The trustee's legal companion
Book - 2010
Saved in:
- Subjects
- Genres
- Handbooks and manuals
Law for laypersons - Published
-
Berkeley, Calif. :
Nolo
c2010-
- Language
- English
- Item Description
- "A step-by-step guide to administering a living trust."
- Physical Description
- volumes ; 23 cm
- Bibliography
- Includes index.
- ISBN
- 9781413330618
- The Trustee's Companion
- 1. Should You Serve as Trustee?
- Getting the Big Picture
- Trustees and Executors: What's the Difference?
- What Kind of Trust Do You Have?
- Is There a Cotrustee?
- Is the Settlor Incapacitated?
- Are the Records a Mess?
- Can You Get Along With the Beneficiaries?
- Other Issues You May Be Concerned About
- If You Decide to Say No
- 2. Thinking Like a Trustee
- Fiduciary Duty: it's All About the Beneficiaries
- Get Help When You Need It
- 3. Working With Beneficiaries
- Communicate Well and Often
- Should You Share the Trust Document With Beneficiaries?
- What Beneficiaries Need to Know
- What Unhappy Beneficiaries Can Do
- Heading Off Trouble
- If You Are Also a Beneficiary
- If You Are Administering an Ongoing Trust
- 4. The First Few Months
- Get Death Certificates
- Find and File the Will
- Notify the Social Security Administration
- Notify the State Department of Health
- Identify the Beneficiaries
- Notify Beneficiaries and Heirs
- Inventory Trust Assets
- Protect Trust Property
- Get a Taxpayer ID Number for the Trust
- Get Property in Your Name as Trustee
- Review Trust Investments
- Establish a Record-Keeping System
- Get Assets Appraised
- Pay Debts and Creditors' Claims
- 5. Assets That Should Be in the Trust-But Aren't
- Trust Assets Not Listed in the Trust Document
- What Goes Into the Trust and What Stays Out
- What Does the Will Say?
- Getting Property Into the Trust
- 6. Life Insurance, Retirement Plans, and Other Assets Outside the Trust
- Life Insurance
- Pension Plans
- Traditional IRAs and 401(k) Plans
- Roth Plans
- Survivorship Property
- Payable-on-Death Property
- 7. Getting Help When You Need It
- Real Estate Maintenance
- Organizing Personal Property
- Legal Advice
- Appraisals
- Taxes
- Investing
- Trust Accountings
- 8. Managing Ongoing Trusts
- Kinds of Ongoing Trusts
- Trusts for Surviving Spouses
- Trusts for Children
- Special Needs Trusts
- Who Gets Trust Money and When?
- 9. Investing Trust Assets
- The Duty to Invest Prudently
- Permissible Investments
- Getting Help From Investment Experts
- The Beneficiaries' Needs
- Balancing the Needs of Current and Future Beneficiaries
- Handling Real Estate
- What to Do With Business Assets
- 10. Dealing With Taxes
- There's Always a Taxpayer
- Careful: You Could Be Personally Liable
- Tax Returns You May Have to File
- Beneficiaries and Taxes
- Missing Returns
- The Final Personal Income Tax Return: Form 1040
- The Trust's Income Tax Return: Form 1041
- The Federal Estate Tax Return
- State Estate Tax
- Other Taxes You Need to Be Aware Of
- 11. Trust Accountings
- How Often Must You Prepare Accountings?
- Who Should Prepare Accountings?
- A Typical Simple Trust Accounting
- Who Gets a Copy?
- Delivering the Accounting to Beneficiaries
- 12. Terminating the Trust
- When Does the Trust End?
- How to Distribute Trust Assets
- Filing the Final Fiduciary Income Tax Return
- Keeping Some Trust Money in Reserve
- Receipts From Beneficiaries
- Should You Ask Beneficiaries to Sign Releases?
- Final Correspondence With the Beneficiaries
- Telling the IRS You're No Longer Trustee
- Glossary
- Appendixes
- A. State Information
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- B. Sample Trust
- Index