How to Settle an Estate: A Manual for Executors and Trustees [Paperback]

Stephen R. Leimberg (Author)

Book Description

Publication Date: May 1, 1998 | Series: How to Settle an Estate

Settling an estate is an enormous financial and legal responsibility for which many are not prepared. The solution? Follow the advice of two estate experts who have created this all-inclusive manual, leading readers through the maze of legal documents, forms, letters, and notices to be filed and the procedures that must be followed to fulfill all obligations concerned. In clear and simple terms, Plotnick and Leimberg offer practical advice on diverse topics such as:
How to pay a multitude of taxes without incurring costly fines
How to raise cash for immediate estate expenses
Knowing when to hire a lawyer, an accountant, and a stockbroker
Dealing with insurance claims
Gaining government and fringe benefits
Managing real estate
Distributing and valuating assets.
Sample letters, documents, and checklists for filing forms are included in this resourceful book to help solve problems from running a family business to choosing a legal guardian. Completely updated with the latest tax law information, How to Settle an Estate will help readers act as trustees for an estate with maximum protection for the heirs and minimum liability for themselves.
How to Settle an Estate includes all recent federal tax law changes.
This comprehensive book makes sense of the complexities of the legal system.

Editorial Reviews

From Library Journal

Attorneys Plotnick and Leimberg have substantially updated their clear, comprehensive manual for executors and trustees of an estate, originally published in 1986. The new edition shines in its use of sample documents and checklists. It also addresses the psychological aspects of death and of being an executor. While not a technical treatise, this guide conveys enough detail to assist readers. The authors stress the importance of forming an estate settlement team of experts and suggest how to hire them. The only problem, as with any consumer legal guide, is the differing state laws. The authors might consider selected state-specific editions and issuing software for the book, as some tax return programs have done. Overall, however, this is an excellent and handy book. For general collections.AHarry Charles, Attorney, St. Louis
Copyright 1998 Reed Business Information, Inc.

About the Author

Charles K. Plotnick, L.L.B., is an attorney in Pennsylvania and specializes in estate planning. He is professor of estate planning at Temple University in Philadelphia. Stephan R. Leimberg, J.D., is CEO of Leimberg Information Services, Inc., a provider of tax law commentary. --This text refers to an out of print or unavailable edition of this title.

Product Details

• Paperback: 336 pages
• Publisher: Plume; Rev&Updtd edition (May 1, 1998)
• Language: English
• ISBN-10: 0452279348
• ISBN-13: 978-0452279346
• Product Dimensions: 7.8 x 5.3 x 1.1 inches
• Shipping Weight: 11.2 ounces
• Average Customer Review: 3.6 out of 5 stars  See all reviews (11 customer reviews)
• Amazon Best Sellers Rank: #564,003 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

64 of 64 people found the following review helpful:

4.0 out of 5 stars One Of The Best, May 18, 2000

By 

Michael Miano (Middleport, NY USA) - See all my reviews

Amazon Verified Purchase

This review is from: How to Settle an Estate: A Manual for Executors and Trustees (Paperback)

I have read six different books concerning wills, probate, and trusts in the past few months. Of the books that I have read, this is clearly the best. All of the standard stuff is here - except the constant reminders by the authors to hire an attorney. Unlike nearly all the other books, the authors do not talk-down to readers. The language was never too simple-minded and only in a few cases did I have to read a paragraph again to determine its meaning. The authors give hints and insights which I did not find in the other books. And the book contains the best explanation I have read concerning why trying to determine and report the lowest possible value of estate assets is not always the best idea. I do not plan to die for several years. If I could give to my future executor only one book, this would be it. I miss only estate/probate information about each state. Therefore, I am still confused about the interrelationship between state estate reporting and taxes and federal ones. Essentially, everything depends on the value of the taxable estate. If 20% of the readers of this book do so in anticipation of a death, my bet is that only 1% of those will have a taxable estate over $1 million. And those people not having a million-dollar estate (after 2006) will not need to pay federal estate taxes - thereby eliminating the need for most of the book. First-time executors reading the book because of immediate need and suspecting a taxable estate value more than $675,000 will be able to afford to hire a lawyer to do the (subjectively) most difficult parts of the job.

61 of 61 people found the following review helpful:

5.0 out of 5 stars Tells you what you need to know, September 1, 1999

By A Customer

This review is from: How to Settle an Estate: A Manual for Executors and Trustees (Paperback)

This book tells you nearly everything you need to know as an executor of an estate. It has lots of detailed information and practical advice. It is far superior (and cheaper, too!) than its competitor, ``Where There's a Will'' by Bauers. The information density is very high and the explanations are clear. Note particularly the detailed advice and description of a central task, filling out the Form 706 estate tax return (though the authors do suggest you also talk to a tax attorney).

There was only one question I wish the authors had answered: how to handle the affairs of the estate between the time of death and the time one has the letters testamentary that authorize you to act as executor. In that period, it seems, you have little or no legal authority to do anything even though there is much to be done.

27 of 28 people found the following review helpful:

3.0 out of 5 stars Good, But!, April 11, 2000

By A Customer

Amazon Verified Purchase

This review is from: How to Settle an Estate: A Manual for Executors and Trustees (Paperback)

As an overview, it's difficult to imagine a better introduction to the labyrinthine ways of settling an estate. But as to details and particulars, it's woefully inadequate. The checklist at the end of the book is helpful. The thesis, viz., KEEP RECORDS, is important. But it's examples and suggestions on how to do certain, e.g., tangible acts, like dealing with creditors, secured versus unsecured claims, goes unmentioned. despite its enormous importance. There's only two sample letters, and they're not altogether novel or esoteric. Again, a good overview, just very short on particular issues, examples, and samples.