Customer Reviews

Understanding Living Trusts: How You Can Avoid Probate, Save Taxes and Enjoy Peace of Mind

5 star:		(9)
4 star:		(2)
3 star:		(0)
2 star:		(2)
1 star:		(0)

 

 

I've recently had the privilage to read this fifth installment about estate planning from Jim and Vickie Schumacher, and I can honestly say it's the best they've turned out yet. Ever since their first edition (originally titled A Will is not the Way), these two have been giving us clear and concise information about the estate planning world in everyday, conversational English. This tradition is continued in their newest edition. What makes the fifth edition a must have, however, is all the new information they've included. Five months ago, President Clinton signed the Taxpayers Relief Act of 1997, seriously changing the "rules" on estate and capital gains taxes. Not only have the Schumacher's already incorporated this new information into their book and translated it from Washington's "legelese" into English I can understand, they've even told me how these changes pratically apply to my estate planning situation. This alone would make the book worth buying, but when you couple it with the state-specific estate planning information they've included (as a direct response from reader's requests), you've got a real steal.

This book fully explaines it all. I got a trust through a lawyer and it was just as this book says. There are diagrams to show and the language is very easy to understand.

IF YOU ARE PLANNING TO DO LIVING TRUST YOU SHOULD READ PRIOR TO SEEKING LEGAL HELP. IT WILL MAKE YOUR TASK A LOT SMOOTHER.

Vickie and Jim Schumacher have done a wonderful job in taking a complex subject like estate planning and make it real for the rest of us. I know now what I need to do, in order to protect my estate from probate and legal fees

My in-laws had been putting off estate planning, which would put the family business at jeopardy at their death. The first chapter gives examples of what happens without planning, and after reading it, they started the process of a living trust and most importantly finished it!
The book also showed my husband and I why we needed a living trust to protect our young son (so he would not inherit wealth, without strings, at a naive 18), and why my widowed sister needed a trust to protect her children receiving an inheritance if she died after remarriage -- without a trust her inheritance would go to husband #2, and not her children.
The book helps.

I have an older copy of Understanding Living Trusts by Vickie and Jim Schumacher that I used to prepare me to make a living trust with my lawyer. This newer, updated version is even easier to understand. It puts everything that you need to know in everyday terms.

VERY well written, to the point and a good guide, as an advisor I must say this book made all of teh estate planning come together

I read this book shortly after my wife started working at a bank in the Trust Department as a Trust Administrator. She did not have any background in Trusts but much in administration and that was the skill the bank needed. Her supervisor was a fantastic teacher and introduced my wife to the world of Estates and Trusts. She in turn introduced me by having me read this book. The material is well presented and organized. The basic information helps you understand the signifcance between planning and not planning. It provides you enough information so you can make reasonable decisions about you own plan of action. It also helps you understand what questions to ask when considering a lawyer draw up your documents. I would highly recommend this book to sanyone who is considering a Will or a Trust. It is well worth the cost eventhough some of the information is slightly out-dated.

Seemed like a fairly thorough treatment. Could use a more complete explanation of IRA beneficiary options. Not sure of how current everything is - this is the fifth edition, apparently published in 1998 but I see no newer editions listed anywhere.

Great for basic knowledge for living trust but should also seek other resources for updated information and other points of view.