Format:
1 Online-Ressource (419 Seiten)
Edition:
2nd ed
ISBN:
9781119832195
Note:
Description based on publisher supplied metadata and other sources
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Intro -- Title Page -- Copyright Page -- Table of Contents -- Introduction -- About This Book -- A Special Note for Residents of Louisiana -- Conventions Used in This Book -- Foolish Assumptions -- Icons Used In This Book -- Beyond the Book -- Where to Go from Here -- Part 1 Getting Started with Your Will or Trust -- Chapter 1 Ensuring That Your Last Wishes Are Honored -- The Good, the Bad, and the Ugly: What Can Happen When You Don't Plan Your Estate -- Reaping the Benefits of Planning Your Estate -- Planning for your care while you're alive -- Ensuring that your assets go where you want -- Making things easier for your family -- Looking Out for Common Pitfalls -- Benefits and dangers of jointly titling real estate, property, and bank accounts -- Benefits and dangers of having your assets "pay or transfer on death" -- Benefits and dangers of life estates -- Danger of subjecting an asset to Medicaid spend-down rules -- Potential for increased tax exposure -- Realizing What Happens If You Don't Have an Estate Plan -- Following the laws of intestate succession -- Determining the custodian of your minor children -- Creating Your Will or Trust -- Deciding who should create it -- Understanding the process -- Thinking about your kids, money, life insurance, and more -- Telling Your Family about Your Estate Plan -- Chapter 2 Making Crucial Decisions -- Going It Alone -- Are you comfortable doing it yourself? -- How complicated is your estate? -- Choosing a Will or Trust for Your Estate -- What a will can do for you -- What a trust can do for you -- You may benefit from having both -- Going with a Pro -- How lawyers and accountants can help -- Do you save money in the long haul? -- Working with a Professional -- Hiring a lawyer -- Meeting with your lawyer -- Reviewing and executing the documents -- Taking the final steps -- Safeguarding Your Estate Plan
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The problem of the disappearing document -- Storing your will or trust -- Registration of wills and trusts -- Chapter 3 Gathering Per tinent Information -- Asking Yourself Some Basic Questions -- Identifying Your Assets -- Real estate -- Personal property -- Titled personal property -- Savings -- Investments -- Insurance policies and annuities -- Retirement savings -- Pensions -- Considering Community and Jointly Owned Property -- Valuing Your Property -- Chapter 4 Planning Your Bequests -- Calculating Your Assets -- Determining Your Intended Heirs and Beneficiaries -- Individuals -- Institutions or charities -- Other bequests -- Thinking about Your Family Circumstances -- Talking to your family -- Jealousy and rivalry -- Pressure from your family -- Property That Pays or Transfers on Death -- Estate Planning for Second Families -- Giving your new spouse a life estate -- Using trusts to hold your assets -- More tools to consider -- Estate Planning for Your Business -- Inheritance of your sole proprietorship -- Inheritance of your share of a business -- Appointing the People Who Will Carry Out Your Estate Plans -- Choosing your personal representative or trustee -- Choosing a successor -- Discussing your estate plan with your helpers -- Finding Professionals to Assist You -- Getting help from a lawyer -- Hiring an accountant -- Using professional trust services (institutional trustees) -- Chapter 5 Providing for Your Children and Dependents -- Choosing a Guardian -- Making the decision -- Choosing a guardian other than the noncustodial parent -- Managing Your Child's Assets -- Providing for Your Child's Needs -- Your child's education -- Your child's special needs -- Your child's financial stability -- Chapter 6 Dipping into Your Pocket: The Tax Man (and Others) -- Tallying Up Your Estate's Tax Liabilities -- Federal estate taxes - a moving target
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The generation-skipping transfer tax -- State estate taxes -- Gift taxes -- Minimizing Tax Costs and Liabilities -- Leaving your estate to your spouse -- Making gifts -- Using trusts to avoid estate taxes -- Creating a Family Limited Partnership -- Seeing the Big Picture: Tax Avoidance Should Not Dictate Your Estate Plan -- Paying Your Estate's Debts -- Medical costs and Medicaid reimbursements -- Payment of bills, loans, and mortgages -- Payment of funeral expenses -- Covering Administration Costs -- Court costs -- Legal fees -- Administrator's fees -- Trustee's fees -- Part 2 Everything You Need to Know about Wills -- Chapter 7 Writing and Signing a Will -- Deciding Whether a Will Serves Your Needs -- Simplicity often leads you to a will -- Assets not covered by a will -- Exploring the Types of Wills -- The statutory will -- The handwritten (holographic) will -- A will of your own -- Other wills -- Elements of a Will -- Who you are -- What are your assets -- Who are your beneficiaries -- What are your bequests -- Reference to a tangible personal property memorandum -- What happens with the residue (if any) of the estate -- Payment of debts by the estate -- Describing your funeral and burial wishes -- Designating a personal representative -- Designating a guardian for any minor children -- Your signature -- Executing a Valid Will -- Choosing the right witnesses -- Signing and executing your will -- Chapter 8 Navigating the Land Mines -- Identifying Common Land Mines -- Disinheriting heirs, known and unknown -- Avoiding invalidating part or all of your will -- Lashing out from beyond -- Handling simultaneous death of spouses -- Realizing Why You Must Update Your Will -- Your goals and wishes may change over time -- Your assets may change over time -- Family changes may invalidate your will
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Family changes may dramatically alter who inherits under your will -- Knowing What to Do If You Lose Your Will -- Chapter 9 When You Already Have a Will -- Reviewing and Updating Your Will -- Changes in your family circumstances -- Changes in your wishes -- Changes in your financial situation -- Changing Your Will -- Adding to your will (amendment by codicil) -- Executing a valid codicil -- Revoking Your Will -- How to revoke a will -- What to do with a revoked will -- Chapter 10 Estate Administration: What Happens in Probate Court -- Navigating Probate Court -- Discovering How Estate Size Affects Probate Procedures -- Probate for small estates -- Probate for larger estates -- Understanding the Role of the Personal Representative -- Giving notice to legal heirs -- Collecting property for distribution -- Notifying and paying creditors -- Distributing bequests -- Hiring a Lawyer -- Overseeing Probate: The Judge -- Avoiding Will Contests -- Validity -- Mental incapacity -- Undue influence -- Part 3 Trust Me! How Trusts Work -- Chapter 11 The Anatomy of a Trust -- What's a Trust and Why You Need One -- Benefiting from Trusts -- They're flexible -- You can provide for your incapacity -- You can avoid taxes -- You can avoid probate -- A trust can help protect your privacy -- Selecting a Trustee -- Choosing Your Beneficiaries -- Transferring Assets into Your Trust -- Staying in control -- Giving (or limiting) your trustee powers -- Cancelling the trust -- Distributing trust assets -- Putting Your Trust into Effect -- When the Trust Ends -- Chapter 12 Dead or Alive: Picking Your Trust -- Why So Many Choices? -- The Revocable Living Trust -- The benefits -- Possible drawbacks -- Choosing from Other Trusts -- Trusts to avoid the tax man: Asset protection trusts -- Trusts for people who can't manage money: Spendthrift trusts
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Trusts for doing good: Charitable trusts -- Trusts to avoid gift taxes: Crummey trusts -- Trusts for people who receive government benefits: Special needs trusts -- Trusts to protect your estate plan if you predecease your spouse: Bypass trusts -- Trusts where you control the trust assets -- Trusts that own life insurance: Irrevocable life insurance trusts (ILITs) -- Trusts for multiple generations: Dynasty trusts (generation-skipping trusts) -- Trusts to postpone estate taxes: Qualified terminable interest property trusts (QTIPs) -- Trusts for your pet -- Deciding Which Trust Is Right for You -- Serving your personal needs -- Serving the needs of your family -- Thinking about the tax man -- Chapter 13 When You Already Have a Trust -- Creating the Trust Isn't the End of the Story -- Transferring Assets into Your Trust -- Real estate -- Financial accounts -- Other assets -- Reviewing Your Trust -- Does the trust still serve your needs? -- Does the trust still fulfill your goals? -- Is the trust adequately funded? -- Amending Your Trust -- Restating a Trust -- Revoking a Trust -- What Happens If You Die? -- Can you avoid probate? -- Should you also have a will? -- Part 4 Carrying Out the Intent of Your Will and Trust -- Chapter 14 Planning for Your Incapacity -- Planning for Incapacity Has Many Benefits -- You avoid guardianship and conservatorship proceedings -- You get to choose who cares for you -- You ensure that your wishes are followed -- Drafting a Living Will -- Discussing your wishes -- Executing a living will -- Distributing copies of your living will -- Reviewing your living will -- Looking into Other Advance Directives -- Healthcare proxies -- Your medical advocate -- Special instructions: Your wishes for your care -- Executing a Healthcare Proxy -- Distributing copies of your healthcare proxy -- Revoking a healthcare proxy
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Designating Your Financial Powers of Attorney
Additional Edition:
Erscheint auch als Druck-Ausgabe Larson, Aaron Wills and Trusts Kit for Dummies Newark : John Wiley & Sons, Incorporated,c2021 ISBN 9781119832188
Language:
English
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