New ABA and Random House Book Helps to Unravel Estate Planning Challenges
WASHINGTON, D.C., Jan. 29, 2013 — The American Bar Association and Random House Reference announce a new book to help people get their end-of-life affairs in order. The American Bar Association Guide to Wills and Estates, Fourth Edition presents a unique opportunity to plan an estate, prepare a will or trust, and ultimately minimize taxes.
With an estimated 55 percent of Americans without a will or end-of-life plan, the book covers everything people need to guide them through the sometimes thorny process of estate planning.
The guide will help you to:
- Determine what to put in an estate plan;
- Decide whether to prepare a will, trust or living trust;
- Avoid or reduce estate taxes;
- Change plans if the law or your circumstances change;
- Transfer property without a will with substitutes such as life insurance and joint tenancy;
- Understand the benefits of living gifts and life insurance;
- Choose an executor and trustee; and
- Guard against a will being contested.
The guide is written by highly accomplished estate-planning attorneys, and the principal reviewer and author of the update is Karin Prangley, an estate-planning attorney who practices at Krasnow Saunders Cornblath Kaplan & Beninati LLP in Chicago. The user-friendly tips, checklists and sample will gives readers what they need to properly plan an estate and make health care decisions.
“We’ve presented it in such a way that you can know absolutely nothing about death, dying or wills and follow what we’re talking about and become very educated on the important decisions you need to make,” Prangley said.
The updated book includes new and expanded coverage of issues pertaining to gay marriage, religious beliefs, chronic illness and elder abuse. It also contains updated estate tax information and, for the first time, delves into the world of digital assets.
“Living and Dying in a Digital World” is one chapter in the book that will give readers a whole new perspective on the value of their email, blogs and other social media accounts. Many readers will be surprised to find that their digital footprints are potentially assets of their estate and that they can make provisions now for who has access after their death.
The book is published by the ABA’s Standing Committee on Public Education in partnership with Random House.
For more information about updates on estate laws in your state, visit www.ambar.org/wills.
With nearly 400,000 members, the American Bar Association is one of the largest voluntary professional membership organizations in the world. As the national voice of the legal profession, the ABA works to improve the administration of justice, promotes programs that assist lawyers and judges in their work, accredits law schools, provides continuing legal education, and works to build public understanding around the world of the importance of the rule of law.
Title: The American Bar Association Guide to Wills and Estates, Fourth Edition: Everything You Need to Know about Wills, Estates, Trusts, and Taxes
Publisher: Random House Reference
Product Code: 2350267
Orders: Available wherever books are sold
Editor’s note: Review copies are available by e-mailing Katherine Fleming at email@example.com. If you publish a review of this book, please send tearsheets or a copy for our files to Katherine Fleming, c/o Random House, 1745 Broadway, 5th floor., New York, NY 10019.