Estate Planning Basics

Over 40 percent of Americans age 45 or older have not drawn up a will. Estate Planning Basics will make it easy for these readers to learn exactly what they need to know about estate planning—from making a simple will to understanding uncomplicated ways to avoid probate, from deciding whether or not to make a living trust to learning about health care directives and powers of attorney—without ever getting bogged down in complexities that usually apply only to the wealthy.Learn about: • choosing beneficiaries • estate planning by parents with minor children • other probate-avoidance methods, including using a retirement plan like an IRA or 401(k) as an estate planning device • estate taxes and tax-reduction methods • trusts for people in second marriages, or for those leaving property to a disabled person • planning for the handling of medical and financial decisions if one becomes incompetent Whether they’re doling out the family heirlooms or trying to steer clear of estate taxes, Estate Planning Basics helps readers make decisions about which planning methods to use, so that they can be prepared when it’s time to either make the necessary documents themselves, or see a lawyer. The 5th edition is updated with the latest estate and gift tax information.