Basic Wills, Trusts, And Estates for Paralegals

by Helewitz, Jeffrey A.

• ISBN13: 9780735551114
• ISBN10: 0735551111
• Edition: 3rd
• Format: Paperback
• Copyright: 2005-09-22
• Publisher: Wolters Kluwer
• More Book Details
• Purchase Benefits

Summary

The concise text that was designed specifically to give paralegal students an overview of Wills, Trust, and Estates enters its Third Edition with new and expanded coverage. The book facilitates teaching and learning through: a quick, simple, and straightforward introduction to all the basics of wills, trusts, and estates law, specifically tailored To The needs of paralegal students comprehensive coverage of key topics, including a review of the sources of property law clearly written text and lively examples that help students Understand The law helpful guidance on how to draft wills and trusts documents step-by-step review of how to complete the entire federal estate tax return well-crafted pedagogy: chapter overviews, highlighted examples, key terms, review questions, sample clauses for analysis, case studies, chapter summaries, and end-of-chapter exercises appendix with useful forms manageable length, which makes the book ideal for shorter courses BASIC WILLS, TRUSTS, AND ESTATES FOR PARALEGALS, Third Edition, Is totally up to date: new chapter on elder care issues, including such topics as concerns of adults dealing with elderly parents and estate planning issues specific to elderly clients expanded coverage of right to die concerns, with more on health care proxies and do not resuscitate orders new exercises throughout the book updated case studies throughout the book Please visit the new companion website to learn more about this book. Website: http://www.aspenlawschool.com/helewitz_wills3

Table of Contents

Preface	xix
Acknowledgments	xxi
Introduction	xxiii
CHAPTER 1: GENERAL OVERVIEW OF ESTATE PLANNING AND ESTATE ADMINISTRATION	1	(20)
Chapter Overview	1	(1)
Estate Planning	2	(2)
Estate Planning Strategies	4	(4)
Gifts	4	(1)
Title Transfers	5	(1)
Trusts	6	(1)
Life Insurance	6	(1)
Wills	7	(1)
How to Make an Effective Estate Plan	8	(1)
Situational Analysis	9	(2)
Estate Administration	11	(4)
Situational Analysis	15	(1)
Chapter Summary	16	(1)
Key Terms	17	(1)
Case Studies	18	(2)
Exercises	20	(1)
Analytical Problem	20	(1)
CHAPTER 2: SOURCES OF PROPERTY	21	(28)
Chapter Overview	21	(1)
Types of Property	22	(1)
Real Property	23	(19)
Concurrent Ownership	24	(5)
Tenancy in Common	24	(1)
Joint Tenancy	25	(2)
Tenancy by the Entirety	27	(1)
Community Property	28	(1)
Tenancy in Partnership	28	(1)
Life Estates	29	(2)
Leaseholds	31	(1)
Other Interests in Real Property	32	(3)
Mortgage	32	(1)
Easements	32	(1)
Liens	33	(1)
Elective Share	33	(2)
Personal Property	35	(1)
General Tangibles	35	(1)
Intangibles	36	(29)
General Intangibles	36	(3)
Intellectual Property	39	(1)
Claims and Benefits	40	(2)
Situational Analysis	42	(1)
Chapter Summary	43	(1)
Key Terms	44	(2)
Case Studies	46	(1)
Exercises	47	(1)
Analytical Problem	48	(1)
CHAPTER 3: THE LAWS OF SUCCESSION	49	(14)
Chapter Overview	49	(1)
Intestate Succession Defined	50	(1)
How Intestate Succession Works	51	(3)
Situational Analysis	54	(1)
Intestate Administration	55	(2)
The Effect of the Laws of Succession	57	(1)
Situational Analysis	58	(1)
Chapter Summary	59	(1)
Key Terms	59	(1)
Case Studies	60	(2)
Exercises	62	(1)
Analytical Problem	62	(1)
CHAPTER 4: TRUSTS	63	(48)
Chapter Overview	63	(2)
Trust Requirements	65	(13)
A Trustor	65	(2)
Trust Property	67	(1)
A Valid Trust Purpose	68	(2)
A Trustee	70	(5)
A Beneficiary	75	(3)
Types of Trusts	78	(7)
Express Trusts	78	(2)
Implied Trusts	80	(2)
Special Situation Trusts	82	(3)
Spendthrift Trusts	82	(1)
Short-Term Trusts	83	(1)
Supplemental Needs Trusts	83	(1)
Totten Trusts	84	(1)
Marital Deduction Trusts	84	(1)
Life Insurance Trusts	85	(1)
Creation of the Trust	85	(2)
Inter Vivos Trusts	86	(1)
Testamentary Trusts	87	(1)
Restrictions on Trusts	87	(5)
Statute of Uses	87	(1)
Rule Against Perpetuities	88	(2)
Investments and Roles of the Parties	90	(1)
Restrictions on Trust Purpose	91	(1)
Termination of Trusts	92	(2)
Tax Considerations	94	(3)
General	94	(1)
Short-Term Trusts	95	(1)
Generation Skipping Transfers	96	(1)
Drafting a Trust	97	(5)
Situational Analysis	102	(1)
Chapter Summary	103	(1)
Key Terms	104	(3)
Case Studies	107	(1)
Exercises	108	(1)
Analytical Problem	109	(2)
CHAPTER 5: WILLS	111	(44)
Chapter Overview	111	(1)
Testamentary Capacity	112	(4)
Age	112	(1)
Mental Ability	112	(2)
Intent	114	(2)
Fraud	114	(1)
Menace	114	(1)
Undue Influence	115	(1)
Temporary Incapacity	116	(1)
Will Provisions	116	(4)
Surviving Spouse	116	(1)
Antenuptial Agreements	117	(1)
Omitted Children	117	(1)
Advancements	118	(1)
Charitable Gifts	118	(1)
Ademption	118	(1)
Lapsed Gifts	119	(1)
Abatement	119	(1)
Drafting a Will	120	(11)
Preparation	120	(2)
Clauses	122	(9)
Executing a Will	131	(5)
Witnesses	131	(1)
Execution	132	(1)
Self-Proving Wills	133	(1)
Miscellaneous Instruments	134	(2)
Nuncupative Wills	134	(1)
Holographic Wills	134	(1)
Statutory Wills	135	(1)
Living Wills	135	(1)
Power of Attorney	135	(1)
Changing the Will	136	(3)
Amendment Through Codicils	136	(1)
Amendment Through Operation of Law	137	(1)
Revocation	138	(1)
Will Contests	139	(3)
Sample Will and Accompanying Documents	142	(7)
Situational Analysis	149	(1)
Chapter Summary	150	(1)
Key Terms	150	(2)
Case Studies	152	(1)
Exercises	153	(1)
Analytical Problem	154	(1)
CHAPTER 6: ESTATE PLANNING FOR THE ELDERLY	155	(32)
Chapter Overview	155	(1)
Health Care and the Elderly	156	(5)
Medicare	156	(3)
Medicaid	159	(1)
Related Health Care Documents	160	(1)
Guardianship	161	(3)
Income Maintenance	164	(5)
Social Security	165	(1)
Supplemental Security Income	166	(1)
Veterans' Benefits	166	(1)
Private Pension Plans	167	(1)
Plans Funded by the Individual	167	(1)
Plans Funded by the Individual's Employer	168	(1)
Ethical Concerns	168	(1)
Situational Analysis	169	(1)
Chapter Summary	170	(1)
Key Terms	171	(1)
Case Studies	172	(2)
Exercises	174	(1)
Analytical Problem	174	(1)
Social Security Form	175	(12)
CHAPTER 7: ESTATE ADMINISTRATION	187	(44)
Chapter Overview	187	(1)
The Preprobate Process	188	(8)
Death Certificate	188	(3)
Exhibit 1. Death Certificate	190	(1)
Petition to Open Safe Deposit Box	191	(2)
Exhibit 2. Petition to Open Safe Deposit Box	192	(1)
Petition to Search	193	(2)
Exhibit 3. Petition to Search	194	(1)
Petition for Guardian ad Litem	195	(1)
Petition for Family Allowance	195	(1)
Petition for Interim (Preliminary, Temporary) Letters	195	(1)
Probate Administration	196	(24)
Exhibit 4. Informal Proceeding Forms	197	(7)
Petition for Letters of Administration	204	(2)
Exhibit 5. Petition for Letters of Administration	205	(1)
Petition for Letters Testamentary	206	(3)
Exhibit 6. Petition for Letters Testamentary	207	(2)
Notice and Waivers of Notice	209	(7)
Exhibit 7. Notice and Waivers	210	(6)
Probate Hearing	216	(1)
Letters	216	(18)
Exhibit 8. Orders and Letters	218	(2)
Estate Administration	220	(6)
Exhibit 9. Final Accounting	223	(3)
Chapter Summary	226	(1)
Key Terms	227	(1)
Case Studies	228	(1)
Exercises	229	(1)
Analytical Problem	230	(1)
CHAPTER 8: TAXATION	231	(24)
Chapter Overview	231	(2)
Federal Tax Law	233	(1)
Federal Tax Forms	234	(13)
SS-4: Application for Employer I.D. Number	234	(1)
Form 706—United States Estate and Generation Skipping Transfer Tax Return	234	(2)
Form 706 Schedules Relating to Assets	236	(7)
Schedule A: Real Estate	236	(1)
Schedule B: Stocks and Bonds	237	(2)
Schedule C: Mortgages, Notes, and Cash	239	(1)
Schedule D: Insurance on Decedent's Life	239	(1)
Schedule E: Jointly Held Property	240	(1)
Schedule F: Other Miscellaneous Property	241	(1)
Schedule G: Transfers During Decedent's Life	241	(1)
Schedule H: Powers of Appointment	242	(1)
Schedule I: Annuities	242	(1)
Form 706 Schedules Relating to Deductions	243	(2)
Schedule J: Funeral and Administrative Expenses	243	(1)
Schedule K: Debts of the Decedent	243	(1)
Schedule L: Net Losses During Administration	244	(1)
Schedule M: Bequests to Surviving Spouse	244	(1)
Schedule N: Qualified ESOP Sales	244	(1)
Schedule O: Charitable, Public, and Similar Gifts and Bequests	244	(1)
Form 706 Schedules Relating to Credits	245	(1)
Schedule P: Credit for Foreign Taxes Paid	245	(1)
Schedule Q: Credit for Tax on Prior Transfer	245	(1)
Schedule R: Generation Skipping Transfer	246	(1)
Schedule S: Excess Retirement Accumulations	246	(1)
Form 1041—Fiduciary Income Tax Return	246	(1)
Form 1040—U.S. Individual Income Tax Return	246	(1)
Situational Analysis	247	(1)
Chapter Summary	247	(2)
Key Terms	249	(1)
Case Studies	249	(2)
Exercises	251	(2)
Analytical Problem	253	(2)
CHAPTER 9: COMPARISON OF ESTATE LAW IN THE DIFFERENT JURISDICTIONS	255	(50)
Chapter Overview	255	(1)
State-by-State Analysis	256	(47)
Chapter Summary	303	(1)
Exercises	303	(2)
APPENDIX: FORMS	305	(146)
Glossary	451	(10)
Index	461