Estate and Trust Administration For Dummies
2nd Edition
Published on 7. May 2013
408 pages
978-1-118-41228-2 (ISBN)
Description
Your plain-English guide to administering an estate and/ortrust
As more and more of the population reach seniorages--including baby boomers, many of whom do not havewills--an increasing number of people are being thrust intothe role of executor, administrator, personal representative of anestate, or trustee of a trust after the death of a loved one. Thisupdated edition of Estate & Trust Administration ForDummiesguides you through the confusing process ofadministering an estate and/or trust.
Settling an estate and administering a trust can be complicated,messy, and time-consuming for individuals named as executor ortrustee, most of whom have no previous experience with suchmatters. Estate & Trust Administration For Dummies showsyou how to make sound decisions for your unique circumstances.
* Guides you through the confusing process of administering anestate and/or trust
* Provides expert advice on unfamiliar estate and trust taxlaw
* Gives you a practical checklist to follow for all of yourestate and trust administration questions and concerns
Whether you're looking for guidance on how to navigate theprobate process and estate taxes, settle debts and bequests, fund atrust, comply with tax regulations, or anything in between, thishands-on, friendly guide takes away the mystery and providesdetailed answers to all of your estate and trust administrationquestions.
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Margaret Atkins Munro | Kathryn A. Murphy
Estate and Trust Administration For Dummies
Book
05/2013
Wiley
€44.79
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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 more than 20 years' experience administering estates and trusts and preparing estate and gift tax returns.
Content
Introduction 1
Part I: Getting Started with Estate and TrustAdministration 7
Chapter 1: Operating in a Fiduciary World 9
Chapter 2: Exploring the Ins and Outs of Estates 19
Chapter 3: Identifying Different Types of Trusts 31
Chapter 4: Assembling Your Team Members and Knowing When to UseThem 57
Part II: Administering an Estate 73
Chapter 5: Taking the First Steps after Death 75
Chapter 6: Navigating the Probate Process 91
Chapter 7: Marshalling and Liquidating Assets 109
Chapter 8: Paying the Debts, Expenses, Bequests, and Devisesfrom the Estate 133
Chapter 9: Closing the Estate 147
Part III: Operating a Revocable or IrrevocableTrust 157
Chapter 10: Understanding the Trustee's Duties 159
Chapter 11: Funding the Trust 171
Chapter 12: Investing the Trust's Assets and Paying ItsExpenses 183
Chapter 13: Paying Trust Beneficiaries 203
Chapter 14: Creating and Keeping Trust Records 217
Chapter 15: Terminating the Trust 231
Part IV: Paying the Taxes 241
Chapter 16: Preparing the Estate Tax Return, Part 1 243
Chapter 17: Preparing the Estate Tax Return, Part 2 263
Chapter 18: Filing Income Tax Returns for a Decedent, Estate, orTrust 287
Chapter 19: Weighing Income Tax Implications 311
Chapter 20: Reporting Tax Info on Schedule K-1 321
Part V: The Part of Tens 333
Chapter 21: Ten Pitfalls for the Unwary 335
Chapter 22: Ten Types of Taxes You May Have to Pay 343
Appendix A: Glossary 349
Appendix B: State-by-State Rules of Intestacy and Estate orInheritance Tax 359
Index 379
