Prepare Your Estate Plan: Lesson Objectives

In this lesson you will:

• Learn what is included in an estate plan
• Gain a basic understanding of estate-planning tools:

• Power of Attorney
• Property Ownership
• Wills
• Probate
• Estate Taxes/Gifts
• Trusts

• Receive suggestions for hiring and working with an attorney
• Increase your knowledge by reviewing several case studies

Have you put off making plans to distribute your property when you die?

There are many financial and emotional reasons for having an estate plan. Just think about the suffering and expense family and loved ones could be spared if plans are made in advance. Now is the time to get started! If you already have a plan, this lesson will help you review or modify it, if necessary.

Lesson Contents

I. Introduction

a. Lesson Objectives

II. Estate Planning

III. Power of Attorney: Planning for Incapacity

IV. Property Transfer: Documents and Legal Arrangements

V. A Will: Who Needs One?

VI. The Probate Process

VII. Personal Representative: To Carry Out Your Wishes

VIII. Gifting and Tax Strategies

IX. A Trust: Who Needs One?

X. How to Hire and Work with an Attorney

XI. Learn More

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Glossary

Case Studies and Resources

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Disclaimer

Acknowledgments

Prepare Your Estate Plan belongs to a series called Legally Secure Your Financial Future. The series also includes information to help you organize important household papers and to communicate your health-care wishes.