WEST PALM BEACH, FL--(Marketwired - May 19, 2015) - Family wealth guru John Pankauski, founder of the Pankauski Law Firm (www.pankauskilawfirm.com), offers a blueprint for troubleshooting family wealth transfers with his new book, "Pankauski's Trustee's Guide: 10 Steps to Family Trustee Excellence."
In his book, Pankauski makes the assumption that the reader has been asked to serve as trustee -- or has been "appointed" trustee in a trust document -- by someone he or she knows.
"Before you accept this position, it's important that you realize it's your job, as a trustee, to objectively and fairly determine who gets the money -- and who doesn't," he says. "You'll be dealing with friends and/or family, determining what they can and can't have, and you can't screw this up."
"Pankauski's Trustee's Guide" enables readers to turn to the attorney that other attorneys go to when they need help with trust issues. He guides readers through a potential minefield of legal and emotional challenges -- with a surprising mix of humor, and even a bit of irony, to keep it all interesting.
Right now, the largest transfer of wealth is happening, involving a staggering amount -- $59 trillion. That amount is projected to be passed down to heirs, charities and taxes between 2007 and 2061.
"Unfortunately, much of that wealth will not be given to beneficiaries outright," Pankauski says. "Some trusts will be competently managed. Others will be abused in a number of ways the creator of the trust had not intended."
About John Pankauski
John Pankauski, the grandson of Polish and Lithuanian immigrants, was deeply influenced by his parents -- products of the Depression and World War II who imparted their values of hard work and thrift. He studied political science at the University of Massachusetts at Amherst. He attended Suffolk University Law School in Boston, and later obtained a master's degree in law from the University of Miami School of Law's Graduate Program in estate planning. He founded the Pankauski Law Firm PLLC to create a boutique firm of highly talented professionals that restricts its practice to administration and litigation of family wealth and disputes involving wills, trusts, and estates. In addition to trying cases and handling appeals, the firm defends trustees and advises beneficiaries on their rights related to inheritances, power of attorneys, contested guardianships, investments, and family business interests.
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