xvii
Table of Contents
Book VII: Planning Your Estate and Will .................... 557
Chapter 1: Fundamentals of Estate Planning. . . . . . . . . . . . . . . . . . . . .559
What Is an Estate? ....................................................................................... 560
Why You Need to Plan Your Estate ........................................................... 566
Why Your Estate-Planning Goals Differ from Your Neighbors' ............. 568
The Critical Path Method to Planning Your Estate ................................. 570
Getting Help with Your Estate Planning ................................................... 572
Chapter 2: Where There's a Will . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .579
Planning for Your Will ................................................................................. 580
Getting to Know the Different Types of Wills ........................................... 581
Choosing Your Will's Contents .................................................................. 584
Safeguarding Your Will ............................................................................... 590
Changing, Amending, and Revoking Your Will ........................................ 591
Protecting Your Loved Ones from Your Unloved Ones ......................... 593
Figuring Out Your Will Status .................................................................... 594
Chapter 3: Limitations of Wills: What You Can and Can't Do. . . . . . .597
Making Your Peace with Statutes That Affect Your Will ........................ 597
Identifying Statutes That Your Will Can Change ..................................... 598
Living (And Dying) with the Laws That Your Will Can't Change ........... 604
Chapter 4: Estate Planning Online. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .611
Calculating Your Estate's Value Online .................................................... 611
Understanding Wills and Trusts ................................................................ 612
Getting the Basics of Trusts ....................................................................... 615
Trusting in Living Trust to Avoid Probate ............................................... 616
Joint Tenancy and Benefi ciary Arrangements ......................................... 618
Customizing Estate Planning for All Ages ................................................. 621
Selecting an Estate Planner ........................................................................ 624
Preparing to Meet Your Estate Planner .................................................... 625
Chapter 5: Taking Care of Aging Parents
with Durable Power of Attorney . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .627
Understanding Power of Attorney ............................................................. 627
Determining Necessity ................................................................................ 630
Finding an Elder Law Attorney .................................................................. 633
Using a Living Trust as an Alternative ...................................................... 636
Index ....................................................................... 639