8 Ways to Avoid Probate |  | Author: Mary Randolph J.D.
Publisher: NOLO
Category: Book
List Price: $21.99
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Seller: natarajbooks
Rating:  20 reviews
Sales Rank: 376692
Media: Paperback
Edition: 8
Pages: 274
Number Of Items: 1
Shipping Weight (lbs): 1
Dimensions (in): 8.9 x 6.9 x 0.7
ISBN: 1413311946
Dewey Decimal Number: 346
EAN: 9781413311945
ASIN: 1413311946
Publication Date: May 4, 2010
Availability: Usually ships in 1-2 business days
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Product Description
Avoid probate and save time and money with these eight strategies
Probate can drag on for years, and can easily cost your family thousands of dollars -- money that would otherwise have gone to them. 8 Ways to Avoid Probate offers simple and effective methods for skipping the probate process so that property goes directly to the intended beneficiaries.
Your estate doesn't have to go through probate. You can avoid probate by creating a savvy estate plan, and 8 Ways to Avoid Probate shows you how. This book offers simple but effective methods to skip the entire process -- plus real-world examples of how others have used them. Find out about:
setting up payable-on-death accounts
naming beneficiaries, including children, institutions, and multiple beneficiaries
naming beneficiaries for retirement accounts, vehicles, real estate, and stocks and bonds
special procedures for small estates
holding property in joint ownership, and alternatives to joint ownership
using a living trust to avoid probate
making gifts of property and money
The 8th edition provides updates to estate and gift tax laws, updated 50-state tables on simplified probate, and additional information on how to bequeath real estate without probate -- 12 states now offer a special deed for just this purpose. (20080202)
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| Customer Reviews:
Showing reviews 1-5 of 20
If you live in Texas read this January 27, 2006
William R Shuman (Dallas)
13 out of 14 found this review helpful
I have perused several books on this topic and found this one to be much more informative about how Texas laws are very unique in regards to avoiding probate. In fact, most other books don't even mention this. It seems that for every one of these avoidance techmiques, the TX laws are very different in very specific ways and if you don't have everything done according to the letter of the TX law, you could end up with big problems. For example, only in the state of TX do you have to sign a separate written agreement with just the right language and other specifics in order for right of survivorship to actually work in avoiding probate. Not many people are aware of this and even most of the bankiing institutions are unaware. Even the big banking institutions will tell you that their methods are valid and correct when, in fact, they are not. Several cases have gone to the TX Supreme Court because of this. Don't let it happen to you. It is a huge problem. This book educates you on every issue and how it has to be handled differently in different states.
wonderful read December 26, 2000
15 out of 18 found this review helpful
I just recently used this book as part of my study to gain continuing professional education credits for my CPA license. I found it to be an excellent source for anyone who is currently planning his or her family's financial future. It's easy to understand, direct, and written with common-sense language. I will be recommending this book to my clients.
8 Ways to Avoid Probate by Mary Randolph March 30, 2000
13 out of 16 found this review helpful
I rate this book very highly. It was very informative and easy to follow. Each section covered the topics to the fullest. This book is very easy to understand and I would recommend it to anyone looking for answers on how to avoid probate and how to go about making a living trust. There are many books on the market about this subject, but I feel this book covers it all.
Worth every penny. July 20, 2002
6 out of 7 found this review helpful
Get the book, read it twice and avoid the time, expense and aggravation of a probate. Having gone through a probate, I can tell you that this is something you want to avoid.Mary Randolph does an excellent jobs of giving you simple techniques that let you bypass most or all of the probate process. Again, the book is worth the money.
Excellent for its Limited Purpose July 1, 2010
James Mcritchie (Elk Grove, CA USA)
2 out of 2 found this review helpful
This is a very specialized book about avoiding probate, not a general book on writing a will or estate planning. Given that caveat, Mary Randolph does a great job. I've been through probate in California and wish I hadn't. Luckily, I was assisted by another great Nolo Press book, How to Probate an Estate in California. Not only was the process expensive but it was very time consuming. This book may help you avoid it altogether, or at least for much of your estate.
Most of the strategies offered are relatively simple. With regard to real estate, for example: Transfer property to a living trust. Hold property in joint tenancy. Hold as community property. Prepare a transfer-on-death deed. Not only does Ms. Randolph tell you how to do it, change it, and consider your alternatives, she also writes about what to watch out for. For example, at TOD deed may temporarily interfere with your eligibility to receive Medicaid benefits and the state may seek reimbursement from a recipient's assets.
To get you thinking, here are the 8 strategies: Payable-on-Death Accounts, Name Beneficiary for Retirement Account, for your vehicles, your real estate, hold property in joint ownership, create a living trust, take advantage of special procedures for small estates, and make gifts. Sure, you know how to make a gift but did you know, for example, if you deed your house over to your son but retain the right to receive rent, the transaction is not a legal gift?
Randolph puts it all together, provides several helpful case studies and includes a glossary as well as a very important appendix comparing the states.
Showing reviews 1-5 of 20
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