Estate-planning

"If you don't have time to read, you don't have time to invest." Give me a break! I am constantly amazed that these so-called "independent investment advisors" think that the average investor can reach financial independence and multigenerational wealth without the aid of a well-trained, compassionate and skillful financial advisor. The average parents today are so busy with careers, businesses and family there are probably 3 or 4 seconds left at the end of the day to do any reading for pleasure, let alone financial reading. In Ms. Fisher's world, most of the baby boomers of today would never make it financially since they should not invest because they don't have time to read. Take care of your clients and don't give us any more advice.

This easy-to-use guide to financial planning empowers gen X, boomers, and retirees to understand and manage both their finances AND financial advisors. Many lawyers, brokers, and insurance agents will hate this book. It actually teaches us financial novices to get the most out of our money and our(too often non-client oriented) advisors. Reliance on fee-based coordinating advisors, like Sarah Fisher, IS the way to go! Her approach is totally professional, client-focussed, objective, and honest.

I am very impressed with "1001 Questions". I am a dummy when it comes to financial matters and Ms. Fisher's book as taught me the questions I need to ask to get started on the path to financial success. The book is written to educate all readers from the novice to experienced investor. My husband and I both found it to be very helpful. Great job!

Although interesting, the book does not contain much practical information. It appears to be a college term paper that the author went on to publish. I do wish there were more usable ideas and realistic suggestions.

"Passing It On" is a major achievement. Written by a sociologist, but not dry/abstract: it's full of wonderful human-interest stories.

The book is about second (vacation) homes, and how families share and inherit and strive to keep them going. Author Balfe and her brother (Ken Huggins) have also written a companion book ("How to Pass It On") which gives more specific how-to information. The reader should buy and read both.

I married into a vacation home on an island in Maine. One of 24 houses on the island. First, it was owned by my in-laws; now it's owned by my wife and her brother; and we've set up a system to maintain/preserve the house. Both generations in our families (current middle-aged adults and their children) are very committed to the house; but this is not always the way it is - so I read "Passing It On" and "How to Pass It On" with both interest and concern.

In January, I sent a memo to 75 other people involved in houses on our island. There I said, "'Passing It On' and 'How to Pass It On' are an important resource for anyone who's facing dispostion of property (and that's all of us!). It's a scholarly work, but it also full of very human stories of people like us. So do buy and read. If lots of you have done that by next summer, and you'd like to talk with Judy, I'm sure she'd be very pleased to come to our island for a week-end."

Remember the old adage "the family that plays together, stays together"? Summer houses may keep some families together but not mine. The arrival of spring and the end of summer heralded two major operations-- opening and closing my in-laws' summer cottage. For me their summer cottage became a place of enforced drudgery where I tried to gain acceptance as a dutiful daughter-in-law-until I stopped going altogether. Sound familiar? If your relationship with relatives is heading in this direction get copies of Judith Balfe's books about ways families SUCCEED at sharing and passing on summer houses before it is too late. Even after it is too late Balfe's book still provides insights into how families work through problems of sharing and ACTUALLY HAVE FUN TOGETHER.

Judith Balfe, a sociologist of culture, has produced a compelling reflection on the meanings summer houses have in the lives of owners, their heirs and other users. Passing It On: The Inheritance and Use of Summer Houses focuses on how families reach agreements about what is fair and fun.

Deep feelings often rise to the surface when family members must grapple with questions about how to share the benefits and the burdens. By thinking through these issues families can begin to develop their own solutions building on the experiences of people who have actually worked things out.

A second and much shorter companion volume, co-authored with her brother, Ken Huggins a professor of education, is intended as a short practical manual for developing agreements in changing circumstances-How to Pass It On: The Ownership and Use of Summer Houses. This second book is designed as tool to help families talk about difficult issues and sort out trivial conflicts that could otherwise tear them apart--covering a wide range of issues from rules about sharing toilet paper and allowing pets to dealing with personality conflicts, divorce, taxation and ownership).

Balfe and Huggins draw on their experience as brother and sister who worked through problems when they and their siblings had to deal with inheriting the summer residence from their parents.

In the main book (Passing it on) Balfe presents research from published sources and reports on a study of 125 respondents with summer houses in the U.S. and Canada. The respondents include "founders" (or the first generation of owners), heirs and other users of summer homes ranging from tiny cottages built on leased land to a privately-owned island off the New England coast assessed at US$8 million.

Some readers may prefer to skim the first three chapters about inheritance practices and theories of the function of summer homes and jump ahead to Chapter 4 when the voices of interviewees become stronger and practical advice abounds. But these are useful tools for thinking about the issues. Some accounts are hilarious depictions of the tensions of cottage life and others heartbreaking to read.

In this era of geographic mobility and family breakdown summer houses mean different things to different people- places to play, to express creativity, to work on projects or relax. They may sometimes provide a refuge for solitary retreats or romantic trysts, but in the warm weather months the summer house tends to fill up with relatives, in-laws and friends. These intense bouts of close contact make or break relationships. As people follow jobs to remote corners of the world and family elders retire in smaller abodes the summer home may become the only place where families can physically meet. In the words of one summer house user "This is where we are and do family"(p. 91).

Even within the same family inequities exist. Siblings frequently have different incomes and different levels of flexibility about vacation times; some live further away; some have many children; others none at all; some love pets others cannot abide them. Balfe presents a very useful analysis of various ways owners and prospective heirs plan for passing on the summer home and adapt to changing needs and tastes of family members. When is shared inheritance feasible? Do step-children have the same rights as blood relatives? Who gets to use the cottage during the best summer months? May brother's ex-wife who mother always preferred to her own daughters still have the place for a week each summer? And whose time is reduced as a consequence? Who pays for boat repairs? Should richer family members provide more funds for upkeep? How can handiwork for repairs, cleaning or renovations - or "sweat equity"- be taken into account? What financial, legal and administrative agreements need to be reached for successful sharing? How should owners plan for the next generation of users? When is multiple inheritance feasible?

This is a "must-read" for anyone faced with planning how to "pass it on". In fact I think it provides a useful set of guidelines for sharing other types of accomodation. I particularly liked the idea of the "Boast Book" - a journal of tasks and improvements left in the cottage in which sojourners record their contributions. Moments spent at summer houses certainly provide lasting memories. I wish my in-laws had talked about these issues long ago.

The authors attempt to portray financial strategies that many CPA's and financial planners agree are questionable if not illegal.

One of the easiest to read estate planning books that I have read. I recommend this book for anyone with a taxable estate that needs to understand the issues/concepts of estate planning.

I was looking for financial planning advice that was not intimidating and easy for someone not in a "money & numbers" profession to understand. I found just what I needed in this book. The authors provided information in a common-sense, conversational manner. It was arranged so I could find exactly the topics that apply to me and my family. I found good advice, answers I was looking for and learned alot along the way. I was pleasantly surprised that a subject I had always veered away from could really be presented in such a "user-friendly" format.

For its high price, you may want to seriously think about your needs. If your intention is to buy a book for a broad overview of the development process with a somewhat academic approach, then this may be right for you. If you are builder or someone with prior real estate brokerage/service experience, you may find this too ivory tower and not practical. This book was a bit theoretical for my taste.

Although this book has been reprinted recently, all the data dates back to the late-1990's. Social and economic data are perhaps presented for illustrative purposes only, however, it is a bit disheartening.

There are some interesting project data, financial models and checklists, but frankly, the reader could figure those out on his/her own with some common sense and marginal experience in the industry.

Bottom line -- my suggestion is to review the book at the public library before you buy.

Interestingly, I ended up reading this book like a fiction -- from cover-to-cover. And, it was a fun read. I particularly enjoyed some of the insightful stories of real estate development history, which is clearly a part of our American heritage.

However, I thought the real-life applications of the book's suggestions were victimized by this type of presentation. Certain "case studies" were presented along side a theoretical "how-to" processes to develop properties; these seemed entertaining and thoughtfully presented, rather than real life cookie cutter. And, in many cases, I knew a famous property and became more informed of its origins and characteristics. But it did not unfortunately go the next step to discuss mistakes made, lessons learned, or successful components to highlighted -- which good case studies should endeavor. Moreover, it did not spend much time on architectural issues or financing arrangements that may have solved problems specific to the properties.

I would suggest to any potential Amazon customer to purchase this book only in conjunction with another more hardcore building book and/or architecture book.

I am a 66 year old developer with several successful projects under my belt. This is a fine book for beginning, intermediate, and yes, advanced developers. The best I've ever read, and I've got bookshelves full of them. Also, for a modest fee, you can download from the publisher the software used for the financial illustrations in the book. I had to learn this material the hard way, because when I started out, there weren't any good books on development. If you want to be a developer, start here. If you're an experienced developer, you'll learn a lot from this book. I congratulate the authors for putting in such an immense amount of work.

Would pass on this one...lots of words but not very informative..

I took this book out of a library and then decided that I needed to buy it! I couldn't put it down. The instructions for saving retirement monies from taxes are very clear. I'm going to do as it says immediately.

The book discussed so many subjects that I have been looking for answers in. From estate planning to investment tips. I am glad I bought this book

The information provided in this book is extremely dated and unrealistic. I live in California and I do understand the real estate prices are much higher on average than most parts of the country. However, he uses an example of an average 3BR, 2BA home selling for between $10,000 and $15,000 and continues to use these numbers throughout his book. Somebody tell me where these homes exist? Downtown Baghdad? He gives an example of how to determine the value of a rental income property. He says to take the monthly rental amount and multiply it by 100 to determine the value of the property. His example was $150 monthly rent x 100 = house value of $15,000. I own a rental that rents for $1500. If I used his example $1500 x 100 = $150,000 right? Wrong!!! This same property will sell today for $375,000, which means a buyer's tenants would have to pay $3,750 per month. Gee, do these numbers ad up? You figure!

David Grzesiek has produced in this title, a very detailed, and specific introduction to making money in the real estate business. Avoiding the hyperbole, and excessive claims of other titles in this field, he details methods, and techniques for making profit in single family homes. These are backed up with charts and statistics. The illustrations he uses are not current in the values represented, but he is more interested in conveying understanding of principles, which translate into whatever figures you require with little effort.
Not a make money overnight book, nor a title that neglects detail amidst "positive attitude" bluff, this is a readable, accessible title that I believe would assist people in making a start in a profitable field.

Though this book is easy to read, I believe that it is TOO simple-minded to be of much use for estate planning, preparing a will, settling an estate or anything else concerning death. The author clearly presumes that the reader knows absolutely nothing. More than half the book's pages are tax forms and the IRS instructions for preparing those forms (for the year 1996). Since all current forms are easily available for download from the IRS Internet site or from a local IRS office, including such old forms in the book can only serve to pad the book or to give a very general overview of the potential tax issues an executor may face. Moreover, the death tax laws since 1997 are barely mentioned. The author takes a great deal of space explaining the definitions of terms which are commonly known and giving examples which are common sense. The best and most useful part of the book is Appendix B, which lists all of the states and shows the differences between them in matters concerning wills and taxes. Few other probate books give this information. Also, I should mention that the author avoids those repeated admonitions found in every other book supposedly written for new executors: "You are too stupid to figure out how to do this job. Hire a lawyer and an accountant!" If you are only interested in a very simple overview of probate, wills, estate planning, trusts, and death taxes, then this is the book for you. If however you need details and already understand many of the issues involved, go to your library or buy another book - preferably one written within the last couple of years.

This is a good book if you don't have a lawyer in the family who can answer your probate questions. I had never even been in the courthouse and I didn't know what to expect, so I found this bok a big help. It answers the "dumb" questions that the other books skip. (My 3rd grade teacher always told me there's no such thing as a dumb question). There's also chapters on last illnesses and funerals which similar books don't have. On the other hand the tax materials seem dated, because it's an older book, but then again, if you're not a millionaire you won't be paying death taxes anyway. If you're going to serve as an executor or you're thinking about it and you can only afford to buy one book, this is the one to buy.

I ordered this book based on the fact that it says it usually delivers in about 24 hours. That was March 6th. I now find out that it will not be shipped until March 23rd or 24th. How about some realistic turnaround times, please?

Read "Beyond the Grave, The Right Way and the Wrong Way of Leaving Money to Your Children" instead of this book or before you read this book. I bought both and gave up on this book after a couple chapters. It was a struggle to get through. Very dry, written like a tech manual, a real sleeper. Go read the reviews on Amazon for Condon's book before deciding which one to order. Trust me, you want the other book.

The Cmplete Book of Trusts is an excellent reference for general knowledge about a very cmplex subject! I highly recommend this book to anyone with a need to know. This author has managed to take the "legal" language and break it down into understandable English!

I ordered this book and "Your Successful Real Estate Career" by Kenneth Edwards. I preferred the Edwards book. Since I am just at the beginning stages of exploring real estate as a career possibility, I thought that a good survey book like this would be helpful. But it seems geared to someone who is new to the working world, and even then there are about 100 pages of padding. Lots of info on training programs at community colleges all across the country, how to pick a college, info on financial aid, how to land your first job (very basic resume and interviewing stuff) etc. It might be helpful to someone who is entering the working world, but otherwise you can find the same training requirements info on the Internet in half an hour. The best chapter is the first one, which provides an overview of the type of jobs available in the field (new territory for me).

I was disappointed in this book since I was looking for information about the appraiser profession. This book is focused only on the sales and broker careers and only dedicated 3-4 pages out of 207 to the appraisal career. The title of this book should be changed to reflect this.

When I picked up this book, I knew I wanted to break into the real estate field but I wasn't sure exactly what job I wanted. This book helped me to focus in on all the options and explained the different careers very clearly. I found out about becoming a real estate appraiser, and I am currently in one of the training programs that I found out about from the directory in this book. So I am happy that I came across this book when I did. Otherwise, I'd probably have become a salesperson because that was the career I knew the most about. I am so interested in my studies and love the appraiser program. This book helped to point me in the best direction for me and my interests.

I found this book a waste of time and money. It does not cover how to setup a Family Limited Partnership. It goes on to tell short stories about people/situations that have used Family Limited partnerships.

I had been looking for information on Family Limited Partnerships. This book was very helpful. I found it answered alot of my questions about family limeted partnerships.

This is an excellent introduction to the benefits of starting a family limited partnership. The book also discusses potential pitfalls that can occur if an FLP is not set up correctly. It is well written and easy to read. The appendix includes a list of lawyers who can provide local expertise in major cities across the US. I have recommended the book to friends.