What of those who are just being introduced to trusts? Trusts are an essential part of business and financial planning life. There is little in life assurance or pensions, let alone overall wealth-preservation planning, that the subject of trusts does not impinge on. But which trust? What type of trust? Should there be an interest in possession or not? An absolute trust or should there be discretion? Who should be the trustee? Are your parents older than you are? It is not such a silly question; the listener will unearth the reason for the answer.
This is an odd work. I constantly refresh my legal studies and I have a particular interest in trusts, so this has been worthwhile. Its benefit is to lay out a lot of situations one might not have thought of, in the logic of things like estate planning and trusts, with all the twists of divorces, deaths, kids, etc. But the law is only similar to ours, built on the same themes and basic terminologies, but UK law. So in all, it was a quite useful exercise for me particularly. Running through it helped me when I stepped into an estate lawyer's office for a recent consultation; it sort of tuned my thinking to that framework. Of course these books are rightly disclaimed as no substitute for legal advice, and that applies with particular force here. But to advance a general education on this subject, it served well for me.
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