The Executor’s Guide: Settling a Loved One’s Estate or Trust
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Product Description
If you’re faced with wrapping up the affairs of a loved one who has died, you may feel overwhelmed by all the work yet to be — especially when you’re grieving. But with the right officially authorized and practical information, you can do it.
The Executor’s Guide will show you how to get organized, get the help you need and make progress one step at a time. Let it help you navigate an unfamiliar land of officially authorized procedures and terminology. It clarifies:
*preparing for the job of executor or trustee
*the first steps to take
*claiming life insurance, Social Security and additional benefits
*building sense of a will
*what to do if there is no will
*how to determine whether or not probate is necessary
*caring for children and their property
*taxes
*an overview of probate court proceedings
*dealing with family tree members
*handling trusts
*looking up your state’s laws
*effective with lawyers, appraisers, accountants and additional experts
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never arrived and no response from seller when sent email. Excellent thing I bought a used copy!
Reader’s Rating: 1 / 5
PA state inhertince tax book tells you everything in this book for free and it is available for download from the state. I wish I had not bought the book.
Reader’s Rating: 1 / 5
I read many Nolo type of books and then work with lawyers -so that I know what they’re doing and so as to cut my costs significantly.
This book is one such type. If the estate is tiny and not likely to be contested, I guess it might be possible to do this oneself, following this book very, very carefully. If the estate is larger, I guess it’s also possible to cut lawyers fees reading this book. Probate court is so time-consuming and costly that I would do anything to avoid building a mistake in this type of court.
Give it a try, if the amount of estate money is tiny.
Reader’s Rating: 4 / 5
This is an brilliant book for persons who have to handle an estate as an executor. It is also useful for persons who are building out a will, in that it goes over the organization of everything. It certainly would be helpful if the person who makes out the will tells his executor where the bank books, deeds, titles, and additional vital papers are.
The book is well organized, with simple chapter headings and a full pointer. So if you are interested in trusts you can go immediately to that chapter, or if you want to know about step-children and in-laws you can find persons topics immediately.
I would say the only flaw is that there is not enough about the internet. What if the person has a paypal account that keeps getting royalties? The leader is a lawyer who is well versed in her theme but the original book was written in 2004 and I’m not sure she was involved in the updates. There is mention of online banking but.
There is a preface about the 2010 estate tax loophole — since there is no federal estate tax in this year. It will probably be re-instated in 2011. But this is an vital thing to know.
At least half of the book is devoted to trusts. The rest is devoted to the duties of the executor of a will. Here it is brilliant as it takes you step by step in the process. I was surprised by one thing — she tells you to cancel the deceased’s credit card and see if you can negotiate with the credit card company as to the balance if there is one. Frankly, I’m surprised because of friend of mine had a situation where her spouse had a separate card (there is no problem with a joint card) with a $300 unpaid balance. The credit card company immediately sent the bill to a collection agency upon learning of the death. There was a whole hassle because she paid thru her joint account and it took a year and the intervention of a lawyer friend to clear things up.
The book does cite some examples which are very helpful especially where there is a problem with the line of descendents. There is also a list of officially authorized statutes for each state in the back matter. It tells which law to refer to and what is officially authorized. For instance some states do not admit holographic wills. In New Jersey, where I live, a separate list of tangible asset bequests is not allowed. Who knew?
Obviously a book like this can be a fantastic help in time of need.
Reader’s Rating: 4 / 5
I bought this book becuase I am a Successor Trustee. Overall, the book is reasonably helpful, but most information pertains to probating a will. Information on settling a trust seems not as thorough, but has been very useful nonetheless in framing questions I feel the need to contact an attorney on, thus saving some money by focusing issues. It also gives some welcome peace of mind that you aren’t really clueless about what needs to be done, and for that resaon alone is worth the fee.
Reader’s Rating: 4 / 5