Estate Planning Book Club

My top picks for further reading on Estate Planning - let’s discuss!

---

I collaborate with forward-thinking professionals on ways to pass their values and prosperity to the next generation, all through the estate planning process here in Louisiana.

Last year, I made a pact with myself to get back in touch with one of my oldest hobbies: reading. This past December, I posted my reading list from 2022. I got such a wonderful response from that blog and was so grateful to share in the book-club-style discussions that followed over recent weeks.

I found that many of us had similar relationships with reading. And, that many of us wanted to return to a thriving reading habit sooner rather than later.

When I was younger, I read all the time. I could rarely be found with my nose outside of a book. Then, I went to law school which brought reading into another stratosphere with volume after volume of legal papers and encyclopedic texts. Once I had my two boys, more and more I found myself reaching for my phone instead of picking up a book at the end of the day.

I know I’m not alone in wanting to prioritize habits that don’t involve my phone or a screen.

This got me thinking about my estate planning practice.

Every week, I try to bring insight into a deeper conversation about estate planning in Louisiana. My goal is to make estate planning as approachable and easy to understand as possible. I welcome any feedback and questions about what you may or may not understand about this incredibly important process. But, I know I’m not the only one out there shedding light on the legal aspects of planning for the future.

I decided to put together a list of recommended estate planning books that I think will help anyone reading this blog post.

In hopes of continuing the conversations around estate planning, I present to you: the Estate Planning Book Club.

The following list comes from an important part of my practice, the goal of sharing estate planning knowledge with anyone who wants it.

In this post, you’ll find my top 3 picks for estate planning books, plus a few others that I believe are easy to read and incredibly informative.

While there are many ways to succeed in estate planning, a broader understanding of the process can help you choose the goals that will best suit your individual estate planning experience. These books are not specific to Louisiana, so anyone out there who is curious should take a look.

Once you’ve read through these texts, I’m sure you’ll have some questions. You might even be ready to start or improve your own estate plan. No matter where you are in your estate planning journey, I’m here to guide you to the best plan possible for you.

You can schedule a strategy session with me whenever you’re ready to move forward.

Are you having a hard time getting started or finishing your estate plan? Check out my post about how to overcome estate planning paralysis. Also, be sure to pick up one or all of the books to help you wade through the waters of estate planning.

Remember: a well-planned estate can help your family through their worst day.

Plan today for peace of mind tomorrow.

---

Need to ask specific questions about your situation? I’m here for you.

---

Before we get started, let’s do a brief recap of important things to remember when it comes to estate planning.

1. There is no crystal ball. No matter how hard we try, no one knows what the future holds. By creating an estate plan, you are making a well-informed, present-moment plan of action. When working with an estate planning attorney, you have a knowledgeable guide who can help you make the best decisions for you.

2. Estate Planning is way more than a will. While a will is a very important part of any estate plan, there are several other documents that you will need to finalize in order to make the right estate plan for you and your family.

3. It might be time to work with an estate planning lawyer. While this post does not contain any legal advice, the information it contains can help you decide whether or not working with an estate planning lawyer is right for you. When you’re ready to get started, you can book a strategy session with me.

If you read these books and feel more lost than you did before, it might be time to work with a licensed estate planning attorney in your state.

For those of you in Louisiana, I offer 60-minute strategy sessions for those looking for a deeper understanding of their own estate planning options.

Booking one of these strategy sessions makes it possible for me to give you legal advice based on your specific goals, and help you formulate a plan. While an estate plan does take work, working with an estate planning lawyer can reduce stress and save you time and money in the long run.

This strategy session can be a one-time meeting where you ask questions and formulate your own plan. Or, a strategy session can be the beginning of client/lawyer collaboration, where we work together to investigate your estate planning goals and design an effective and customized estate plan where I do much of the heavy lifting. Either way, we can get a lot done in an hour. (Book a strategy session now!)

I’m ready when you are!

---

If you’re looking to deepen your understanding of estate planning, then sign up for weekly insights and best practices here:

---

Addie’s Book Club Recommendations

Please send any other recommendations for estate planning must-reads my way! I’ll be sure to share them with the Estate Planning Book Club!

If you have any questions about these books or the estate planning process, you can reach out to me at info@addieprewittlaw.com, or book your own strategy session here.

When Someone Dies

by Scott Taylor Smith with Michael Castleman

Although we all understand, at some level, that death is inevitable, very few of us actually get the logistics of what actually happens when a loved one passes away.

Not only is the passing of a loved one wrought with emotion and change, but it’s also a time that is marked by an onslaught of demanding requirements. Most of us just want to do right by our loved ones. But, even with the best of intentions, we can all fall prey to the weight of obligations when someone dies. 

This book is at the top of my recommendations because it is an extremely accessible read.

Where other texts get bogged down in legal jargon and dense ideas, this book is a simple, straightforward text designed to help you design your plan of action.

Check out this excerpt from "When Someone Dies”:

“This is not a book about grief or grieving. Instead, this is a succinct, step-by-step guide to all the practical things you must do after someone dies to settle the person’s affairs as quickly and cost-effectively as possible. If you follow our advice, your life will be easier, the costs associated with the death will be much lower, and you’ll find that you and other grieving family members and friends will get along much better.

Of course, no one enjoys dealing with bureaucracies—funeral homes, banks, the Internal Revenue Service (IRS), Social Security, and so on. And it’s particularly alienating to have to do it now. But some decisions can’t wait, and if you’re the one dealing with the practicalities—the executor of the decedent’s estate—this book should lighten your burden.”

This quick read by Scott Taylor Smith and Michael Castleman lays out each step of fulfilling someone’s estate plan with clarity.

Each chapter organizes actionable steps into digestible parts.  I highly recommend reading this book before you’re faced with the death of a loved one, though that is not always possible. If you’re at all curious about estate planning, it’s the perfect time to pick this book up and give yourself some idea of what will happen when someone passes away. It’s so much better to prepare yourself before you need to enter the world of will executorship or probate court.  

What I find so helpful about this book is that Smith relates to the estate planning process as someone who helped his mother prepare her estate planning documents prior to her death.  He recounts his own experience after she passed. As someone who is familiar with the process, he recounts what he went through from a general and personal perspective. Additionally, he breaks down the process chronologically, helping the surviving family members understand not only what to do, but when to do each step.  

While there are different situations depending on the person, this book gives a clear timeline of what one can generally expect when working through an estate planning process.

Here’s another excerpt from "When Someone Dies”:

“When Someone Dies is for everyone who finds themselves contending with the logistics and practicalities of closing out a loved one’s earthly presence. In particular, we’ve written this book with executors (or trustees) in mind… We’ve organized this guide temporally to cover what you need to know and do as the death becomes imminent, the immediate aftermath of the death, the few days to a week or so after, several weeks to months after, and months to a year or so after.” 

Each chapter is accompanied by a checklist and the last half of the book is packed with reference material and legal documentation that will guide you through the difficult process.

You can learn about these topics and more:

• Making funeral and memorial service arrangements

• Writing an obituary

• Estate planning

• Contacting family and friends

• Handling your loved one’s online footprint

• Navigating probate

• Dealing with finances, including trusts and taxation

If you have questions about this process specific to Louisiana Estate Planning, you can reach out to me anytime at info@addieprewittlaw.com.

Are you ready to get your estate plan secured? Schedule a strategy session with me today.   

Buy When Someone Dies by Scott Taylor Smith with Michael Castleman here. 

---

Plan Today for Peace of Mind Tomorrow

---

 Estate Planning in Louisiana

by Paul Rabalais

Much of what happens when a loved one passes away is determined at the state level.

As a Louisiana Estate Planning lawyer, I understand the ins and outs of going through this process. However, it is so important for all Louisiana residents to understand what actually happens when someone passes away and why estate planning is vital for every single person living in the US. 

Since every person has a unique experience, answering all questions for each situation is nearly impossible. However, Estate Planning in Louisiana by Paul Rabalais does a good job of reviewing this process as it pertains to Louisiana specifically.  He focuses on using language in a way that won’t put you to sleep, making it even more possible to understand the complexity of estate planning.

Rabalais explains in detail how to do the following:

• Avoid potential delays and expenses of probate 

• Shield your assets from nursing home costs 

• Preserve your entire estate for children and grandchildren 

• Make your wishes known during incapacity 

• Protect children’s inheritance from divorce and creditors

Every Louisianan should have an estate plan.

Without one, the potential for a difficult probate process to become more costly, complicated, and emotionally draining is almost a guarantee. I highly recommend this book to anyone with an aging parent, or any member of a large family where the estate plan is not known or easily accessible.  

However difficult it feels to get started on estate planning while your loved one is alive, it will be exponentially more difficult once they pass without an estate plan.

Are you living in Louisiana and looking for an estate planning attorney? 

As a native Louisianan and estate planning attorney, I am here for you whenever you’re ready to get started.

Reach out to me anytime to schedule a strategy session, we can get going on your estate planning in no time.  

Buy Estate Planning in Louisiana by Paul Rabalais here. 

---

---

Managing a Special Needs Trust: A guide for Trustees

by ​Barbara Jackins, Richard S. Blank, Ken W. Shulman 

Estate Planning and probate, referred to as succession in Louisana, is definitely packed with demanding decisions. These processes are full of documents and procedures that need to be followed with a heavy focus on detail. This is true for anyone drawing up their estate plan but can be made even more complicated if someone with a trust has a disability.

These situations can be made difficult if the special needs person is incapacitated and unable to advocate for themselves.  Managing a Special Needs Trust: a Guide for Trustees is an invaluable guide for anyone who is managing this kind of trust.

Many people live with disabilities at any stage of life. However, if you are a caregiver of an aging parent or loved one who you think might benefit from a special needs trust, then this book should be at the top of your list.

While diving deep into the complicated subject matter, this book details the fundamental facts and nuances surrounding individuals and families seeking the protection of a special needs trust.

This new version covers all 50 states and goes into detail about:

• Opening a new trust

• Taking over a trust that is already established

• Managing the trust so as to receive maximum government benefits, including SSI and public housing

• Reporting to the beneficiary with a disability and other family members

• Minimizing income taxes

• Managing trust investments

• Working effectively with attorneys, financial advisers, case managers, and social workers. 

There are also full chapters on:

• Taxes

• Investments

• Trustees

• Housing

• SSI & SSDI

• examples of Assent Forms and Trustee Forms. 

This book is an all-inclusive one-stop-shop for anyone embarking on special needs trusts for the first time or for those who have been at it for years.  

Although tons of information is covered in this book, specifics pertaining to Louisiana might not be included to the degree that you’re looking for.

If you have any questions or want to move forward with a special needs trust in Louisiana, I’m here to help.

If you have questions about trusts, special needs, or otherwise, I’m here to answer them.  You can email me at info@addieprewittlaw.com or you can go ahead and schedule a strategy session with me ASAP.  

Remember, you’re not alone in this process. 

Buy Managing a Special Needs Trust: A Guide for Trustees by ​Barbara Jackins, Richard S. Blank, and Ken W. Shulman here.

---

It’s always a good time to plan for your family’s future.

---

More Estate Planning books to add to your library:

Living Trusts for Everyone

by Ronald Farrington Sharp (buy it here)

From Amazon:

Living Trusts for Everyone is the best resource for setting up a living trust. Explaining in specific terms what benefits a trust will have, Ronald Farrington Sharp gives the tools necessary to set up a loved one’s trust with no lawyers and no expense.

Wills benefit lawyers. Trusts benefit the clients. Too often lawyers sell wills to clients only to sit back and wait to sell their probate services to their clients’ heirs. Ronald Farrington Sharp describes the best way to handle modern estate planning and details the many advantages trusts have over wills in not only eliminating probate but in also protecting your assets for your heirs. Sharp explains why legal services are not needed to do the clerical work in settling a trust after death. This updated edition includes new information on an array of subjects, including:

• Elimination of the federal estate tax for most estates due to increased exemption amounts

• Online assets

• The use of passwords, usernames, and websites

• Keeping trustees honest and the process of removing trustees for malfeasance

• Forms for simplifying the planning process

• Strategies to lower attorneys’ fees

Get it Together: Organize Your Records So Your Family Won’t Have To

by Melanie Cullen and Shae Irving J.D. (buy it here)

From Amazon:

Do your loved ones know where to find your life insurance policies, online banking passwords, real estate deeds, or even your will?

If you’re like a lot of people, you keep important information—from the whereabouts of family heirlooms to online passwords to automatic bill-pay details—in your head or stashed in the odd desk drawer. Unfortunately, this disorganization will likely cause hassles for those who someday take care of you or your estate.

Get It Together provides an easy, straightforward method to help you and others keep track of:

• secured places and passwords

• employment records

• insurance policies

• real estate records

• tax records

• retirement accounts

• estate planning documents

• funeral arrangements

• letters to loved ones

Get Your Ducks in a Row: The Baby Boomers Guide to Estate Planning

by Harry S. Margolis (buy it here)

From Amazon:

If you’re over 55, you probably know you need an estate plan. What you might not know is how to create one. Questions about cost, confusion about options, and difficulty talking about subjects like disability and death can make the process of preparing for the future seem overwhelming. That’s probably why most people put it off—even though the results of doing nothing can sometimes be devastating.

Written by elder law and estate planning expert Attorney Harry S. Margolis, Get Your Ducks in a Row: The Baby Boomers Guide to Estate Planning takes you through the estate planning process step by step. Whether you’re currently creating a plan, getting ready to start, or looking for an explanation of documents you’ve already signed, this book will provide the information you need, including:

• Answers to the most common estate planning questions

• Common estate planning terms demystified

• The five (or six or seven) essential documents everyone over 55 needs (and how to fill them out)

• An overview of more complex estate planning scenarios

• Help deciding when it’s time to consult an attorney

• And more...

The estate planning process is totally up to you. Which can be the scary part.

It’s true that each state has regulations and specifications that directly impact estate planning for its citizens. However, when beginning your estate planning journey, regardless of which state you live in, I highly recommend taking some time to research and learn as much as you can.

Having this period of R&D can dramatically improve your understanding of the entire process and guide you to making the best decision possible for you and your family.

Before approaching an estate planning lawyer near you, it can be a very helpful step to read through some or all of these recommended books. You’re not expected to know everything there is about estate planning when you start the process of working with an estate planning attorney. However, having a general understanding of what you’re looking for can lead to a richer collaboration between you and your lawyer.

When you book a strategy session with me, we break this daunting process down into simple steps - starting with a simple inventory of your personal situation. Most of the estate planning process is a discussion of your goals and intentions when it comes to aspects of your life and death.

It can be a daunting conversation.

Which is all the more reason to arm yourself with the knowledge that feels right for you. I’m happy to discuss options and run scenarios with my clients. I feel the best ideas and the most comprehensive plans come out of these collaborations. By the time we’re signing your documents, you’ll have a comprehensive inventory of your stuff and a clear plan for the future.

Think about an estate plan as an intention about what you’re going to do in the future.

A well-informed collaboration helps us create an estate plan, and see what needs to be done now in order to achieve that plan in the future.

I hope you will add these books to your 2023 reading list. I would love to hear your thoughts on these books and am always open to more recommendations for the Estate Planning Book Club.

Happy Reading!

Take Care,

Addie

---

Are you ready to create an estate plan that’s right for you?

---

FAQ

Q: Do you have estate planning book recommendations?

A: Yes! Here is the list for the Estate Planning Book Club.

• When Someone Dies by Scott Taylor Smith with Michael Castleman

• Estate Planning in Louisiana by Paul Rabalais

• Managing a Special Needs Trust: A Guide for Trustees by ​Barbara Jackins, Richard S. Blank, Ken W. Shulman 

• Living Trusts for Everyone by Ronald Farrington Sharp

• Get it Together: Organize Your Records So Your Family Won’t Have To by Melanie Cullen and Shae Irving J.D.

• Get Your Ducks in a Row: The Baby Boomers Guide to Estate Planning by Harry S. Margolis

Q: Which documents will I likely need to create a complete estate plan?

A: It can vary from client to client, but generally, folks looking to make an estate plan can count on needing some, if not all, of the following documents:

• Last will and testament

• Living trust

• Beneficiary designations

• Financial power of attorney

• Advance healthcare directive/healthcare power of attorney

• Insurance policies (health, life, car, home, etc.)

• Titles and property deeds (car, home, boat, rental property)

• Proof of identity (social security card, prenup agreement, birth/marriage/divorce certificates, etc)

• Digital logins and passwords (yes, all of them)

• Funerary instructions (although I believe these should be given directly to your loved ones prior to your death.)

Q: What is a trust?

A: A trust is an arrangement in which a person (called the grantor or settlor) gives property to another person (called the trustee) to hold such property and administer and manage it under the terms created in the trust instrument or agreement for the benefit of certain named persons (beneficiary). 

In this arrangement, the trustee is a fiduciary, which generally means that the trustee has to act in the best interests of the beneficiaries. 

As if that is not complicated enough, a person can hold more than one office (settlor, trustee, beneficiary) at the same time. For example, in a living trust (or revocable trust), the same person is typically the settlor, the trustee, and the beneficiary. The purpose of creating a trust will dictate whether the same person can occupy multiple roles.

Q: Should I include funerary instructions in my estate plan?

A: Yes!

First, you should absolutely have clear and thorough instructions for your final wishes, including specifics on funeral arrangements and any specific rituals or ceremonies you’d like performed. I strongly recommend that these instructions be given to your loved ones prior to your passing.

Second, if you are able to do so, I recommend that my clients go ahead and finalize any aspects of their funeral/final wishes that they can. Meaning, go ahead and secure everything you can think of surrounding your funeral prior to your death. I see surviving family members encounter the highest levels of stress and the most money spent when it comes to putting together a funeral in the days after someone passes. I recommend that, if you are able to, make these arrangements ahead of time to save your family as much money and stress as possible.

---

Take a look behind the legal curtain.
Receive estate planning insights right to your inbox!

---

Take a deeper dive into Lousiana estate planning with more posts by Addie Prewitt Law:

Stay Connected with Addie