Book Description
In the next few years, the world's senior generation will pass on some ten trillion dollars--more than the value of all the companies listed on today's stock exchange--to their heirs. Much of this unprecedented transfer of wealth will take the form of trusts. But the old Prudent Man Rule that trustees have followed for generations has been scrapped, and the new Prudent Investor Rule, which now applies in most states, drastically changes the way trusts must be operated. Trustees cannot hope to learn "on the job": today's investment principles and portfolio management techniques are too demanding. With Investing and Managing Trusts under the New Prudent Investor Rule, Train and Melfe show trustees how to manage trusts according to this important new Rule.
Many current and future trustees are unfamiliar with the far-reaching provisions of the new Prudent Investor Rule, which should soon govern trust investing in all fifty states. Investing and Managing Trusts under the New Prudent Investor Rule explains the investment and administrative obligations--as well as the new liberties--imposed by this stringent Rule.
John Train, an authority on building wealth, brings his deep knowledge and dry wit to this thorough guide, in collaboration with Thomas Melfe, eminent New York trusts and estates attorney. Train and Melfe also highlight the various forms of trusts and the major suitable and unsuitable types of investments, so that family trustees, as well as readers in the investment and trust business, law, and financial planning can understand the key strategic and managerial considerations.
This practical, straightforward guide--the first comprehensive discussion of the new Prudent Investor Rule for private trustees-comes complete with useful sample forms, management guidelines, checklists, and a glossary. It is an essential reference for all professional and family trustees as well as their legal and financial advisors.
Customer Reviews:
Finally a complete and easy to follow book on trusts.......1999-09-09
This is one of the few books of its type to explain all the important data points of managing trusts and investing. Its straight forward and comprehensive. This is written for lawyers and non-profressionals with an interest in this area.
This book could become the industry standard.
Book Description
Provides accountants in small and medium sized firms the tool to expand services beyond attest and compliance functions.
- Shows how to transition to other professional services that clients value.
- Provides a pro-forma business plan for mapping a three to five year plan for the transition to a successful practice.
- Positions consulting as an extension to traditional services, not just an alternative.
- Includes many real world examples of accountants who have made a successful transition to new services, discussing the challenges and the results achieved.
- Focuses on quality of life issues and how to get there.
Customer Reviews:
A truly paradigm-shifting work.......2006-05-15
Ron Baker is doing for the professional services firms what Columbus and Pythagoras did for the "Earth is Flat" proponents! "Paradigm-shifting" has become so over-used in our culture, but it is not mere hyperbole when describing this book. The work is quite thorough, implementing excerpts, quotes, and philosophies from dozens of well-respected scholars, economists, and management consultants. The work reminds me a lot of Tom Peters' seminal book, "In Search of Excellence" in the way in which the author sprinkles in so many great examples from other successful organizations and industries. In addition, he has many real-world examples (from firms around the world) of professional services firms that have successfully tranformed their practices. I whole-heartedly recommend this book to any professional who is trying to transform a professional services organization or who is wondering if there might be a more effective and profitable way to run a professional services firm.
The Essential Reference for Law Firm Leadership.......2006-02-08
I first read this book about 2 years ago. I keep it within arm's reach of my desk and refer to it often, still.
I've read one reviewer who stated that this book was the modern almanac of best business practices. I agree completely.
I run my own small law firm. We have implemented many of this book's practices with great success and profitablilty. Primary among them is fixed fee agreements. Yes, we are a law firm that has trashed its time sheets, due in large part to the inspiration and impetus of this book. And, we will never go back.
An earlier reviewer suggested that this book would be more useful for CPA's and not for lawyers. I disagree. Though I'm certain the message of this book is critical for CPA's, I think that any person in law firm leadership must read this book. I think it is particularly suited to small firms and solos who will have the ability to immediately take action in implementing these ideas and making them a reality in their practice.
However, if you are one of my competitors forget everything I said above and do not touch this book. My firm and my family will thank you.
Extremely helpful, well documented........2005-11-14
This is a very well-documented guide for any service firm. It's also very well written, very insightful and very well researched. It's real deep, complete and full of advice and wisdom from several great minds. I run a corporate reputation consulting firm in El Salvador and this is the most advice-rich book I've encountered in the last five years. I also recommend "the trusted advisor" by David Maister and specially "Managing the Profesional Service Firm" also by Maister.
Permission to Believe.......2004-12-14
The Firm of The Future coordinates both the theory and practical application of pricing concepts AND business service models in such a complelling manner that Baker & Dunn give Professional services organizations permission to believe that there is light at the end of the tunnel.
While the Firm of The Future is geared to the legal and accounting professions the message and vision is applicable to Advertising agencies, Consulting Organizations, Marketing service firms and professional service providers of all shapes and sizes.
Cost plus pricing is short sighted and intellectually flawed.The intense pressure on increasing billable hours and driving down costs is destroying the creativity and core capabilities of Professional Service companies.Baker&Dunn explain the flaws of cost plus and hourly schemes and identify a road map which outlines how to move a professional services organization and it's customers to a healthier, happier, more productive and more mutually profitable business process
A great read---Inspirational and practical
Tom Finneran
Executive Vice President
American Association of Advertising Agencies
Must reading for the professional service provider!.......2003-12-04
After reading this book, you'll need to place it alongside your desktop dictionary, Thesaruas and Ron's first book "The Professional's Guide to Value Pricing. This is how strong of an impact their message has made on me.
After reading the first two editions of Ron's book, I didn't think he would be able to improve much on the message of switching to Value Pricing. Boy, was I wrong! He and Paul Dunn have done an amazing job of getting the reader to think differently. As with the radical theme of trashing the timesheet in "The Professional's Guide to Value Pricing", they do a masterful job of convincing you why the old "Revenue Equation" must be replaced with the forward-thinking "Profit Equation". They go on to introduce other new topics not found amongst professional services firms such as developing your Intellectual, Structural and Social Capital, emphasizing effectiveness over efficiency and of course Value Pricing. As is typical of Ron's writing style, and complemented by Paul, their reasoning for making this paradigm shift is well supported and well reasoned.
I've been using practicing Value Pricing for about 5 1/2 years now and I can tell you that it works. In my own firm, I've slowly begun implementing some of their new concepts but with a new perception. I'm convinced these principles will work for me and they can for you as well.
After reading this book, you'll definitely want to keep it handy as a useful reference guide!
Book Description
The need for an understanding of accounting is now even more critical than ever for lawyers practicing in many areas including securities and corporate law and litigation. In addition, over the last several years, the Financial Accounting Standards Board has made some landmark changes in the accounting rules in areas of interest to lawyers, including the accounting for mergers and acquisitions. The Second Edition of Accounting and Finance For Lawyers includes important material on such areas as accounting for stock options and derivatives and the elimination of the pooling of interests method of accounting for acquisitions. There is a discussion of the accounting implications of the use of so-called special purpose entities. Finally, a chapter on international accounting issues reflects the increasing globalization of business and accounting. As in the First Edition, the basic building blocks of accounting are covered so that the material is accessible and useful to those with any level of accounting knowledge.
Customer Reviews:
Does its job: Teaches you accounting.......2004-12-08
After fruitlessly attempting to learn accounting from the truly awful casebook we were using in an "Accounting for Lawyers" class, I bought this book off of Amazon after hearing it made the subject approachable. I've generally been impressed by the quality of West's Nutshell series, and this one is no different. The subjects are arranged in a rational order, the book is edited well, and I understood the material after one read-through. This is a typical nutshell book- no superfluous examples or problem sets that no professor actually assigns, just straightforward doctrine. If you're taking an Accounting for Lawyers class or are a solo practicioner looking to delve into some financial statements without hiring an accountant, this should get you by just fine.
Average customer rating:
- Why should billing by the hour be "the rule"?
|
Winning Alternatives to the Billable Hour, 2nd Edition: Strategies That Work
James A. Calloway
Manufacturer: American Bar Association
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ASIN: 1590311175 |
Book Description
This practical book details the economic and client service advantages of alternative law firm billing methods, the various billing methods currently available and how to select and implement the right alernative billing method for law firms of all sizes.
Customer Reviews:
Why should billing by the hour be "the rule"?.......2006-09-05
Why do so many lawyers simply bill by the hour?
In the increasingly competitive legal market, lawyers are searching for ways to bring their clients more value. This book encourages lawyers to break out of the hourly billing rut and try a variety of value-based billing strategies.
The book discusses how clients perceive the "value" of legal services. It also suggests how lawyers can assess such value--and bill accordingly. The book sets forth fifteen alternate billing structures and, most important, highlights the pros and cons of each.
As a coach and consultant to lawyers, I particularly liked the chapter on client communication through billing. This is critical: every client communication (including a legal bill) should be treated as a rainmaking tool. Legal bills need to describe the services rendered in a way that lets the client understand and appreciate the full value received.
Lawyers will enjoy the detailed appendix and attached CD full of sample fee agreements and other client correspondence.
Book Description
Written expressly for business lawyers, this best-selling guide takes you step-by-step through the key principles of corporate finance and accounting. This Second Edition will update the title's content and provide additions to reflect post-Enron SEC and FASB rules and new rules regarding merger and acquisition accounting.
Customer Reviews:
Not Bad.......2000-04-25
May be too detailed for normal attorneys. Good use of real world examples but goes too quickly into higher level discussions. Could use a chapter or two on the fundamentals. Would recommend for beginning finance attorneys or "deal makers".
Book Description
Gilbert Law Summaries are America's best selling outlines and have set the standard for excellence since they were introduced more than thirty-five years ago. It's Gilbert's unique combination of features that makes it the one study aid you'll turn to for all of your study needs! Walk into class prepared with a comprehensive outline of the law, a concise capsule summary perfect for a quick review before class, charts of every kind, a text correlation chart so that you can match your specific reading assignment to the relevant pages in the Gilbert outline, and an index and table of cases. Ace your final exams with a step-by-step approach to attack your exam, exam tips, and sample multiple choice, true-false, and essay questions.
Book Description
Your private financial information--details about your bank accounts, stock ownership, and real estate--can now be accessed on the Internet. Anyone can find out what you own and how much you have. The Privacy Plan provides and in-depth look at the tactics and the business of the "information brokers"-a new breed of online cybersleuths who locate your accounts and financial records and sell the results to anyone who wants to know more about you.
The Privacy Plan is more than just an alarming real life story. The authors have set out a clear an direct strategy for protecting you from the dangers of these privacy intrusions.
You will learn how to hold your home, savings and business in a simple and convenient form to make what you own legally private and confidential. No one will know what you have or how much you are worth--unless you choose to tell them. And you don't have to go offshore or hide your money in a Swiss bank. Everthing can be held right where it is now--without complications or unnecessary expense.
The Privacy Plan gives you the best insider advice from the top legal experts in the field. it is your personal guide for taking back your financial privacy and protecting what you own from anyone who has no right to know your business.
Customer Reviews:
Not good enough.......2000-06-24
I have learned to be skeptical of financial privacy and asset protection books, most promise far more than they deliver--this book is no exception.
When it arrived from Amazon, my doubts began when I saw that the book was shrink wrapped. This usually means they don't want potential customers actually looking at the content in the bookstore. Also, the back cover prominently displays an internet site for the book. This Web site links you to the authors' professional Web site.
In my opinion this book is an overpriced infomercial for the authors' legal services.
The first one-third of the book is devoted to stating the obvious, that personal financial data is readily available for purchase and that our society is highly litigious. Is there anyone out there who didn't realize this?
Most of the rest of the book is devoted to an overly general discussion of various legal entities for asset protection and privacy such as corporations, family partnerships, limited liability companies, and trusts. For those who are unfamiliar with these issues, the book provides an adequate introduction to the topic. The book is 268 pages in length, but the author squanders page after page on filler, fluff and padding. Obviously, the authors want you to to go on to purchase their legal services.
In my opinion, the authors' enthusiasm for the limited liability company is a bit premature. This is a relatively new legal entity and there is not a large body of case law--especially in the complex and thorny area of asset protection. Also, there is no meaningful discussion of the all important tax implications of the choice of an LLC over that of a S or C corporation.
Despite the title, there is very little useful discussion of privacy preservation devices and there is much more emphasis on asset protection. The authors tend to overstate the protection afforded by privacy trusts and to understate the level of inconvenience that can result from their use--and there is absolutely no discussion of the costs of setting up and maintaining any of the plans they recommend.
I was particularly dismayed by one of their case studies in which they set up a privacy trust to hold title to the modest real estate and financial assets of an elderly client. In such instances, I would tend to advise conveying the residence to the person(s) she intends to bequeath the property to, while retaining a life estate to protect her interests. This would be much less expensive to set up and would have almost no maintenance costs, unlike the privacy trust.
On the plus side, the authors do a good job of warning people about offshore tax evasion schemes and other absurd internet scams.
Also, the authors overstate the benefit of keeping a low financial profile. Asset searches are quite expensive. A potential litigant who believes you have hidden assets may simply file the suit and in discovery (usually via an inexpensive interrogatory) will demand disclosure of all your interests in corporations, trust, etc.) If you perjure yourself and get caught--you're in big trouble. If you are not the big fish he thought you were, the litigant will at least try and pick up some chump change--and even the weakest of cases do have nuisance settlement value. Keeping a low profile is a great idea, but it is no panacea. What the authors call dangerous assets should be protected by some limited liability vehicle, but the choice between a corp. and an LLC is often more driven by tax implications than legal issues. Your first stop should be your accountant, not your lawyer.
While this book has some good points, it unfortunately seems to be intended to generate clients and legal fees for the authors.
I only wish the authors had written the book the title implies--a solid, detailed, practical manual on maximizing personal privacy. I believe there is a good market for such a book. There are already enough mediocre books on asset protection.
Informative and interesting for those concerned w/privacy.......1999-05-04
This book will make anyone think twice before giving out any type of personal information. There are several books written on this topic but none of them explain the issues they way Mintz and Doft do. I highly recommend it to anyone interested in protecting their privacy.
An eye opening experience, very thought provoking........1999-04-26
I found the book very interesting. We all know we have less privacy today than yesterday, but this book brings it home in a very personal way. If you have assets, this book is a must read.
Excellent advise from the top legal experts!.......1999-04-23
The Privacy Plan is the rarest find - a book that actually delivers what it promises. In a well written, clear and logical fashion the authors show how to protect financial privacy from a variety of dangerous intrustions. The authors explain in detail how others can gain access to our supposedly "private" bank and brokerage account records. That's fascinating material but most importantly, Mintz and Doft share their legal expertise and show us what strategies they use to protect the privacy of their clients. I have read other books on the topic of financial privacy and asset protection and there is nothing that comes close to the Privacy Plan. I give the Privacy Plan my highest recommendation.
Average customer rating:
- this is anoutstanding book to help build wealth!
- Simple and simplistic look at investing
- Satire and your money don't work
|
Money Secrets the Pros Don't Want You to Know: 365 Ways to Outsmart Your Banker, Broker, Insurance Agent, Car Dealer, Realator, Travel Agent, Lawyer
Stephanie Gallagher
Manufacturer: AMACOM/American Management Association
ProductGroup: Book
Binding: Paperback
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ASIN: 081447893X |
Customer Reviews:
this is anoutstanding book to help build wealth!.......1999-07-28
I've read countless other books about saving, investing and spending. This is one of the best, if not the best book so far...please try these tactics, I do. Use some of them,They work ...WELL!
Simple and simplistic look at investing.......1999-04-21
A daily task or 365 ways to save money works if you can stay focused that long. Yet, this is life and one person saying they can do it doesn't alway work for other peoples money. Specifics other than an author saying me, me, me all the time is how I have learned to invest.
Satire and your money don't work.......1999-01-16
This book is a good way to mix satire with your money. Yet, if you want real finacial information look elsewhere. If you want some simple referances this book has some redeming values. If your money is a joke to you look at this book.
Book Description
Presents in a form balancing technical accuracy with accessibility the fundamental principles of accounting and finance. Although the book is rigorous, its objective is not to train readers as accountants or financial analysts but rather to enable them to operate more effectively as professionals when issues of accounting or finance arise. Designed for use as a primary textbook for a two- or three-credit course on accounting; as the primary textbook for accounting portions of classes on business associations, corporations, and corporate finance; or as a supplementary text for such courses.
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- Investment under Uncertainty
- Land Development Calculations: Interactive Tools and Techniques for Site Planning, Analysis and Design
- Managing Operational Risk: 20 Firmwide Best Practice Strategiess
- Manias, Panics, and Crashes: A History of Financial Crises (Wiley Investment Classics)
- Mastering Value at Risk: A Step-by-Step Guide to Understanding and Applying VAR (Market Editions)
- Microeconomics: A Contemporary Introduction (with InfoTrac®)
- Microsoft Office 2003-Illustrated Projects
- Microsoft Office SharePoint Server 2007 Administrator's Companion
- MP Financial and Managerial Accounting: The Basis for Business Decisions w/ My Mentor, Net Tutor, and OLC w/ PW (Financial and Managerial Accounting)
- Operations Research: An Introduction (8th Edition)
Books Index
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The Complete Book of Trusts, 3rd Edition
Your Trustee Duties: How to Dissect a Trust Contract, Prepare Form 1041, Distribute Income and Principal to Beneficiaries, and Terminate the Trust (Series 300: Retirees & Estates)
Managing Family Trusts: Taking Control of Inherited Wealth
The Trustee's Guide An Essential Handbook for Trustees, Beneficiaries, and Advisors
Understanding Trusts and Estates
