Protect and Enhance Your Estate: Definitive Strategies for Estate and Wealth Planning 3/E

by Esperti, Robert; Peterson, Renno

• ISBN13: 9780071787895
• ISBN10: 0071787895
• Edition: 3rd
• Format: Paperback
• Copyright: 2012-03-13
• Publisher: McGraw-Hill Education

Summary

"Our #1 choice in estate planning books." Ken & Daria Dolan The bestselling guide to securing a sound financial future for you and your loved onesupdated for uncertain times In our time of political, social, and economic upheaval, taking steps to protect your estate isn't enough to provide peace of mind for you or financial security for your loved ones. Given these new levels of uncertainty, you need to reduce risk by using life insurance and other financial products to fund estate planning. This new, fully updated edition of the estate planning classic helps you take your estate planning to the next level. In addition to all the basics on wills, jointly held property, taxation, and philanthropy, Protect and Enhance Your Estatecovers the latest developments regarding: Disability planning Living trusts Asset protection Family limited partnerships Proper use of life and long-term care insurance

Author Biography

Robert A. Esperti, Renno L. Peterson, and David K. Cahoone are nationally preeminent estate planning attorneys who have practiced law together for a combined 100 years. Between them, they have written 26 books and treatises on planning, including the bestselling Loving Trust. They founded and chaired the National Network of Estate Planning Attorneys and the Esperti Peterson Institute for High Net Worth Planning, and created the National Estate Planning Course for the American Institute of Certified Public Accountants.

Table of Contents

Acknowledgments	p. xi
Introduction	p. 1
What Is Estate Planning?	p. 5
It's More than Money
Title	p. 9
How do you own it?
Jointly Held Property	p. 13
Common but Complicated
Disability	p. 19
Living Longer offers new Planning Challenges
No Estate Plan?	p. 29
Big Brother has one for you
Wills	p. 33
what are they?
More on Wills	p. 37
They're not all they're Cracked Up to Be
Probate	p. 41
Red Tape that can be Avoided
The Federal Estate Tax	p. 49
The Final Sting
The Unified System	p. 57
Robbing Peter to Pay Paul
The Gift Tax	p. 61
The Manner of Giving is worth more than the Gift
The Marital Deduction	p. 67
Federal Recognition of a Spouse's Efforts
Community Property	p. 71
Maverick Law in Maverick States
State Death Taxes	p. 75
States need Revenue too
Step-Up in Basis at Death	p. 81
It almost pays to Die
Trusts	p. 85
The Estate Planner's Golf Clubs
The Revocable Living Trust	p. 93
The Foundation of Estate Planning
Funding a Revocable Living Trust	p. 105
Placing all your Eggs in One Basket
Trustees	p. 115
Superagents
Giving Property to Minors	p. 129
Young Ones are Tough to give to
Planning for Children	p. 133
Beliefs and Caring Can Survive Death
Per Stirpes versus Per Capita	p. 141
Serious Latin
Generation Skipping	p. 147
Geometrically Increasing Your Estate
Disinheriting a Spouse	p. 153
Spouses have Rights too
Planning for a Spouse	p. 157
An Incredible Number of Choices
Planning for Unmarried Couples	p. 177
Protecting the Rights of Both Parties
Life Insurance	p. 187
Estate Planning Fuel
Life Insurance	p. 193
What Kind of Fuel do you Need?
Life Insurance	p. 201
How Much Fuel do you Need?
The Irrevocable Life Insurance Trust	p. 209
Having your Cake and Eating it too
Some Estate Planning Solutions	p. 217
Techniques and Gimmicks that do not always work
Freezing Techniques	p. 225
Putting Your Estate in Cold Storage
Discounting the Value of your Estate	p. 235
Reduce Value-and Taxes-by Restructuring your Assets
Protecting Your Assets	p. 243
Safety from Unexpected Liability
Loans to Family Members	p. 255
It's Hard to be your Family's Banker
Sales to Family Members	p. 261
Caveat Emptor
Private Annuities and Self-Canceling Installment Notes	p. 267
The Ultimate Gamble
Personal Residence Trusts	p. 271
Give the House, but not your Home
Retirement Planning	p. 277
Long Life Deserves Good Planning
Special Use Valuation	p. 283
Keeping the Farm in the Family
Using Assets of a Corporation to Pay Death Costs	p. 287
Trading Dollars for Stock
Giving it to Charity	p. 291
Good Works Deserve Good Benefits
An Estate Planning Summary	p. 303
Protecting and Enhancing Your Estate
Getting Organized	p. 309
Federal Estate and Gift Tax Tables	p. 317
Spouses Have Rights Too	p. 321
Estate Planning History	p. 341
Index	p. 347
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