in entering this field or one who is currently taking a trusts and estates course.

A word of caution, this is not a book to assist you with drafting your own trust. Although it is a good prep material with which to study up on before consulting with an attorney. In my short experience, clients with at least some knowledge of what is available to them benefit more from the time spent with lawyers and consultants who will actually draft their trusts and related documents.

I also recommend this book to people that are wary of attorneys and who are intimated by the complex jargon of the legal industry. The more one knows about what trusts are available and which may be more advantageous, the likelier they will feel confident in their estate planning documents.