The executor's guide : settling a loved one's estate or trust

If you need to wrap up the affairs of a loved one who has died, you may feel overwhelmed--especially when you're grieving. But you can do it, and this book will show you how.

A roadmap to follow. The Executor's Guide will lead you through an unfamiliar land of legal procedures and terminology. You'll learn what to do right away and what can wait. Find help on: preparing for the job of executor or trustee claiming life insurance, Social Security, and other benefits making sense of a will (and what to do if there is no will) how to determine whether probate is necessary filing taxes probate court proceedings dealing with family members handling simple trusts, and working with lawyers, appraisers, accountants, and other experts.
The 8th edition contains updated tables outlining key points of each state's laws. Applies in all states except Louisiana.

• Part I Getting Ready
• The Executor's Legal Companion p. 3
• How This Book Can Help p. 3
• 1 Overview p. 5
• What Executors Do p. 6
• What Trustees Do p. 8
• Your Legal Duty p. 9
• Payment for Serving as Executor or Trustee p. 9
• Dealing With Emotions-Yours and Your Relatives' p. 10
• 2 If You're Asked to Be an Executor or a Trustee p. 13
• Should You Accept the Job? p. 14
• Making the Job Manageable p. 19
• Part II First Steps
• 3 The First Week p. 35
• Organ, Tissue, and Body Donation p. 36
• Physician's Certification and Death Certificate p. 39
• Autopsy p. 39
• Burial or Cremation p. 40
• Funerals and Memorial Services p. 47
• Other Tasks During the First Few Days p. 48
• 4 The First Month p. 51
• Set Up a Filing System p. 53
• Order Copies of the Death Certificate p. 55
• Find the Will p. 57
• Find Other Documents That Leave Property p. 62
• Send Notifications of the Death p. 65
• Keep Property Secure p. 73
• Sort Through Personal Belongings p. 73
• 5 Claiming Life Insurance, Social Security, and Other Benefits p. 75
• Life Insurance and Annuity Proceeds p. 76
• Social Security Benefits p. 83
• Pensions p. 85
• Veterans Benefits p. 86
• Wages Owed the Deceased Person p. 87
• The Family Allowance p. 89
• Other Possible Benefits and Claims p. 89
• Part III Taking Care of the Estate
• Making Sense of the Will p. 95
• Does the Will Appear Valid? p. 97
• Reading the Will p. 103
• Gifts to Groups of People p. 117
• Disinheritance p. 122
• Events That Affect Who Inherits p. 126
• 7 If There's No Will p. 135
• Who's in Charge p. 136
• Who Gets What: The Basic Rules p. 137
• Understanding Key Terms p. 141
• If an Heir Has Died p. 146
• Taking Care of Minor Children p. 148
• 8 Taking Inventory p. 149
• Step 1 Look for Assets p. 151
• Step 2 Make a List of Assets p. 154
• Step 3 Estimate the Value p. 162
• Step 4 Add Up Debts p. 167
• Step 5 Determine How Title Was Held p. 168
• 9 Managing Assets and Paying Bills p. 179
• Your Legal Duties p. 181
• Keeping Good Records p. 183
• Setting Up an Estate or Trust Bank Account p. 184
• Managing Tangible Assets p. 186
• Managing Cash Accounts and Investments p. 190
• Digital Assets p. 191
• Paying Claims and Debts p. 191
• Giving Property to Beneficiaries p. 198
• Selling Assets p. 199
• Handling a Business p. 200
• 10 Caring for Children and Their Property p. 203
• Immediate Concerns p. 204
• Raising a Child p. 205
• Managing a Child's Property p. 208
• Personal and Practical Issues p. 213
• 11 Taxes p. 215
• Overview p. 217
• The Deceased Person's Income Tax Return: Form 1040 p. 220
• The Estate's Income Tax: Form 1041 p. 223
• Income Tax on Trusts p. 228
• Federal Estate Tax p. 229
• Stare Inheritance and Estate Taxes p. 234
• Other Taxes p. 237
• Beneficiaries and Taxes p. 237
• Typical Situations p. 241
• Part IV Transferring Property
• 12 Property That Doesn't Go Through Probate p. 249
• Common Assets That Don't Go Through Probate p. 250
• Joint Tenancy Property p. 252
• Tenancy by the Entirety Property p. 252
• Community Property p. 252
• Property Held in a Living Trust p. 253
• Real Estate That Qualifies as a Homestead p. 253
• Property That Passes to Immediate Family by Law p. 254
• Salary or Wages p. 254
• Payable-on-Death Bank Accounts p. 255
• Life Insurance Proceeds p. 255
• Retirement Accounts p. 255
• Health Savings Accounts p. 255
• Securities Registered in Transfer-on-Death Form p. 256
• Savings Bonds p. 256
• Vehicles p. 256
• Pension Plan Distributions and Other Death Benefits p. 257
• Real Estate Left by a Transfer-on-Death Deed p. 257
• Personal Property in "Small Estates" p. 258
• 13 Transferring joint Tenancy and Other Survivorship Property p. 261
• Real Estate p. 262
• Bank Accounts p. 264
• Securities p. 264
• Vehicles p. 270
• Savings Bonds p. 270
• If Title Wasn't Cleared When the First Joint Tenant Died p. 271
• 14 Transferring Community Property p. 273
• Your Transfer Options p. 274
• Survivorship Community Property p. 274
• Community Property Agreements p. 275
• State Probate Shortcuts p. 276
• When the Second Spouse Dies p. 279
• 15 Claiming Money in Retirement Plans p. 281
• Retirement Plans: The Basics p. 282
• Who's the Beneficiary? p. 284
• If the Surviving Spouse Is the Beneficiary p. 286
• Nonspouse Beneficiaries p. 288
• Special Rules for Multiple Beneficiaries p. 290
• If a Trust Is the Beneficiary p. 291
• If There Is No "Designated Beneficiary" p. 292
• If the Beneficiary Has Died p. 293
• If No Beneficiary Was Named p. 293
• If the Estate Is the Beneficiary p. 293
• 16 Claiming Payable on-Death Assets p. 295
• If the Asset Was Co-Owned p. 296
• The Effect of Divorce on POD Beneficiaries p. 296
• How Beneficiaries Can Claim Assets p. 297
• 17 Special Procedures for Small Estates p. 301
• Are You Handling a Small Estate? p. 302
• Claiming Property With Affidavits p. 304
• Using Simplified Probate p. 311
• 18 The Regular Probate Process p. 315
• Common Questions About Probate p. 317
• The Typical Probate Process p. 320
• The Process in Uniform Probate Code States p. 327
• Probate in Another State p. 331
• Disputes During Probate p. 331
• Do You Need a Lawyer? p. 337
• If You Go It Alone: Working With the Court p. 339
• Part V Handling Trusts
• 19 Wrapping Up a Simple Living Trust p. 343
• How Simple Living Trusts Work p. 344
• If You're the Surviving Spouse p. 346
• Who Serves as Successor Trustee p. 348
• The Affidavit of Assumption of Duties p. 348
• What's in the Trust p. 350
• Notifying Beneficiaries p. 351
• Getting Valuable Property Appraised p. 353
• Registering the Trust p. 354
• Debts and Expenses p. 355
• Transferring Trust Property p. 356
• Ending the Trust p. 363
• 20 Managing a Child's Trust p. 367
• How a Child's Trust Works p. 369
• The Trustee's Job p. 370
• Accepting or Declining the Trustee's Job p. 373
• Gathering Trust Property p. 376
• Keeping Beneficiaries Informed p. 377
• Registering the Trust p. 381
• Investing Trust Property p. 382
• Keeping Good Records p. 387
• Handling Trust Taxes p. 388
• Distributing Property p. 390
• If You Want to Resign p. 391
• Ending the Trust p. 392
• Part VI Getting More Help
• 21 Finding More Information p. 397
• Libraries p. 398
• Government Websites p. 398
• Law Firm Websites p. 398
• Finding Forms p. 400
• Finding Definitions p. 401
• Researching Specific Questions p. 401
• 22 Lawyers and Other Experts p. 405
• When to Get Help p. 406
• Deciding What You Want From a Lawyer p. 406
• Finding a Lawyer p. 408
• Choosing a Lawyer p. 409
• Working With a Lawyer p. 410
• Paying a Lawyer p. 411
• Solving Problems With Your Lawyer p. 413
• Glossary p. 415
• Appendixes
• A State Information p. 425
• B How to Use the Downloadable Forms on the Nolo Website p. 479
• Editing RTFs p. 480
• List of Forms Available on the Nolo Website p. 480
• Index p. 481