Die Smart: 11 Mistakes That Cost Your Family When You Die: Probate, Living Trusts, Power of Attorney (And More) (Volume 1) [Paperback]

Kathy Lane (Author), Christine Hughes (Author)

Editorial Reviews

Product Description

70% OF ALL PEOPLE WILL DIE DUMB!

ARE YOU ONE OF THEM? It's amazing. We all know what happens if we run a red light..but few of us know the rules that manage our life as we age and when we die. What is your end of life IQ? Have you ever heard of living probate? Do you think Medicare pays for long term care? Do you know at what age your children have rights to their inheritance? Is your estate subject to probate? Do you think living trusts are just for the rich? Do you know who has the rights to your digital assets? Have you maximized the value of your inherited IRAs and 401(k)s? Did you accidentally disinherit someone when you completed a beneficiary form? If you can't answer these questions, read DieSmart. This book will help you answer these questions and more. Use your knowledge to have an intellligent conversation with your lawyer, your parents, your spouse, or your financial planner. Get $mart. Don't leave a mess for your family.

From the Publisher

The authors were on a mission when they wrote Die$mart - 11 Mistakes that Cost Your Family Money When You Die: Probate, Living Trusts, Power of Attorney (And More). Kathy and Christine had just gone through an agonizing period of serving as a caregiver, and eventually settling their parent's estate. During this time, they became aware of forms and laws that no one talked about in school. The more they learned, the more amazed they were when they experienced what the impact of "dying dumb" means to those left behind.

After experiencing the emotional and financial consequences of "dying dumb", the authors began to research how much people actually knew about the rules that manage their lives in the event of caring for an aging parent or the paperwork required when someone dies. They were astonished to discover in a survey that 85% of the people had never heard of a power of attorney, and that most people don't have a clue about how death or a prolonged illness can impact their lives and financial worth. The sordid truth is that "dying dumb" can cost a family 4 to 8% of their net worth - even more if long term care is involved.

With their background in information workflow, market research and taxes, the authors began to construct a guide to help people manage their affairs so that others won't be blindsided like the authors were. Die$mart is written for the average person - it's easy to understand and will help you save time and money by providing you with information about the facts, laws and forms that manage your affairs as we age and die. You can use this information to have a conversation with your parents, your lawyers and your financial planner---no matter the size of the estate.

Die$mart will help you understand that what you don't know - or don't do - will cost you and your family dearly in the end.

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Product Details

• Paperback: 226 pages
• Publisher: nFormed, Half Moon Bay,CA 2009 (February 1, 2009)
• Language: English
• ISBN-10: 0982123000
• ISBN-13: 978-0982123003
• Product Dimensions: 9 x 6 x 0.5 inches
• Shipping Weight: 14.2 ounces (View shipping rates and policies)
• Average Customer Review: 4.8 out of 5 stars  See all reviews (6 customer reviews)
• Amazon Bestsellers Rank: #528,454 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

5.0 out of 5 stars A Must Reference Book, February 11, 2010

By	Nanette M. Circo (San Diego, CA USA) - See all my reviews (REAL NAME)

Amazon Verified Purchase

This review is from: Die Smart: 11 Mistakes That Cost Your Family When You Die: Probate, Living Trusts, Power of Attorney (And More) (Volume 1) (Paperback)

I recently loss my father and am helping my mother work with the trusts, wills and financial accounts my father had set up for her. He did a great job but
there were still so many details and questions we both had--
This book was my bible and in turn has helped me review
what I currently have in place for my assets and estate planning.
Great, great resource that helped me talk with my mom's financial advisors, attorney and trust department.
Loved the checklists, glossary of terms and easy reference book formatting.

A Must reference book for all of us who are helping parents with their estate planning and our own as well.

Keep the information coming Kathy--would love a companion workbook and filing system.

Love your site as well--[...]

5.0 out of 5 stars Dying dumb is dumb, December 20, 2009

By	L.A. Little - See all my reviews

This review is from: Die Smart: 11 Mistakes That Cost Your Family When You Die: Probate, Living Trusts, Power of Attorney (And More) (Volume 1) (Paperback)

Die $mart, tackles the question that all of us face at some point in time; how to leave the greatest amount of what you have worked for throughout your life to your loved ones when you leave this earth. Not the most pleasant thought but then, not everything about life need be pleasant. What is needed though is a plan, a plan as to how you can avoid given a large percentage of your net worth to the tax man and/or lawyers and administrative nightmares.

The book is organized into ten major mistakes that you definitely want to avoid and at the end of each chapter, there's "bottom line" section that gives it to you straight - here's what it could cost you by not acting and, here are the main bullet points that the chapter covered.

Speaking of the chapters, they are broad in scope. The most surprising dealt with the concept of long term assisted living. The numbers there are staggering. The author cites statistics that some 80% of the population will not die a sudden death, but instead a longer and slower death that has significant implications in terms of cost and legalities. "If only we had known" seems to be the reoccurring theme through this title - if only you had known that in most states a financial power of attorney does not permit language for you to manage health care to a loved one who has lost the ability to communicate. If only you had known that you needed a Health Care Power of Attorney document to give your loved one the authority to act on your behalf if you become incapacitated. If only you had known ...

For a book of roughly 225 pages, there is a tremendous amount of material. From probate (the act of the state stepping in to "protect" your beneficiaries and debt holders upon your death and all the necessary fees associated with the process) to estate taxes (how much you owe Uncle Sam assuming your net worth is greater than your personal exemption amount), the depth and breath of coverage is quite remarkable. The book is quite readable by the layman even though it tackles difficult and very legal materials. A glossary is provided, along with step-by-step instructions and web site links to needed forms. The sum total of the approach enables you to take action and prevent unneeded costs and emotional pain if and when future events dictate.

If I have one criticism, it would be that an index was not provided. I find indexes quite useful and the absence of that in, what was otherwise a well organized and presented book, an interesting omission to say the least. Maybe that will be corrected in a future edition.

In summary, it is difficult enough to suffer the emotional and physical drain required to care for someone that is dear to you. The same is true of a loved one's death. Unfortunately, death is not an escapable event. There is nothing one can do about that event. In our normal day-to-day lives, we typically do not plan for death or incapacitation. If you read this book, however, that will change. It will both show and enable you to not only die smart, but to ease the pain for those you love.

For most, Die $mart is probably all you need to properly prepare for the eventuality of your passing. For those with more complicated matters, it certainly provides you with the ideas and materials needed to more intelligently discuss what is needed with your legal representatives. As such, I would strongly recommend this book to all.

Reviewed by L.A. Little on 12/20/2009 for both[...]

5.0 out of 5 stars Control your estate, December 15, 2009

By	Monica Wyant "Crazy4books" (PA, USA) - See all my reviews (REAL NAME)

This review is from: Die Smart: 11 Mistakes That Cost Your Family When You Die: Probate, Living Trusts, Power of Attorney (And More) (Volume 1) (Paperback)

I won this book through Library Things Member Giveaway program. Not that I am planning to die any time soon I just thought it was a good book to try and win because it looked very helpful. I found the book filled with a lot of information. Some of the information was confusing yet helpful. To discover that even if you have a will doesn't guarantee your estate will be divided properly or that you will avoid probate court which would delay your beneficiaries from acquiring your assets.

Die Smart has made me want to start talking to a lawyer about creating a will and trusts, etc. just to make sure that my beneficiaries earn the most out of my estate and retirement funds. This is a great book to read prior to going through the death of a family member. I have to say that when my mother died I knew none of this and my dad is still alive so my sister and I didn't have any involvement in her estate. Now I actually want to talk to my father about what he has done to see if he is prepared so that my sister and I don't have to go to court or delay thing with probate.

I recommend Die Smart for a great reference book. Take it with you when you go to see a lawyer about your will or trusts, etc. Don't wait until it is too late and make it hard on your family.