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How can you provide a financially sound future for your loved ones while avoiding estate planning or even making a will, unsure about how to effectively plan for the disposition of your assets?
Estate planning is essential—no matter how much money or property you intend to leave to your heirs. In this handy Q&A guide, you’ll find answers to all of your questions about taxes, gifts, wills, will substitutes, and much more, including:
What is a community property state?
What are the disadvantages of intestacy?
What is the fair market value of an estate?
What is the generation-skipping transfer tax?
With this book at your side, you can use the estate and tax laws and options to make sure you’ve made the best allotment of your property. And when you’ve done that, you can face the future with confidence, knowing your heirs and family are provided for.
|Sold by:||SIMON & SCHUSTER|
|File size:||390 KB|
About the Author
Table of ContentsIntroduction v
The Basics of Estate Planning 1
Taking Time for Probate 7
When There's a Will 19
Intestate-When There's Not a Will 25
Will Substitutes, or How to Avoid Probate 29
Dealing with Taxes-Federal Unified Transfer Tax System 36
Calculating the Estate Tax 49
Estate Tax Planning 64
Rules on Giving-Federal Gift Tax 74
Generation-Skipping Transfer Tax 88
Giving While You're Alive-Estate Transfer During Lifetime 93
Selling Property-Intrafamily Transfers 113
Business Dealings-Transfer of Closely Held Business Interests 118
Life Insurance Planning 123
Estate Shrinkage 130
Postmortem Liquidity Planning 136
Problems of Incompetency 141
Planning for Incompetency 147
An Incompetent Person's Medical Needs 153
Estate Planning for Cohabitation or Nontraditional Family Arrangements 159
Appendix: The 250 Questions 163
About the Author 186