Living Trusts for Everyone: Why a Will is Not the Way to Avoid Probate, Protect Heirs, and Settle Estates [NOOK Book]

Overview


The misconceptions surrounding the last will and testament need to be put to rest: Wills benefit lawyers. Trusts benefit you. Period. Too often lawyers sell wills to clients only to sit back and wait to sell their probate services to their client’ s heirs. Modern estate planning should utilize the Living Trust as the effective, efficient, and inexpensive alternative to a will. Living Trusts for Everyone: Why a Will is Not the Way to Avoid Probate, Protect Heirs, and Settle explains why wills are not the best way...
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Living Trusts for Everyone: Why a Will is Not the Way to Avoid Probate, Protect Heirs, and Settle Estates

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Overview


The misconceptions surrounding the last will and testament need to be put to rest: Wills benefit lawyers. Trusts benefit you. Period. Too often lawyers sell wills to clients only to sit back and wait to sell their probate services to their client’ s heirs. Modern estate planning should utilize the Living Trust as the effective, efficient, and inexpensive alternative to a will. Living Trusts for Everyone: Why a Will is Not the Way to Avoid Probate, Protect Heirs, and Settle explains why wills are not the best way to handle an estate and details the many advantages trusts have over wills in not only eliminating probate, but protecting your assets for your heirs. Anyone with minor children, disabled beneficiaries, blended families, or spendthrift heirs must have a trust to be sure the assets left behind are put to good use, and that your intentions are carried out. Lawyers may have vested interests in perpetuating the probate system, but this book will explain why legal services are not needed to do the clerical work in settling a trust after death. No legal jargon or confusing double-speak, just specific step-by-step instructions and sample form letters to settle a trust are included to take the mystery out of the process. This is not a do-it-yourself book and it doesn’t try to cram every type of trust onto its pages. Living Trusts for Everyoneexplains in specific terms what benefit a trust will have for you and gives you the tools to settle a loved one’s trust with no lawyers and no expense. For those who already have a trust, there is a list of what to look for to see if your trust is any good, or if it needs to be updated. Trust seminars are examined with warnings on what to look out for in setting up your trust. Everyone who cares about what happens to their assets at death should read Living Trusts for Everyone: Why a Will is Not the Way to Avoid Probate, Protect Heirs, and Settle!
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Product Details

  • ISBN-13: 9781581157390
  • Publisher: Skyhorse Publishing
  • Publication date: 4/27/2010
  • Sold by: Barnes & Noble
  • Format: eBook
  • Pages: 160
  • Sales rank: 494,331
  • File size: 932 KB

Meet the Author

Ronald Farrington Sharp is an attorney with offices in Michigan, now concentrating in and handling cases only in the areas of Trusts, Estate Planning, and Probate. Sharp established his firm in 1975. His company works closely on a referral basis with financial planners, insurance professionals, accountants and estate planners in developing a comprehensive estate plan package. For the first half of his career Mr. Sharp specialized in family law and divorce, in the past ten years gradually shifting the focus of the practice to estate planning. Since then, Mr. Sharp has personally prepared over three thousand trusts and estate plans. His first book with Allworth Press, Winning the Divorce War, was published in 1998, with a second edition in 2005. Ronald Sharp is married with three adult children and one grandchild and he divides his time between Michigan and Florida.

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Table of Contents

Preface v

Introduction ix

Chapter 1 Trusts and Wills Defined 1

Chapter 2 You Must Have a Trust if 11

Chapter 3 A Comparison: Trusts and Wills 25

Chapter 4 Trust Seminars: A Free Meal, But at What Cost? 33

Chapter 5 Watch Out for Attorneys 39

Chapter 6 Trustees 53

Chapter 7 Making Your Trust Work: Funding 59

Chapter 8 You Do Not Need a Trust if 69

Chapter 9 The Many Types of Trusts 75

Chapter 10 Problems with Trusts 81

Chapter 11 Guardians, Powers of Attorney, and More 87

Chapter 12 Trustee Instructions for Death or Disability 93

Appendix A Forms and Form Letters 119

Appendix B Short Form: Guide to Trust Funding 135

Appendix C Estate and Capital Gains Taxes 139

Glossary 143

Index 147

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