Seniors in Alaska

Estate Planning Smarts: A Practical, User-Friendly, Action-Oriented Guide

Description

A lawyer and award-winning journalist offers a plain-English guide to a stressful topic, with examples from the estate plans of Paul Newman, Jacqueline Kennedy Onassis, Michael Jackson and others. Set in the context of the current economy and tax law, the book is full of essential information about: protecting a spouse or partner, providing for young or disabled children, preserving retirement benefits, paying for education and health care, transferring a family business and designing a charitable legacy. To-Do Lists after each chapter leave no excuses for procrastinators.

KEEPING CURRENT
The material in this book will be continually updated to reflect legal developments that might affect your estate plan. As changes occur, the pertinent sections of this book will be revised and available at the book Web site. You can register at the site to receive e-mail notifications of these changes.

An annotated Table of Contents, phrased in terms of personal or financial goals, doubles as a checklist:
1 Nothing Lasts Forever: Read this chapter even if you are hearty and clear-headed.
2 Who Gets What and How Much Is Enough? Read this chapter if you want to provide for specific people, charities or pets in your estate plan.
3 Beware the Tax Bite: Read this chapter if you have more than $3.5 million of assets or might some day.
4 Protect Your Spouse or Partner: Read this chapter if you are involved in any committed relationship.
5 What if? Provide for Young or Disabled Children: Read this chapter so you can anticipate their needs and make sure they will be nurtured.
6 Trusts - Not Just for the Wealthy: Read this chapter even if you think you don t need this very useful tool.
7 Preserve Retirement Accounts: Read this chapter if you have a retirement account, such as an IRA or a 401(k).
8 Be Smart About Life Insurance: Read this chapter whether or not you have life insurance.
9 Pay for Health Care and Education: Read this chapter if anyone you love could use help with these expenses, now or in the future.
10 Home Base - Factoring In Real Estate: Read this chapter if you own your primary residence or vacation home or might move to a different state.
11 Hidden Traps When Crossing Borders: Read this chapter if you or a family member is a citizen of another country, lives abroad or has foreign investments.
12 The Family Business - a Legacy or a Headache? Read this chapter if you have your own business or a share in a family-held enterprise.
13 Subsidize Friends or Family: Read this chapter if you would like to offer financial help to adult children, grandchildren, parents, siblings or others.
14 What You Can Do for Grandchildren: Read this chapter if you would like to provide a financial cushion for your descendants in the years ahead.
15 Give Now, Save Tax Later: Read this chapter if saving taxes is a high priority.
16 Make Lifetime Gifts Go Further: Read this chapter if you have the resources to transfer large sums of money while you are alive.
17 Your Charitable Legacy: Read this chapter if there are causes you care deeply about and would like to benefit now or later.
18 Roadblocks to Creditors: Read this chapter if you worry about being sued.
19 From Planning to Action: Read this chapter even if you already have lawyers and financial advisers whom you trust.

FROM THE INTRODUCTION:
If the thought of doing an estate plan gives you goosebumps, you are not alone. But if you do not address thi

Reviews

Rating: 5 / 5
Date: 2010-04-17
Summary: "Good, practical advice"

This book is a very good introduction to estate planning for the average person. It is well thought out, and has very practical advice for the average person. Some of the best advice is for families, especially those with young children.

The author stresses the point repeatedly that parents must be prepared to provide for their children and make their final wishes clear. Otherwise family bickering can make a difficult time even harder when loved ones are forced to speculate what the wishes of their deceased loved ones were.

I would reccommend this book to anyone who wants practical advice on estate planning and is not sure where to start.

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Rating: 4 / 5
Date: 2010-03-24
Summary: "BASIC ESTATE PLANNING BOOK"

"Estate Planning Smarts" is a basic guide to the concepts of Estate Planning.

Please be aware of the following:

1) This book is NOT an in depth guide to the intricacies of Estate Planning.

2) I recommend that you buy four to five books to understand the concepts of Estate Planning. This would be Book One of the five books. The goal is to understand the intricacies of Estate Planning and be knowledgeable before consulting your Attorney.

3) When you become knowledgeable, from the books and on line sources you consult,
only then consult your Attorney to make certain that everything is legally correct.

Note: Once again, "Estate Planning Smarts" is only a basic book on this topic. You will for a certainty need other reference books and other resources.

Good luck to all!

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Rating: 5 / 5
Date: 2010-03-12
Summary: "A choice pick for those who plan for the worst wisely"

A wise man realizes he isn't immortal. "Estate Planning Smarts: A Practical, User-Friendly, Action-Oriented Guide" is a guide for those who want to plan a wise will to be followed after they pass on, to help with the chaos that is normally associated with inheritance. From the power of attorney, to caring for one's children in the future, charity, legally evading the taxman, and more, "Estate Planning Smarts" is a choice pick for those who plan for the worst wisely.

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Rating: 5 / 5
Date: 2010-02-18
Summary: "Excellent Resource"

Estate Planning Smarts eases the reader into a subject that is often difficult by focusing on an underlying purpose of estate planning: taking care of yourself and those you love. In this context, the Ms.Jacobs discusses the documents and tools that make-up an estate plan, the estate tax, and different assets and family situations that affect planning. All the while, the book uses language that both a lay person and an estate planner can understand and appreciate.

Ms. Jacobs divides the book into chapters by relevance to the reader, making it easy to find a particular topic or read the entire book without feeling overwhelmed. Each chapter is further subdivided by descriptive headings so as to give the reader a roadmap for that particular topic. Within each chapter, colored blocks set-off useful "to-do" lists, real-life examples, charts, and tables. The back of the book contains a 20-page glossary of estate planning terms and a list of resources for further understanding and action. Updated chapters to the book will be provided online at [...], insuring that the reader stays up-to-date.

Deborah Jacobs uses her prior years experience of writing in this field to create a book that really is practical, user-friendly, and action-oriented. Because the book uses an easy-to-read format, explains complex topics simply, and prompts the reader to think about and organize for effective estate planning, Estate Planning Smarts is a great book for estate planners to make available to new clients in need of a basic information.

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Rating: 5 / 5
Date: 2010-02-01
Summary: "Estate Planning Smarts"

This is an excellent book worthy of anyone in the Financial Services Business to give away to clients. In addition, it is a valuable resource and a wealth of information that has been simplified and a comfortable read to learn about Estate Planning. The author makes sure that this subject matter is in a constant change and instructs the reader how to adapt to changes in the future.
Lee Scher
Financial Representative of Guardian Life Insurance Company