Book Review of Entrusted by York and Howell
As an avid reader with a keen interest in personal finance and estate planning, I was immediately drawn to Entrusted by York and Howell. The subject matter intrigued me because I believe that financial wealth is only one piece of the puzzle when it comes to legacy building. With something as important as estate planning, it’s essential to take a holistic view, which the book promises to deliver.
In the book, the authors outline the Entrusted Planning process, emphasizing that wealth encompasses far more than just money. They argue that most estate planners focus solely on financial assets, creating linear, shortsighted plans that often lead to inter-generational conflicts. The concept of treating wealth as a multifaceted entity—comprising of relational, intellectual, and spiritual dimensions—was particularly enlightening for me. This perspective aligns beautifully with the idea that effective estate planning must include preparing heirs to be responsible stewards of this wealth, not just recipients of it.
One of the standout features of this book is its straightforward and conversational writing style. Both engaging and informative, the authors succeed in breaking down complex issues into language that is easily digestible. I found myself nodding along, especially when Coachwheel noted that the book is a "game changer," merging technical knowledge with relatable insights. The conversational tone made it feel less like a textbook and more like a discussion with a knowledgeable friend, which I appreciated immensely.
Moreover, the book captures seven core disciplines that successful families across generations have consistently embraced. I found this framework to be both practical and inspiring. For instance, the idea that "Entrusted families prepare the family for the wealth and not just the wealth for the family" resonated with me. It challenges the prevailing idea that simply passing down money is sufficient. Instead, the authors advocate for cultivating the character, values, and skills that will enable heirs to make thoughtful decisions.
However, the book is not devoid of drawbacks. While many readers laud its insightful content, I found that some areas lacked depth. One reviewer, although rating it highly, expressed a desire for more comprehensive guidance on implementing the principles discussed. This sentiment echoes my own feelings; the book opened a pathway but didn’t always provide the roadmap on how to traverse it.
Additionally, some readers noted that while the book is thought-provoking, it sometimes leaves you feeling like you wish there was more practical takeaway or actionable methods for applying its principles. In a world driven by financial metrics, a little more focus on specific strategies could have enhanced the overall experience.
That said, I felt the authors achieved their primary goal of encouraging families to think beyond just monetary wealth. They introduce concepts like education, personal character, homeownership, entrepreneurship, and charitable service as central to a lasting legacy—a refreshing and vital viewpoint.
On the whole, Entrusted met most of my expectations. The book is a compelling read that provides a new perspective on estate planning while challenging the reader to dig deeper into the concept of wealth. It encourages families to create a legacy rooted in values and education rather than mere financial gain.
As I closed the book, I felt inspired not just to plan for my own financial future, but to consider the broader implications of wealth—what it means for my family and how best to prepare them for stewardship.
If you’re someone involved in estate planning or are merely curious about how to enhance your legacy across generations, I wholeheartedly recommend Entrusted. Despite its few shortcomings, the insights this book offers are invaluable, making it a worthy addition to anyone’s reading list in this field.
Ultimately, I rate Entrusted a solid 4.5 out of 5. It challenges conventional wisdom and encourages readers to foster a rich legacy that transcends mere financial assets.