Customer Reviews

The Complete Book of Trusts

5 star:		(9)
4 star:		(0)
3 star:		(1)
2 star:		(1)
1 star:		(1)

 

 

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.

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.

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.

The Cmplete Book of Trusts is an excellent reference for general knowledge about a very cmplex subject! I highly recommend this book to anyone with a need to know. This author has managed to take the "legal" language and break it down into understandable English!

Martin Shenkman has written an excellent primer on trusts. He helps the reader understand which assets should be transferred to a trust, what the legalities are, the limitations of trusts, and most importantly, how structuring trusts effectively can assist with saving taxes and assuring your family is taken care of in the manner you desire. Be advised, this is not a book that will help you write your own trusts. Shenkeman is clear that effective planning really requires coordination among the financial professionals that you trust--your attorney, CPA, financial planner, insurance broker etc. However, if you are thinking about setting up trusts and you read this book, you will be positioned to have an intelligent and productive conversation with your financial team members. You will be part of your team, part of the decision making process, and not a passive bystander to the planning that affects your life and the life of those you love.

I would also say that The Complete Book of Trusts, is a great book for any professional who is working in this area. His observations, insights and specific analysis make his book an excellent reference tool. It is definitely a book for your library.

James Lange, CPA/Attorney and author of Retire Secure! Pay Taxes Later: The Key to Making Your Money Last as Long as You Do

The book provides sufficient detail of a number of trusts and does so in a very readable manner. That is, the text is clear and well written. Although the book is an overview of trusts, it does a good job of providing sufficient detail of each trust discussed so as to be useful rather than being just a recognition that certain trusts exist. For instance, it details differences between simple and complex trusts without getting overly technical or legal, but provides enough information so one could make such a determination. The book discusses transferring assets to a trust, Grantor's and Fiduciary's rights and powers, Distributions, Tax Consequences of Trusts, explanations of different types of Trusts, and Trust termination.

This book had little by way of practical information. It had a lot of general information and continually emphasized the need to refer to a lawyer. This book is not for the do-it-yourself 'ers.

Yes, it is a good book and it is helpful to anyone who wants to have an insightful look at the subject of Trust. But by no means it is a "complete" book. It does touch upon various types of trusts, but for most of them the discussions are very brief and hardly point you to the direction for further study. If not for the title, probably I could give a 4-star.

For the neophyte there is no better place to start than here. Trusts are explained in simple, everyday language and there is just enough detail to make you appreciate what a vastly complicated field this is---and thus to seek qualified professional help. But this book is an essential first step for the beginner so that they can have an informed discussion with their advisor(s), and will help them avoid falling into the trap of buying some oversimplified online product or fall victim to an unscrupulous scheme that will leave your affairs in worse shape than when you started. Excellent book, and a must for anyone serious about customizing an estate plan that fits their needs.

I am a professional advisor and I found this work to be fantastic. Very easy to understand.