The Complete Guide to Wills: What You Need to Know Explained Simply [NOOK Book]

Overview

Whether many people realize it or not, a will is a vital necessity in making sure all assets and wishes are properly attended to after death. Yet, according to a 2007 lawyers.com survey, more than 55 percent of all American adults do not have a will, assuming that because they do not have substantial assets, it is an unnecessary task. Many more people neglect it because it seems too complex and time consuming. Fortunately, with this guide in hand, you will have a comprehensive outlook on exactly what a will ...
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The Complete Guide to Wills: What You Need to Know Explained Simply

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Overview

Whether many people realize it or not, a will is a vital necessity in making sure all assets and wishes are properly attended to after death. Yet, according to a 2007 lawyers.com survey, more than 55 percent of all American adults do not have a will, assuming that because they do not have substantial assets, it is an unnecessary task. Many more people neglect it because it seems too complex and time consuming. Fortunately, with this guide in hand, you will have a comprehensive outlook on exactly what a will entails and what you need to do to prepare one.

You will learn the basics of estate planning, starting with the outlining of your assets and understanding the various different forms of ownership style. The real and personal property lines, including how your marriage, children, and other legal relationships will affect your property rights, are included. You will learn what value life insurance can have and why every one should have an active policy before creating a will. In addition, you will learn how to measure and distribute assets from a pension, other retirement accounts, and if you own your own business.

The difference between a trust and will is provided along with a reason why you should have both in hand at all times. You will learn what the probate court process entails and how attorneys and other legal issues factor into the process. Once the will creation process has begun, sections on how to decide the guardianship of your children and how to handle specific problem situations, such as marriage issues, disabilities, grandchildren you might care for, excess debt, and bankruptcy are provided. You will learn how to make sure your estate is taken care of so that there are no disputes amongst your family after your passing.

Dozens of interviews were conducted with attorneys, tax accountants, and other experts to establish a set of clear guidelines to help you ensure your will is created with the best of everyone in mind. You will learn how to minimize the amount of taxes that will be levied on your estate, including through estate taxes, state taxes, and income taxes. You will learn how to use charitable donations, gifting, and other ploys to keep your wealth and possessions in the family. Other details covered include how to choose an attorney to execute the will, and what you can do to handle the surprises you will not be able to anticipate before filing your will. A chapter is included that helps you outline and keep track of how you will keep your will updated as you age and your estate changes. For any of the 125 million Americans without a will, this book is a vital tool to help you prepare your estate properly.
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Product Details

  • BN ID: 2940014033565
  • Publisher: Atlantic Publishing Group, Inc.
  • Publication date: 2/8/2012
  • Sold by: Barnes & Noble
  • Format: eBook
  • Pages: 288
  • File size: 7 MB

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Sort by: Showing 1 Customer Reviews
  • Posted July 24, 2012

    Calling an individual's will "a profound documentary of a p

    Calling an individual's will "a profound documentary of a person's life," The Complete Guide to Wills: What You Need to Know Explained Simply, lays out all of the basics of what may be one of the most important tasks in life.

    Explanations of different types of wills, from the standard will, the witnessed will, the holographic will (one that is handwritten and unwitnessed, often for privacy) to the video and electronic forms of wills start your guidebook to all things wills and final testament-related information.

    Written by attorney Linda C. Ashar and Sandy Baker, examples of wills are abundant throughout the book. These examples give the reader a real sense of what a will is and does and shows its importance to all of us. Often relegated to an afterthought, this book explains and brings to light, in simple, no nonsense language, how important it is to prepare for your future, even after you are gone.

    Legal terms are defined early and easily for the non-lawyer. Questions about life insurance, pensions and retirement accounts are outlined. The whole question of "who gets what" is entertained in one chapter, while the great importance of whom to choose as executor is explained in another.

    This book gives a well-constructed, straightforward, straight-talking account of how to plan for the future. Worksheets, examples of wills and an in-depth glossary makes this book a great choice for those looking to plan ahead right now.

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