Estate Planning 101: From Avoiding Probate and Assessing Assets to Establishing Directives and Understanding Taxes, Your Essential Primer to Estate Planning

Adams 101

by Vicki Cook, Amy Blacklock

Discover the ins and outs of planning your own or your loved one’s last wishes with this easy-to-understand guide to estate planning.

No one likes to talk about death, but being prepared for any unexpected tragedy can help your loved ones navigate your loss more easily in the long run. From creating your advanced medical directives to designating your beneficiaries, estate planning can ensure that your wishes are carried out when you are no longer around.

With Estate Planning 101 , you can get your affairs in order before any unfortunate incident occurs. This easy-to-understand guide comes with detailed information on what needs to be done to protect your estate. With information on creating a living will, minimizing estate taxes, choosing an executor, and more, you will be prepared for the future, no matter what it brings.

Estate Planning 101 offers you step-by-step instructions and checklists to keep you organized for whatever life throws your way.

Genres: Nonfiction, Finance, Personal Finance, Reference

272 pages, Hardcover

Published August 3, 2021

Reviews

[Cheryl]

The more I look at books on this topic, the more I think it's best to find a professional to help. Fortunately we have a solid lead on an independent specialist, a lawyer who didn't like the way a firm works and is working out of her home so she doesn't have overhead and can avoid pressures to be 'sleazy' (by word not hers; she was very tactful).

This one seems pretty complete but it never defines a living will, for example. Others don't do everything that this one does, for example warning you just what your trustee will need to do, how to leave a legacy beyond financial stuff, how to disinherit (for example an adult child who would blow their inheritance on drugs), and what to do about your digital accounts (dropbox is very different from yahoo mail, but also each are different from iCloud and gmail and facebook... it's probably best to leave access with your spouse or trustee and let them close everything only after they've retrieved everything they might need).

I'll be talking with my primary beneficiary (the adult son who I live with) and the attorney about a Reciprocal or Mutual Will. It makes sense to us, I think, because we are almost as committed to one another as we would be if married, but of course can't access those kinds of protections and easy transfers.

At the very least I will make sure that the will states he gets more than his brothers, as he's the one who deserves 'compensation for help.' If we go through probate (because we didn't get a properly done trust in time) (or even if we don't, in some jurisdictions), the will becomes public record. If I want to explain the distribution of the estate, I can attach a letter to my estate plan.

I'll have to talk to the attorney about simple vs. complex trusts for two reasons. 1. it has to be complex if I want some of my money to go to a charity, and 2. if a trust accumulates income before final distribution, that income does get taxed. (Other books have informed that a trust will need its own EIN and [according to google] will file a 1041.)

I will definitely look into a Medicaid trust asap, at least five years before needing long-term care, so I don't need to spend down my assets or miss the 'look-back' period. www.longtermcare.gov

I definitely want the attorney we know to get her fee now, instead of probate court taking so much money and so much time while my kids are grieving.

Carefully skimmed September 2025

[Randal White · Rating 4 out of 5]

I found this to be an easy to read, concise, and interesting book. As a person in my early sixties, with parents and in-laws in their 80's, it was just what I needed. The author introduces you to what you need to know to plan financially for the eventual passing of loved ones. Living trusts, wills, health care, the authors touch on them all. While it does not pretend to tell you everything you need to know (you need legal help), it does give you a starting point, and makes you aware of things to prepare for.

[Cheryle · Rating 5 out of 5]

A very practical guide to estate planning. Great timely information, even some checklists to make sure you have assembled the things needed after your demise.
No one likes to talk about death, but being prepared for any unexpected tragedy can help your loved ones navigate your loss more easily in the long run. From creating your advanced medical directives to designating your beneficiaries, estate planning can ensure that your wishes are carried out when you are no longer around.

With Estate Planning 101, you can get your affairs in order before any unfortunate incident occurs. This easy-to-understand guide comes with detailed information on what needs to be done to protect your estate. With information on creating a living will, minimizing estate taxes, choosing an executor, and more, you will be prepared for the future, no matter what it brings.

Estate Planning 101 offers you step-by-step instructions and checklists to keep you organized for whatever life throws your way.

[Shannon Boxell · Rating 4 out of 5]

Very nice intro to estate planning. I didn't know the first thing about estate planning but this book got me familiar with terms and concepts, and started me in the right direction for next steps. I didn't finish the whole thing but would pick it back up when I'm ready to get my plans in order.

I liked the layout of the book and the information was conveyed clearly in easily understood language.

[Sora · Rating 3 out of 5]

I found these 101 series books and wanted to read them for future planning. But, they mostly seem to be a high level summary of the subject matter. It does not really go in depth into anything. These books would be a good starting point. I skimmed this book on estate planning and it was helpful in terms of creating a list-ical in my mind of items I need to think about to make sure I am not missing anything. It covers a broad list of considerations for estate planning and wills.

[Beth Gordon · Rating 3 out of 5]

If you’re just thinking of getting your estate plan together, this is a good first step. It is very surface level on a plethora of subjects related to estate planning, so don’t expect a deep dive on any aspect.

[Kathleen · Rating 4 out of 5]

Useful, glad my library had it (I don't need to buy every book)!

[Jim Blessing · Rating 2 out of 5]

Another decent read in this subject

[Melanie · Rating 4 out of 5]

From the founders of Women Who Money, this high-level survey sparked further research and a to-do list.

[Nathan · Rating 4 out of 5]

I really love this Adams 101 Series. They strike me as what the "For Dummies" series wishes it were: short and useful. This one is repetitive, but that's sort of the nature of trying to explain estate planning. And I think repetition is useful when foraying into a subject with a lot of terms of art.

[Christine Mathieu · Rating 1 out of 5]

Rather confusing and not helpful at all.
Instead, I can highly recommend "What to do with everything you own to leave the Legacy you want" by Marni Jameson.

[Beth · Rating 4 out of 5]

Informative and thorough without being overwhelming; answers tons of common questions and presents information in a very readable way through short sections, bullet point lists, and call-out boxes. I will refer to this over and over when working on my important documents.

[Linda · Rating 4 out of 5]

The information and the emergency checklist is helpful.