The Complete Guide to Creating Your Own Living Trust: A Step-By-Step Plan to Protect Your Assets, Limit Your Taxes, and Ensure Your Wishes Are Fulfill

by Steven D. Fisher

You worked hard for your money, so it's only natural that you want some control over what happens to your assets in the event of your death. At the very least, you probably want to minimize or avoid... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 1601381131
• ISBN13: 9781601381132
• Release Date: April 2008
• Publisher: Atlantic Publishing Company (FL)
• Length: 284 Pages
• Weight: 0.85 lbs.
• Dimensions: 0.5" x 6.0" x 8.8"

Customer Reviews

Comprehensive Book

As a soup to nuts explanation of Living Trusts, this book has it all. From anecdotal examples, to sample documents and glossary terms, this book doesn't disappoint. And, just when you start to feel like this is a textbook on living trusts, a nice "real world" anecdote sneaks up and takes that notion away. As a comprehensive guide to the history of trusts and how to use them today, this book hits it out of the park. Don't expect too much concentration on the "cons" of trusts - because you won't find it here. While some of the book feels redundant in places, it is also particularly specific - especially with sections like the one on "special needs trusts". In updated editions I would put more information about The U.S. Federal Trade Commission warnings about certain Living Trust Promoters. This could be useful to the reader as well.

Living Trust, Protecting Your Assets

This book puts a very complicated subject in clear English. What are some of the reasons one would have a trust over a will? A trust is more difficult to contest in court than a will. The effects of a trust can be instituted the moment you become incapacitated and must be written before hand. If you are elderly, seriously ill, or simply want to take the common-sense approach of avoiding probate, then a living trust is a good idea for you. In addition, if you own a significant amount of property, then a living trust is a good choice. This book speaks about the taxes your loved ones would need to pay such as the Federal estate tax imposed on your estate upon your death or in anticipation of your death. This tax is 45% tax if your estate is worth more than 2 million. Some states collect an inheritance tax. Also there is a "pick up" tax that allows the state to charge a percentage of what the federal government charged. Some people give their children gifts to try and get around this. Now even though gift taxes are exempt if the gift is under $12,000 or is for medical expenses or college tuition some gifts are not. This Book includes what must be listed in a simple trust including the fact that it needs to be signed by a notary. The advantages of having a trust are several. The chapters cover living trusts concerning minor children, including the need to select a guardian within a will. This book is a must read for anyone with money, property or heirs.

helpful read

"The Complete Guide to Creating Your Own Living Trust," written by Steven D. Fisher, is thorough and helpful to read when you are thinking about setting up a living will or a trust. The book is especially nice because it is fitting for all readers-- a novice like myself could pick up the book and easily understand the world of trusts by the end of the introduction. An estate planning lawyer could use the book as a handy reference. I enjoyed the book because it wasn't pressuring its readers to set up a trust. It was an unbiased point of view, telling the negatives and positives about trusts. It was honest about price and necessity of having a living trust, as they aren't for everyone. It even dedicates a chapter giving readers information to avoid probate besides living trusts.In an organized manner it shows the different parties to a trust, what types of trusts are available and the beneficiaries of a living trust. I also found several little chapters at the end helpful. Fisher went out of his way answer specific questions, like what happens after the grantor dies?, and how do you leave property to minor children?As a living trust beginner, I found the book very helpful because it explained things simply. The table of contents was also nice because it broke chapters into subcategories to make it easier to quickly find information you want. I give this book five stars out of five.

An understandable guide about the "how tos" and why a living trust may be for you

No matter what financial situation you are in today, or the size of your portfolio, this book provides all kinds of essential information to help you protect your interests and assets so they can be passed down to family members or favorite charities. Examples are sprinkled throughout many chapters to give the reader a better understanding of complex terms and legal situations. There are interesting historical facts regarding how living trusts evolved as well as the origins of probate court. The example forms located in the appendix of the book, was a feature I found particularly valuable. Form topics ranged from, a revocable living trust, to a health care power of attorney and advanced health care directive. The latter can be used to ensure your final medical wishes are carried out with minimal controversy. The subject matter is displayed in very simple to understand terms and the book can be used by anyone who is trying to determine if the living trust is the right tool for them, based on their individual needs. I liked this book because it not only presented an array of information on such important topics as related tax issues and types of available trusts, but it also explained the pros and cons of going the route of the living trust. The book also touches on two other unique items including same-sex partners and the division of assets, as well as what steps you should take if you are ever charged with administering a living trust.

An Excellent Resource to Learn About Living Trusts

The Complete Guide to Creating Your Own Living Trust is an excellent resource for anyone considering creating a living trust. It delineates which individuals would benefit from having such an instrument as part of their estate plan. The book thoughtfully explains both the why and the how-to of the living trust as well as alternative options to safeguarding your estate. It describes how to reduce taxes on the estate as well as create a simpler, quicker transfer of wealth to your intended heirs. Sample forms are included for ease of creating the trust yourself, if you so desire. Mr. Fisher even walks the reader through the process of settling a living trust for the future trustee. This book rates five out of five stars for taking complicated subject matter and making it very easy to understand. I consider it a must-have for anyone with an estate to leave for their heirs.