Full Description

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 money is not lost or wasted, to keep your family out of court and to keep creditors away. Let The Complete Living Trust Kit teach you all the advantages a Living Trust offers.

A Living Trust is inexpensive to create, easy to maintain and:

limits creditor claims
ensures privacy
prevents unintended disinheritance
minimizes emotional stress on family
directs timely distribution of assets
avoids probate and ancillary probate administration
permits flexibility
is difficult to contest
maintains continuation of business
controls assets during incapacity
provides a guardianship alternative
allows for continuity of asset management and income flow

Table of Contents

Using Self-Help Law Books -

Introduction -

Chapter 1: Probate:The Good, The Bad, and The Ugly -
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 -
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? -
Federal Estate Tax
Planning to Reduce Your Estate Tax Burden

Chapter 4: Living Trusts:The Nuts and Bolts -
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? -
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 -
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! -
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! -
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 -
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 -
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 -

Glossary -

Appendix A: Tax Explanations and Charts -

Appendix B: State-by-State Laws -

Appendix C: The Design of the Forms -

Appendix D: Blank Forms -

Index -

About the Author

Excerpt

Editorial Reviews

Customer Reviews

Customer Reviews: