Giving family trustees an approachable resource to help them understand trust fund management, estate planning attorney Philip J. Ruce releases his first book. “Trustee University: The Guidebook to Best Practices for Family Trustees” covers everything from communication with beneficiaries, to hiring a team, taxation, investments, and all the necessities in between.
Minneapolis, MN -- (ReleaseWire) -- 01/23/2015 --Lending a hand to family trustees given the monumental responsibility of protecting trust assets and carrying out a grantor's wishes, attorney Philip J. Ruce releases his first book. "Trustee University: The Guidebook to Best Practices for Family Trustees" covers the day-to-day activities one needs to know in order to operate a trust fund under $1 million. Ruce, formerly a professional trustee himself and equipped with years of experience working in the financial services industry, throws his lawyerly weight into the guide. Hoping to give trustees a sense of confidence in their new trust administration duties, the book gives a basic grasp of the challenges that lie ahead.
Ruce said of the trustee guidebook, "I wrote Trustee U as a basic primer. It covers everything a family trustee needs to know to effectively manage a trust fund. Trustees can just turn to the section that deals with what they need to know and all the information is readily available. Best of all, it's not written with legalese. It's a readable, accessible guide quite literally packed with information that can put their mind at ease."
In addition to information on trust taxation, legal professionals, and investments, Trustee U contains very practical instruction. Information includes the legal duties a trustee must follow and what they need to ask every time they make a distribution to a beneficiary. The book also contains free forms to help trustees set expectations with beneficiaries so that family relationships remain intact.
Ruce adds, "I have every hope that this book will inform, encourage and relieve some of the concern trustees have. I cover common problems often found in the rigors of trust fund management and teach trustees how to spot them before they become an issue."
About Philip J. Ruce, J.D, LL.M
Philip J. Ruce is the founder of Stone Arch Law Office, PLLC based in Minneapolis, Minnesota and the author of "Trustee University: The Guidebook to Best Practices for Family Trustees". A widely-regarded estate planning attorney and adjunct professor, Ruce's research on trustee and fiduciary duties has been published at numerous universities around the country. It has also been published in the American Bar Association's legal journal for trust and probate law. Impressively, his paper on trust protectors was recently cited in a federal court case involving the use of trusts for financial fraud.
Trustee University: The Guidebook to Best Practices for Family Trustees (ArchStone Publications, LLC, 2015) is available at Amazon.com in paperback or Kindle editions.
Philip J. Ruce