How to Plan and Settle Estates

This up-to-date, thorough, and authoritative guide clearly explains all of the complexities of planning and administering an estate. From wills, trusts, and powers of attorney to health-care directives and probate, everything you need to know is presented in an accessible, friendly style. This indispensable tool provides readers with: • A step-by-step planning process • In-depth coverage of Federal tax issues • Helpful checklists • Real-life examples • An extensive glossary of terms • Sample forms and documents How to Plan and Settle Estates is an invaluable resource for protecting loved ones, saving time and money, and reducing stress for anyone setting up or handling an estate. Allworth Press, an imprint of Skyhorse Publishing, publishes a broad range of books on the visual and performing arts, with emphasis on the business of art. Our titles cover subjects such as graphic design, theater, branding, fine art, photography, interior design, writing, acting, film, how to start careers, business and legal forms, business practices, and more. While we don't aspire to publish a New York Times bestseller or a national bestseller, we are deeply committed to quality books that help creative professionals succeed and thrive. We often publish in areas overlooked by other publishers and welcome the author whose expertise can help our audience of readers. Front Cover; Title Page; Copyright Page; Table of Contents; The American Tax Relief Act of 2012; Foreword; Key to Sources Cited; Who Needs Estate Planning?; Chapter 1: How to Plan and Settle Estates; Points to Consider; Step 1: Identify Your Property; Step 2: Establish Objectives; Step 3: Select Your Advisors; Step 4: Draft and Implement a Plan; Step 5: Review Your Estate Plan; Chapter 2: The Planning Process; Points to Consider; General Overview of Wills; Revocation and Revival; Partial Invalidity of a Will; Simultaneous Death; Capacity; Will Provisions; Executor's Duties. Checklist for WillsChapter 3: Wills; Points to Consider; General Overview of Trusts; Trust Agreements; Abusive Trust Arrangements; Trustee's Duties; Estate-Planning Trusts; Land Trusts; Checklist for Trusts; Chapter 4: TRUSTS; Points to Consider; General Overview of Living Trusts; Transferring Property to a Living Trust; Advantages of a Living Trust; Disadvantages of a Living Trust; Checklist for Living Trusts; Chapter 5: Living Trusts; Points to Consider; General Powers of Attorney; Durable Powers of Attorney for Property; Checklist for Durable Powers of Attorney for Property. Health-Care Power of AttorneyChecklist for Health-Care Power of Attorney; Chapter 6: Power of Attorney; Points to Consider; Probate; Advantages to Going through Probate; Disadvantages to Going through Probate; Checklist for Executors; The Accountant; Checklist for Accountants; Checklist for Attorneys (Independent Administration); Chapter 7: Information for Executors and Administrators; Points to Consider; Primary Residences; Individual Retirement Accounts; Gifts; Distribution from Employer Retirement Plans; Decedent Tax Forms; Income and Deductions in Respect of a Decedent. Chapter 8: Federal Income Tax IssuesPoints to Consider; Techniques to Decrease Estate Taxes; Chapter 9: Federal Estate Tax Planning; Points to Consider; Generation-Skipping Transfers; Filing Form 706: United States Estate (and Generation Skipping Transfer) Tax Return; Chapter 10: Federal Estate and Gift Tax; Points to Consider; Gift-Tax Return Filing Requirements; Gift-Tax Return Filing Date; Exclusions from the Gift Tax; Present, Terminable, and Future Interests in Property; Tax Basis of Gifts; Reporting Requirements; Stock Options; Split-Dollar Life Insurance Arrangements. Chapter 11: Gift TaxesMarriage and Divorce; Nursing Homes; Chapter 12: Marital Status, Health, and Your Estate; A Glossary; B Common Estate Acronyms; C Maximum Federal Estate and Gift Tax Exclusions and Rates; D Information Sources; E Sample Durable Power of Attorney for Property; F Sample Statutory Short-Form Power of Attorney for Health Care; G Sample Living Will; H Personal Information Checklist; I Administration Checklist; J Sample Small Estate Affidavit; K Sample Last Will and Testament; L Sample Living Trust Agreement; M State Estate and Inheritance Tax Schedule. This up-to-date, thorough, and authoritative guide clearly explains all of the complexities of planning and administering an estate. From wills, trusts, and powers of attorney to health-care directives and probate, everything you need to know is presented in an accessible, friendly style. This indispensable tool provides readers with:#x95; A step-by-step planning process#x95; In-depth coverage of Federal tax issues#x95; Helpful checklists#x95; Real-life examples#x95; An extensive glossary of terms#x95; Sample forms and documentsHow to Plan and Settle Estates is an invaluable resource for protecting loved ones, saving time and money, and reducing stress for anyone setting up or handling an estate This up-to-date, thorough, and authoritative guide clearly explains all of the complexities of planning and administering an estate. From wills, trusts, and powers of attorney to health-care directives and probate, everything you need to know is presented in an accessible, friendly style. This indispensable tool provides readers with: - A step-by-step planning process - In-depth coverage of Federal tax issues - Helpful checklists - Real-life examples - An extensive glossary of terms - Sample forms and documents __How to Plan and Settle Estates__ is an invaluable resource for protecting loved ones, saving time and money, and reducing stress for anyone setting up or handling an estate.