Quick & legal will book

180 Pages·2003·0.836 MB·English

by  Denis Clifford

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3rd edition
Quick & Legal
Will
Book
by Attorney Denis Clifford
THIRD EDITION July 2003
PRODUCTION Stephanie Harolde
EDITOR Shae Irving
PROOFREADER Joe Sadusky
INDEX Thérèse Shere
BOOK DESIGN Amy Ihara
COVER DESIGN Toni Ihara
PRINTING Consolidated Printers, Inc.
Clifford, Denis
Quick and legal will book / by Denis Clifford.— 3rd ed.
p. cm.
Includes index.
ISBN 0-87337-948-9
1. Wills—United States—Popular works. 2. Wills—United States––Forms. I. Title: Will
book. II. Title: Quick and legal will book. III. Title
KF755.Z9C55 2003
346.7305' 4—dc21
2003045866
Copyright © 1995, 1999 and 2003 by Denis Clifford. ALL RIGHTS RESERVED.
Printed in the U.S.A.
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or
by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written
permission of the publisher and the authors.
Quantity sales: For information on bulk purchases or corporate premium sales, please contact the Special
Sales department. For academic sales or textbook adoptions, ask for Academic Sales. Call 800-955-4775
or write to Nolo, 950 Parker St., Berkeley, CA 94710.
D
EDICATION
For my mother, Katherine Corbett Clifford. As her brother said when they were
young, “Not like the other girls.”
A
CKNOWLEDGEMENTS
Once again, writing and revising a Nolo book was a group effort and could not
have been done without the contributions of many of my colleagues here.
Specifically, Shae Irving, brilliant editor, unique spirit, friend; Steve Elias, the
soul of Nolo, old friend and wonderful editor; Stephanie Harolde, irreplaceable
production assistant, editor, writer, friend; Ella Hirst, excellent legal researcher;
Mike Edwards and Ling Yu, of Nolo Press Customer Service, who gave time
generously to read and review the original manuscript; Nancy Erb for her
wizard-work with computers, doing the layout for the original book. Finally, I
want to thank all my fellow Noloids. Each one truly contributes to making this
enterprise both productive and such an enjoyable place to work, or party.

CONTENTS
CHAPTER 1
HOW THIS BOOK WORKS
A. WHO CAN USE A BASIC WILL?.......................................................................................................1/2
B. ABOUT PROBATE AND TAXES.........................................................................................................1/3
C. CAN YOU SAFELY USE THIS BOOK?...............................................................................................1/4
D. REAL LIFE..........................................................................................................................................1/6
E. CONSIDERATIONS FOR PARENTS OF MINOR CHILDREN...........................................................1/7
F. LEGAL OVERVIEW............................................................................................................................1/7
G. HOW TO PROCEED..........................................................................................................................1/9
CHAPTER 2
YOUR BENEFICIARIES
A. CATEGORIES OF BENEFICIARIES ...................................................................................................2/2
B. SHARED GIFTS..................................................................................................................................2/3
C. SURVIVORSHIP PERIOD...................................................................................................................2/5
D. SIMULTANEOUS DEATH..................................................................................................................2/6
E. IMPOSING LIMITS ON YOUR GIFTS................................................................................................2/6
F. DISINHERITANCE.............................................................................................................................2/7
G. IF YOU WANT TO EXPLAIN YOUR DECISIONS .............................................................................2/8
CHAPTER 3
PROPERTY OWNERSHIP
A. BASIC RULES FOR GIVING AWAY PROPERTY................................................................................3/2
B. TAKING STOCK OF YOUR PROPERTY ............................................................................................3/5
C. THE BENEFICIARY WORKSHEET....................................................................................................3/6
D. TYPES OF PROPERTY OWNERSHIP.................................................................................................3/7
E. MARITAL PROPERTY.........................................................................................................................3/9
CHAPTER 4
CHILDREN
A. NAMING A PERSONAL GUARDIAN.................................................................................................4/2
B. MANAGING MINORS’ PROPERTY....................................................................................................4/3
C. OTHER CONCERNS ABOUT CHILDREN.........................................................................................4/9
CHAPTER 5
YOUR EXECUTOR
A. CHOOSING YOUR EXECUTOR........................................................................................................5/2
B. NO BOND REQUIRED.......................................................................................................................5/3
CHAPTER 6
ESTATE PLANNING
A. WHAT IS PROBATE? .........................................................................................................................6/2
B. AVOIDING PROBATE........................................................................................................................6/2
C. REDUCING FEDERAL ESTATE TAXES.............................................................................................6/4
D. SECOND MARRIAGES.......................................................................................................................6/6
E. OTHER PROPERTY CONTROL MATTERS........................................................................................6/6
F. INCAPACITY......................................................................................................................................6/6