Estate Planning Basics

Title :

Author:

Clifford, Denis

Format:

Books

Language:

English

ISBN - ISSN:

9781413331493

Physical Description:

256 p. ;

First Title value, for Searching:

Estate Planning Basics

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Available:*

Library	Audience	Home Location	Material Type	Shelf Number	Status
Searching... Bracewell	Adult	Non-fiction	New books	346.73052 C637 12ED	Searching... Unknown
Searching... Central	Adult	Non-fiction	New books	346.73052 C637 12ED	Searching... Unknown
Searching... Library Materials Services	Adult	Being acquired by the library	Item on order	XX(2275931.2)	Searching... Unknown
Searching... Looscan	Adult	Non-fiction	New books	346.73052 C637 12ED	Searching... Unknown
Searching... Ring	Adult	Non-fiction	New books	346.73052 C637 12ED	Searching... Unknown

Get the need-to-know basics about wills, trusts, avoiding probate, and planning for incapacity with Estate Planning Basics . This book lays out your options in plain English, guiding you to the right estate plan for you and your family.

Learn how to:

* make a will or living trust

* name a guardian for your children

* avoid probate

* choose an executor

* use durable powers of attorney, and

* prepare a health care directive.

The 12th edition is completely updated to reflect the latest information about estate planning.

Author Notes

Denis Clifford practiced estate planning law in Berkeley, California. He authored several Nolo books, including Plan Your Estate and Make Your Own Living Trust.

Your Estate Planning Legal Companion	1
1 A First Look at Estate Planning	3
Evaluating Your Personal Situation	7
Your Property	7
Your Beneficiaries	11
Providing for Young Children	13
Planning for Incapacity	14
Transferring Your Property After You Die	15
Estate Taxes	16
Making Changes	16
More Estate Planning Resources From Nolo	17
2 Your Beneficiaries	21
Direct Beneficiaries	22
Alternate Beneficiaries	24
Beneficiary Complexities	26
Disinheritance	35
Talking It Over	37
3 Children	39
Naming Someone to Care for Young Children	40
Naming Someone to Manage Your Child's Property	44
Choosing How Your Children's Property Should Be Managed	46
Naming Children as Beneficiaries of Life Insurance	52
Tax-Saving Accounts	53
Leaving Property to Adult Children	56
Leaving Property to Other People's Children	57
4 Planning for Incapacity: Medical Care and Finances	59
Medical Decisions	60
Financial Decisions	71
5 Wills	77
Will Requirements	78
Types of Wills	83
Probate	86
Using a Will in Your Estate Planning	88
Preparing Your Will	92
Challenges to Your Will	93
6 Living Trusts	95
How a Living Trust Works	97
Do You Need a Living Trust?	100
Living Trusts and Taxes	101
Living Trusts and Young Children	102
Shared Living Trusts for Couples	102
Making Key Decisions About Your Living Trust	103
Preparing Your Living Trust Documents	111
7 Other Ways to Avoid Probate	115
Pay-on-Death Bank Accounts	116
Transfer on Death Accounts for Securities	117
Transfer on Death Car Registration	118
Transfer on Death Deeds for Real Estate	118
Joint Tenancy	119
Tenancy by the Entirety	123
Community Property With Right of Survivorship	125
Community Property Agreements	126
Simplified Probate Proceedings	126
Life Insurance	127
Gifts	128
8 Retirement Plans as Estate Planning Devices	129
Individual Retirement Programs	131
Pensions	133
Choosing Beneficiaries for Individual Retirement Programs	134
Retirement Plans and Taxes	135
9 Estate Tax	137
Federal Estate Tax Exemptions	139
State Estate and Inheritance Tax	142
Gift Tax	143
The Federal Income-Tax Basis of Inherited Property	146
10 Reducing Federal Estate Taxes	151
Making Gifts During Life	152
Disclaimer Trusts	154
Tax-Saving Irrevocable Trusts	157
Disclaiming Gifts	162
11 Property Control Trusts	163
Marital Property Control Trusts for Second or Subsequent Marriages	164
Special Needs Trusts for People With Disabilities	168
Education Trusts	170
Spendthrift Trusts	172
Flexible Trusts	173
12 Lawyers	175
Will You Need a Lawyer?	176
Working With a Lawyer	178
Doing Your Own Research	182
13 Finalizing Your Estate Plan	183
Storing Your Documents	184
Sharing Your Documents	185
Revising Your Documents	185
Appendix
Some Sample Estate Plans	189
Leslie and Martin: A Couple in Their Late 50s	190
Michelle: A Single Mother in Her 40s	192
Randy and Lisa: A Prosperous Older Couple	193
Gail and Nick: A Young Married Couple	194
Richard: A Single Man	195
Clemencia and Pierre: A Couple in Their Second Marriage	196
Index	199

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Author Notes

Table of Contents