Your Will and Estate Plan: How to Protect Your Estate and Your Loved Ones

For anyone concerned about the financial security of their loved ones, here's everything you need to know about avoiding costly probate and establishing an efficient will and estate plan! Easy to understand and filled with dozens of real-life examples, Your Will & Estate Plan explains how to set up a will, select beneficiaries, select and establish the right trusts, protect assets against Medicaid claims, and much more.This valuable and authoritative guide features important advice on such sensitive issues as setting up a will when death is impending, managing the assets of one's parents, making legal arrangements for common-law and same-sex couples, and planning for the care of disabled children or mentally impaired relatives. It also shows how to transfer financial assets and property at minimum expense and maximize the protection of property against transfer taxes and other expensive fees.Filled with a wealth of worksheets, sample will forms, and a handy glossary of terms, Your Will & Estate Plan applies to estates of all sizes and not only saves loved ones thousands of dollars in attorney costs but also a lot of unintended nightmares. For anyone concerned about the financial security of loved ones, here's everything you need to know about avoiding costly probate and establishing an efficient will and estate plan. Easy to understand and filled with dozens of real-life examples, Your Will and Estate Plan explains how to set up a will, select beneficiaries, select and establish the right trusts, protect assets against Medicaid claims, and much more. This valuable and authoritative guide features important advice on such sensitive issues as setting up a will when death is impending; managing the assets of one's parents; making legal arrangements for common-law and same-sex couples; and planning for the care of disabled children or mentally impaired relatives. It also shows how to transfer financial assets and property against transfer taxes and other expensive fees. Filled with a wealth of worksheets, sample will forms, and a handy glossary of terms, this guide applies to estates of all sizes. Generally, the state where you live has the jurisdiction to administer all of the real property (land and whatever is attached to the surface, such as buildings and trees) owned by you in that place as well as all tangible and intangible personal property located anywhere (tangible property is movable property that has a value of its own, as opposed to intangible property, which is usually rights to property or evidence of value, such as copyrights, easements, franchises, and stock certificates). Accompanied by real-world examples, worksheets, sample will forms, and a glossary of terms, an essential resource furnishes a wealth of practical advice for setting up a will, choosing beneficiaries, selecting and establishing the right truest, protecting assets against Medicaid, and much more. Original. Written by an attorney specializing in trusts and estates, this guide for the general reader discusses the basics of passing wealth from one generation to the next. A sampling of topics includes managing the assets of aging parents, providing for the care of disabled or mentally impaired relatives,