On the money

Estate planning is not a light undertaking. It requires many special legal considerations that help preserve an individual’s wealth while alive and prepare for the transfer of assets to designated parties upon death.

If you don’t quite understand what estate planning entails, you might want to consult one of the several informative books available on the topic to get up to speed.

Here are some of the titles out there.

  • “The American Bar Association Guide to Wills and Estates” (Random House, 2004, $16.95). It discusses the differences between wills, trusts and living trust, and reducing estate taxes.
  • “The Everything Wills and Estate Planning Book,” by Kimberly A. Colgate (Adams Media, 2003, $14.95). The book covers selecting a lawyer, creating a plan and understanding probate.
  • “Estate Planning Basics,” by Denis Clifford (Nolo Press, 2002, $21.99). It provides legal basics about estate taxes, avoiding probate and selecting beneficiaries.