The 50 biggest estate planning mistakes-- and how to avoid them
Available Copies by Location
| Location | |
|---|---|
| Stamford | Available |
Browse Related Items
| Subject |
| Estate planning > Canada. Wills > Canada. |
- ISBN: 0470681624
- ISBN: 9780470681626
- Physical Description xxi, 262 pages
- Publisher Mississauga, Ont. : John Wiley & Sons Canada, [2011]
- Copyright ©2011
Content descriptions
| General Note: | "A Canadian guide"--Cover. Includes index. |
| Immediate Source of Acquisition Note: | LSC 24.95 |
Additional Information
The 50 Biggest Estate Planning Mistakes... and How to Avoid Them
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Table of Contents
The 50 Biggest Estate Planning Mistakes... and How to Avoid Them
| Section | Section Description | Page Number |
|---|---|---|
| Preface | ||
| Acknowledgments | ||
| Part 1 | Incompetency Issues | |
| Wanted: Dead or Alive! | ||
| Mistake #1 Failing to face the need to delegate your decision-making ability while you are still able to do so | ||
| Okay, So Let's Say I'm Alive | ||
| Mistake #2 Not knowing how to plan in advance for possible incompetency | ||
| Just Give Me Cherry Garcia Ice Cream | ||
| Mistake #3 Failing to leave a road map for making your personal care decisions and not communicating clearly with your chosen substitute decision maker | ||
| After the Ice Cream, I Want Every Heroic Measure Known to Science! | ||
| Mistake #4 Avoiding the difficult decisions and discussions involved with planning for end-of-life medical care | ||
| Hey, Hey, Hey, Have I Got a Job for You! | ||
| Mistake #5 Glossing over the practical aspects of appointing another person to make financial decisions for you | ||
| Good Help Ain't Cheap | ||
| Mistake #6 Forgetting about compensation for the people you appoint to act on your behalf if you become incompetent | ||
| There Go the Dancing Dogs! | ||
| Mistake #7 Placing too much trust in your delegated financial decision maker | ||
| Part 2 | Intestacy Issues | |
| Giving Away Your Stuff | p. 101 | |
| Mistake #8 Believing that a will controls the distribution of all of your assets at your death | ||
| The Road to Hell is Paved with Good Intentions | ||
| Mistake #9 Avoiding making a will by using beneficiary designations and joint ownership of assets | ||
| Let's Check the Chicken Coop! | ||
| Mistake #10 Leaving behind confusion and heartaches instead of a valid will | ||
| ...And Then the Rest Goes to Second Cousin Lucy in Barcelona | ||
| Mistake #11 Allowing your estate to be distributed according to a cookie-cutter formula | ||
| My Diamond Ring is Going Where?! | ||
| Mistake #12 Failing to use estate planning as an opportunity for thoughtful and careful distribution of your estate, including your personal effects | ||
| Share, Share and Share Alike...Sharing Your Estate Far and Wide... | ||
| Mistake #13 Overpaying for binding, taxes and professional fees because you die without a will | ||
| Part 3 | Will-Planning Errors | |
| Is That Snoring We Hear? | ||
| Mistake #14 Taking the back seat in you own estate planning | ||
| And For Making Those Delicious Muffins, I Leave My Housekeeper One Million Dollars ($1,000,000) With My Love and Affection | ||
| Mistake #16 Leaving behind a hand-written or will-kit instead of retaining professional assistance | ||
| Insert Section A into Widget B and Pour in Rubber Cement | ||
| Mistake #17 Storing your will incorrectly | ||
| Penny-Wise and Pound Foolish | ||
| Mistake #18 Trying to change your will by writing on the original or a copy of the will, or using too many codicils | ||
| First Comes Love, Then Comes Marriage... | ||
| Mistake #19 Neglecting to update your will as you enter marriage or a committed relationship | ||
| Then Comes Baby in the Baby Carriage! | ||
| Mistake #20 Not updating wills to reflect the life stages of your children | ||
| It Was Fun While It Lasted! | ||
| Mistake #21 Neglecting to appropriately reflect separation and divorce in your estate plan | ||
| You Need a Plan, Stan | ||
| Mistake #22 Neglecting to do appropriate planning for the death of key people in a privately held business or farm | ||
| Well, He Sure Can Mix a Mean Martini! | ||
| Mistake #23 Selecting the wrong executor | ||
| I Don't Care if Johnny is in Jail, He's My Little Boy! | ||
| Mistake #24 Naming all your children as your executors | ||
| Momma Always Said, "Life is Like a Box of Chocolates, You Never Know What You're Gonna Get" | ||
| Mistake #25 Failing to consider a corporate executor and trustee when appropriate | ||
| "...Bond James Bond." | ||
| Mistake #26 Not being open about your executor appointment or not letting your executor know where to find the will or the required information | ||
| Kum Bay Ya, My Lord, Kum Bay Ya | ||
| Mistake #27 Failing to think through how the executors will make decisions | ||
| And No Red Bull After 6 P.M.! | ||
| Mistake #28 Failing to adequately prepare for the possibility of dying when your children are young | ||
| He Looks So Cute in His Suit and Tie! | ||
| Mistake #29 Not thinking through the ramifications of giving property to minor children | ||
| I Love You All the Way to the Moon and Back | ||
| Mistake #30 Making the assumption that after your death your beneficiaries will understand why you have done what you did | ||
| That's Not a Mosquito, That's Your Sister-in-Law! | ||
| Mistake #31 Not dealing appropriately with family's recreational property | ||
| "...And Those of my Office Plants Alive at my Death to my Partner, Hugh, for His Own Use Absolutely" | ||
| Mistake #32 Inadequately planning for the distribution of your personal effects | ||
| The Society of Wayward Pets and Other Causes Close to Your Heart | ||
| Mistake #33 Not taking full advantage of the opportunity to make a difference in the world through charitable giving | ||
| The Stony Pasture and Other Places Not on the Map | ||
| Mistake #34 Not paying enough attention to the ownership and description of your assets | ||
| You Can't Give What You Ain't Got! | ||
| Mistake #35 Not paying enough attention to describing the gifts in your will appropriately | ||
| Canada Revenue Who? | ||
| Mistake #36 Making errors that may result in additional taxation of your estate | ||
| Can I Have a Silver Spoon with That? | ||
| Mistake #37 Misunderstanding trusts in general and mistakes in the trustee selection | ||
| Can I Have a Silver Spoon with That? The Sequel | ||
| Mistake #38 Making mistakes in setting out the terms of the trusts in the will | ||
| Minimum Wage Sounds about Right, Marge | ||
| Mistake #39 Not planning ahead for the compensation of your executor | ||
| Part 4 | Mistakes In Estate Administration | |
| I Can't Even Read This Thing! | ||
| Mistake #40 Overlooking opportunities to retaining help with administering and estate | ||
| I've Always Been a Do-It-Yourself Kind of Gal | ||
| Mistake #41 Making mistakes in retaining or working with the professionals you hire to assist you with the estate administration | ||
| I Always Like that Susie the Best | ||
| Mistake #42 Failing to fully understand the fiduciary nature of the role of the executor | ||
| Do I Need to Miss my Golf Game? | ||
| Mistake #43 Not taking control of the state from the outset | ||
| What, You Want My Phone Number Too? | ||
| Mistake #44 Not communicating effectively with the beneficiaries of the estate | ||
| Let's Just Tidy This Up Today | ||
| Mistake #45 Failing to get properly informed and organized and underestimating the work involved | ||
| Enough already! | ||
| Mistake #46 Failing to keep the estate administration moving ahead in a timely manner | ||
| I Never Knew Apiaries were So Complicated | ||
| Mistake #47 Incorrectly dealing with the estate assets (excluding the personal effects) | ||
| Okay Everybody, Take What You Like and Don't Forget the Cat | ||
| Mistake #48 Not dealing with personal effects in an effective manner | ||
| I Thought I Knew Him Better Than That... | ||
| Mistake #49 Expecting the estate to go smoothly all of the time and being unprepared for the unexpected | ||
| Back Seat Driving is a Snap! | ||
| Mistake #50 Being a belligerent beneficiary | ||
| Glossary | ||
| Index. |
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