Rating: Summary: Not a "How to" book; too many words, too little said. Review: 17 chapters, over 350 pages discussing the importance/advantage of Living Trust over Will. Little on how to draw up a living trust except some blank forms to help organize your assests. Although covers touts not needing a lawyer, bottom line message - buy my book, organize your information and hire a lawyer(me, if possible) to prepare the living trust. Look elsewhere for detail information unless you want stuff not fluff.
Rating: Summary: Required reading for living trust development Review: A living trust should be written by a lawyer. However, if you don't know what questions to ask or what information should be included, including splitting of assets, most lawyers will not volunteer any helpful information. The resulting trust may not work the way you planned. Once one of the trustees dies, it's too late to change the trust. Therefore, reference books like this are very helpful in understanding what you want your lawyer to do for you. Definitely don't rely on the lawyer. I am a survivor of a revocable trust written by a prominent trust lawyer, now trying to sort out problems he created.
Rating: Summary: This book is terrific for the layperson. Highly recommended. Review: After reading Abts book on the Living Trust, I followed the author's recommendations, collected ALL pertinent documents and now they are in one place. If you want peace of mind regarding how to protect your assets, this book is the one to guide you through the process. It is a priceless reference source on an on-going basis. The book is straight-forward, well written, easy to understand and follow; I highly recommend it.
Rating: Summary: Guiding us in the right direction Review: After reading this book two times we contacted a representative (referred by calling the number in the book) in our area. We found her to be EXTREMELY knowledgeable as she guided us along the path to make our own decisions concerning our Trust. After gathering all our information, a rough and final draft of this humongous document was produced. It took only an hour with our "guide" and an attorney to sign the documents. We had lots of homework to do . . . and the book and our "guide" have answered all our questions. The cost of the book and fees for the representative are the best tax deductable expenses we could ask for -- attorney fees were minimal -- MUCH less than other prices we had quoted to us. We intend to pass the book on to our children.
Rating: Summary: Guiding us in the right direction Review: After reading this book two times we contacted a representative (referred by calling the number in the book) in our area. We found her to be EXTREMELY knowledgeable as she guided us along the path to make our own decisions concerning our Trust. After gathering all our information, a rough and final draft of this humongous document was produced. It took only an hour with our "guide" and an attorney to sign the documents. We had lots of homework to do . . . and the book and our "guide" have answered all our questions. The cost of the book and fees for the representative are the best tax deductable expenses we could ask for -- attorney fees were minimal -- MUCH less than other prices we had quoted to us. We intend to pass the book on to our children.
Rating: Summary: The BEST BOOK on this subject - Period! Review: Henry Abts is the foremost authority on the workings of a Living Trust in the nation. After researching more I learned that Henry was basically the pioneer of hte living trust industry and has collected the best legal minds to help him in his handling of this important subject.
This book is the best and most easily understood reference in print today. Henry has a special and unique talent of taking a complex and difficult subject and then break it down so that it is both understandable and interesting.
After reading this book twice, I did a lot more research and everything else I learned was already addressed by Henry. He also has another book on settling the Living Trust that helped me greatly. This is my way of saying thanks to a great author and educator. You will not be disappointed in this book.
rh from California
Rating: Summary: The Living Trust Review: I was interested in getting an living trust about ten years ago. After visiting three living trust seminars,I came to the conclusion that the lawyers making the presentation probably knew less about living trusts than I did, which was not much although I had taken a course in Wills, Trusts and Estates in my undergraduate years. So I came to the conclusion that I'd better get self-educated fast. I didn't want some highly educated lawyer "going to school" on my money. I searched libraries and book stores for months for "how to do it " books and finally discovered Abts book. While a bit on the "wordy" side with side stories, I found it to be what I believed to be a sound common sense approach to the subject. I signed on with Abts Estate Plan and have all my property titled in the trust. I was also delighted to learn that Abts organization sends out a "newsletter" from time to time regarding changes in trust law. I heartly recommend this book.
Rating: Summary: Nonsense in Print Review: If the government imposed a tax on nonsense, we could balance the federal budget on this book alone. The author takes 28 pages to describe the procedures necessary to settle a revocable trust after the settlor dies. Do you really think those procedures can be accomplished in a few days or weeks? The successor trustee has substantially the same duties as the personal representative of an estate. He is required to identify and safeguard the assets, determine the identity of creditors and pay their claims, file all required tax returns and reports, and distribute the assets. If the estate exceeds $650,000, a federal estate tax return is required to be filed, and the Internal Revenue Service will take a year or more before issuing the estate tax closing letter.Contrary to the author's assertion, revocable trusts can be contested just like a will. Assets in a revocable trust are subject to creditor's claims, and in many states, are subject to elective share rights of surviving spouses.
Rating: Summary: The best I found. Review: It is not for writing your own trust, but it was by far the best for the legal information, explanations and especially case scenarios. After reading 3-4 other books, I found this to have the clearest presentation of a complex subject; but of even greater value--it gave common (but unknown to me and not mentioned in other books) alternatives for dealing with problem personal situations like irresponsible children or family. Ex: dividing estate into three dispursements given out at five year intervals to give heirs a chance to "blow it" and then grow up. Because of this book alone, I was able to make decisions I was finally comfortable with.
Rating: Summary: The BEST Review: This book gives all the answers in clear, easy to understand language. I have spent a lot of time researching the subject and this is the only source I feel I can trust (get the pun?)
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