Product Description
This completely up-to-date guide explains the latest strategies for using a living trust to create a flexible estate plan. The author clearly and concisely discusses the effects of The Economic Growth and Tax Relief Reconciliation Act of 2001 and the fundamentals of estate, financial, and tax planning in easy-to-understand terms, mapping out effective techniques for saving money and property, and including important subjects not covered in other books (such as estate planning for the HIV positive). Readers will learn strategies for reducing probate costs, creating flexible estate plans, and planning for disability. This valuable planning tool will make its readers more informed participants in the estate-planning process, pointing out the dangers of the “do-it-yourself” guides and reducing the risks involved in establishing a living trust. A glossary of significant legal terms is included.
Your Living Trust and Estate Plan: How to Maximize Your Family’s Assets and Protect Your Loved Ones
3 Responses
Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.
This book gives a easy to understand look into estate planning and Living Trusts. The authors point out great information about both
Rating: 4 / 5
This is a pretty good book, but like any text providing legal information, it’s quickly becoming outdated – at least with respect to the generation-skipping transfer tax system (GST).
The book lists the GST exemption as $1.1 million (which was correct waaaaay back in 2002), yet it’s currently at $2 million. In 2009, the exemption will be $3.5 million, and in 2010, the tax will be repealed. For more updated information, readers should search the Internet for “The Economic Growth and Tax Relief Reconciliation Act of 2001.” Either that, or consult an attorney (who would be familiar with such information).
If you want general information, this book is certainly worth buying used, but it’s time for a re-release.
Rating: 4 / 5
This book seemed to be written more as a reference manual than a user’s guide. It has lots of detail (probably more than I really want) on many different kinds of trusts, but it never attempts to put everything together to give you any idea how to start coming up with a comprehensive plan. I realize that I need an adviser to come up with an actual plan, but I was hoping that reading this book would give me some ideas of where to start. Unfortunately, that was not the case. It describes each tree in the forest in (sometimes excruciating) detail, but I still need a map of the forest. Ideally, I would like some examples of paths that people in different situations might take through the forest.
Rating: 2 / 5