Teach yourself estate planning in 24 hours
Author: LYMAN J.D. CFP KEITHLanguage: Anglais
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432 p. · Paperback
Alpha Teach Yourself Estate Planning in 24 Hours covers every aspect of the estate-planning process, with a focus on tools readers can use to preserve their assets, minimize taxes, and ensure a smooth transfer of property. The book will cover: reasons for proper planning understanding types of asset ownership creating and changing wills setting up trusts granting power of attorney establishing health care directives insurance planning minimizing inheritance and estate taxes avoiding probate, and gift planning.
I.Understanding the Basics.Hour 1.The Estate Planning Process.
Why Plan? What Is an Estate Plan? The Estate Planning Process. Estate Planning: The Failure to Plan. Estate Planning: Determining Your Need. Hour's Up!Hour 2.Inheritance and the Laws of Intestate Succession.
The Nature of Property Ownership. Modern Inheritance. Per Stirpes and Per Capita. Hour's Up!Hour 3.What Is an Estate?
Different Types of Property. Probate and Non-Probate Estates Compared. Hour's Up!Hour 4.Defining Types of Assets.
Understanding Contractual Assets. Community Property. Hour's Up!
II.UNDERSTANDING TAXES.Hour 5.Income Taxes and Inheritance Taxes.
Blindsided by Tax Deferral. The Decedent's Final Return. The Fiduciary Taxes. Allowable Deductions. Inheritance Taxes vs. Estate Taxes. Avoiding Inheritance Taxes. Hour's Up!Hour 6.Federal Estate Taxes.
The Gift Tax. Estate Taxes vs. Inheritance Taxes. What to Include in the Gross Estate. Special Valuations. Understanding Deductions. Figuring Tax Rates. How the Unified Credit Works. Hour's Up!
III.ADMINISTERING ESTATES.Hour 7.Dealing with Lifetime Issues.
Legal Considerations. Types of Guardianships. Problems with Guardianships. Bypassing the Guardianship Process. Hour's Up!Hour 8.Probate.
History of Probate. Probate Property. Functions of Probate. Alternate Probate Procedures. Advantages of Probate Administration. Disadvantages of Probate Administration. Hour's Up!
IV.USING THE PRIMARY ESTATE PLANNING TOOLS.Hour 9.Wills.
Types of Wills. How Do Wills Work? Important Will Provisions. Revocation of Wills. Amending the Will. Updating Your Will. What a Will Can and Cannot Do for You. Wills of the Famous. Hour's Up!Hour 10.Revocable Living Trusts.
What Is a Trust? What Is a Living Trust? The Mechanics of a Trust. Comparing Wills and Trusts. Execution Requirements. Important Trust Provisions. Issues of Institutional Trustees. Designation of Co-Trustees. Trustee Provisions. Provisions for Revocation, Amendment, and Transfer. Further Thoughts on Incapacity. Protecting the Trust. Common Myths Concerning Living Trusts. Hour's Up!Hour 11.Wills and Trusts: Important Provisions.
Paying Back Debt. Disinheritance. Identification of Beneficiaries. Specific Gifts. Distribution Provisions. Hour's Up!Hour 12.Powers of Attorney, Health Care Representative Appointments, and Living Wills.
Requirements for Execution. Health Care Representative Appointment. Living Wills. Hour's Up!
V.SPECIAL ASSETS.Hour 13.Life Insurance.
Life Insurance Policies A Closer Look. Whole Life Insurance. Universal Life Insurance. Variable Life Insurance. Variable Universal Life Insurance. Survivorship Life Insurance. First to Die Life Insurance. Taxation of Death Benefits. The Value of Life Insurance. Hour's Up!Hour 14.Retirement Plans.
Taxability of Retirement Accounts. Non-Qualified Plans. Qualified Plans for Individuals. Qualified Plans for Businesses. Penalty-Free Distributions. Minimum Required Distributions. Spousal Rollovers. Hour's Up!Hour 15.Business Entities.
Sole Proprietorship. The General Partnership. The Limited Partnership. The Corporation. Some Other Business Entities. Hour's Up!
VI.TAX SAVING TECHNIQUES.Hour 16.Credit Shelter Trusts.