8 Ways to Avoid Probate: The plain-English guide to saving your family thousands of dollars

by Randolph, Mary

• ISBN13: 9781413300703
• ISBN10: 1413300707
• Edition: 5th
• Format: Paperback
• Copyright: 2004-05-10
• Publisher: Nolo

Summary

Attorney Mary Randolph details eight key strategies to avoiding the probate money pit, including how to:* set up payable-on-death bank accounts* name a beneficiary for retirement accounts* register stocks & bonds, and vehicles, in transfer-on-death forms* hold property in joint ownership* take advantage of special procedures for small estates* create a living trust* give away property nowIncludes worksheets and sample letters, as well as state-by-state charts that pinpoint which strategies are viable in each state.*Recommended by Modern Maturity*Book of the Month Club selection

Table of Contents

INTRODUCTION THINKING ABOUT PROBATE AVOIDANCE
A. WHY IT'S WORTH YOUR WHILE TO AVOID PROBATE	Intro/2
B. WHAT PROBATE AVOIDANCE CAN'T CHANGE	Intro/6
C. COMPARING PROBATE-AVOIDANCE METHODS	Intro/10
D. A LICK OF COMMON SENSE	Intro/13
CHAPTER 1 SET UP PAYABLE-ON-DEATH ACCOUNTS
A. THE PAPERWORK	1/3	(1)
B. ADDING A P.O.D. DESIGNATION TO A JOINT ACCOUNT	1/5	(1)
C. CHOOSING BENEFICIARIES	1/7	(1)
D. IF A BENEFICIARY DIES BEFORE YOU DO	1/16	(1)
E. IF YOU CHANGE YOUR MIND	1/17	(1)
F. CLAIMING THE MONEY	1/20	(1)
CHAPTER 2 NAME A BENEFICIARY FOR YOUR RETIREMENT ACCOUNTS
A. CHOOSING A BENEFICIARY	2/3	(1)
B. REQUIRED DISTRIBUTIONS FROM RETIREMENT ACCOUNTS	2/14	(1)
CHAPTER 3 NAME A BENEFICIARY FOR STOCKS AND BONDS
A. TRANSFER-ON-DEATH REGISTRATION	3/2	(1)
B. REGISTRATION OF GOVERNMENT BONDS AND NOTES	3/12	(1)
CHAPTER 4 NAME A BENEFICIARY FOR YOUR VEHICLES
A. TRANSFER-ON-DEATH REGISTRATION	4/2	(1)
B. JOINT OWNERSHIP WITH THE RIGHT OF SURVIVORSHIP	4/5	(1)
C. SPECIAL TRANSFER PROCEDURES FOR VEHICLES	4/7	(1)
CHAPTER 5 HOLD PROPERTY IN JOINT OWNERSHIP
A. KINDS OF JOINT OWNERSHIP THAT AVOID PROBATE	5/2	(1)
B. JOINT TENANCY	5/4	(1)
C. TENANCY BY THE ENTIRETY	5/15	(1)
D. COMMUNITY PROPERTY	5/17	(1)
E. ALTERNATIVES TO JOINT OWNERSHIP	5/27	(1)
CHAPTER 6 CREATE A LIVING TRUST
A. HOW A LIVING TRUST AVOIDS PROBATE	6/4	(1)
B. OTHER ADVANTAGES OF A LIVING TRUST	6/8	(1)
C. WHY YOU STILL NEED A WILL	6/12	(1)
D. DO YOU REALLY NEED A LIVING TRUST?	6/12	(1)
E. CREATING A VALID LIVING TRUST	6/15	(1)
F. WHAT PROPERTY TO PUT IN A TRUST	6/23	(1)
G. TAXES AND RECORDKEEPING	6/30	(1)
H. AMENDING OR REVOKING A LIVING TRUST DOCUMENT	6/31	(1)
CHAPTER 7 TAKE ADVANTAGE OF SPECIAL PROCEDURES FOR SMALL ESTATES
A. WHY EVEN LARGE ESTATES MAY QUALIFY	7/3	(1)
B. CLAIMING WAGES WITH AN AFFIDAVIT	7/6	(1)
C. CLAIMING OTHER PROPERTY WITH AFFIDAVITS	7/8	(1)
D. SIMPLIFIED COURT PROCEDURES	7/18	(1)
CHAPTER 8 MAKE GIFTS
A. THE FEDERAL GIFT TAX	8/3	(1)
B. MAKING TAX-FREE GIFTS	8/5	(1)
C. GIFTS THAT COULD LAND YOU IN TAX TROUBLE	8/9	(1)
D. WHAT TO GIVE	8/12	(1)
E. GIFTS TO CHILDREN	8/14	(1)
F. THINKING BEFORE YOU GIVE	8/17	(1)
CHAPTER 9 USING THE EIGHT WAYS
A. ALICE AND FRANK: A SIMPLE LIFE	9/2	(1)
B. MARIA: DEALING WITH WIDOWHOOD	9/5	(1)
C. MIKE: MIDLIFE CONCERNS	9/8	(1)
D. JIM AND TERRY: AN UNMARRIED COUPLE	9/10	(1)
E. ESTHER AND MARK: NEW LOVE, OLD MONEY	9/13	(1)
F. LINDA AND TOMAS: COMFORTABLE	9/16
GLOSSARY
INDEX