Book Description
Thoroughly revised and updated to reflect the latest tax codes, the third edition of How to Settle an Estate is the essential step-by-step guide to lead readers through the complex and daunting process of settling an estate. In clear and practical lay terms, authors Charles K. Plotnick, L.L.B., and Stephan R. Leimberg, J.D., both experts in estate planning, provide readers with invaluable advice, including:
* How to raise cash for immediate estate expenses
* Dealing with insurance claims
* Knowing when to hire a lawyer, an accountant, and a stock broker
* Managing real estate
* Distributing assets
And much more...
Customer Reviews:
I'm glad I bought this book!.......2000-09-13
I will probably be asked in the next few years to be an executor, but, as is mentioned in this book's introduction, "You know generally that an executor is someone who handles the affairs of a deceased person, but you have no idea how to get the job done." After reading this book, you know that the first thing to do after the funeral is to hire an estate attorney to tell you what must be done. The book also mentions that it might be possible to totally avoid probate, which could greatly simplify things and save money. This book stresses that there is no need to try to be a do-it-yourself executor. You're definitely going to consult with a lawyer to see what the current estate laws are in your area, and you might need to also hire other professionals, but these people should all remain hired hands; the executor must stay in command. I didn't expect this book to give the estate-law quirks for all fifty states; you might find that some of what it says doesn't apply in your state. It's still a very good introduction to being an executor, and it let me know that an executor doesn't have to be totally helpless in legal land. That in itself is worth the book's cost!
One Of The Best.......2000-05-19
I have read six different books concerning wills, probate, and trusts in the past few months. Of the books that I have read, this is clearly the best. All of the standard stuff is here - except the constant reminders by the authors to hire an attorney. Unlike nearly all the other books, the authors do not talk-down to readers. The language was never too simple-minded and only in a few cases did I have to read a paragraph again to determine its meaning. The authors give hints and insights which I did not find in the other books. And the book contains the best explanation I have read concerning why trying to determine and report the lowest possible value of estate assets is not always the best idea. I do not plan to die for several years. If I could give to my future executor only one book, this would be it. I miss only estate/probate information about each state. Therefore, I am still confused about the interrelationship between state estate reporting and taxes and federal ones. Essentially, everything depends on the value of the taxable estate. If 20% of the readers of this book do so in anticipation of a death, my bet is that only 1% of those will have a taxable estate over $1 million. And those people not having a million-dollar estate (after 2006) will not need to pay federal estate taxes - thereby eliminating the need for most of the book. First-time executors reading the book because of immediate need and suspecting a taxable estate value more than $675,000 will be able to afford to hire a lawyer to do the (subjectively) most difficult parts of the job.
Good, But!.......2000-04-12
As an overview, it's difficult to imagine a better introduction to the labyrinthine ways of settling an estate. But as to details and particulars, it's woefully inadequate. The checklist at the end of the book is helpful. The thesis, viz., KEEP RECORDS, is important. But it's examples and suggestions on how to do certain, e.g., tangible acts, like dealing with creditors, secured versus unsecured claims, goes unmentioned. despite its enormous importance. There's only two sample letters, and they're not altogether novel or esoteric. Again, a good overview, just very short on particular issues, examples, and samples.
Tells you what you need to know.......1999-09-02
This book tells you nearly everything you need to know as an executor of an estate. It has lots of detailed information and practical advice. It is far superior (and cheaper, too!) than its competitor, ``Where There's a Will'' by Bauers. The information density is very high and the explanations are clear. Note particularly the detailed advice and description of a central task, filling out the Form 706 estate tax return (though the authors do suggest you also talk to a tax attorney).
There was only one question I wish the authors had answered: how to handle the affairs of the estate between the time of death and the time one has the letters testamentary that authorize you to act as executor. In that period, it seems, you have little or no legal authority to do anything even though there is much to be done.
I'm buying it for my clients!.......1998-09-29
The best basic "how-to" guide I've seen for executors and administrators. Not "do-it-yourself" tear-out forms, just good, practical, up-to-date (in '98) advice. I'm sending complimentary copies to my executor and trustee clients (via Amazon.com, natch!)
Book Description
Dividing an estate fairly may sound easy, but in fact very few people know how to do it. Because of this, an event that should be dedicated to remembering the good times and paying honor to the deceased often becomes a time of strife and divisiveness, resulting in bad feelings that can sometimes last a lifetime. Now, there is a resource that helps to avoid such conflicts. The Settlement Guide provides clear, useful advice about how to divide the family estate of the deceased parents in a fair and peaceful manner.
Customer Reviews:
The Settlement Game: How to Setle an Estate Peacefully and Fairly.......2006-10-21
Being one of five siblings I was not looking forward to settling our dad's estate. I needed real life, practical help! Reading the Settlement Game was an answer to my prayers! Here is a book written by an author who has successfully setteled her parent's estate using practical ideas; she shares these ideas, gives you guidelines and tools so that you actually have something to work with. I felt like I had a friend to help me. Giving each member in the family a copy of the book helped them to know what to expect too. The Settlement Game not only helped me with my father's estate but it will be a great guidline in organizing my own estate. I am defintely refering the book to friends. Each one of us will someday have an estate that will need to be settled; I recommed this book to anyone who cares about keeping peace and harmony in the family.
A practical, "user friendly", and informative guide to arranging a fair division of a departed loved one's estate.......2006-03-11
Confidently recommended reading, The Settlement Game: How To Settle An Estate Peacefully And Fairly by Angie Epting Morris is a practical, "user friendly", and informative guide to arranging a fair division of a departed loved one's estate. Readers will be provided with a proven system for dividing all items in an estate in a fair, peaceful manner; an analysis of personality styles that can help you avoid conflict; useful, practical advice for dealing with all details of an estate, from bank accounts to taxes; handy forms you can photocopy to keep track of all items and miscellaneous expenses.
Focusing on Peaceful Estate Settlement.......2006-02-23
After mother's death, my brother and sisters looked to me to begin the estate
settlement process. The Settlement Game: How to Settle an Estate Peacefully and Fairly has been like a life line to a drowning victim. Anyone can settle an estate, but to do so peacefully and fairly, is another matter. After reading the introduction, I
purchased copies for myself and my siblings. Our home is like returning to another era with beautiful antique furniture, dishes, and many of our old toys. This book outlines a system for distributing these items fairly and peacefully. I particularly liked the spiritual side that the author weaved into the beginning of the book. I
would recommend this book to anyone who is faced with settling an estate and
wants to make sure the process is done fairly and that family relationships remain
unharmed.
Excellent book.......2006-02-12
This book really hit the nail on the head. I would recomend a copy in every family home. I know of many family feuds over estates that this book could have helped.
Book Description
Revised to reflect the changes in the IRS death tax exclusion and the required accounting by executors now that previous required forms are not needed, this guide explains the specific role and duties of an executor for any appointed as such or for anyone who has written a will and has appointed an executor to carry out the specific desires and intentions that a lawyer may not be able to perform if beholden to the legal system. Duties such as taking inventory and appraising a decedent's gross estate and preparing a Form 1040 "final," Form 706 (death tax), and Form 1041 (estate income tax returns) are considerable undertakings that are explained in detail in this guide for the layperson.
Customer Reviews:
What a wonderful little book covering how an executor performs his or her duties in administering and settling a decedent's esta.......2006-12-26
If you are going to be an executor or someone who has just died has named you to be an executor, then this book is for you. It is not a treatise on the subject, but it summarizes the basics regarding the tasks and responsibility you will be charged with when being an executor. Such tasks and responsibilities include tax, accounting and ministerial functions.
This book is comprised of 12 chapters:
1. Ease into Your Role as Executor
2. Take Charge after Death Certificate is Issued
3. Get Your Letters Testamentary
4. Administer the Estate Independently
5. Inventory and Appraisement
6. Estate Tax Form 706
7. Calculating the Gross Estate
8. Taking All Tax Deductions Allowed
9. The Marital Tax Deduction
10. Recapitulation and Tax
11. Fiduciary Tax Form 1041
12. Settle the Estate; Closing Matters
I particularly liked the following excerpt taken from the book's introduction:
"Too often, the role importance of an executor is misunderstood. The will-appointed person rushes off to an attorney, and dumps everything in the attorney's lap. This is a shirking of duty. It is also a gross error in judgment and a costly mistake."
This book is written so the reader will not shirk her dirty or make a gross error in judgment or a costly mistake. It talks about reading a will, doing what one must do to be granted Letters Testamentary, gather together the estate's assets, fill out the proper tax returns, make distributions to creditors and beneficiaries, and close the estate. The theory of the various tax returns are discussed here like I have seen in no other book covering the subject. Splendid job.
I would have liked the book better if there was a terms index in the back of the book. And I think the book would have been better if there had been an introductory chapter that overviewed the whole book and its subject matter.
In Chapter 2 there was a reference made to visit your public library to examine a copy of your state's Probate Code. I'm not sure this is practical advise in all states.
I particularly liked the summaries at the beginning of each chapter. And I liked the page numbering so it was easy to flip from chapter to chapter, ie. 1-1, 2-1, 3-1, etc.
With this book you should be armed to visit your county law library and be able to get whatever other information you see necessary to handle your duty as executor. This book cannot cover everything - so don't expect it to do so. But it is a worthwhile book to read. 5 stars!
Book Description
This book is a practical guide to the probate process in Texas. This new edition incorporates explanations of the most recent changes in the state's probate and estate administration laws.
Customer Reviews:
Exactly What I Needed.......2007-08-15
Great instructions and forms. Saved us thousands in attorney fees. I only wish it came with a CD that had text files of all the forms.
How To Probate and Settle An Estate In Texas.......2007-08-07
Very informative, easy to understand. A must if you are settling an estate in Texas.
Incredibly helpful.......2007-01-05
We were able to settle my inlaws' estate without an attorney by using this book. A great help for anyone, especially those without a large estate who don't want to, or can't, spend thousands on legal advice.
Book Description
Praise for Henry W. Abts III's Previous Book: "Unquestionably the layman's most nearly complete source on living trusts. . . . Recommended reading for anyone who wants to maximize his net estate left to heirs, speed asset distribution after death, avoid will challenges, minimize estate costs, and maintain privacy." -- Robert Bruss, Esq. Nationally Syndicated Real Estate Columnist Chicago Tribune "Presents in clear, concise, and readable language what every person needs to know. I heartily recommend it as required reading for every caring husband, wife, parent-all those with an estate to pass along to heirs." -- Byron Countryman, Esq. Countryman and McDaniel Attorneys at Law, Los Angeles From bestselling author Henry W. Abts III comes this comprehensive guide to protecting your estate for your heirs. How to Settle Your Living Trust provides you with everything you need to know to distribute Trust assets, understand the legal and financial aspects of Trusts, properly handle asset valuation, get protection in special circumstances, avoid unnecessary taxes and legal fees, and more. Samples and explanations of all the necessary documents--durable power of attorney for health care or general asset competency clause, living will, etc.--are included, as are the "key" rules and methods for organizing all financial information. Sample (filled-in) IRS tax forms are included to show the reader how to satisfy the IRS Trust settlement requirements. A must-have guide and reference, this book brings you peace of mind if you are interested in ensuring that your estate is passed on promptly and correctly. How to Settle Your Living Trust offers pertinent advice for surviving family members, as well as attorneys and accountants. It includes:
- Up-to-date information on recent tax changes affecting estate settlement
- In-depth discussion of the Roth IRA as an estate planning tool
- Estate settlement techniques for all estates, whether small, average, or large
- Estate settlement differences in separate property states and community property states
- Sound advice for surviving spouse and family members
- Special section on advanced settlement options for highly valued estates
How to Settle Your Living Trust provides guidance in avoiding tax traps and other estate settlement pitfalls. Did you know that:
- Up to 75 percent of your traditional IRA can be consumed by taxes if you die before all the funds are depleted?
- Distributions from a traditional IRA must begin at age 701/2?
- Estate settlement differs in separate property states and community property states?
- Allocation of Trust assets to the A, B, and/or C sub-trusts is critical when the first spouse dies?
- Most attorneys and accountants do not know how to properly settle an estate in a Living Trust?
- Special techniques are available that allow full stepped-up valuation on all Trust assets, even in separate property states?
A nationally recognized authority on Living Trusts, Henry W. Abts III is chairman and founder of The Estate Plan, the nation's oldest and largest Living Trust production corporation, responsible for creating more than 25,000 Living Trusts. A graduate of the University of Southern California, Abts holds a master's degree from the Stanford University Graduate School of Business.
Customer Reviews:
Great help!.......2007-08-26
Exactly what I was looking for to settle a trust. You need to know the basics of trusts but it fills in the rest of what you need to settle a trust.
How to Settle Your Living Trust:; How you can Settle a LIving Trust Swiftly .......2005-08-14
I am amazed the author of this book had the nerve to write such a book. I used his company to settle my father's estate-it wasn't swiftOR easy-it was a NIGHTMARE- requiring 4 attorneys, three accountants and 3 years of constant legal work to clean up the mess that his company recreated. My father was middle class and trusted the advise he got from Mr. Abts- his advise ended costing us thousands in legal fees-, and 3 years of constant stress to get the mess he created cleaned up. When confronted - we found that not only was his advise bad but that he does not stand behind his advise or work! we had no legal recourse for his major mistakes as he is NOT an attorney!
Doesn't cover settling a trust........2002-08-08
I am in the process of settling a rather simple trust. However, I found this book of no use. Note the author first wrote a book titled "A Living Trust" which discussed setting up a living trust. "Settle a Living Trust" is a rehash of the "A Living Trust" with a little information about settling a trust. I wouldn't recommend buying this book if your seeking help in settling a trust.
Lawyer Finds Book Useful.......2000-05-28
As an attorney specializing in estate planning for 17 years, I found some good ideas in this book. However, there are a number of statements that are misleading at best and flat-out wrong (from a technical legal and tax standpoint), at worst. Still, your lawyer should be able to spot those and it's still a very worthwhile book, on the whole.
Required Reading BEFORE you die.......1999-06-05
Some repeated sad stories from his first book "The Living Trust". Once past these, there is some very useful info. Read it very carefully, and then take questions to his outfit, or your lawyer, or both. Then advise your next trustees so they know what is coming.
Book Description
While probate is a complicated court process, Probate and Settle an Estate in California can help you understand, prepare for, and work through the steps necessary to handle both property that is subject to probate and property that is not subject to probate in the state of California.
Written in an easy-to-understand manner, this book will give you confidence as you navigate the probate court system. From dealing with creditorsi claims and changing property ownership to transferring assets and handling estate taxes, Probate and Settle an Estate in California covers the essentials you need to close an estate.
Book Description
"Settling a loved one's estate-whether a will is present or not-is not difficult, but it is filled with many technicalities. Probate and Settle an Estate in Florida clarifies all of these rules and takes you through the process in an easy-to-understand fashion. Let it help you put this trying time behind you.
Learn how to:
Present a Will for Probate
End Claims Made by Creditors
Use Summary Procedures
Close an Estate with No Will
Ready-to-Go forms with Step-by-Step Instructions
Essential Documents you need to:
Protect Your Family
Distribute Property
Resolve Tax-Related Matters
Finalize Outstanding Issues
And much more . . .
"Their legal survival guides are dynamite and very readable."
-Small Business Opportunities
"Explaining the way the law works."
-Daily Herald
"Sphinx [legal guides] are staples of legal how-to collections."
-Library Journal
"An established legal guide."
-SmartMoney"
Customer Reviews:
The most user friendly guide for Florida probate that I have encountered.......2007-02-19
For Floridians, this is a terrific resource for probate of an estate. Simple, straightforward and concise, it gets you where you need to be quickly, and is an instructive primer to review before retaining a probate attorney.
Useful and informative.......2007-02-12
Some of the data my be 4-5 years out of date and the legal forms provided my not be county specific. Still, the book provides very useful information by an experienced Florida attorney, in a clear and well organized fashion.
Recommended.
Good info but accuracy of forms questionable.......2006-08-26
Overall, the guide was informative, but don't use the forms without additional research! The author DOES mention that the forms may not be correct for your particular county. They weren't. Headers, and signature blocks were incorrect for my county (Brevard). I found other examples of the correct documents online and adjusted accordingly. Simple items, such as providing the court with a self-addressed stamped envelope for the return of judgements, seems like info that should have been in the book.
Book Description
While probate is a complicated court process, How to Probate and Settle an Estate in California can help you understand, prepare for, and work through the steps necessary to handle both property that is subject to probate and property that is not subject to probate in the state of California.
Written in an easy-to-understand manner, this book will give you confidence as you navigate the probate court system. From dealing with creditors' claims and changing property ownership to transferring assets and handling estate taxes, How to Probate and Settle an Estate in California covers the essentials you need to close an estate.
Customer Reviews:
Not for the complicated estate.......2005-02-11
This book is an excellent guide if you are settling an estate where there is a will, no messy record keeping, and no lack of attention by the dead person to their assets, and absolutely no complications. If anything is outside the perfect Stepford-like world then this book is likely to mislead you. It is too simplified to make you aware of the nuances of California Probate Law. A better resource is How to Probate an Estate in California by Julia Nissey.
This book can save you thousands of dollars.......2002-07-22
If you have the patience to go through a loved ones mail, keep track of all the phone calls and paper work, this book is for you. Instead of paying an attorney thousands of dollars to do "paperwork" this book will guide you through the tedious probate process. Even if you make a mistake, the court will let you know what was incorrect. (The courts paralegal may even assist you at no charge.) You can then go back to the book and correct the error and resubmit your paperwork. Think about it... you will have to provide an attorney with the loved ones documents and then the attorney gets paid to fill in the blanks. But if YOU file for probate, you can be fully in charge, keep track of information and keep the money the attorney probably has a paralegal prepare. This book is easy to follow and well worth the investment. This book can not be rated high enough.
Average customer rating:
|
How to Settle an Estate: From Personal Assets to Business Interests
Stephen C Brecht
Manufacturer: Hastings House
ProductGroup: Book
Binding: Paperback
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ASIN: 0803893779 |
Book Description
Offers a state-by-state handbook that makes intricate regulations understandable.
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The Executor's Handbook: A Step-By-Step Guide to Settling an Estate for Personal Representatives, Administrators, and Beneficiaries (Facts on File Personal Law Library)
How to Administer an Estate: A Step-By-Step Guide for Families and Friends (How to Administer an Estate)
Your Executor Duties: How to Inventory & Appraise a Decedent's Estate; Obtain Letters Testamentary; and Settle Claims, Debts, & Taxes (Series 300: Retirees & Estates)
Your Trustee Duties: How to Dissect a Trust Contract, Prepare Form 1041, Distribute Income and Principal to Beneficiaries, and Terminate the Trust (Series 300: Retirees & Estates)
