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Introduction | |
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Probate:The Good, The Bad, and The Ugly | |
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Understanding the Probate Process | |
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Understanding when Probate is Necessary | |
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Property Subject to Probate | |
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The Role of Your Will in the Probate Process | |
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Disadvantages of Probate | |
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Advantages of Probate | |
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Conclusion | |
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Probate Alternatives and Beneficiary Designations: | |
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Side Stepping the Probate Process | |
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Benefits of Probate Alternatives | |
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Dangers of Probate Alternatives | |
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Methods of Holding Title to Assets | |
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Community Property | |
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Transfers of Property by Contract | |
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Gifts | |
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Estate and Inheritance Taxes: | |
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Is Uncle Sam a Beneficiary of Your Estate? | |
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Federal Estate Tax | |
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Planning to Reduce Your Estate Tax Burden | |
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Living Trusts:The Nuts and Bolts | |
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Trusts | |
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Trust Types | |
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Parties to a Trust | |
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Living Trust Advantages | |
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Living Trust Disadvantages | |
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Your Assets:What Do You Have and How Much Do You Have? | |
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Calculating Your Net Worth | |
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The Worksheet | |
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Identify Your Assets | |
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Retirement/Employment Related Plans | |
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Identify Your Liabilities | |
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Calculate Your Net Worth | |
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Net Worth Worksheet | |
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Net Worth Summary | |
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Personal Contacts Worksheet | |
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Creating Your Living Trust:Putting It All into Action | |
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The Trustee | |
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The Beneficiaries | |
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Executing Your Living Trust | |
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Amending the Living Trust | |
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Revocation of the Living Trust | |
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Funding Your Living Trust:If You've Got It, Fund It! | |
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Deciding which Property to Transfer | |
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Title | |
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Taxpayer Identification Number | |
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Asset Ownership | |
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Transferring Assets to Your Living Trust | |
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Living Trust Recordkeeping | |
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Estate Tax and Probate Savings of Living Trusts: | |
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You Earn It, You Keep It! | |
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I Love You Wills | |
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Case Studies | |
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Estate Tax Planning with Living Trust | |
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Family Trust Appreciation | |
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Guardianships-the Living Probate | |
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Ancillary Documents to Avoid Living Probate: | |
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Complete Your Planning with All the Documents You Need | |
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Powers of Attorney-Guardianship Alternatives | |
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Declaration of Guardian in Advance of Need | |
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Designation of Guardian for Minor Children | |
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Administration of Your Living Trust after Your Death: The Final Steps | |
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Obtain Death Certificates | |
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Gather Personal Information | |
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Contact Social Security Administration | |
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Safe Deposit Box | |
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Obtain Tax Identification Number for Trust | |
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Contact Life Insurance Companies | |
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Inventory Assets | |
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Identify Debts of Decedent | |
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Final Income Tax Return | |
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Trust Income Tax Returns | |
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Distribution of Assets to Beneficiaries | |
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Epilogue | |
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Glossary | |
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Tax Explanations and Charts | |
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State-by-State Laws | |
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The Design of the Forms | |
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Blank Forms | |
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Index | |
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About the Author | |