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Make Your Own Living Trust

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ISBN-10: 0873374290

ISBN-13: 9780873374293

Edition: 3rd (Revised)

Authors: Denis Clifford, Mary Randolph

List price: $34.95
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Book details

List price: $34.95
Edition: 3rd
Publisher: NOLO
Binding: Paperback
Pages: 336
Size: 8.75" wide x 11.00" long x 0.75" tall
Weight: 1.694
Language: English

Denis Clifford, a graduate of Columbia Law School, where he was an editor of The Law Review, is a lawyer who specializes in estate planning. He is the author of many Nolo titles including Quick and Legal Will Book, Nolo's Simple Will Book and Make Your Own Living Trust and co-author of Plan Your Estate and A Legal Guide for Lesbian and Gay Couples. He has been interviewed by such major media as The New York Times, Los Angeles Times, and Money Magazine.

Introduction
An Overview of Living Trusts
Living Trusts Explained
Probate and Why You Want to Avoid It
Avoiding Probate
Reducing Estate Taxes
Other Advantages of a Living Trust
Possible Drawbacks of a Living Trust
Human Emotions and Living Trusts
Leaving Unequal Amounts of Property to Children
Second or Subsequent Marriages
Disinheriting a Child
Special Concerns of Unmarried Couples
Communicating Your Decisions to Family and Friends
Common Questions About Living Trusts
Does Everyone Need a Living Trust?
If I Prepare a Living Trust, Do I Need a Will?
How Can I Leave Trust Property to Children and Young Adults?
Will My Living Trust Reduce Estate Taxes?
Will I Have to Pay Gift Taxes?
Will a Living Trust Shield My Property From Creditors?
Do I Need a "Catastrophic Illness Clause" in My Trust?
How Does Where I Live Affect My Living Trust?
Can I Place Real Estate in a Living Trust?
Can I Sell or Give Away Trust Property While I'm Alive?
Is My Bank Account in the Trust's Name Insured by the FDIC?
Will Property in My Living Trust Get a "Stepped-Up" Tax Basis When I Die?
Who Must Know About My Living Trust?
Could Someone Challenge My Living Trust?
Will Congress or My State Legislature Abolish or Restrict Living Trusts?
What Type of Trust do You Need?
If You Are Single
If You Are Part of a Couple
Individual Trusts for Members of a Couple
A Basic Shared Living Trust
The Tax-Saving AB Trust
Nolo's AB Trust
Nolo's Tax-saving AB Trust
The Size of Your Estate
Should You Do It Yourself?
How Nolo's AB Trust Works
Alternatives to Nolo's AB Trust
Choosing What Property to Put in Your Living Trust
Listing the Property to Be Put in Your Trust
Property That Should Not Be Put in Your Living Trust
Property You Can Put in Your Living Trust
Marital Property Laws
Completing the Property Worksheet
Trustees
The Initial Trustee
The Trustee After One Spouse's Death or Incapacity
The Successor Trustee
Choosing Your Beneficiaries
Kinds of Trust Beneficiaries
Naming Your Primary Beneficiaries
Simultaneous Death Clauses
Cobeneficiaries
Some Common Concerns About Beneficiaries
Naming Alternate Beneficiaries
Residuary Beneficiaries
Disinheritance
Putting Conditions on Beneficiaries
Property You Leave in Your Trust That You No Longer Own at Your Death
Beneficiary Worksheets
Property Left to Minor Children or Young Adults
Property Management Options
Which Method Is Better for You: Children's Trust or Custodianship?
Tax-Saving Educational Investment Plans
Children's Trusts
Custodianships
Preparing Your Living Trust Document
Choosing the Right Trust Form
Getting Started
Making Changes in a Trust Form
Step-by-Step Instructions
Prepare Your Final Trust Document
Consider Having Your Work Checked by a Lawyer
Sign Your Living Trust in Front of a Notary
Transferring Property to Your Trust
Paperwork
Technical Ownership
An Abstract of Trust
Property That Names the Living Trust as a Beneficiary
Real Estate
Bank Accounts and Safe Deposit Boxes
Securities
Vehicles, Boats, and Planes
Business Interests
Limited Partnerships
Copyrights
Patents
Royalties
Copying, Storing, and Registering Your Trust Document
Making Copies
Storing the Trust Document
Registering the Trust
Living with Your Living Trust
If You Move to Another State
Adding Property to Your Living Trust
Selling or Giving Away Trust Property
When to Amend Your Living Trust Document
Amending a Living Trust Document
How to Amend Your Trust Document
Revoking Your Living Trust
After a Grantor Dies
Who Serves as Trustee After the Grantor's Death
The Trustee's Duties
Transferring Property to Beneficiaries
Preparing and Filing Tax Returns
Administering a Child's Trust
Administering a Custodianship
A Living Trust as Part of Your Estate Plan
Using a Back-up Will
Other Probate-Avoidance Methods
Federal Gift and Estate Taxes
State Death Taxes
Planning for Incapacity
Long-Term Trusts to Control Property
Wills
Why Prepare a Back-up Will?
What You Can Do in a Back-up Will
Pour-Over Wills
Avoiding Conflicts Between Your Will and Living Trust
Filling in the Will Form
Signing and Witnessing Your Will
If You Need Expert Help
Hiring a Lawyer to Review Your Living Trust
Working With an Expert
Lawyer Fees
Doing Your Own Legal Research
Glossary
How to Use the Forms CD-ROM
Installing the Form Files Onto Your Computer
Using the Word Processing Files to Create Documents
Forms
Basic Living Trust for One Person
Basic Shared Living Trust
AB Living Trust
Witness Statement for a Florida Living Trust
Assignment of Property to a Trust for One Person
Assignment of Shared Property to a Trust for a Couple
Amendment to Living Trust for One Person
Amendment to Basic Shared Living Trust or AB Trust
Revocation of Living Trust
Basic Will for One Person
Basic Will for a Member of a Couple
Affidavit of Successor Trustee
Index