Cover image for The inheritor's handbook : a definitive guide for beneficiaries
The inheritor's handbook : a definitive guide for beneficiaries
Rottenberg, Dan.
Personal Author:
First edition.
Publication Information:
Princeton : Bloomberg Press, 1999.
Physical Description:
214 pages ; 24 cm.
Format :


Call Number
Material Type
Home Location
Item Holds
KF750.Z9 R677 1999 Adult Non-Fiction Non-Fiction Area

On Order



This handbook contains jargon-free solutions to sophisticated family-wealth issues and focuses on the beneficiary's point of view. It delivers proven advice from experts and heirs and includes real-life examples to illustrate various problems.

Table of Contents

Acknowledgmentsp. xi
Introductionp. 1
How to use this bookp. 7
Part 1 Preparing to Inheritp. 12
Your Relationship with Your Parentsp. 15
Estate planning questions: The quick listp. 16
Opening the Conversationp. 18
Before You Talk to Your Parents, First Talk to Yourselfp. 18
Sidebar: A checklist of emotional inheritance issuesp. 19
Parents' primary concernsp. 20
After Talking to Yourself, Confer with Your Siblingsp. 22
Before Approaching Your Parents, You May Want to Consult a Professionalp. 23
Approaching Your Parentsp. 23
Assembling Your Parents' Vital Documentsp. 31
Estate Planning Issuesp. 33
Managing Your Parents' Affairs before They Diep. 33
Minimizing Estate Taxesp. 33
Sidebar: Estate, inheritance, and gift taxesp. 40
Protecting against Incompetence or Disabilityp. 39
Durable general power of attorneyp. 39
A living (or "revocable") trustp. 42
Preparing for Deathp. 43
Have your parents written their wills?p. 43
Plan the funeralp. 46
Get to know your parents' advisersp. 47
What if your parent has remarried?p. 47
Understanding Irrevocable Trustsp. 50
Is a Trust Necessary?p. 50
Using Trusts to Reduce Taxesp. 59
Sidebar: How long can a trust last?p. 64
The Alternative to a Trustp. 64
If a Trust Is Necessaryp. 65
How many trusts?p. 65
Choosing an estate attorneyp. 66
Locating a trust's "home base"p. 69
Choosing a Trusteep. 69
Anticipating Disputes and Attaching Stringsp. 74
What Does a Trust Cost?p. 82
Once the Trust Document Is Written, Then What?p. 82
Part 2 When Wealth Changes Handsp. 84
Steps to Take When Your Parent or Spouse Diesp. 87
At the Time of Deathp. 87
After the Funeralp. 88
In the Months after Deathp. 91
Sidebar: The estate of Donald B.: A sample timetablep. 92
The Executorp. 93
Duties of Executorsp. 93
If You Are the Executorp. 94
Local Estate and Inheritance Taxesp. 94
Your Inheritancep. 94
If There Is No Willp. 94
If There Is a Willp. 95
What to expectp. 95
Your right to access the willp. 95
Contesting a willp. 95
After the Will Is Settledp. 96
Can money change you?p. 97
Dealing with grief issuesp. 98
Quick Tipsp. 100
Choosing Professional Advisersp. 102
Family advisers, or choose your own?p. 105
A Quick Guide to Professional Advisersp. 107
Lawyersp. 107
Accountantsp. 108
Investment advisersp. 109
Stockbrokersp. 110
Financial plannersp. 111
Insurance agentsp. 112
Therapistsp. 112
To Commingle Assets or Not?p. 114
Rewriting Your Own Willp. 118
Part 3 Handling New Wealthp. 120
Managing Your Direct Inheritancep. 125
Utilizing Your Professional Advisersp. 125
Investingp. 127
If You're a Surviving Spousep. 129
Planning Your Own Estatep. 131
Living with an Irrevocable Trustp. 131
Your Goals as a Trust Beneficiaryp. 131
Your Rights to Information about the Management of Your Trustp. 132
Dealing with Trusteesp. 132
Improving your trustee's performancep. 139
Checking investment performancep. 144
Challenging management feesp. 146
Is your trustee ripping you off?p. 147
Settling Disputes: Confrontational Tacticsp. 147
Going semi-publicp. 147
Going publicp. 148
Going to the governmentp. 149
Suing a trusteep. 150
Removing your trusteep. 151
Choosing a Successor Trusteep. 154
Dealing with Your Fellow Beneficiariesp. 155
Inheritors' Lifestyle Issuesp. 157
The Importance of Workp. 157
The Rewards of Philanthropyp. 160
A Closing Thoughtp. 168
Resourcesp. 171
Support Groupsp. 172
Inheritors' Support Groupsp. 172
Related Support Groupsp. 173
Inheritance and Wealth Advisersp. 174
Personal and Technical Money Issuesp. 174
Family Business Consultantsp. 176
Philanthropic Consultantsp. 176
Psychological Issuesp. 177
Organizationsp. 178
Family Therapyp. 179
Publicationsp. 180
Booksp. 181
General Resource Guidesp. 181
Trusts and Estatesp. 181
Psychology of Inheritancep. 183
Money Management and Personal Financep. 184
Meaningful Workp. 185
Contributing Your Timep. 185
Socially Responsible Investingp. 186
Philanthropyp. 187
Selected Articlesp. 188
Magazinesp. 188
Papersp. 189
Newspapersp. 189
Government Agenciesp. 190
Glossaryp. 193
Indexp. 202