AS OF AUGUST 2024 WE HAVE NEW WAYS TO PAY FOR OUR BOOKS.

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The U.S. Constitution is set up under Common-Law; the information given on the passingbucks.com website and in The Art of Passing the Buck Volumes I and II, is applicable to all countries set up under Common-Law.

[For a brief intro to Common Law Trusts, we suggest the article by Gwenn Wycoff.]

Introduction

The subject of Trusts is complex and mysterious. An ancient system used to pass wealth has gone through a metamorphosis that only time can produce. Despite this, though, the basics of setting up assets for Beneficiaries remains. Keeping this one thought in mind, the variety of ways to do this becomes simpler, and the complexity drops away. We realize that some of even the rudimentary legal jargon is initially confusing.

In reality, the average person with a high school education can understand the basic concept of a Trust. Within this knowledge is the art of wealth build-up and management–a subject that everyone should know, at least at a working level.

Those matters considered technical, or that seem more suitable for professionals, appear in Volume II where we have included court cases and the more intricate details of Trust structuring. Other matters, some controversial, are in the Appendices.

So, even if you feel inadequate to the task of sorting out wealth and inheritance, feel free to charge right in. We wrote this book for you.

Taking Action

Even to those fully familiar with the legal protocols, Trusts and Trustees can be as foreign as falling into the middle of a Brazilian jungle. Just because someone is a defense attorney, or specializes in real estate law, does not mean he or she is familiar with Trust documentation and procedures. Therefore, no one is to assume that a law degree creates a brilliant Trustee. Again, as pointed out in Volume I of The Art of Passing the Buck, all Trustees need mentors and teachers. 

Although a lawyer has a distinct advantage when it comes to dealing with the courts, he or she is not necessarily skillful with investments, accounting or handling Beneficiaries. This is why those with a good business sense, are just as qualified to become Trustees.