Family Trust : How to Avoid Probate, Save Taxes, Protect Your assets, Provide For Your Family (1st Edition) - Softcover

Croke, Frank J.; Croke, William F.

Softcover

ISBN 10: 1892879123 ISBN 13: 9781892879127

Publisher: Capital Management Pr, 1998

Synopsis

First and only book that provides the financial options a grantor has for the benefit of their surviving spouse, children and other heirs.

Most trust do not provide these financial options which are not taught in law schools. As a result, the surviving spouse will only receive a fraction of the income she may need and could have had received if the trust was properly worded to provide for these needs.

The general public believes that the tax laws laws and other regulations control their trusts and leave them few options, if any, other than naming those who are to receive the income and those who will receive the end-value of the trust after the death of the income beneficiary. This is not correct.

A person has many financial options that should be considered prioe to visiting an attorney who will prepare the documents. This book list the major options a grantor has that should be considered and explains the benefit and need for each option.

About this title

About the Author

Frank J. Croke is an associate member of the American Bar Association and a member of the "Investment and Cash Flow Planning" and "Asset Protection" committees of the Probate and Trust Section of the ABA. He conducts CLE (Continuing Legal Education) courses for attorney on Financial and Management Options a Grantor has in Trusts. These courses are taught in North Carilina, South Carolina, Georgia, Kentucky, Virginia and will be extended to many other states. He is a frequent speaker on Trusts to attorneys, accountants and other professional groups

William F. Croke, Esq., received his J.D. from Notre Dame Law School. He was awarded a post-doctoral fellowship in European law from the Belgian Givernment. After completing his fellowship he practiced in New York for several years and then obtained his LLM from the University of Edinburgh, Scotland. He is currently practicing in Denver, Colorado and is admitted in New York, Connecticut and Colorado.

From Library Journal

Written by a financial planner and an attorney, this book does not claim to substitute for expert legal advice, but it is a useful guide to the pros and cons of setting up trusts to reduce estate taxes. Many trusts do not specify how the trust assets will be invested; instead, the assets are governed by state law "default rules," which may be too conservative. The authors methodically explain how to determine how much money is needed for different purposes; after discussing the options, they devote a section to estate planning documents such as living trusts and durable power of attorney. The final section covers options to consider, including choice of trustee, payment of trust fees, and special trustees. Readers are referred to a web site to calculate retirement financing. The book has limited coverage of the use of life insurance and does not provide a means to select estate planning help, except to suggest attorneys. It would have helped to include a checklist of questions for estate planning professionals. For sophisticated readers.AHarry Charles, Attorney at Law, St. Louis
Copyright 1999 Reed Business Information, Inc.

About this edition

• Publisher: Capital Management Pr
• Publication date: 1998
• ISBN 10: 1892879123
• ISBN 13: 9781892879127
• Binding: Paperback
• Edition number: 1
• Number of pages: 307