Estate and Trust Administration For Dummies
Published on 21. November 2008
Book
Paperback/Softback
384 pages
978-0-470-28617-3 (ISBN)
Description
Executing an estate or a trust fund is a big responsibility. Estate & Trust Administration For Dummies contains advice for handling estates and trusts of any size. It offers solid pointers on reading and interpreting a will and other documents, and helping heirs avoid paying too much (or too little). It also shows you how to take care of a loved one's estate in the event that a will or trust was never created. This authoritative, plain-English guide helps you understand and follow the rules that govern estates and trusts, ensure a smooth transfer of property, and manage fiduciary affairs in an orderly manner. You'll get help choosing and assembling a team of professional advisors, settling debts and paying bequests, operating a revocable or irrevocable trust, and making sound trust investment decisions.
Discover how to: Understand executors' and trustees' duties Read and interpret important documents Properly execute an estate or trust Handle estates both large and small Get familiar with the probate process and estate taxes Identify different types of trusts Follow the deceased's wishes - and the law Notify insurers and employers of a death Follow the steps for closing an estate Establish, fund, and change ownership of a trust Keep proper trust records Yes, you can do the job and do it well. All you need is a little help from Estate and Trust Administration For Dummies .
Discover how to: Understand executors' and trustees' duties Read and interpret important documents Properly execute an estate or trust Handle estates both large and small Get familiar with the probate process and estate taxes Identify different types of trusts Follow the deceased's wishes - and the law Notify insurers and employers of a death Follow the steps for closing an estate Establish, fund, and change ownership of a trust Keep proper trust records Yes, you can do the job and do it well. All you need is a little help from Estate and Trust Administration For Dummies .
More details
Language
English
Place of publication
Chichester
United Kingdom
Publishing group
John Wiley and Sons Ltd
Illustrations
Illustrations
Dimensions
Height: 234 mm
Width: 190 mm
Thickness: 21 mm
Weight
584 gr
ISBN-13
978-0-470-28617-3 (9780470286173)
Copyright in bibliographic data is held by Nielsen Book Services Limited or its licensors: all rights reserved.
Schweitzer Classification
Persons
Margaret Atkins Munro, EA, is a tax advisor, writer, and lecturer with more than 30 years' experience in trusts, estates, family tax, and small business. Kathryn A. Murphy, Esq., is an attorney with over 20 years' experience administering estates and trusts and preparing estate and gift tax returns.
Content
Introduction 1 Part I: Discovering the World of Estates and Trusts 7 Chapter 1: Functioning in a Fiduciary World 9 Chapter 2: Estates 101: Exploring the Ins and Outs of Estates 19 Chapter 3: The Lowdown on Trusts: Identifying the Different Types 31 Chapter 4: Assembling Your Team Members and Knowing When to Use Them 55 Part II: Administering an Estate 69 Chapter 5: Taking the First Steps after Death 71 Chapter 6: Navigating the Probate Process 87 Chapter 7: Marshalling and Liquidating Assets 103 Chapter 8: Paying the Debts, Expenses, Bequests, and Devises from the Estate 125 Chapter 9: Closing the Estate 137 Part III: Operating a Revocable or Irrevocable Trust 147 Chapter 10: Understanding the Trustee's Duties 149 Chapter 11: Funding the Trust 159 Chapter 12: Investing the Trust's Assets and Paying Its Expenses 171 Chapter 13: Paying Trust Benefi ciaries 191 Chapter 14: Creating and Keeping Trust Records 205 Chapter 15: Terminating the Trust 219 Part IV: Paying the Taxes 229 Chapter 16: Preparing the Estate Tax Return, Part 1 231 Chapter 17: Preparing the Estate Tax Return,Part 2 251 Chapter 18: Filing Income Tax Returns for a Decedent, Estate, or Trust 275 Chapter 19: Reporting Tax Info on Schedule K-1 299 Part V: The Part of Tens 309 Chapter 20: Ten Pitfalls for the Unwary 311 Chapter 21: Ten Types of Taxes You May Have to Pay 317 Appendix A: Glossary 323 Appendix B: State-by-State Summary of Rules of Intestacy and Probate, Estate, or Inheritance Tax 333 Index 357