This quick read makes understanding the rules of estate planning easy! Estate Planning Basics provides concise, straightforward and easy-to-read explanations of the major components of estate planning, so that you don't have to spend hours wading through endless options (most of which apply to the wealthy). Learn about choosing beneficiaries, estate planning for parents with minor children, wills, living trusts and other probate-avoidance methods, including: using a retirement plan like an IRA or 401(k) as an estate planning device, estate taxes and tax-reduction methods, trusts for people in second marriages, or for those leaving property to a disabled person and planning for the handling of medical and financial decisions if one becomes incompetent. Attorney Denis Clifford gives you the reliable, plain-English answers you need, whether you're doling out the family heirlooms or steering clear of estate taxes. The 4th edition is updated with the the latest estate planning laws and information of your state.