To: ANANT who wrote (348 ) 3/19/2000 4:43:00 PM From: Sonki Read Replies (1) | Respond to of 395
A good starting point for those jumping into the estate planning process is a Crash Course in Wills and Trusts (www.mtpalermo.com), which covers a wide range of estate planning issues, addressing both simple and more complicated arrangements. A site administered by North Carolina attorney Dennis Toman, www.estateplanninglinks.com, has become a clearinghouse for estate-planning information, and it includes hundreds of links to frequently asked questions, checklists, law firms, articles, legal documents and calculators. It also provides links to sites that address legal concerns specific to different states. One of the best, Mr. Toman says, is the Texas Probate Web site (www.texasprobate.com), which rates other tax and estate-planning sites, and has plenty of information on legal issues that aren't specific to Texas. Publishing company Nolo.com (www.nolo.com), of Berkeley, Calif., calls its site a "self-help law center," which provides easy-to-understand descriptions of complicated legal arrangements, such as living trusts and how to get the most out of gifting rules. It also includes an extensive legal encyclopedia to explain in laymen's terms the more complex legal concepts. For people looking for help advising aging parents about their legal and financial options, www.elderweb.com is a research-oriented site with links to hundreds of articles and localized resources, and it covers legal, financial and medical issues relating to elder care. Mr. Toman says that estate-planning calculators, which allow users to enter pertinent financial data and calculates estimated tax liability and estate growth, are also extremely helpful tools for consumers to become better prepared for meeting with their advisers. "You have to understand the assumptions that are built into [calculators], but they're a helpful tool to point out the estate tax consequences or the retirement possibilities," Mr. Toman says. One particularly helpful calculator can be found at the recently launched Fidelity Legacy Services -- a program that integrates advice from financial giant Fidelity Investment with Ernst & Young's accounting expertise -- that can be found on Fidelity's site (www.fidelity.com). The service offers a free interactive estate calculator and allows users to account for specifics such as assets, liabilities, insurance and charitable bequests. After calculating the federal tax liabilities of the estate and projecting its growth for the future, the Fidelity site offers each user a personalized list of strategies to consider with their legal and financial advisers, such as establishing a living trust, updating wills or beneficiary designations, gifting and charitable giving. Vanguard Group (www.vanguard.com) also provides an interactive calculator on its site, which allows visitors to enter their assets from IRAs and other sources, then projects the value of the estate, along with information about the strategies used to achieve that value. For those looking to get in touch with an attorney or financial planner, the National Association of Financial and Estate Planning (www.nafep.com) maintains a network of attorneys and financial planners and can make recommendations to users across the country.