Estate administration is an on-the-job learning experience that most hope they will never have to experience. What's the Deal With Estate Administration? answers the questions that you didn't even know to ask, especially at a time that is quite overwhelming for all of us.
In her previous book, What's the Deal With Estate Planning? Peggy R. Hoyt provided a fresh new approach to thinking about estate planning that focuses on the personal aspect, not just the documents involved! Her unique approach to estate planning addressed questions regarding planning for mental incapacity, planning for long term care and ultimately, planning for your death.
This book starts where her last one left off. Peggy deals with the mystery of estate administration in a straight-forward and easy-to-understand format. Estate administration is essentially a three-step process:
1. Identifying, gathering and valuing estate assets
2. Identifying and paying all creditors, including taxes
3. Distributing the remaining estate assets to the proper beneficiaries Included in those three important steps are lots of additional steps intended to comply with relevant state and federal laws.
This book will help you navigate some of the most important estate administration questions you'll encounter. Some of the topics What's the Deal with Estate Administration? tackles are:
- What to do when a love ones dies
- What not to do - Probate is not a four-letter word
- The difference between wills and trusts
- The importance of asset ownership
- Avoiding the morbid scavenger hunt
- Dealing with income, estate and other possible taxes
- Pre-planning your memorial service
- Accomplishing your own estate planning goals
While the overarching goal of estate administration is to distribute the assets to the intended beneficiaries, no two estate administrations will ever be the same. That's because every family is different. What's the Deal with Estate Administration? provides insight and guidance--crucial to making sure your estate plan works the way you intend.
