Estate planning is more important than ever, and it's no longer just for the very rich. Today's "middle-class millionaires"created by the booming stock and real estate marketshave more assets than they ever believed possible. That unexpected wealth brings with it new concerns about how to protect their money and their heirs. A best-seller in its first edition, this book shows anyone how to implement estate planning into a long-range financial plan. It includes the latest on: Disability planning Living trusts; asset protection through long-term planning Family limited partnerships Written by two noted tax attorneys who have revolutionized the estate-planning process with their techniques, Protect Your Estate, Second Edition, enables readers to understand the newest changes in the tax laws and turn them to their own advantage.
Written in easy-to-read language with dozens of real-life examples, this book provides important information about mediation, arbitration, small claims court, and civil court procedures, and includes a chapter on working with a lawyer.
“Our #1 choice in estate planning books.” –Ken & Daria Dolan The bestselling guide to securing a sound financial future for you and your loved ones—updated for uncertain times In our time of political, social, and economic upheaval, taking steps to protect your estate isn’t enough to provide peace of mind for you or financial security for your loved ones. Given these new levels of uncertainty, you need to reduce risk by using life insurance and other financial products to fund estate planning. This new, fully updated edition of the estate planning classic helps you take your estate planning to the next level. In addition to all the basics on wills, jointly held property, taxation, and philanthropy, Protect and Enhance Your Estate covers the latest developments regarding: Disability planning Living trusts Asset protection Family limited partnerships Proper use of life and long-term care insurance
The ABA Journal serves the legal profession. Qualified recipients are lawyers and judges, law students, law librarians and associate members of the American Bar Association.
Written by experts in a variety of fields, entries include gerontology and finance terms and concepts, policies and programs, the needs and problems of the elderly, and more.
Estate planning has more procrastination, indecision, and inertia associated with it than any other area of planning. Affluent baby boomers, in particular, as the beneficiaries of the largest intergenerational transfer of wealth in history, have a daunting set of financial concerns with which to contend. Here at last is a step-by-step approach to estate planning that equips planners and financial advisors to help clients tackle this important process once and for all. Most clients understandably find planning concepts and strategies confusing, but most also have a fairly sound understanding of who and what is most important to them. These are the priorities from which to build the foundation of a successful estate plan. The seven principles explored in this book use personal values as a basis to form The Legacy Planning System. With this approach, advisors can: * Help clients discover and solidify their deepest values, convictions, and objectives relative to their money * Help clients express those values and objectives in a clearly written Family Financial Philosophy mission statement * Serve as the team leader in advising clients and clients other advisors on how to use the mission statement to direct the planning process Clarifying your clients priorities and personal goals will enable you, as a trusted advisor, to simplify the planning process for clients, ensure their lifetime financial independence, and help them control their ultimate family and social capital legacies. Confronting issues of family dynamics, taxes, and financial situations not to mention accepting one s own mortality is difficult for many people. In addition, since estate planning often requires a shift in ownership of assets, clients feel an unsettling loss of privacy and control over their financial resources. Help your clients to overcome these obstacles and achieve their highest financial and philanthropic aspirations. They ll thank you for generations to come. Praise for Values-Based Estate Planning "Scott Fithian s book provides planning professionals with new insights into the estate planning process. Most importantly, he stresses the individual and family benefits of philanthropy through the concept of social capital which should be a key element to the planner s inventory of client questions."--Charles W. Collier, Senior Philanthropic Advisor, Harvard University "This exceptional book empowers planners with a well- organized roadmap to lead wealthy clients to implementation of an estate plan expressing the clients own values. Scott Fithian s Legacy Planning System focuses the advisor on the critical importance to the estate planning process of helping clients identify and articulate their values and objectives. This useful volume makes those ideas available to a much broader audience, while broadening the subject with illustrations of effective employment of the methodology he has developed."--David Wheeler Newman, JD, LLM, Mitchell, Silberberg & Knupp LLP "Fithian s view of the complete person helps the advanced advisor avoid the typical limitations (hazards) of planning for wealthy families. The easy-to-understand and easy-to-follow methods help determine in-depth values of the client s total financial goals. His methods result in cementing valuable relationships with the most prized clients. Critical reading for CPAs, attorneys, insurance agents, or other advisors." & mdash;Jessica M. Bibliowicz, President and CEO, National Financial Partners "Scott s wealth optimization system is truly revolutionary. For the first time, affluent clients and their advisors can rely on a fully integrated system that spans all phases of wealth accumulation, management, and transfer over time. An outstanding reference!"--Robert Keys, The Private Client Group
