The Complete Book of Trusts, 3rd Edition

Trusts are powerful and flexible financial planning tools, and this new edition of The Complete Book of Trusts covers everything you need to know to protect your hard-earned assets from taxes, creditors, and more. This updated Third Edition provides all the latest information on trusts, addressing recent changes due to economic growth and the Tax Relief Reconciliation Act of 2001 in such areas as transferring assets, distribution of income, gift and estate tax rules, and many others.

Along with in-depth examinations of sixty different types of trusts, this book also shows you how to:

• Set up a trust to manage assets in the event of disability or death
• Avoid probate
• Minimize or eliminate estate and other transfer taxes
• Financially protect loved ones
• And more

The Complete Book of Trusts, Third Edition is an invaluable resource for anyone with significant assets to protect.

I must, in all fairness, say to the reader that this is not a book that will show you how to prapare your own trust. If the reader desires such a book, perhaps he/she should look elsewhere. There are quite a few books that will show the reader how to draft a legally valid living trust. I especially like the one published by Nolo Press which is available right here at amazon.com. However, if the reader would prefer to have a very broad, comprehensive, detailed and in-depth discussion of the subject of trusts, that is very readable and user-friendly, I would very highly recommend Marti Shankman's The Complete Book of Trusts without any reservation whatsoever.

In sum, The Complete Book of Trust is a great value. So, here is what I have to say: buy it; read it; and use it by bringing the subjects relevant to your own estate planning concerns, to your attorney's attention; so that you can accomplish your very own estate planning goals.


Great reference book for new practitioners!   November 12, 2004
Diane M. Huliganga (Newport Beach, CA)
17 out of 18 found this review helpful

I have only purchased this book tonight, yet not on Amazon.com. I actually went to Borders and paid full price. Reason being, I could not wait to get my hands on a reference book to help me conceptualize projects and cases that I presently deal with at work as a new estate and tax planning attorney. I hear about ABC trusts, GST trusts, Living Trusts, just to name a few, every day. Yet I don't have the slightest idea about the particular mechanics of many of these valuable estate planning and tax saving tools.

I have only begun to read this book, but so far it has impressed me with its clarity and simplicity in explaining the particulars of the different types of trusts available. It is great for someone like myself who is beginning to practice law in this area. Additionally, I would recommend this book to a law student interested in entering this field or one who is currently taking a trusts and estates course.

A word of caution, this is not a book to assist you with drafting your own trust. Although it is a good prep material with which to study up on before consulting with an attorney. In my short experience, clients with at least some knowledge of what is available to them benefit more from the time spent with lawyers and consultants who will actually draft their trusts and related documents.

I also recommend this book to people that are wary of attorneys and who are intimated by the complex jargon of the legal industry. The more one knows about what trusts are available and which may be more advantageous, the likelier they will feel confident in their estate planning documents.


Excellent!!!   July 16, 1999
29 out of 34 found this review helpful

The Cmplete Book of Trusts is an excellent reference for general knowledge about a very cmplex subject! I highly recommend this book to anyone with a need to know. This author has managed to take the "legal" language and break it down into understandable English!


An Excellent Primer on Trusts   September 29, 2006
James Lange (Pittsburgh, PA)
7 out of 7 found this review helpful


Martin Shenkman has written an excellent primer on trusts. He helps the reader understand which assets should be transferred to a trust, what the legalities are, the limitations of trusts, and most importantly, how structuring trusts effectively can assist with saving taxes and assuring your family is taken care of in the manner you desire. Be advised, this is not a book that will help you write your own trusts. Shenkeman is clear that effective planning really requires coordination among the financial professionals that you trust--your attorney, CPA, financial planner, insurance broker etc. However, if you are thinking about setting up trusts and you read this book, you will be positioned to have an intelligent and productive conversation with your financial team members. You will be part of your team, part of the decision making process, and not a passive bystander to the planning that affects your life and the life of those you love.

I would also say that The Complete Book of Trusts, is a great book for any professional who is working in this area. His observations, insights and specific analysis make his book an excellent reference tool. It is definitely a book for your library.

James Lange, CPA/Attorney and author of Retire Secure! Pay Taxes Later: The Key to Making Your Money Last as Long as You Do


Excellent Detailed Overview of Trusts   April 18, 2008
jbsocal (So. Calif.)
3 out of 3 found this review helpful

The book provides sufficient detail of a number of trusts and does so in a very readable manner. That is, the text is clear and well written. Although the book is an overview of trusts, it does a good job of providing sufficient detail of each trust discussed so as to be useful rather than being just a recognition that certain trusts exist. For instance, it details differences between simple and complex trusts without getting overly technical or legal, but provides enough information so one could make such a determination. The book discusses transferring assets to a trust, Grantor's and Fiduciary's rights and powers, Distributions, Tax Consequences of Trusts, explanations of different types of Trusts, and Trust termination.