Anyone with assets and heirs needs a will to determine what will happen to their property and plan for the welfare of their children should they pass away unexpectedly. As people age, they tend to think more seriously about having a will and planning their estates, to help their heirs, and to give them the maximum amount of money possible. This book makes it easy to understand all the issues surrounding estates, and to draft a will. This book covers:
• An introduction to the important concepts of estate planning and vital information on how to get started on a plan.
• Valuing your property and assets, including businesses and self-employment issues.
• Getting the most from life insurance, pensions, and retirement savings.
• Creating a will and trusts, and learning how probate works.
• Looking after minor children in the event of your death, planning for special situations such as divorce and bankruptcy, and avoiding family feuds over inheritance.
• Everything you need to know about taxes: estate, gift, state and federal income—and how to ensure that your heirs receive the assets you have intended for them.
• Planning for retirement, including Social Security benefits, power of attorney, and health care directives.