The Trustees Book: A Guide to Money, Misfits, Marriages and Mismanagement

＄56 TRILLION INHERITED BY 2030MOST OF IT IN TRUST ..ARE YOU READY?Perfection is not required, but incompetence shall not be tolerated. Chapter 1The beneficiaries view trusts as handcuffs on their money. The trustee is the warden of the prison or jail cell whose permission must be sought for just about every dollar.Chapter 1Ozzie and Harriet and Ward and June Cleaver and their wonderful children dont seem to exist anymore. If they do, they all have lawyers.Chapter 2A word of caution to trustees: dont believe a self-imposed myth that your family members wont sue you, or seek your removal as trustee. They do it every day and hire lawyers like me to get it done.Chapter 3I doubt the grantor of the trust intended to make some attorney a trust beneficiary.Chapter 10Being a trustee is like being a parentdont steal from your children, have their best interests at heart, and dont pick favorites, or else they will act out, cost you your time, and harm you financially.Chapter 10

Founder of the Pankauski Law Firm PLLC, a boutique trust and estate firm, Palm Beach trust lawyer John Pankauski, www.johnpankauski.com, has authored a first-ever, one-of-a-kind, plain-English, book on an individual serving as a trustee. With real life accounts and straight talk, without the legal mumbo jumbo, he describes family wealth and family fights, trust administration and prudent investing. Second and third wives and husbands? Misfits and mistresses? Get valuable insight and advice from a pro who has been in the board rooms of Palm Beach trust companies and in the courtroom fighting over millions in family wealth and finance. Through his trials and tribulations, maddening hours, and mediations, Pankauski now shares with you his battle-drawn experiences, reflections, and advice on what it means to be an individual serving as a trustee of a family trust. One-of-a-kind perspective and guidance, for trusts from ＄100,000 or ＄100 Million. Written in 10 concise chapters, Pankauski explains the difference between being a good trustee and a bad trustee and the liability which all trustees faceand how to minimize and avoid it.