Synopses & Reviews
Synopsis
Everyone needs a will sooner, rather than later. For all those who've put off writing this important document, here's the solution. This slim, helpful book outlines how to:
- determine beneficiaries
- deal with property
- choose an executor
- avoid probate
- prepare a draft of the will.
This handy book is also stuffed with new information on estate planning, the Uniform Transfers to Minors Act, Durable Powers of Attorney for Health Care and for Finances, and common law marriage. Includes sample wills and is good in all states except Louisiana.
Table of Contents
How this book works. Who can use a basic will? ; About probate and taxes ; Can you safely use this book? ; Real life ; Considerations for parents of minor children ; Legal overview ; How to proceed -- Your beneficiaries. Categories of beneficiaries ; Shared gifts ; Survivorship period ; Simultaneous death ; Imposing limits on your gifts ; Disinheritance ; If you want to explain your decisions -- Property ownership. Basic rules for giving away property ; Taking stock of your property ; The beneficiary worksheet ; Types of property ownership ; Marital property -- Children. Naming a personal guardian ; Managing minors' property ; Other concerns about children -- Your executor. Choosing your executor ; No bond required -- Estate planning. What is probate? ; Avoiding probate ; Reducing federal estate taxes ; Second marriages ; Other property control matters ; Incapacity -- Preparing the draft of your will. Determine your family situation ; How to proceed if you have children (or plan to leave property to young people) ; How to proceed if you're not a parent and aren't leaving property of significant value to young people ; Instructions for married person using form 1 ; Instructions for parents (or people leaving property to children) using forms 3 or 5 ; Instructions for people who don't have children -- Preparing your final will. Getting your draft ready for typing ; Word process or type your will ; Signing and witnessing your will ; Self-proving affidavits ; Sample completed will, including self-proving affidavid ; Letters of explanation -- Storing and copying your will. Storing your will ; Making copies of your will -- Changing or revoking your will. When to make a new will ; Making simple changes in your will by codicil ; Revoking your will -- Going further. Other will-writing options ; For general information on estate planning ; Probate-avoiding living trusts ; Creating an "AB" or marital life estate trust for estate tax savings ; Creating documents for healthcare ; Creating a durable power of attorney for finances ; Using lawyers -- Appendix.