FitzPatrick, Daniel M
-
(Article) High-wire act: exercising fiduciary discretion in an uncertain and increasingly litigious world
01.12.2019
Families with trusts understand the challenges facing trustees when beneficiaries request certain distributions. Daniel FitzPatrick, New York, who has extensive experience at many levels of trust management, including at the highest global level, explains the inner workings of trustee management of discretionary distributions. He gives three detailed case studies of what can go wrong for personal trustees. He also includes a list of support materials and helpful references. -
(Article) A tale of three families - passing on a treasured home to the next generation
01.12.2020
A great planning piece by Daniel FitzPatrick (United States) who tackles the perennial global conundrum of how to pass on a special family estate or compound. With wide experience which includes heading a global trust company, Dan has seen what works and what doesn't. In this article, he looks at three cases of passing on the family special property. In ?A tale of three families - passing on a treasured home to the next generation? Dan offers three real-life examples of the intergenerational transfer of unique properties; the first highlights some of the perils of common ownership, and the other two explore how the use of a corporate entity - in this case the limited liability company - can help avoid those difficulties. This information will prove helpful in the difficult task of passing on special family properties in a way that limits the inevitable family conflict. -
(Article) The camel and the needle - a Christian reflects on the morality of wealth
01.09.2021
A first for us - but we hope there will be more on this topic to follow. Daniel FitzPatrick explores the moral meaning of wealth from a Christian's point of view. In "The camel and the needle" he bravely tackles the Christian view that it is easier for a camel to go through the eye of a needle than it is for a rich man to enter heaven. As always, Dan writes clearly and persuasively. He opens with a comment about the current political attitude in the United States against the super wealthy - an attitude of "soak the rich". Dan, who has spent his career working with very wealthy families, writes that they are "the most caring and philanthropic people I know". Dan dissects several parables from the Bible with wit and insight. He closes by urging governments to partner with religious groups to improve the lives of everyone. He includes Margaret Thatcher's warning that, "The trouble with socialism is that eventually you run out of other people's money."