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THe Living Trust Kit: Saves Taxes, Avoid Probate, and Ensure Financial Security for Your Loved Ones Book

THe Living Trust Kit: Saves Taxes, Avoid Probate, and Ensure Financial Security for Your Loved Ones
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THe Living Trust Kit: Saves Taxes, Avoid Probate, and Ensure Financial Security for Your Loved Ones, Did you know that the government may be able to take nearly half of the assets you leave your family?Did you know that your family could have to wait to access the funds you saved for them? A Living Trust can do so much more than a will to ensure that mon, THe Living Trust Kit: Saves Taxes, Avoid Probate, and Ensure Financial Security for Your Loved Ones
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  • THe Living Trust Kit: Saves Taxes, Avoid Probate, and Ensure Financial Security for Your Loved Ones
  • Written by author An Karen Rolcik
  • Published by Sphinx Publishing, 2004/10/01
  • Did you know that the government may be able to take nearly half of the assets you leave your family?Did you know that your family could have to wait to access the funds you saved for them? A Living Trust can do so much more than a will to ensure that mon
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Using Self-Help Law Books ix
Introduction xiii
Chapter 1 Probate: The Good, The Bad, and The Ugly 1
Understanding the Probate Process
Understanding when Probate is Necessary
Property Subject to Probate
The Role of Your Will in the Probate Process
Disadvantages of Probate
Advantages of Probate
Conclusion
Chapter 2 Probate Alternatives and Beneficiary Designations: Side Stepping the Probate Process 15
Benefits of Probate Alternatives
Dangers of Probate Alternatives
Methods of Holding Title to Assets
Community Property
Transfers of Property by Contract
Gifts
Chapter 3 Estate and Inheritance Taxes: Is Uncle Sam a Beneficiary of Your Estate? 31
Federal Estate Tax
Planning to Reduce Your Estate Tax Burden
Chapter 4 Living Trusts: The Nuts and Bolts 37
Trusts
Trust Types
Parties to a Trust
Living Trust Advantages
Living Trust Disadvantages
Chapter 5 Your Assets: What Do You Have and How Much Do You Have? 51
Calculating Your Net Worth
The Worksheet
Identify Your Assets
Retirement/Employment Related Plans
Identify Your Liabilities
Calculate Your Net Worth
Net Worth Worksheet
Net Worth Summary
Personal Contacts Worksheet
Chapter 6 Creating Your Living Trust: Putting It All into Action 67
The Trustee
The Beneficiaries
Executing Your Living Trust
Amending the Living Trust
Revocation of the Living Trust
Chapter 7 Funding Your Living Trust: If You've Got It, Fund It! 85
Deciding which Property to Transfer
Title
Taxpayer Identification Number
Asset Ownership
Transferring Assets to Your Living Trust
Living Trust Recordkeeping
Chapter 8 Estate Tax and Probate Savings of Living Trusts: You Earn It, You Keep It! 95
I Love You Wills
Case Studies
Estate Tax Planning with Living Trust
Family Trust Appreciation
Guardianships-the Living Probate
Chapter 9 Ancillary Documents to Avoid Living Probate: Complete Your Planning with All the Documents You Need 105
Powers of Attorney-Guardianship Alternatives
Declaration of Guardian in Advance of Need
Designation of Guardian for Minor Children
Chapter 10 Administration of Your Living Trust after Your Death: The Final Steps 111
Obtain Death Certificates
Gather Personal Information
Contact Social Security Administration
Safe Deposit Box
Obtain Tax Identification Number for Trust
Contact Life Insurance Companies
Inventory Assets
Identify Debts of Decedent
Final Income Tax Return
Trust Income Tax Returns
Distribution of Assets to Beneficiaries
Epilogue 117
Glossary 119
Appendix A Tax Explanations and Charts 131
Appendix B State-by-State Laws 135
Appendix C The Design of the Forms 149
Appendix D Blank Forms 159
Index 353
About the Author 359


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THe Living Trust Kit: Saves Taxes, Avoid Probate, and Ensure Financial Security for Your Loved Ones, Did you know that the government may be able to take nearly half of the assets you leave your family?Did you know that your family could have to wait to access the funds you saved for them? A Living Trust can do so much more than a will to ensure that mon, THe Living Trust Kit: Saves Taxes, Avoid Probate, and Ensure Financial Security for Your Loved Ones

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THe Living Trust Kit: Saves Taxes, Avoid Probate, and Ensure Financial Security for Your Loved Ones, Did you know that the government may be able to take nearly half of the assets you leave your family?Did you know that your family could have to wait to access the funds you saved for them? A Living Trust can do so much more than a will to ensure that mon, THe Living Trust Kit: Saves Taxes, Avoid Probate, and Ensure Financial Security for Your Loved Ones

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THe Living Trust Kit: Saves Taxes, Avoid Probate, and Ensure Financial Security for Your Loved Ones, Did you know that the government may be able to take nearly half of the assets you leave your family?Did you know that your family could have to wait to access the funds you saved for them? A Living Trust can do so much more than a will to ensure that mon, THe Living Trust Kit: Saves Taxes, Avoid Probate, and Ensure Financial Security for Your Loved Ones

THe Living Trust Kit: Saves Taxes, Avoid Probate, and Ensure Financial Security for Your Loved Ones

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