Tonight I am pleased to have special guest Gwen Wycoff tonight as we discuss the basic principles of constructing and administrating a common law trust agreement.
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 of Passing the Bucks (See Link Below) 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. Tonight we will touch on some of these topics.
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