Estate Planning For Dummies

Planning your own demise is never easy, but made easier with a good, basic reference like this. While it may not substitute for an estate planner, it will give you the concepts and language. It will also give you current trends, like getting better deals through pre-planning. At www.architarium.com, we are seeing a boom in advance purchase of mausoleum spaces, which is not only a cost savings but an investment as spaces are now traded nationally. Plan the funeral you want while making financially sound decisions. Your survivors will thank you.

I read a lot of Dummies books, and one thing I really like about them is that they are usually well organized. Estate Planning for Dummies is no exception. The authors start with relatively simple concepts like just what is your estate and how to figure out how much it's worth, and then move on to wills. There is lots I didn't know about wills, such as what they discuss about probate. Then they move into trusts, and do a good job since they get right to the heart of the matter and help you figure out whether or not trusts even make sense, depending on your particular situation. I also thought the chapters on estate taxes were well done, too. I knew about the federal estate tax, which doesn't apply to me, but I was unaware of gift taxes, state inheritance taxes, and the estate recovery act.All in all, I now have a much better idea of estate planning and even picked up a few hints to talk to my lawyer about for adjusting my will, which I already had but hadn't updated in a long time. That's another thing the authors do well, which is mention over and over how you need to regularly update your will, your insurance, and everything else that's part of your estate planning.

Just the information alone about the federal estate tax trap on how my life insurance policy was set up, and the estate taxes that would have unnecessarily been owed, made this book the best thing I could have found for my estate planning. I was also getting overwhelmed with all of the ads I'd hear about on the radio and see in the newspaper about living trusts and was nervous that people were just trying to sell me something. After reading this book, I have a much better idea of living trusts and all kinds of other trusts, and feel much more confident deciding what makes sense for me.Another thing I really liked is that the authors very clearly describe what you can and should do yourself, and what you should work on with (as they put it) your estate planning team (lawyer, accountant, etc.). The good news is that after reading this book, I now have a much better idea of what my estate planning needs to include. The bad news is that I also realize how much I still have to do! Fortunately, I have a pretty good roadmap now. I strongly recommend this book to anyone who wants to get a handle on everything that estate planning includes (which I didn't realize was nearly as much as the authors cover).