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Larson - Wills and Trusts Kit For Dummies

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Navigate probate, tax issues, and state laws

Create an estate plan and protect your familys interests

Need a will, but have no idea where to start? This friendly guide shows youhow to prepare a legal will or trust -- either on your own or with professional help -- and ensure that your wishes are honored. Youll handle everything from planning your bequests and writing and signing a will to selecting a trust and drafting your durable power of attorney.

Discover how to:

  • Provide for your children

  • Hire and work with professionals

  • Minimize tax liabilities

  • Amend or revoke a will or trust

  • Avoid common estate planning mistakes

Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.

Note: CD-ROM/DVD and other supplementary materials are not included.

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Wills Trusts Kit For Dummies by Aaron Larson Wills Trusts Kit For - photo 1

Wills & Trusts Kit For Dummies

by Aaron Larson

Wills Trusts Kit For Dummies Published by Wiley Publishing Inc 111 River - photo 2

Wills & Trusts Kit For Dummies

Published by
Wiley Publishing, Inc.
111 River St.
Hoboken, NJ 07030-5774
www.wiley.com

Copyright 2009 by Wiley Publishing, Inc., Indianapolis, Indiana

Published simultaneously in Canada

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400, fax 978-646-8600. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions.

Trademarks: Wiley, the Wiley Publishing logo, For Dummies, the Dummies Man logo, A Reference for the Rest of Us!, The Dummies Way, Dummies Daily, The Fun and Easy Way, Dummies.com, Making Everything Easier!, and related trade dress are trademarks or registered trademarks of John Wiley & Sons, Inc. and/or its affiliates in the United States and other countries, and may not be used without written permission. All other trademarks are the property of their respective owners. Wiley Publishing, Inc., is not associated with any product or vendor mentioned in this book.

Limit of Liability/Disclaimer of Warranty: The publisher and the author make no representations or warranties with respect to the accuracy or completeness of the contents of this work and specifically disclaim all warranties, including without limitation warranties of fitness for a particular purpose. No warranty may be created or extended by sales or promotional materials. The advice and strategies contained herein may not be suitable for every situation. This work is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional services. If professional assistance is required, the services of a competent professional person should be sought. Neither the publisher nor the author shall be liable for damages arising herefrom. The fact that an organization or Website is referred to in this work as a citation and/or a potential source of further information does not mean that the author or the publisher endorses the information the organization or Website may provide or recommendations it may make. Further, readers should be aware that Internet Websites listed in this work may have changed or disappeared between when this work was written and when it is read.

For general information on our other products and services, please contact our Customer Care Department within the U.S. at 877-762-2974, outside the U.S. at 317-572-3993, or fax 317-572-4002.

For technical support, please visit www.wiley.com/techsupport.

Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books.

Library of Congress Control Number: 2008930530

ISBN: 978-0-470-28371-4

Manufactured in the United States of America

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Picture 3

About the Author

Aaron Larson is an attorney practicing law in Ann Arbor, Michigan, where he lives with his wife and daughter. After graduating from the University of Michigan Law School, Aaron started practice as a quintessential small town lawyer, providing legal services that included estate planning, probate, and guardianship services. He subsequently worked for the Institute of Continuing Legal Education in Ann Arbor, Michigan, where he developed professional education programs for lawyers in areas including estate planning, litigation, and family law. His present legal practice focuses on civil appeals. He operates the ExpertLaw Web site (www.expertlaw.com), offering free legal information and assistance to consumers, as well as resources for legal professionals.

Dedication

To my wife Laura and our wonderful daughter Emma.

Authors Acknowledgments

I would like to thank the following people for their invaluable contributions to this book.

Publishers Acknowledgments

Were proud of this book; please send us your comments through our online registration form located at http://dummies.custhelp.com. For other comments, please contact our Customer Care Department within the U.S. at 877-762-2974, outside the U.S. at 317-572-3993, or fax 317-572-4002.

Some of the people who helped bring this book to market include the following:

Acquisitions, Editorial, and Media Development

Project Editor: Kelly Ewing

Acquisitions Editor: Michael Lewis

Editorial Program Coordinator: Erin Calligan Mooney

General Reviewer: Joseph Maguire

Associate Project Manager: Jenny Swisher

Assistant Producer: Kit Malone

Quality Assurance: Shawn Patrick

Senior Editorial Manager: Jennifer Ehrlich

Editorial Supervisor and Reprint Editor: Carmen Krikorian

Editorial Assistant: Joe Niesen

Cover Photos: Blend Images

Cartoons: Rich Tennant (www.the5thwave.com)

Composition Services

Project Coordinator: Erin Smith

Layout and Graphics: Carl Byers, Reuben W. Davis, Melissa K. Jester Christine Williams

Proofreaders: Melissa Bronnenberg,John Greenough, Linda Seifert

Indexer: Potomac Indexing, LLC

Special Help: Cynthia Davis-Hubler

Publishing and Editorial for Consumer Dummies

Diane Graves Steele, Vice President and Publisher, Consumer Dummies

Kristin Ferguson-Wagstaffe, Product Development Director, Consumer Dummies

Ensley Eikenburg, Associate Publisher, Travel

Kelly Regan, Editorial Director, Travel

Publishing for Technology Dummies

Andy Cummings, Vice President and Publisher, Dummies Technology/General User

Composition Services

Gerry Fahey , Vice President of Production Services

Debbie Stailey , Director of Composition Services

Introduction

Congratulations. Simply by opening this book you have put yourself a step ahead of most people. Yes, its tough to think about what will happen to your family after you die, but confronting these issues is part of taking care of your family.

My goal in writing this book is to give you the information and resources you need to create an estate plan. This book includes do-it-yourself tools to help you draft your own estate planning documents.

But dont go thinking that this book will help you only if you want to create your own will and trust. Its much broader in focus. I want you to be comfortable with estate planning documents, but also to recognize when youll benefit from professional estate planning services.

I am of the strong opinion that everybody needs an estate plan, and especially a will. With this book, anybody can create a simple will, even if it serves just as a stopgap before hiring a professional.

About This Book

Wills and Trusts Kit For Dummies is written in language that is easy to understand. It covers the basic issues in planning your estate, but also delves into the details and complications you can encounter in choosing your estate plan and creating a will or trust.

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