Estate and Trust Administration For Dummies

this is a useful text for folks needing such services as expensive estate planning and end of life materials for getting ones' affairs in order. It served us as a supplement and gave us the baseline for planning.

ORDERED THIS TO AQUAINT MYSELF REGARD THE TIMELINES, RULES, CORRESPONDENCE WITH THE BENEFICIARIES, LETTING THE BENEFICIARIES KNOW WHAT HAS BEEN DONE REGARDING THEIR REQUESTS AS TO HOW THEY BELIEVE THAT THE DECEASED WOULD WANT THEIR POSSETIONS DISPOSED OF. IN ESSENCE KEEPING THE FAMILY IN THE LOOP.
THIS WAS WRITTEN FROM THE PROSPECTIVE OF THE TRUSTEE DOING WHAT THEY FEEL SHOULD BE DONE AND AT THEIR TIMELINE, NOT REALLY GIVING ANY REGARD TO THE FEELINGS OF THE FAMILY OR BENEFICIARIES. WAS ABLE TO GLEAN A FEW THINGS FROM OUR PROSPECTIVE, BUT VERY FEW. AS STATED THIS WAS WRITTEN FOR SOMEONE THAT HAS BEEN CHOSEN TO SETTLE THE TRUST, WITH NOT TOO MUCH THOUGHT TO THE DECEASED WISHES NOR THE LOVED ONES LEFT.

If you know very little about the responsibilities of forming and administering a trust, this book can help get you up to speed - as well as explain when you should seek additional advice from experts. The authors understand that one book is unlikely to cover all situations. But having faced the process of estate distribution after the death of a relative, I'm amazed by how much information the authors have covered in this book. Even after my own experience, I still discovered plenty of new information in this comprehensive volume. I only wish I'd known most of it much earlier. It could have prevented significant obstacles after my relative's death.

With 60 years of experience in administering estates and trusts, the authors have gained an impressive body of knowledge. Using accessible language, they share both the common and unusual scenarios that personal representatives of an estate could face. And everything is designed to eliminate confusion, although I did review some key parts several times (but I'm the type to check and double check information anyway).

I found the book to be an excellent reference. With 5 sections and 22 chapters, it might be an overwhelming task to try to read the entire book in one fell swoop. Luckily, as the authors point out, it isn't meant to be read cover to cover. For example, if you only want to learn about funding a trust or liquidating assets, you can focus on those particular topics and review other material later.

There is basic info - how to take the first steps after a death, navigating probate, closing an estate - as well as more unique situations. Readers are also given a "heads up" about the more unusual pitfalls of estates and trusts, with a special warning symbol next to pertinent sections. I found this very helpful and it kept me from bypassing crucial material.

A book review can't list all the information contained in this volume. I'd have to write an essay - or more - to do justice to everything here. But I can note some topics which caught my attention. I was particularly intrigued by the state by state compilation of the Intestacy Rules as well as deadlines for state estate taxes. They can vary significantly from one state to the other. The list for prioritizing payments for an estate and deciding which claims should be paid first could save significant time.

Of course the rules for estate administration are likely to change over time but the basic types of trusts, from grantor to irrevocable, tend to follow certain guidelines. Estate and Trust Administration for Dummies would have been extremely useful to have on hand when my relative died. It is equally worth reading now. I did seek help from an expert in trust administration and would certainly urge readers of this book to heed the authors' advice about when to do the same.

All the material falls into 5 broad sections: getting started with estate and trust administration, administering the estate, operating revocable and irrevocable trusts, paying taxes and the rules of tens (ten pitfalls, ten types of taxes that might have to be paid). Within those general categories is the kind of helpful advice which can provide reassurance when faced with the responsibility of administering trusts and estates. Highly recommended.

I found this book to be practically worthless. If you take the time to thoroughly study the book it may help you understand what the attorney, that you will inevitably have to hire, is talking about. Just hire the attorney, provide the information, and let them handle the paperwork. I found that the only place I could add value was in delivering documents to the clerk of court and paying court fees.

Estate & Trust Administration for Dummies is well organized and easy to use. I found it very helpful for both estate planning and trust management. The book is a wealth of information and helps organize the trust process prior to meeting with estate and tax professionals. With the recent death of family members, my husband and I found the book very helpful as an executor and also as a beneficiary. It's good to see both sides of the process while we navigate through two different family trusts.

The book is organized into five parts: getting started, administrating an estate, operating a trust, paying the taxes, and "the part of tens" which are basically the pitfalls and taxes. With almost 350 pages...you might want to educate yourself on the estate process prior to having a need to implement the wishes of the deceased! Grieving is difficult enough without the added burden of reading a long book. Fortunately, this is well organized and you can quickly locate specific information for your need, such as "when beneficiaries request more money."

It's important to consult with an attorney and financial advisor in the state where the trust is being administrated. Don't depend solely on this book for assistance. The Appendix has a section on state-by-state rules, however those rules are constantly changing so you need the information applicable to your specific tax year.

The description of this book refers to it as "your plain-English guide to an estate or a trust." While for those who are least familiar with these things, the English might at times be a little plainer, this book basically does what it sets out to do. I ordered the book with a little trepidation after the deaths of a couple of people close to me, and I have found the book to be an invaluable help throughout the long processes that follow someone's passing.

The book provides very detailed blow-by-blow instructions, which are sometimes illustrated by stories from the authors' experience as well as hypothetical situations. Because the authors don't expect one to read the book from beginning to end, there is a reassuring amount of repetition of basic concepts, which makes the book that much more readable. I also appreciate that there are two tables of contents: a basic one and a more detailed one, which are helpful for quick reference. There are a very good glossary at the end and, in "For Dummies" fashion, a chapter of tens: "Ten Pitfalls for the Unwary," and "Ten Types of Taxes You May Have to Pay." I found the "Ten Pitfalls" especially useful. The usual "Dummies" icons, particularly the ones entitled "Warning," "Remember," and "Seek advice" help keep the reader to keep focused, avoid tough situations that can arise, know what's reasonable to expect from other people, and keep from being overwhelmed by so much material. All of these features make it much easier to quickly pinpoint answers to questions that arise. Even the planning of a funeral is covered, as well as extremely detailed, sometimes line by line instructions for filling out dreaded tax forms. The authors inject a bit of humor here and there, which gives the book a lighter touch.

I found that the book is very sensitively written. The authors seem to understand how delicate family relationships can be at these emotionally charged times. In the authors' words, "Simply put, this book allows you to create and follow a road map toward successfully completing your appointed task without ripping your hair out and running into the streets screaming." HIghly appreciated and highly recommended.

Most of my reviews on the store are for "entertainment related" items but since I just met with my attorney to revise and update my Will, and my executor asked me some questions, and raised some concerns, this was book that interested me. This particular title was sent to me by the store as part of their "Vine Reviewer" program in which they send selected books to a selected group of reviewers.

The "Dummies" series has sure grown since 1991 when Dan Gookin authored "DOS for Dummies". There are now over 1800 (!) "... for Dummies" titles.

I've used - and reviewed - quite a few of these books - especially business related and accounting volumes. I found this volume one of the better ones. The attorney-authors are experienced and know their Estate Law. The laws also vary by state and - just like computer products like Willmaker - you should not just relay on this book or a computer program but it is a good start. Then you you can contact your attorney.

The book is well organized though - as my fellow reviewers have pointed out - it's not a book to read cover to cover.

Yes, it's part of the "for Dummies" series but it's not just "for Dummies". The typeface and layout make it easy to read with "Tips" throughout though - unlike every other "dummies" book I've read - there are no cartoons to make you chuckle.

I would certainly recommend this to both those who may be an Executor as well those choosing and executor. It certainly would make an excellent "gift" to give to your executor.

I hope you found this review both informative and helpful.

Steve Ramm
"Anything Phonographic"

This book is a straightforward, no-nonsense guidebook for trustees of estates. With more people creating revocable living trusts to avoid probate and estate taxes, it behooves us all to understand what trusts are and how they work. This book defines basic terms- roles, types of trusts, steps available in asset and trust management, and the role and legal responsibilities a trustee faces. This isn't a fun or exciting read, because the issues are serious and complex, but the author has done a great job of using clear language and a creating an accessible framework from which to navigate in a world of trusts and trustees.

Estate and Trust Administration for Dummies is a comprehensive and comprehensible book written by two experts who have considerable expertise in the legal, financial, and personal aspects of estate and trust administration. The book is organized in a logical manner. The first part of the book provides an introduction to and overview of estates and trusts. The subsequent parts deal in turn with estates, trusts, and taxes. For some readers, the first part may be all they need to read in detail, and the rest will serve as an important reference book for specific questions and issues that will arise as the estate/trust process proceeds. There are numerous cross-citations throughout the book that identify other relevant sections to read. Even if one is using professional help with the administration of an estate and/or trust (which is likely), professionals do not always have the time or ability to explain things with the detail yet clarity of this book (or will charge a princely sum to do so). Interesting and humorous anecdotes from the authors' experience are interspersed with the technical information, which adds to the readability of the book. Mistakes in administration can be very costly, and this modestly-priced book provides a wealth of information that anyone dealing with an estate and/or trust should have.

Very good for getting an overview of what is involved, what to look out for, what to get more specific information on and when to get professional help when dealing with estates.
As someone that has no experience with this, i am finding the book to be very helpful to learn about the scope of what is involved and the possible pitfalls.
This of course cannot contain everything you need to know, but I do recommend it as a first resource, and am glad I have it BEFORE we are involved in actually handling an estate.

This book demystifies a difficult subject that confounds us mere mortals. Written conversationally in an easy to read style, I found it helpful, practical and thorough. Rather than claiming to replace professionals (some of which you'll still need), it gives you the information to know what questions to ask and guides you through a complicated maze of procedure and decision making. It includes checklists, suggestions and much, much more. Totally worth reading!

I give this book 5 stars. It was succinct, humorous and very informative. I believe a rookie or an expert in the trust and estate arena could benefit from this book. The glossary is of great value because the terms are defined in plain english and in one place for easy reference. The summary of state by state analysis is also a wonderful resource for all readers throughout the United States, as it provides an explanation of how an estate is distributed if there is no will to direct the distribution of property. I found the information on trust administration particularly helpful. I think the book is well written and uses humor throughout, making what is usually a dry subject matter, quite enjoyable and interesting.

Probably saved me a few hundred dollars which I would've had to pay to my own attorney to explain the difference between different options. The book is probably overdue for an update, though, since tax laws change all the time.

A great resource that walks you through various aspects of estate
and trust administration. It's not a D-I-Y manual (although it
does give you enough information so you could do-it-yourself if
your situation were simple enough), but rather explains what's
happening as you go through the process, and, more importantly,
the pitfalls to avoid.

Lots of information. Just make sure the book is close to the current year you're researching. Rules change about every year. Enjoy the light reading, which it is, because it's kind of fun. Not like studying for a college course or anything.

I know each person purchases a book with certain expectations but I just don't understand any significant criticism of this one. My brother-in-law and I have been working on our wives' mother's estate and trust for over two months and this book tells us everything we've learned the hard way. Read the book - or do it yourself and THEN read the book so you can rightly chastise yourself for being a 'Dummie'!

Need to figure out if you, personally, have the skill and patience to administer a trust without professional help? Read the book.

Need to settle an 'estate' outside that trust and wonder if you can take those assets through probate? Read the book.

Getting back to the rare but perplexing criticism of this book, I must conclude those individuals are looking for a one-page 'checklist' of things they should do. Anyone who has actually administered a trust or estate knows that's ridiculous. Each trust and/or estate is unique. The common-sense assistance this book provides will tell you if you should be doing this yourself in the first place. It requires patience and significant organizational skill. You'll never spend a smaller amount of money to determine your ability to do this and if you choose to, it provides a pathway.

Highly recommended.