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Estate & Trust Administration For Dummies (For Dummies (Business & Personal Finance))

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From the Back Cover

Navigate estate and trust processes with ease Find simple explanations to help comply with tax regulation Make sense of unfamiliar administration terms Your plain-English guide to managing an estate Administering an estate or a trust is a big responsibility. This practical, authoritative guide contains advice for handling estates and trusts, whether large or small, and will help you discover what powers you have as trustee, what duties you're expected to perform, and how to keep the necessary records. It also explains how to read and interpret documents, take care of a loved one's estate in the event he or she never created a will, and help the estate or trust avoid paying too much (or too little) in taxes. Inside... Guidance on probate processes Advice on liquidating assets The duties of trustees Filing returns for a relative The pitfalls of administration Tips on finding expert help Ten taxes you may have to pay

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About the Author

Margaret Atkins Munro, EA, has more than 30 years' experience in trusts, estates, family tax, and small businesses. She lectures for the IRS annually at their volunteer tax preparer programs. Kathryn A. Murphy, Esq., is an attorney with more than 20 years' experience administering estates and trusts and preparing estate and gift tax returns.

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Product details

Series: For Dummies (Business & Personal Finance)

Paperback: 432 pages

Publisher: For Dummies; 2 edition (December 27, 2018)

Language: English

ISBN-10: 1119543878

ISBN-13: 978-1119543879

Product Dimensions:

7.3 x 1 x 9.1 inches

Shipping Weight: 1.2 pounds (View shipping rates and policies)

Average Customer Review:

4.0 out of 5 stars

145 customer reviews

Amazon Best Sellers Rank:

#66,720 in Books (See Top 100 in Books)

This book is mainly for wills not trusts. The problem with most of these books on trusts is that they are not clear on exactly how to administer one if you're the Trustee. They say vague things like, "Send the trust documents to the bank with your ID." Or they say beneficiaries can vote to remove a Trustee. How is this done exactly? These books are too vague on the actual mechanics of how all this works.And no, you don't send the entire huge binder of all the pages of a trust to every bank or financial institution. When you're the Trustee, you use the Trust Certificate (a two-page document) but NONE of the books I've read including this one, points this out.It's like Trusts are shrouded in mystery. No one seems to have any idea how they work.

As an executor who is also a trustee for a testamentary trust, I found this book to be very helpful in its explanations of how trusts work from beginning to end. Even though I consult with an attorney and a CPA, this book helps to fill in the blanks and to alert me to situations I need to follow up on. It also helps me in handling day to day trust administration rather than paying an administrator to do that. While there are many books that deal with Living Trusts, very few that I could find deal with a trust being established out of a will.

I would not recommend this - it does not cover the potential situations in enough detail.I purchased "The Trustee's Legal Companion", from Nolo Press, at the same time, and that is much better.

I wanted to be fair in my review. It was well written - but even so, was way over my head. I did pick up a few tips to help me as I was navigating an Estate for which I was the Executor, but unless you already have a good handle on this - hire an attorney. (No, I am not an attorney)

This book is amazing and a super easy read. Good not only to read cover to cover but to quickly look up valuable information. Estates and trusts are incredibly complicated this book breaks it down simply and keeps your interest. I should know for a C.P.A. Dealing mostly in trusts and estates.

Chaotic organization. Would be better if estate and trust information were separated and explained, rather than mixed. I bought this to help me understand estate planning and the book jumped back and forth from estate planning to trusts.The subject itself is confusing enough, but jumping between the two subjects tends to make it more confusing rather than easier to understand. This book did not do much to help me. It does not live up to it's title in my opinion.

I ordered this book because we were going through a tough time. Having the whole process opened up and explained cleared up the confusion. I like the book so much because it goes through everything from the professionals you will need to hire to the tax issues. I would recommend this to anyone who has to deal with a will. I admit the trust portion of the book did not apply to us but I am sure it would be an equal five star help for anyone doing that as well. It is nice to have a book to make a hard time a lot easier.

I am in the midst of settling an estate as a trustee.Thankfully, we have a living trust as well as a irrevocable trust. However, I wanted a good reference book to do a quick read and make sure that I don't miss anything in terms of settling the estate properly. The estate is quite simple and this book helped me tremendously as I make the distributions to the very few beneficiaries.A good book for a good understanding of "how to" and a good refresher on all the benefits/pitfalls of trusts wills, etc.

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