The Complete Guide to Wills: What You Need to Know Explained Simply

Linda C. Ashar

Jan 2011 · Atlantic Publishing Company

About this ebook

Whether many people realize it or not, a will is a vital necessity in making sure all assets and wishes are properly attended to after death. Yet, according to a recent lawyers.com survey, more than 55 percent of all American adults do not have a will, assuming that because they do not have substantial assets, it is an unnecessary task. Many more people neglect it because it seems too complex and time consuming. Fortunately, with this guide in hand, you will have a comprehensive outlook on exactly what a will entails and what you need to do to prepare one.

You will learn the basics of estate planning, starting with the outlining of your assets and understanding the various different forms of ownership style. The real and personal property lines, including how your marriage, children, and other legal relationships will affect your property rights, are included. You will learn what value life insurance can have and why every one should have an active policy before creating a will. In addition, you will learn how to measure and distribute assets from a pension, other retirement accounts, and if you own your own business.

The difference between a trust and will is provided along with a reason why you should have both in hand at all times. You will learn what the probate court process entails and how attorneys and other legal issues factor into the process. Once the will creation process has begun, sections on how to decide the guardianship of your children and how to handle specific problem situations, such as marriage issues, disabilities, grandchildren you might care for, excess debt, and bankruptcy are provided. You will learn how to make sure your estate is taken care of so that there are no disputes amongst your family after your passing.

Dozens of interviews were conducted with attorneys, tax accountants, and other experts to establish a set of clear guidelines to help you ensure your will is created with the best of everyone in mind. You will learn how to minimize the amount of taxes that will be levied on your estate, including through estate taxes, state taxes, and income taxes. You will learn how to use charitable donations, gifting, and other ploys to keep your wealth and possessions in the family. Other details covered include how to choose an attorney to execute the will, and what you can do to handle the surprises you will not be able to anticipate before filing your will. A chapter is included that helps you outline and keep track of how you will keep your will updated as you age and your estate changes. For any of the 125 million Americans without a will, this book is a vital tool to help you prepare your estate properly.

Atlantic Publishing is a small, independent publishing company based in Ocala, Florida. Founded over twenty years ago in the company presidentâe(tm)s garage, Atlantic Publishing has grown to become a renowned resource for non-fiction books. Today, over 450 titles are in print covering subjects such as small business, healthy living, management, finance, careers, and real estate. Atlantic Publishing prides itself on producing award winning, high-quality manuals that give readers up-to-date, pertinent information, real-world examples, and case studies with expert advice. Every book has resources, contact information, and web sites of the products or companies discussed.

About the author

Linda C. Ashar is a lawyer, educator, horse breeder, freelance writer, and artist. She has practiced law for more than 25 years before the Ohio and Federal Bars. She is a senior shareholder in the firm of Wickens, Herzer, Panza, Cook, & Batista Co. in Avon, Ohio. In addition to her Juris Doctor in law, she holds a Master of Arts in special education and a Bachelor of Arts in English. She is a professional writer and has authored 101 Ways to Score Higher on Your LSAT: What You Need to Know About the Law School Admission Test Explained Simply, The Complete Power of Attorney Guide for Consumers and Small Businesses: Everything You Need to Know Explained Simply, an estate planning book series with Atlantic Publishing Group, poetry, and several magazine and journal articles, including a collection on Suite101.com. She is an adjunct professor at DeVry University and Keller Graduate School and a frequent speaker at law seminars. Reach her at [e-mail] or [e-mail].