February 10, 2018

Keith R Lyman's Alpha Teach Yourself Estate Planning in 24 Hours PDF

By Keith R Lyman

ISBN-10: 0028641973

ISBN-13: 9780028641973

Rearranging your monetary priorities as you close to retirement? Have resources you need to move to others? beginning to notice it is time to get your monetary affairs so as? no matter what your cause, Alpha educate your self property making plans in 24 Hours makes it easy to get via this complex yet crucial approach. The 24 classes during this step by step advisor preserve you on the right track as you examine the easiest how you can deal with your property — one hour at a time.

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03 4197-3 CH02 6/28/01 20 1:51 PM Page 20 Hour 2 GO TO . You can learn more about community property in Hour 4. even be paramount to the rights of a child or other relative. Community property also is a reflection of the growing awareness of spousal rights to inheritance. STRICTLY DEFINED Community property is a form of ownership between husband and wife in which each spouse has a separate, undivided interest in property acquired during marriage. Only certain states follow the law of community property.

A power to give away another’s assets to yourself 04 4197-3 CH03 6/28/01 1:49 PM Page 38 05 4197-3 CH04 6/28/01 1:46 PM Page 39 HOUR 4 Defining Types of Assets There are several different ways individuals can own property. The following sections describe each category of property ownership, along with their identifying characteristics, functional characteristics, and risks of ownership. SINGLE OWNERSHIP This form of ownership certainly is the easiest to establish and identify. • Identifying characteristics Only one name will appear on this type of asset—for example, “Tom R.

To avoid this result, governments have developed laws that allow for the transfer of property from decedents to descendants in cases where there is no testament. Modern inheritance law has developed from these principles. STRICTLY DEFINED Don’t confuse the terms decedent and descendant. The term “descendant” refers to a child, grandchild, or great grandchild or further down the ancestral line. A “decedent” is a deceased individual. IDENTIFYING THE HEIRS The next great debate focused on those individuals who should be allowed to inherit a decedent’s property.

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Alpha Teach Yourself Estate Planning in 24 Hours by Keith R Lyman

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