Getting Started in Estate Planning Author:Kerry Hannon Because You Cant Take it with You Getting Started in Estate Planning "I think its irritating that once I die, 550f my money goes to the United States government. When you leave a house or money to people, then theyre taxed 55%, so youve got to leave them enough so that once theyre taxed, they still have some m... more »oney." Oprah Winfrey (from The Wall Street Journal, July 28, 1999) Few of us are as rich as Oprah, but whether your estate consists of an old Ford Thunderbird, your beloved dog, or millions of dollars in property and cash, in most cases, it will be left behind after youre gone. As baby boomers approach retirement age and 401 (k) plans, stock options, and inherited wealth continue their dramatic growth, estate planning is increasingly necessary. Unless of course, you are content to leave your assets to your silent heirthe IRS. Getting Started in Estate Planning helps you take control of the planning process by sharing easy to-understand, proven strategies that everyone can use, either alone or with a professional planner, to protect their heirs for the future. Personal finance columnist Kerry Hannon helps you stop procrastinating and start establishing your goals, with guidance on such critical issues as:
Determining the best way to dispose of your assetsand take care of your liabilities
Deciding who should receive whatand when
Providing for the care of minor children
Lowering taxes so your heirs get the maximum benefits of your estate
Choosing executors
Surrendering ownership of assets
Making your wishes known
Special situations, including those of gay and lesbian couples and small business owners
Ruling from the gravewhen to let go
Making changes as you go along
Filled with accessible strategies that are useful for all ages, Getting Started in Estate Planning will help you ensure that todays assets go where you want them to go tomorrow.« less