WELCOME! You have now joined a select group of individuals who have
recognized the importance of planning their estates. If you think this is not
a real accomplishment, consider that thousands of individuals die each year
with no will or trust. Many of these individuals had spouses and children,
but without a will or trust, there was, in effect, no plan.
Whenever you fail to create a plan of your own, state law is there with its
own plan. These laws direct who your beneficiaries will be and what portion
of your estate they will receive. Do you know the laws of your state? Do you
know what will happen if you should die today, before you create your plan?
Some people understand the need for planning, but simply put off the deci-
sion to go forward. That great enemy, procrastination, is there to stop even
the most determined. That is why you have joined a very select group of
people who have made the decision to control the destiny of their estates.
You probably were attracted to the title of this book, thinking that in 24
hours, you will have all of the information you need to plan your estate. You
will be partially correct. If you take the time to digest each chapter, one day
at a time, until you complete all 24 chapters, you will have been exposed to
more information than most people, even many attorneys!
What matters most is what you do with your newly acquired knowledge. You
are reading about a legal topic that is taught to law students over a period
of two and one-half to three years. Law students take courses in Estate
Taxation, Wills and Probate, Estate Planning, Advanced Estate Planning,
Corporations, and Partnerships, to name but a few.
There are also financial issues to understand. Certified Financial Planners
are trained in Income Taxation, Fiduciary Taxation, Estate Planning, Charitable
Gifting, Life Insurance, Annuities, Qualified Retirement Planning, Gifting
Techniques, and Estate Taxation.
Estate planning is a hybrid between these two professions. Law students are
not taught all there is to know about financial planning. Likewise, financial
planners are not taught all there is to know about law, nor are they licensed
to give legal advice.
