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Advising Families on Succession Planning - The High Price of Not Talking

This new book will help you explain to clients the benefits (both financial and emotional) of developing an effective and comprehensive estate plan that includes consulting with intended beneficiaries as part of the process.
Publication Language: English
Book
$40.00
Quantity
In Stock
Published:
ISBN/ISSN: 9780433451129

Product details

The cost of litigating an estate matters can be enormous - both financially and emotionally. However, most estate litigation can be avoided with advance planning.

This new book will help you explain to clients the benefits (both financial and emotional) of developing an effective and comprehensive estate plan that includes consulting with intended beneficiaries as part of the process. It takes readers through the steps in the estate planning process, discusses how to prevent mistakes from happening, describes the circumstances in which estate plans are challenged, and takes them through a method by which the wishes of intended beneficiaries can be considered.

It is a book that you will want to give to clients as well as have on your bookshelf and in your reception area.

Coverage Includes

Featuring familiar real life scenarios to which clients can relate, the book is divided into three parts:

Part 1 - A Wills and Estates Primer

  • Describes each of the three components to an estate plan - wills, tax reduction strategies and powers of attorney - and the steps that can be taken to protect them from challenge
  • Takes clients through the steps in the estate planning process, while emphasizing the importance of making their final wishes clear, and discusses how to prevent mistakes from happening

Part 2 - Why Estate Plans are Challenged - and What it Costs

  • Identifies the ten most frequent causes of estate litigation and the legal processes and costs associated with bringing a court action challenging a will
  • Describes the circumstances which prompts people to challenge estate plans - and the high cost of such challenges.

Part 3 - The Family Conference Solution

  • Highlights the importance of considering beneficiaries' wishes and takes you step-by-step through the family conferenceprocess. Includes a discussion on the purpose and wording of a "family constitution", and the steps that need to be taken before a family conference, including:
    • How to determine who to invite
    • A checklist of what the agenda should cover
    • Appointing a chair person
    • The role of the mediator
    • A sample family conference agreement
    • Rules for the meeting and dealing with particularly difficult issues such as extramarital relationships; unequal treatment of children; spendthrift beneficiaries; special needs beneficiaries; family business issues and incentive trusts

    Who Should Buy

    • Estates and General Practitioners who wish to encourage clients to make wills, in particular wills that will not be challenged in court


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    Table of contents

    Chapter 1 The high price of not talking
    Part 1 - A Wills and Estates Primer
    Chapter 2: What an estate plan should accomplish
    Chapter 3: What is a will
    Chapter 4: How to bulletproof your will
    Chapter 5: The role of the executor
    Chapter 6: The executor's income tax and accounting obligations
    Chapter 7: The recreational property conundrum
    Chapter 8: Taxes that arise on death
    Chapter 9: Trusts
    Chapter 10: Estate freezes
    Chapter 11: Powers of attorney
    Part 2 - Why Estate Plans are Challenged - and What it Costs
    Chapter 12: Ten most frequent causes of estate litigation
    Chapter 13: The legal process and its costs
    Part 3 - The Family Conference Solution
    Chapter 14: The Family Constitution
    Chapter 15: Before the conference
    Chapter 16: At the conference
    Chapter 17: If family members won't approve your plan
    Chapter 18: After the conference
    Chapter 19: Conclusion