Family Trusts : Financial Errors in Trusts--How to Avoid and Correct Them, Provide for Your Family, Save Taxes, Protect Your Assests and Avoid Probate,9781892879134

Family Trusts : Financial Errors in Trusts--How to Avoid and Correct Them, Provide for Your Family, Save Taxes, Protect Your Assests and Avoid Probate

by ;
Edition: 2nd
ISBN13: 9781892879134
ISBN10: 1892879131
Format: Paperback
Pub. Date: 2000-03-01
Publisher(s): Capital Management Pr
List Price: $26.95

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Summary

"Family Trusts" contains pioneering work and advice that grantors of trusts should consider. It is written in an easy-to-read style for the layperson who wants to provide for his wife, children and other heirs through the use of little known, seldom used, but very valuable trust options not yet taught in law schools. A checklist of these options is provided in the book for some of a grantor's most important options. The grantor chooses the options, checks them off and gives the list to a trust attorney for inclusion in the documents.

Table of Contents

PART ONE UNDERSTANDING WHY MOST TRUSTS DO NOT PROVIDE THE BENEFITS YOU DESIRE FOR YOUR FAMILY.
Discovering the Common Problem of Most Trusts
3(4)
Basic Facts About Trusts
7(10)
If You Need Help, Who can You Turn To?
17(4)
How This Affects You
21(6)
Determining What You Want to Accomplish
27(8)
PART TWO DISCOVERING YOUR FINANCIAL and MANAGEMENT OPTIONS
``Planned Income Trust''
35(15)
How to Test Your Financial Directives
50(15)
Increasing the End-Value of Your Trust for Your Children
65(9)
Helping Your Children During the Life of the Surviving Spouse
74(4)
Safety Provision: Extra Cash When You Need It
78(13)
Taxation by State and Local Governments
91(3)
Trusts for a Second Marriage
94(16)
Marital Trust in Conjunction with a Credit Shelter Trust
110(9)
Paying the Gross Income, Instead of the Net Income
119(15)
Who Should be Your Trustee?
134(10)
Limiting the Powers Given to a Trustee
144(3)
Removal of the Trustee - Who Should Have This Power?
147(3)
Safeguards for the Assets in Your Trust
150(9)
PART THREE ESTATE PLANNING AND KEY DOCUMENTS TO CONSIDER
Removing Assets from Your Estate to Reduce Estate Taxes
159(14)
Other Estate Planning Ideas and Potential Problems
173(6)
Living Trust to Avoid Probate
179(5)
Durable Power of Attorney, Pour-Over Wills and Medical Directives
184(9)
PART FOUR OPTIONS TO HELP ACCOMPLISH YOUR OBJECTIVES
Why These Options Should Be Considered
193(2)
Options That Should Be Considered in Every Trust
195(8)
Options That Should be Considered When the Surviving Spouse Depends On Income from the Trust
203(11)
Options To Be Considered to Increase the Value of Your Trust for Your Children and Other Heirs
214(3)
Options To Be Considered for a Second Marriage Trust
217(88)
APPENDIX
A. How to Use the Internet Estate Planning Calculators
219(14)
B. Detail of Chapter Exhibits and Additional Information
233(19)
C. Additional Information for Completing Exhibit 1 - Income Needs of Each Spouse
252(4)
APPENDIX
D. Annually Evaluating the Investment Performance of the Trustee
256(8)
E. Uniform Prudent Investor Act, Key Sections, States That Have Adopted It and How You Can Use It in Your Trust
264(8)
F. Duties of the Trustee
272(6)
G. Default Rules
278(4)
H. Fees and Services of Professional Trustees
282(5)
I. Qualified Personal Residence Trust
287(4)
J. Problems with ``Total Return Trusts'' and ``Total Return Unitrusts.''
291(14)
Glossary 305(8)
Index 313(4)
Extra Copies of Exhibit 1 ``Income Needs of Each Spouse'' 317

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