Settling estates for everyone : a practical guide and action plan to handle assets, benefits, taxes, debts, minors, and much more

Settling estates for everyone A practical guide and action plan to handle assets, benefits, taxes, debts, minors, and much more

Ronald Farrington Sharp

Book - 2022

"Learn how to prepare your estate and settle the estates of loved ones. What needs to be done at the death of a loved one? There are four basic steps that must be followed. First is the arrangements for burial or cremation. Then the assets of the deceased have to be inventoried, followed by getting all debts paid and legal requirements met, followed by distributing the assets to the people who are supposed to get them according to the person's will, trust, or state law. The job can be daunting, expensive, and time-consuming; especially if the deceased had not made proper plans for their estate by setting up a will or trust beforehand. Settling a person's estate is something most people, other than lawyers, have never done. H...elp is right here in Settling Estates for Everyone. This book is a guide for those responsible for wrapping up the personal and financial affairs of the deceased. It is a resource identifying the steps that may need to be taken prior to and after a person's death, and a practical guide to assist those who must deal with asset collection and disposition, tax and legal issues, applying for benefits such as Social Security, life insurance, Veterans benefits, debts, dealing with issues involving minor children and employment benefit plans. With this book as a guide, the process of administering and wrapping up a deceased's estate will be much simpler"--

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Subjects
Executors and administrators > United States > Popular works.
Decedents' estates > United States > Popular works.
Probate law and practice > United States > Popular works.
Blank forms.
Genres
Blank forms
Published
New York : Allworth Press [2022]
Language
English
Main Author
Ronald Farrington Sharp (author)
Item Description
Includes index.
Physical Description
xi, 188 pages : forms ; 21 cm
ISBN
9781621537892
  • Introduction
  • Chapter 1. If Death Is Imminent
  • 1. Legal Incapacity/Mental Incompetency
  • 2. Temporary Guardian of Adult
  • 3. Powers of Attorney
  • Chapter 2. Actions to Be Taken Immediately After Death
  • 1. Who Is in Charge of Decisions Regarding Post-Death Decision-Making?
  • 2. Organ Donation
  • 3. Body Donation
  • 4. Cremation
  • 5. Autopsy
  • 6. Transporting Deceased Over State Lines
  • 7. Who Pays for Funeral and Burial Expenses?
  • 8. Planning the Funeral
  • 9. Funeral Costs; the FTC Funeral Rule
  • 10. Funeral Pricing Checklist
  • 11. Prepaid Funeral Contracts: Pros and Cons
  • 12. Obituary
  • 13. Death Certificates
  • Chapter 3. Who's in Charge of the Estate and Who Does What?
  • 1. Dividing Responsibilities; Power of Attorney No Longer Valid.
  • 2. Person Named as Executor/Personal Representative/Trustee Refuses to Accept the Job
  • 3. Lock the House, Feed the Dog: Preserving the Assets
  • 4. Changing Beneficiary Designation if Deceased Was Named
  • 5. Canceling or Memorializing Digital Presence
  • 6. Minor or Disabled Children, Custody, Child Support, Guardianship
  • Chapter 4. Information Gathering
  • 1. Estate Planning Documents
  • 2. Handwritten/Holographic Will
  • 3. Finding the Will or Trust
  • 4. Pour-over Wills
  • 5. Lost Documents
  • Chapter 5. Identifying Estate Assets
  • 1. Deposit Accounts, Investments, Brokerage
  • 2. Passwords to Online Accounts, Computers, Smartphones
  • 3. Safe-Deposit Box
  • 4. Storage Lockers
  • 5. Insurance Policies
  • 6. Self-Employed and Small-Business Owners
  • 7. Accounting Services
  • 8. Employment Benefits, Stock Options, Union Benefits
  • 9. Tax Returns
  • 10. Accounts Receivable, Land Contracts, Personal Loans
  • 11. Loans Made to Children and Other Heirs
  • 12. Prenuptial Agreements
  • 13. Divorce Decrees, Qualified Domestic Relations Order (QDRO) Property Division
  • 14. Alimony
  • Chapter 6. How Is a Small Estate Settled?
  • 1. Small Estates
  • 2. Non-Probate Assets
  • 3. Titled Vehicles, Boats, Manufactured Homes, Trailers
  • 4. Liens on Titles
  • 5. Finding Lost Assets
  • Chapter 7. Debts Owed by the Deceased
  • 1. Notify All Known Creditors; Publication of Notice, Trusts, and Probate
  • 2. Joint Debts, Cosigners
  • 3. Tax Claims, Court-Ordered Fines, and Restitution
  • 4. Mortgages
  • 5. Land Contracts/Contracts for Deed
  • 6. Reverse Mortgages
  • 7. Leases as Landlord or Tenant
  • 8. Vehicle Leases
  • 9. Credit Cards
  • 10. Authorized Users of Credit Cards
  • Chapter 8. Paying Debts, Distributing Assets to Heirs
  • 1. The Insolvent Estate
  • 2. Priority of Claims: Who Gets Paid First
  • 3. Fair Debt Collection Practices Act
  • Chapter 9. The Probate Court Process
  • 1. Will versus Trust
  • 2. Probate Process
  • 3. Reading of the Will
  • 4. Advantages of Probate
  • 5. Settling an Estate with a Revocable Trust
  • 6. Testamentary Trusts versus. Living Trusts
  • 7. A Living Trust Is Not a Will
  • Chapter 10. The Trust Settlement Process
  • 1. Get an Employer Identification Number
  • 2. Beneficiary Accounts
  • 3. Transfer on Death Deeds; Ladybird Deed
  • 4. Real Estate in Other States; Ancillary Probate
  • 5. Time-shares
  • 6. Search for and Identify Other Assets and Debts
  • 7. Liquidate Assets, Pay Allowable Claims, Distribute Assets to Heirs
  • 8. The Trust or Estate Bank Account
  • 9. Personal Property-Who Gets the Stuff and How to Decide
  • 10. Estate Sales, Appraisals, One-of-a-Kind Items
  • Chapter 11. Veterans' Benefits
  • 1. Burial and Memorial Benefits
  • 2. Burial in Arlington National Cemetery
  • 3. Headstones, Markers, Memorial Flags, Medallions
  • 4. Veteran's Pensions and Life Insurance
  • Chapter 12. Social Security Survivors' Benefits
  • 1. How to Apply
  • 2. Immediate Cash Payment
  • 3. Who Is Entitled to Benefits as a Survivor?
  • 4. How Much Are Survivors' Benefits?
  • 5. How Are Benefits Paid?
  • 6. Disability Payments, Divorce
  • Chapter 13. Death Taxes
  • 1. Estate Taxes
  • 2. State Inheritance Tax
  • 3. Estate Income Tax
  • 4. Decedent's Last Income Tax
  • 5. Probate Costs and Fees
  • Chapter 14. Wrapping Up the Estate; Distribution of Assets to Heirs
  • 1. Accounting to Heirs and Courts of Assets, Fees, and Expenses
  • 2. Early or Partial Distributions to Heirs
  • 3. UTMA or UGMA Accounts
  • Chapter 15. Attorneys
  • 1. Fees, Hourly, Flat Rate, Percentage
  • 2. Is an Attorney Needed or Required?
  • Chapter 16. What You Should Do to Make Your Own Estate Easy, Quick, and Inexpensive to Administer
  • Form Letters and Sample Forms
  • Appendices
  • Index

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