Estate & Trust Administration

Inigo_Montoya

can anybody recommend a good book(s) about estate & trust administration for executors ?

thanks in advance for any replies

Keep_pedalling

What sort of trusts?

Yorkshireman99

Inigo_Montoya wrote: »

can anybody recommend a good book(s) about estate & trust administration for executors ?

thanks in advance for any replies

This is one of the most difficult areas of law to master. Books on the topic do not come cheap. You need an good grounding in law basics first.

Inigo_Montoya

I think (not 100%) theres a couple of Discretionary trusts - one for the benefit of my stepmother & one for my sister - both administered by myself & my stepmother

theres another trust for the house which may also be a Discretionary trust ?

I will have to look at the will to make sure

i dont care how complex it is - i will spend whatever time I need on it to do it myself - Im not trusting it to a solicitor or fininacial advisor

Yorkshireman99

Inigo_Montoya wrote: »

I think (not 100%) theres a couple of Discretionary trusts - one for the benefit of my stepmother & one for my sister - both administered by myself & my stepmother

theres another trust for the house which may also be a Discretionary trust ?

I will have to look at the will to make sure

i dont care how complex it is - i will spend whatever time I need on it to do it myself - Im not trusting it to a solicitor or fininacial advisor

Nobody can tell. The wording of the will is paramount.

Inigo_Montoya

Im still looking for book recommendations

Brynsam

Inigo_Montoya wrote: »

i dont care how complex it is - i will spend whatever time I need on it to do it myself - Im not trusting it to a solicitor or fininacial advisor

So you're not trusting it to a qualified and experienced professional; you'd prefer to use someone who hasn't a clue where to start and doesn't even know where to find information? Sorry if that sounds harsh, but that is precisely what you are doing. At least get some professional help to assist you in your amateur endeavours - if you act as an executor, you have full personal liability, so start with proper insurance.

Yorkshireman99

Brynsam wrote: »

So you're not trusting it to a qualified and experienced professional; you'd prefer to use someone who hasn't a clue where to start and doesn't even know where to find information? Sorry if that sounds harsh, but that is precisely what you are doing. At least get some professional help to assist you in your amateur endeavours - if you act as an executor, you have full personal liability, so start with proper insurance.

Absolutely spot on! An inexperienced amateur is guaranteed to get it wrong without professional help.

Inigo_Montoya

so i ask for some book recommendations & all I get is replies about how I need professional help instead

work in the law by any chance ?

Yorkshireman99

Inigo_Montoya wrote: »

so i ask for some book recommendations & all I get is replies about how I need professional help instead

work in the law by any chance ?

No I don.t, like most people on here I have a long history of more than forty years, interest in wills and helping people to deal with the consequences of bereavement. None of us would expect to replace paid for, professional, advice but in many cases we can help. Making snide remarks and implying bad faith in posters on here will get you nowhere. Let me spell it out once more. Before you try to understand trust law you will need a basic grounding in legal principles on a full time course of at least a year. It simply is not practical to start with a trust law textbook. Most fully qualified solicitors who want to practice in trust law study and qualify as STEP members first. By all means post the text of the trust documents but you may well find the answers beyond amateurs.

Brynsam

Inigo_Montoya wrote: »

Im still looking for book recommendations

Check the reading list for a law degree and a legal practice course. Should give you plenty of reading matter, but the problem is you are unlikely to be able to apply it correctly without some informed help and guidance - but if that's the way you want to go, it's a free world. Best of luck.