Pro's take on Trusts' New Angles
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Pro's take on Trusts' New Angles
The Chicago Trustee Collaboratory delves deeply into the wisdom set out in the book "Trustworthy: New Angles on Trusts From Beneficiaries and Trustees"
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Using Trusts to Educate The Next Generation - VIDEO

The Chicago Trustee Collaboratory delves deeper into the practical & wise offerings of the book "Trustworthy" : point 5 out of the top 10 from this book compiled by Collaboratory.
Chicago Trustee Collaboratory's insight:

In this video, members of the Chicago Trustee Collaboratory address a few key issues around the opportunity of using a trust to both educate the next generation and promote their maturity.


This is one of the points raised by Kathy Wiseman in Chapter 2 of "Trustworthy"  - and one of 10 key points the Collaboratory identifies in the book.


The Collaboratory’s insights include:

  • Using this opportunity well is key to helping the family flourish.
  •  The family should be accepted and worked with from wherever they are at. 
  • The rule of thumb of 3 parts qualitative to 1 quantitative applies. 
  • Work with meaning, context and alignment.
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Use the Family Trust to Increase Beneficiary Self Awareness - VIDEO

The Chicago Trustee Collaboratory delves deeper into the practical and wise offerings of the book Trustworthy: point 9 out of the top 10 compiled by The Collaboratory.

Chicago Trustee Collaboratory's insight:

In this video, the Chicago Trustee Collaboratory addresses a few key issues around the two parts the author identifies of beneficiary education:  (1) surface: financial literacy and (2) deeper: self knowledge.

 

This is one of the points raised by Kathy Wiseman in Chapter 2 of "Trustworthy"  - and one of 10 key points the Collaboratory identifies in the book.

 

The Collaboratory’s insights include:

  • What is the ability of the family member to say “no” for themselves – over the fancy car - or at least think about it.  
  • And, sometimes “yes” is the right answer.
  • The natural way that some requests for distribution open into a learning experience.
  • A bridge in: Thinking about the “why”.  An assessment of the situation and the context.
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Accessing the Family as an Integrated Emotional Unit through the Trust - VIDEO

The Chicago Trustee Collaboratory delves deeper into the practical and wise offerings of the book Trustworthy: point 6 out of the top 10 compiled by The Collaboratory.

Chicago Trustee Collaboratory's insight:

In this video, the Chicago Trustee Collaboratory addresses a few key issues around the concept of thinking of the family as an integrated emotion unit.


This is one of the points raised by Kathy Wiseman in Chapter 2 of "Trustworthy"  - and one of 10 key points the Collaboratory identifies in the book.


The Collaboratory’s insights include:

  • This is a “must” concept to be accessed as soon as possible. 
  • It helps the family work together and do what what’s best.
  • Helps those working with the family to understand that their non-rational reactions. 
  • Request alignment over agreement in governance.
  • Communication and acceptance is key. Consider using thinking circles.
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5 Challenges to Successful Administration of the Family Trust - VIDEO

The Chicago Trustee Collaboratory delves deeper into the practical and wise offerings of the book Trustworthy: point 10 out of the top 10 compiled by The Collaboratory.

Chicago Trustee Collaboratory's insight:

In this video, the Chicago Trustee Collaboratory addresses a few key issues around the author’s list of four challenges to trust administration:

  1. The desire to control;
  2. Ignorance of the family;
  3. Equating difference with being wrong;
  4. Equating ending a relationship with resolution.

 

This is one of the points raised by Kathy Wiseman in Chapter 2 of "Trustworthy"  - and one of 10 key points the Collaboratory identifies in the book.

 

The Collaboratory’s insights include:

  • Ignorance of the family includes not knowing who they are for each other and also their values.
  • Add a fifth challenge: inadequate communication.   
  • There’s an opportunity for the trustee to fill in the family’s communication gap, including alignment around goals.
  • Acknowledge the difficulty in trying to come to resolution while maintaining the relationship.
  • Virtual impossibility of keeping a family together that doesn’t want to stay together.
  • Challenge of making the family member serving as trustee to understand this.
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Leveraging the Trustee to Connect Family Members - VIDEO

The Chicago Trustee Collaboratory delves deeper into the practical and wise offerings of the book Trustworthy: point 7 out of the top 10 compiled by The Collaboratory.

Chicago Trustee Collaboratory's insight:

In this video, the Chicago Trustee Collaboratory addresses a few key issues around the benefits of a triangle family system. 

 

This is one of the points raised by Kathy Wiseman in Chapter 2 of "Trustworthy"  - and one of 10 key points the Collaboratory identifies in the book.


The Collaboratory’s insights include:

  • This is NOT the same as the concept of triangulation.
  • This recognizes the trustee as spark-plug to help ignite good things in the family.
  • Goal of the trustee: to bring the beneficiary from dependence to interdependence to independence.
  • Important to accept and work with the beneficiaries from where they are at.
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