Estate Planning Smarts, Second Edition

Deborah L. Jacobs (Attorney and Journalist, New York, NY) recently published her book entitled Estate Planning Smarts: A Practical, User-Friendly, Action-Oriented Guide (2nd ed. 2011). This is the sequel to the first edition, which I previously blogged about here. In the expanded second edition, the author:

• Updated the book to reflect the new tax changes;
• Elaborated on the discussion about transferring non-probate assets;
• Added a section for those who have inherited retirement accounts;
• Added material for widows and widowers with regard to using portability of the estate tax exemption;
• Added a section on how to start a conversation about estate planning;
• Emphasized her strong objection to Do-it-Yourself estate planning; and
• Added a section on making online financial records accessible to loved ones.

Readers of all ages have relied on Estate Planning Smarts as a source of information as it is one of the best estate planning books written for a lay audience. Some have ordered multiple copies and given them to family members. Other readers have used Estate Planning Smarts to:

1. Start a conversation about estate planning with a spouse, elderly parent or adult child
2. Become familiar with the subject before meeting with financial advisers
3. Guide them through the process of choosing an estate planning lawyer
4. Plan for a time when they might not be able to handle their finances because of illness or disability
5. Learn more about strategies their lawyer has recommended
6. Save money by reducing the time they must spend with professionals
7. Get an independent perspective about controversial subjects, such as the pros and cons of do-it-yourself documents and whether to choose professional trustees or executors, rather than family members
8. Avoid key estate planning mistakes
9. Take necessary steps after a loved one has died
10. Help decide what to do now — and what to do later
11. Make choices about charitable giving
12. Avoid family conflicts