Wright's Wills, Trusts, and Estates: A Primer

Everyone should know something about how property transfers upon death since that day will come for all of us. This book provides basic information about wills, trusts, powers, joint tenancies, multi-party bank accounts, beneficiary designations and the most common devices used to protect our wealth so it can benefit our family and loved ones when we are no longer here to do so. It begins by explaining how property transfers at death, the probate administration process, and the default rules of intestacy. It then covers the basic tools of estate planning: wills, trusts, powers, and the like. The focus is on understanding how the different tools work and their different legal effects. Then, it turns to the complicated interests of spouses and minor children, creditors, fiduciary duties, and finally health-care proxies and funeral instructions. Providing just the right amount of detail and high-level information about a very complicated subject, the book is perfect for law students and lay people alike. It can serve as a textbook for a master’s level class, a supplement for a JD class, and a primer for law-adjacent professionals, as well as informative reading for anyone starting to think about what will happen to their stuff when they die. The book provides statutory examples and explains rules about what happens when a beneficiary predeceases or a testator lacks mental capacity. With attention to detail and an engaging style, this book sheds an important light on the financial aspects of death and dying.