The Complete Will Kit, 3rd Edition

A timely update of a bestselling guide to wills and estate planning This is a revision of the successful Complete Will Kit, Second Edition. The authors have expanded the information regarding the importance of a will and estate planning due to recently increased values of stocks and bonds and the effects of inheritance. Numerous revisions reflect current federal and state requirements and tax codes. One completely revised chapter reflects a more contemporaneous estate tax situation.

Introduction

1

(1)

About the Book

2

(1)

Sample Will

3

(2)

Last Will and Testament

5

(1)

Executor

5

(1)

Bequests

5

(1)

Witnessed

5

(1)

Witnessing Your Will

6

(3)

Proper Witness Procedure

6

(1)

Witnesses

6

(1)

Self-Proving a Will

7

(2)

Preparing Your Estate Plan

9

(14)

The Role of Your Will

9

(1)

Estate Concerns

10

(1)

Your Personal Situation

10

(1)

Special Situations

11

(4)

Marriage

12

(1)

Marriage and Property

12

(1)

Divorce/Remarriage/Other Relationships

12

(1)

Children and Dependents

13

(1)

Children: Unequal Shares

13

(2)

Disinheritance

15

(1)

Common Estate Planning Methods

15

(2)

Payable on Death Accounts

16

(1)

Joint Ownership/Right of Survivorship

16

(1)

Trusts

17

(4)

Trusts and Life Estates

17

(1)

Purposes of Trusts

17

(1)

The Trust Entity

18

(1)

The Timing of Trust Distribution

18

(1)

The Trustee

19

(1)

The Funding of Trusts

19

(2)

Trust Checklist

21

(2)

Writing Your Will

23

(12)

Forms and Formalities

23

(1)

The Opening Clause (Statement of Intent)

24

(1)

Your Executor

24

(1)

The Role of the Executor

25

(2)

Naming Co-Executors

25

(1)

Compensating Your Executor

26

(1)

Information Your Executor Will Need

26

(1)

Executor Powers and Duties

26

(1)

Executor Bond

26

(1)

Naming an Out-of-State Executor

27

(1)

Outside Appraisal of the Estate

27

(1)

Bequests

28

(1)

Witnessing Your Will

28

(2)

Your Witnesses

29

(1)

Self-Proving Your Will

30

(1)

Reviewing Your Will

30

(1)

Will Revision Checklist

30

(1)

Codicils

31

(3)

Rewriting Your Will

34

(1)

Keeping Your Will Safe

34

(1)

Your Property

35

(10)

Tangible Personal Property

35

(1)

Intangible Personal Property

36

(3)

Monetary Gifts

37

(2)

Intellectual Property

39

(1)

Real Property

39

(4)

Identifying Real Estate

40

(1)

Deed Options

40

(1)

Joint Titling/Tenancy by the Entirety

41

(1)

Life Estate

41

(1)

Factors to Consider

41

(1)

Income-Producing Property

42

(1)

Life Insurance

43

(2)

Bequests and Special Instructions

45

(12)

Language in Your Will

46

(1)

Evaluating Your Estate

47

(1)

Identifying Beneficiaries and Bequests

48

(1)

Bequests

49

(5)

Adeemed and Abated Bequests

50

(1)

Contingent Bequests

50

(3)

Residual Bequests

53

(1)

Charitable Bequests

53

(1)

Special Instructions

54

(3)

No Contest

56

(1)

Executor's Guide

57

(16)

Appointing an Executor

58

(1)

The Appointment of an Administrator

58

(1)

Conserving and Collecting Assets

59

(1)

Estate Inventory

59

(1)

Estate Bank Accounts

59

(1)

Types of Administration and Accounting

60

(1)

Debts and Creditors

60

(1)

Real Property

61

(1)

Business Interests

62

(1)

Distribution/Accounting

63

(1)

Taxes

63

(1)

Executor Resources

64

(1)

Reviewing the Executor's Checklist

64

(2)

Executor's Checklist

66

(7)

Taxes

73

(10)

Introduction

73

(1)

Your Estate

74

(1)

Federal Taxes

75

(4)

Income Tax

75

(1)

U.S. Military

76

(1)

Estate Tax

76

(1)

Life Insurance

76

(1)

Alternate Valuation

77

(1)

Special-Use Valuation

77

(1)

Gift Tax

77

(2)

Generation-Skipping Transfer Tax

79

(1)

State Taxes

79

(2)

Income Tax

79

(1)

Estate Tax

79

(1)

Inheritance Tax

80

(1)

Gift Tax

81

(1)

Insufficient Assets

81

(2)

The Living Will / Durable Power of Attorney

83

(10)

Introduction

83

(1)

Obtaining Current Information

84

(1)

Reasons for a Living Will

85

(1)

The Growing Need for Advance Medical Directives

86

(2)

Legal Cases

87

(1)

The Patient Self-Determination Act

87

(1)

Preparing an Advance Medical Directive

88

(1)

State Requirements

89

(1)

Planning Steps

89

(1)

Durable Power of Attorney

89

(2)

Resources

91

(2)

State Resources and Requirements

93

(58)

Introduction

93

(1)

Summary of State Requirements

94

(57)

Witnesses

94

(1)

Self-Proving Certificate

94

(1)

Community Property

94

(1)

Life Estate

95

(1)

Payable on Death Accounts

95

(1)

Allowances

95

(1)

Effect of Marriage / Divorce on Your Will

95

(1)

Surviving Spouse Share (Election)

96

(1)

State Taxes

96

(55)

Glossary

151

(4)

Index

155

What is included with this book?

The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.

The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.

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The Complete Will Kit, 3rd Edition

Summary

Table of Contents

Supplemental Materials

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5% off 1 book, 7% off 2 books, 10% off 3+ books

The Complete Will Kit, 3rd Edition

Summary

Table of Contents

Supplemental Materials

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