Are you looking to get the best possible understanding of estate planning?
If so, books can be a great way to gain insight and knowledge on this complex subject. Reading through reviews of different titles written by industry professionals can help guide your decision-making process when it comes time to make your selection. In this blog post, we'll take a look at some of the top choices for estate planning books, sharing key highlights and pros/cons associated with each one. Read on for our breakdown of the best estate planning books today!
How We Choose These Best Books for You
Estate planning is a complex process that can be difficult to understand.
Making sure your estate is handled properly is critical, but the process can be confusing. You may not know where to start or what questions to ask.
We've done the hard work for you and put together a list of the best estate planning books. These books will help you understand the process and make informed decisions about your estate.
1. Beyond the Estate Plan Guide by Judith Guertin
Important Details Your Family Needs When You Are Not Here to Tell Them
to organize important documents, create an inventory list of assets and liabilities, transfer money securely between generations, serve as an executor or trustee, handle dispute resolution, and more.
What Is This Book About
Estate planning can often seem overwhelming, but having a plan in place is crucial to ensure that your assets are passed according to your wishes. Beyond the Estate Plan Guide by Judith Guertin helps you create an effective and safe estate plan for your future.
The guide walks you through the necessary steps needed for a comprehensive plan. With helpful checklists, detailed instructions, and ever-changing updates on legal and tax matters, the guide will provide clarity without any confusion. In this comprehensive guide filled with relevant information, you’ll learn how to organize important documents, create an inventory list of assets and liabilities, transfer money securely between generations, serve as an executor or trustee, handle dispute resolution, and more.
Why You Will Love It
You will love Beyond the Estate Plan Guide by Judith Guertin because it is a wealth of knowledge that condenses decades of professional productivity and organization wisdom into 80 pages, making it easier than ever to get and stay organized. You'll love her calm method, which breaks the task into four logical processes. You may also be amazed at how many forms are packed into this book--reproducible forms that the author created to help her clients stay on track. You'll rest easy knowing that getting organized has never been so simple!
2. Estate Planning for the Sandwich Generation by Catherine Hodder
How to Help Your Parents and Protect Your Kids
This book guides readers through the often-confusing process of understanding what type of estate planning documents they are likely to need and provides step-by-step instructions on creating them.
What Is This Book About
This book covers all aspects of estate planning for the “Sandwich Generation” including wills and other documents, tax considerations, legal issues, asset protection, and how to plan for incapacity in a way that will respect your parents' wishes. It guides readers through the often-confusing process of understanding what type of estate planning documents they are likely to need and provides step-by-step instructions on creating them.
It also offers advice on how to talk with loved ones about difficult topics like estate planning and create an action plan that takes into account the needs of both their aging parents as well as their children - all without taking away from time spent together with families and friends.
Furthermore, it will set you up to plan for your own estate to make things easier on your kids.
With this comprehensive guide, you can get started on making sure everyone in your family is taken care of.
Why You Will Love It
This book is designed to arm you with the tools needed to plan for your future. It gives a comprehensive guide to understanding and taking control of your estate planning. You'll learn 10 easy steps to create an estate plan, gain insight into conversations to have with parents, and understand the action items for specific circumstances such as marriage or death in the family. Furthermore, it provides questions you should ask and resources for caregivers so you can make sure that your loved ones are taken care of. With this book, you have everything you need to ensure your family’s future.
3. Get It Together by Melanie Cullen
Organize Your Records So Your Family Won't Have To
This book provides an easy method to help both you and others stay organized. You won't be overwhelmed with where everything is or what everyone's passwords are because they're all neatly stored away in one simple place.
What Is This Book About
This book provides an easy method to help both you and others stay organized. You can store secured places and passwords, employment records, insurance policies, real estate records, tax records, retirement accounts, estate planning documents, funeral arrangements as well as letters to our loved ones in one place. You'll never have to try and search for any of the listed things mentioned again! You won't be overwhelmed with where everything is or what everyone's passwords are because they're all neatly stored away in one simple place.
Why You Will Love It
"Get It Together" by Melanie Cullen provides an easy method to help both you and others stay organized. You can store secured places and passwords, employment records, insurance policies, real estate records, tax records, retirement accounts, estate planning documents, funeral arrangements as well as letters to our loved ones in one place. You'll never have to try and search for any of the listed things mentioned again! You won't be overwhelmed with where everything is or what everyone's passwords are because they're all neatly stored away in one simple place.
4. Beyond the Grave by Jeffrey L. Condon
The Right Way and The Wrong Way of Leaving Money to Your Children
If you want to give your children the best possible inheritance, free from the risk of creditors, taxes, mismanagement, and more, this book is the right choice.
What Is This Book About
Are you concerned about how your hard-earned money will be used and divided when you pass away? Do you want to give your children the best possible inheritance, free from the risk of creditors, taxes, mismanagement, and more? Look no further - Beyond the Grave: The Right Way and the Wrong Way of Leaving Money to Your Children (and Others) by Jeffrey L. Condon is here to help!
This expert guide offers a one-of-a-kind handbook for those who want personalized advice on how to make sure their family inheritance is utilized the way they desire. With this book in hand, know that the finances accumulated over your lifetime are safe and beneficial for your children’s future. Inside you will learn how to:
• Ensure that your instructions are properly carried out
• Protect inheritances from creditors and ex-spouses
• Guard against tax troubles and squandering of funds
• Leave more money behind while paying less to the government
• Address estate tax issues even if net worth falls below a certain exemption.
The greatest gift you can leave your family is peace of mind. With Beyond the Grave by Jeffrey L. Condon’s foundational guidelines for smart inheritance planning, know that this invaluable asset remains within reach even after you have gone.
Why You Will Love It
You will love Beyond the Grave by Jeffrey L. Condon for its comprehensive coverage of advanced estate planning techniques. You'll benefit from the examples it provides, in which real-life client situations are documented expertly and explained with great clarity so that anyone can understand the concept. Learning what you need to do to plan your estate efficiently has never been easier thanks to the revised and updated edition of this book!
5. The Complete Book of Wills, Estates & Trusts by Alexander A. Bove Jr.
Advice That Can Save You Thousands of Dollars in Legal Fees and Taxes
With this book you will gain knowledge of every legal aspect involved, be it taxes or choosing the right lawyer, all explained in a straightforward and friendly manner.
What Is This Book About
If you are looking for an invaluable resource to help protect your estate, The Complete Book of Wills, Estates & Trusts: Advice That Can Save You Thousands of Dollars in Legal Fees and Taxes by Alexander A. Bove Jr. has the answers. In this completely revised fourth edition, you’ll find updated coverage on changes in estate law from experienced attorneys Alexander A. Bove, Jr., and Melissa Langa. Whether you have modest or extensive assets, this book will guide you through gaining a better understanding of creating wills and living trusts, understanding how trusts work and serve as a way to save taxes, ensuring probate is avoided legally as well as complications from it, finding out how to contest a will or avoid being contested against, settling your estate or making a claim against one if necessary, and becoming knowledgeable on durable powers of attorney. With honest explanations interpreted into entertaining formats with decades of field and classroom experience documented within the covers of this valuable guidebook needing only the majority of language skills needed by those 18 years old or older—you’ll be equipped with the information required to ensure that loved ones receive the best protection possible after your passing.
Why You Will Love It
The Complete Book of Wills, Estates & Trusts by Alexander A. Bove Jr. is the complete guide readers need to ensure their money and assets remain with their family. You will gain knowledge of every legal aspect involved, be it taxes or choosing the right lawyer, all explained in a straightforward and friendly manner. The authors also include amusing examples and actual court cases to make learning easier. You won't want any other book after this one, as you will quickly get an all-in-one understanding of how best to protect your legacies!
Additional Books for You
#6 “ABA/AARP Checklist for My Family: A Guide to My History, Financial Plans, and Final Wishes,” by Sally Balch Hurme - This checklist from the American Bar Association (ABA) and the AARP will help you get everything organized and together so your loved ones are prepared.
#7 Living Trusts for Everyone: Why a Will Is Not the Way to Avoid Probate, Protect Heirs, and Settle Estates,” by Ronald Farrington Sharp - This book gives you the tools to set up a your living trust by yourself or to negotiate lower lawyer fees.
Best Estate Planning Books FAQs
People have a lot of questions about estate planning, but they don't know who to ask.
Estate planning can be confusing and overwhelming. There are so many things to think about, and it's hard to know where to start.
We've compiled the most frequently asked questions about estate planning into one easy-to-read guide. This guide will answer your questions and help you get started on creating an estate plan that is right for you.
What are the 5 most important estate planning documents?
Estate planning is a crucial part of financial security, particularly for business owners, retirees, and families with substantial assets. The five most important components of a comprehensive estate plan are:
1. A Will: This document outlines how you would like your property and valuables to be distributed after death. It also stipulates who will inherit your possessions and make decisions on behalf of any minors not yet legally able to do so themselves.
2. Durable Power of Attorney (POA): This document allows you to designate someone whom you trust—usually an attorney or other trusted family member—to manage finances on your behalf if you become incapacitated or unable to do so yourself due to physical or mental injury or illness.
3. Health Care Directive: Also known as an Advance Directive, this legal form allows you to express your wishes regarding life-sustaining treatments if death seems imminent due to health complications such as terminal illnesses or old age-related conditions like dementia or Alzheimer’s Disease.
4. Revocable Living Trust: Also referred to as a “revocable inter vivos trust”, this type of contract enables individuals with high net worth estates to transfer their property into the hands of trustees who are responsible for managing those assets according to those set out by the creator(s) prior their death (or incapacity). These trusts are typically used when avoiding taxation upon distributing assets is desired; however, they can also be used for other reasons too such as avoiding probate court procedures which can take time long periods even years at times.
5 Life Insurance Policy: Investing in life insurance may help beneficiaries replace lost income after death occurs by paying them benefits that survivors receive instead thereof from employer-provided coverage.
All these documents must be updated regularly given changing rules and regulations affecting taxes savings vehicles etc. Therefore it is strongly recommended that highly qualified Estate Planning Attorneys should be consulted regularly regarding best practices before making any decisions where significant potential risks could arise if not executed correctly either through ignorance oversight human error etc...
What assets should be considered when planning your estate?
When planning your estate, it's important to consider all the assets you have and how they should be distributed among beneficiaries upon your death. While everyone's situation is different, certain assets should be taken into account when making such decisions.
First, any intangible investments like stocks, bonds, or other financial products need to be included in an estate plan.
These investments may generate income for the beneficiaries of the estate if properly managed; however, they can also certainly become a source of complexity and stress if not handled correctly.
Additionally, retirement accounts including 401(k) plans and IRAs should also be considered when creating an estate plan. Distributions from these accounts are often taxable according to federal regulations so it’s important to understand how taxes may affect them both during your lifetime and posthumously about inheritance laws. Real property including land, homes, or other structures should also be included in an estate plan as they can provide a stream of steady income via rental payments or capital appreciation depending on their location and condition at the time of sale. Finally, liability insurance is essential for protecting against potential damages caused by negligence or accidental harm during the ownership of any real property assets for all parties involved (including legal heirs)to remain financially secure over time. All these factors must come together for an effective estate plan that will ensure proper distribution between beneficiaries upon one’s death while minimizing the potential risk associated with asset ownership outside of one’s lifetime.
What are the 3 steps in the estate planning process?
Estate planning is an important process that helps ensure your wishes are carried out when you're no longer able to make decisions. It also ensures your family is taken care of and your hard-earned assets are transferred by the law. While there may be slight variations depending on where you live, generally speaking, there are three steps involved in estate planning:
1. Assessing Your Assets: The first step in estate planning is determining what assets and liabilities you have. This includes any investments or property you own, debts that need to be paid off, insurance policies, trusts set up by heirs or trusts established for charities, etc. You'll need a detailed list of everything so you can determine who will receive what once you're gone.
2. Making an Estate Plan: Once you know all the details about your assets and liabilities it’s time to develop a plan for how those items should be distributed upon death or incapacity (if applicable). This usually involves creating a will – either a formal document through an attorney or something informal such as notes accompanying instructions on how to transfer various accounts should something happen—which outlines who gets what upon death including specific gifts as well as beneficiary designations if mandated by financial institutions/insurers governing these particular accounts.
3. Executing Your Estate Plan: After setting up proper legal documentation addressing points 1 and 2, implementation becomes key! This entails making sure all paperwork has been properly filed with respective state agencies such as Probate Court if necessary while ensuring all designated beneficiaries have received their forms granting them access rights to whatever inheritance they’ve received per the Will document created previously.
What is the 5 rule in estate planning?
When it comes to estate planning, five main rules should be followed to ensure your wishes are honored and your estate is properly managed.
The first rule is proper documentation. All important documents such as wills, trusts, power of attorney forms, and medical directives should be carefully crafted by a qualified professional and documented in appropriate records. Furthermore, these documents should be stored securely so they can easily be accessed by you or your appointed proxy.
The second is creating an inventory of assets. It's essential that all pertinent information regarding any property owned (such as real estate or stocks) is noted down as well as its market value at the time of drafting the will it can help minimize tax liabilities during inheritance.
Thirdly, establishing beneficiaries for any assets being transferred upon death is essential when planning one's estate; this includes both tangible assets like jewelry and intangible investments, such as life insurance policies or retirement accounts. It's critical to name primary beneficiaries for each asset so that when you pass away your assets will go where you put them rather than be allocated according to state law if no beneficiary is listed before passing away from mortal life.
Fourthly, create funeral instructions if you're able to do so before passing on from mortal life; this gives those left behind some closure on how best to proceed with memorial services without having guesswork involved in making decisions after the fact--this could include things like what kind of service you'd prefer (religious or non-religious), cemetery selection, etcetera.
Last but not least, appointing a reliable executor who has been given legal authority over the deceased person’s affairs— such tasks may include closing out bank accounts, filing tax returns, collecting debts owed & distributing remaining funds/assets among designated beneficiaries —is mandatory when forming an effective estate plan; this means selecting someone trustworthy who understands what needs to be done.
What is the most important decision in estate planning?
Estate planning is a complex process, requiring decisions about a variety of important matters that include asset protection, taxation matters, and even end-of-life care. Of all the important decisions you make when developing an estate plan, three choices stand out as being particularly critical to ensuring your assets and wishes are faithfully carried out:
1. Establishing Durable Powers of Attorney: Powers of attorney allow you to designate another person—often referred to as an "attorney-in-fact" or agent—to manage your affairs if you become unable to do so yourself due to illness or incapacity.
2. Creating a Will: A will is essential for ensuring that your final wishes regarding the distribution of your estate are respected after you pass away.
3. Deciding on Beneficiary Designations: Life insurance policies and some kinds of retirement plans have beneficiary designations attached which dictate who receives proceeds upon death (as opposed to relying on instructions contained within wills).
To avoid mistakes it is fundamental that you find legal and financial advisors who can help you set up an estate plan and achieve your financial goals.
Conclusion
Whether you are at the beginning stages of estate planning or looking for the best resources available today, these are some great books that can provide invaluable knowledge and advice. These books have been researched, verified, and evaluated to provide the best information possible. Even with so many choices out there, these five books should offer enough materials to cover all of your estate planning needs. From essential financial strategies to expert guidance on trust formation, every one of these guides has thoughtfully organized material that will help you stay in control of your assets and your life. So don’t miss the opportunity to choose one of these books for your collection, and benefit from it for years to come. As always, take the time to do more research if necessary and get proper legal counsel when needed—it’s always worth having great resources in your corner!
