Happily, today enlightened advisers have an armamentarium of planning…

Happily, today enlightened advisers have an armamentarium of planning antidotes to protect beneficiaries and trustees against failed trust governance. Part Three of this book touched on many of them. One in particular is worth recalling here. As I discussed in chapters 10, 11, and 19, mentor-trustees working to create excellent relationships with their beneficiaries, and beneficiaries working to become excellent beneficiaries in managing their relationships with their trustees, have real possibilities of success. It is in the good management of these relationships that the trust's purpose has a reasonable prospect of being fulfilled. As the trustees and beneficiaries begin this process of self-government, what are some of the outcomes they might consider so that the trust, whether perpetual or fixed term, will provide the greatest enhancement to its beneficiaries' lives? I suggest that both parties begin by recognizing that for each beneficiary, the following three goals (1) becoming fully self-aware and achieving personal freedom so as to be able to live an independent life, (2) achieving the fulfillment of his or her life's dreams through knowing and fulfilling his or her life's calling, and (3) being able to take full responsibility for his or her actions-are goals of high value and purpose. I worry that in a perpetual trust the beneficiaries may say, Why should I bother with becoming an excellent beneficiary and with trust governance, and do all the labor of making this relationship work, if neither I, nor my children, nor my future descendants will ever own the assets? Why should I learn to be a good steward? Why should I work, or be an apprentice, or find my calling, when I can do nothing?!

— from The Flight Plan (Purpose/Wisdom/Risk)

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