The Art of Passing the Buck, Vol I; Secrets of Wills and Trusts Revealed

Book excerpt: The Art of Passing the Buck offers a simple, comprehensive explanation of how Wills and Trusts work. It reveals wealth retention, management and empowerment techniques you can use to build a family dynasty. Inheritance may often degenerate into legal battles, and/or dark whisperings among relatives. Who was cared for or neglected comes to the fore when reading the Will or setting up the Trust. Sometimes, siblings battle among themselves over who gets what, while parents become distraught making the myriad decisions related to their own passing. We explain how there can be a smooth transition when both Grantors and Beneficiaries have vital information. A must read for both givers and receivers of wealth, this book also covers: the history of Trusts, Trust types, Trustees and the law, privacy, who should not have a Trust, parenting and perpetual wealth, and heirs: the favored and the flawed. Emphasis throughout is on what works in the real world, based on decades of experience.