The Living Trust - Softcover

Henry W. Abts

Softcover

ISBN 10: 0809230313 ISBN 13: 9780809230310

Publisher: Contemporary Books, 1997

Synopsis

". . . is 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., and 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 Why The Living Trust Is So Important You may think your heirs have been well provided for, but did you know that: Your loved ones may have to wait more than two years before receiving a penny from your estate--even though you have left a legally valid will? Costs of probating your will may eat up more than 10 percent of your estate-money your heirs will never receive? The specific instructions of your bequest may be contested or changed completely--even though clearly spelled out in your will? Once a will is probated, it becomes a matter of public record--anyone can access the information just by going to the courthouse and asking for your tile? A will cannot help you in life? If you become incapacitated or your judgment comes into question, it becomes a matter for the courts to decide and is, again, a very public process. A Living Trust is a simple, inexpensive legal alternative that eliminates the costs and delays of probate and ensures that your loved ones will receive their inheritance promptly and exactly as you intended. It is also the only estate planning tool that allows you to plan for your own incapacity or for avoiding competency hearings. When The Living Trust was published in 1989, it quickly became the bible on how to avoid probate. This updated edition includes information on the new IRA Q-TIP Trust, the Spousal and Family Support Trust, and the Family Limited Partnership. In addition, there is new material on the Charitable Remainder Trust (to preserve a large estate), the Gift Trust (to reduce the impact of inflation), protection for the handicapped, and a checklist of more than 150 "must" provisions that separate a good Living Trust from a bad one. Also included is up-to-date information about trusts for unmarried couples, placing assets in your trust, what should never be placed in your trust, and much, much more. 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.

About this title

From the Back Cover

The Bible on How to Avoid Probate, Revised and Updated

"[The Living Trust] is 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., and nationally syndicated real estate columnist, Chicago Tribune

You may think your heirs have been well provided for, but did you know that:

• Your loved ones may have to wait more than two years before receiving a penny from your estate―even though you have left a legally valid will?
• Costs of probating your will may eat up more than 10 percent of your estate―money your heirs will never receive?
• The specific instructions of your bequest may be contested or changed completely―even though clearly spelled out in your will?
• A will cannot help you in life? If you become incapacitated or your judgment comes into question, it becomes a matter for the courts to decide and is a very public process.

A living trust is a simple, inexpensive legal alternative that eliminates the costs and delays of probate and ensures that your loved ones will receive their inheritance promptly and exactly as you intended. The Living Trust―the bible of how to avoid probate―will show you how to take full advantage of this critical estate-planning tool. This updated edition of The Living Trust includes the latest information on trust formations, tax changes, distribution rules, and more. It also offers:

• Insight into abuses within the probate system
• Advice on how to protect your business, savings, and retirement funds from frivolous lawsuits
• The effects of the Economic Growth and Tax Reconciliation Act of 2001 on estate tax, gift tax, the generation-skipping tax, and stepped-up valuation
• Sample and ancillary documents, including the estate preservation and tax-saving documents, the living will, and costs of living trust, all updated to reflect the latest tax changes and living trust requirements

About the Author

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 60,000 living trusts.

Edition details

• Publisher: Contemporary Books
• Publication date: 1997
• Language: English
• ISBN 10: 0809230313
• ISBN 13: 9780809230310
• Binding: Paperback
• Edition number: 2
• Number of pages: 384