I would like to see a diagram that shows The steps of how Trust relates to a Holding company and how the holding company relates to LLC's that control the Assets.
all this sounds great, but before doing all of this you mention revocable many times, so what is the difference between revocable and irrevocable? non of this makes sense until we know the answer to this question?
Hello, Can you use an assignment to transfer real estate, brokerage accounts and LLCs to your irrevocable trust without changing the deed at the courthouse?
Yes please make a video of differentiating wills from trusts. Also is a trust an account? How do you create a living trust? Can you use a trust to buy items or property through your trust? Would it effect your taxes?
There are no real tax implications of a trust and you can (and probably should) use it to buy property or other assets. A trust is just a legally binding document.
Thanks so much for very informative information about the Trust Fund. Yes, we’d like to educate more about between the Will vs The Trust fund. Thank you. 👍
@@LoveConquerz the company I work for had a legal benefit through ARAG so we used one of their lawyers to draft it up. It was a multiple step process as they asked us what we were trying to accomplish and I asked for some changes added. In some cases trusts through these types of legal services can be basic but the lawyer we worked with was very helpful and accommodating.
I have some property (house and barn with a rental apartment upstairs) I purchase to turn into businesses. Do I have to make a legal transfer as in when I purchased the property? Or is it just listing it in the Trust papers?
When should an estate be created? For an example: as soon as a business is started, when the business becomes profitable, what is the minimum value 10k, 25k, etc. Or can you wait until things are established and profitable to obtain an estate and transfer everything over to the estate?
I totally need to explore/learn about trusts' & wills. Definitely need the piece of mind knowing what'll happen with my things after I pass away! Love LYFE Accounting on TH-cam!
Thanks so much for straight forward presentation but can you all explain the steps and process to move assets into the Trust? for example bank accounts, real estate and retirement funds. Is it as simple as adding the Trust as the beneficiary of the bank and retirement accounts? Please explain the process for real estate with a mortgage. Thanks! you are the best!
I’m 24, learning about trusts, trust funds, llc’s, ein’s, c-corps, and so on, but I’m still not sure what the best way to invest is. I’m not sure what I should do first, can anyone enlighten me? I have no mentors, no parents, no siblings, no kids, and most importantly, little bills, but I want to provide for my nieces and nephews and end my families streak of poverty, But failure would be devastating. I’m afraid of starting a family without financial security.
Will vs Trust. That's a great idea. I click like on any of your videos before watching it because I am already sure of the quality of this channel. Each of you are special. I am impressed how concise and clear are the videos. Thank you very much. Alberto.
After the conditions are met by the beneficiary, are the funds in trust funds taxable? Do you need more than one trust fund for multiple beneficiaries? Would like to see the video on Wills vs Trust funds! And I TRUST that you WILL do another corny joke 😆😁
Hey Bree, so it would depend on if there were any realized gains on the assets within the trust. For example, if there was $100,000 cash in a trust fund and that money was already taxed, then there would be no need for the beneficiary to pay taxes. But if there were $100,000 of stocks in the trust fund and that appreciated to $120,000 before it was distributed then you would need to pay taxes on the $20,000 amount. Does that make sense? I may do a video on this too. And I love that joke hah, I might use it in the next video! .
Well you did not show us how to set a trust fund. You talked about setting up one, a couple reasons why & suggested a couple websites or a expensive attorney.
If I wanted a huge drawn out story about WHY I damn sure would not have clicked a HOW to video. If someone didn't already know why they should use a trust...they probably would not have clicked a video on how to. TH-camrs never want to get to the point.
A revocable living trust is the worst thing you can tell your audience to have. The unincorporated business trust is the crème de la crème of all trusts near has been hundreds of caselaw on unincorporated business organizations.
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I would like to see a diagram that shows The steps of how Trust relates to a Holding company and how the holding company relates to LLC's that control the Assets.
Me too!
Amen
Me too
Me too
Talk to cpa lol
I’m 23 years old and I came across this video, I appreciate this content. It was very informative.
all this sounds great, but before doing all of this you mention revocable many times, so what is the difference between revocable and irrevocable? non of this makes sense until we know the answer to this question?
Definitely making my kids watch 300 lyfe accounting videos before they inherit my $47 trust fund
U mean 47 million dollars trust fund😂😂😂😂......I pray u get this money if not already in ur possession😂😂
More please.!...trust funds vs will, revocable vs irrevocable, foreign vs local
Ohhhh great topic suggestions. Will talk to the team about adding them.
Thank you for sharing this info! I would very much appreciate a video outlining the differences between a Will and a Living Trust. Thanks again!
Hello, Can you use an assignment to transfer real estate, brokerage accounts and LLCs to your irrevocable trust without changing the deed at the courthouse?
Where are you from Derrick?
@@taneshiajefferson5096 , South Carolina
Make a video about wills verse trust funds
Thanks for sharing, duly noted!
☝🏾☝🏾This!
A person receiving anything from a will can be taxed for the things they inherit.
Yes please make a video of differentiating wills from trusts. Also is a trust an account? How do you create a living trust? Can you use a trust to buy items or property through your trust? Would it effect your taxes?
There are no real tax implications of a trust and you can (and probably should) use it to buy property or other assets. A trust is just a legally binding document.
What’s the benefit of getting a EIN form 98 for a Trust?
Thank you so much for the info! Btw, I like the way you emphasized the words “TRUST FUND” every time you said it lol
Thanks so much for very informative information about the Trust Fund. Yes, we’d like to educate more about between the Will vs The Trust fund. Thank you. 👍
Will has to go to probate court!!
Great Video. We had a will for years and recently created a Trust since we have Rental Property Out of State so we wish to avoid Probate.
That is awesome! Thanks for sharing
Did u go to a lawyer or did u do it yourself
@@LoveConquerz the company I work for had a legal benefit through ARAG so we used one of their lawyers to draft it up. It was a multiple step process as they asked us what we were trying to accomplish and I asked for some changes added. In some cases trusts through these types of legal services can be basic but the lawyer we worked with was very helpful and accommodating.
YOU ARE SO VERY EDUCATIONAL AND KNOWLEDGEABLE
Is a revocable trust and pour over trust the same thing?
Pay self thru a trust account like Warren Buffett
That was an amazing and informative video my brother!
I e watched several videos on this and you are the first to give understanding of how this works. Please send me the video about will and trusts.
Please make the video of the difference of will and trust funds
Thanks for chiming in on this, will consider adding it to the queue if more comments come in!
I can help secure fundings.....
Thanks for explaining what is a trash can you make a video showing step-by-step on how to set up a trust where to go who to contact etc. etc.
thanks, your video was helpful!
Thanks for a step by step overview of what’s involved with creating a trust but by no means was this a step by step creating a trust fund
Very interesting information because I didn’t have no idea. Thanks for the information. Keep up the good work as a matter fact I need one.
Agree with the comments on a video comparing Trust Funds and Wills. Great content as always!
Thanks, Benjamin! I am getting close to adding "Trusts vs Wills" to the video queue, but we'll see...
Yes, I would like to know the difference between a trust and a will.
Thank you!!! This answered all my questions.
So where would you go to get a trust fund? Are there like certain places that you can go to shop around? Or how does it work?
Thank you for making this video with such a wealth of information🙏
I have some property (house and barn with a rental apartment upstairs) I purchase to turn into businesses.
Do I have to make a legal transfer as in when I purchased the property?
Or is it just listing it in the Trust papers?
I would love for you to make comparison video of trust fund vs a will. This is great educated info ppl really don't know these are anyone's options
Great video! I would love to see one on trust vs will.
Did u ever make the other video? I’m about to search now but i still had to like comment and subscribe first
When should an estate be created? For an example: as soon as a business is started, when the business becomes profitable, what is the minimum value 10k, 25k, etc.
Or can you wait until things are established and profitable to obtain an estate and transfer everything over to the estate?
I totally need to explore/learn about trusts' & wills. Definitely need the piece of mind knowing what'll happen with my things after I pass away! Love LYFE Accounting on TH-cam!
Exactly, planning is key. Thanks for your support!
Very clear explanation. Thank you.
liked and subscribed. thank you for the education
Thank you, this was very helpful!
Please do, you the best. Actually all of you guys are outstanding 🥰
Wow, thank you so much. Means the world to hear that, 💯
Thank you ,good information/straight to the point.
Thanks!
Yes, that was my next question, What's the difference between a trust and a will?
Yes please post video trust vs will.
How much money is needed to open and start a trust fund?
Hi have a question , if you don't have a lot of money what the minimum you could start with
Great information, thank you for sharing 👏👏.
Can we include items that are currently still being leased or financed (vehicle that isn't paid off or properties)?
How much would I be looking to pay to initiate the trust and notary?
Thanks so much for straight forward presentation but can you all explain the steps and process to move assets into the Trust? for example bank accounts, real estate and retirement funds. Is it as simple as adding the Trust as the beneficiary of the bank and retirement accounts? Please explain the process for real estate with a mortgage. Thanks! you are the best!
Yes make an in-depth video on a trust fund and will. Great video by the way.
Which would benefit my family most a trust / will?
Yes. Pls do wills vs trust
Noted, thanks for sharing your opinion
Can you advise if you putting property and business in Trust. the Trust Does it need to be recorded for properties?
I’m 24, learning about trusts, trust funds, llc’s, ein’s, c-corps, and so on, but I’m still not sure what the best way to invest is. I’m not sure what I should do first, can anyone enlighten me? I have no mentors, no parents, no siblings, no kids, and most importantly, little bills, but I want to provide for my nieces and nephews and end my families streak of poverty, But failure would be devastating. I’m afraid of starting a family without financial security.
You're thinking right bruh. Save as much as you can. You can invest small at first.
Don’t save, interest rates are crap right now. High risk high reward is the only way.
What happens if we use an institution as the trustee and it goes oit of business of something what does the beneficiary do?
Thank you for sharing 😊
😂😂 the opening statement
Will vs Trust. That's a great idea. I click like on any of your videos before watching it because I am already sure of the quality of this channel. Each of you are special. I am impressed how concise and clear are the videos. Thank you very much. Alberto.
That means so much, thank you, Alberto!
Thank you.
Hi,I also would like to see a diagram,the steps for setting up a trust and its relationship to a holding company……Thanks in advance……..
At 10:10 you misspelled argument bro. Great video.
nice, thanks giving an overview of "how" to do it.
This was very informative.. Thank you☺️👌
I always appreciate the insight. 👍🏾🤞🏽 Thank you so much for caring and sharing🙏🏽💯🎉😍
Great information
What is the template websites
If you have not already done so, please do the will vs. trust fund video.
Thank you!
Question:What if you have and S-Crop
Very informative 🙏🏾👑
Please Make one on trust VS a will
Haha love the intro!
Yes, definitely make a video comparing a will versus a trust fund.
Coming soon!
Really nice explanations..
Thank you for this video
Is it like a WILL
good information and good presentation
2:13 begins
Please let me know how to create a trust fund for business purposes
Good sh🎉t ❤
Excellent...thank you!
Awesome video! Thank you! ❤
Isn't a trust fund better because your beneficiaries won't have to pay taxes on the money distributed to them?
I believe so, but I too would like to verify this.
Does adding My Rental Property and each one of my other businesses (that are all on the same property) prevent them from paying taxes?
A trust fund is a great way to transfer your assets like your rental property without triggering a taxable event
Please make a difference between a will or trust fund
should I still do this at this point of my life? I am currently 18 years old with no assets but I do have businesses.
Your business is an asset, but you likely don't need to yet
Great info, please make the more in depth video on Trust
May I get a consultation? How do I reach out to u?
After the conditions are met by the beneficiary, are the funds in trust funds taxable? Do you need more than one trust fund for multiple beneficiaries?
Would like to see the video on Wills vs Trust funds! And I TRUST that you WILL do another corny joke 😆😁
Hey Bree, so it would depend on if there were any realized gains on the assets within the trust. For example, if there was $100,000 cash in a trust fund and that money was already taxed, then there would be no need for the beneficiary to pay taxes. But if there were $100,000 of stocks in the trust fund and that appreciated to $120,000 before it was distributed then you would need to pay taxes on the $20,000 amount. Does that make sense? I may do a video on this too.
And I love that joke hah, I might use it in the next video! .
@@LYFEAccounting that makes sense! Thanks!
The joke in the beginning 😂😂😂
Yes
Pretty good opening joke 😂.
Where can I go to start a trust fund??
Yes, make the verses video please.
How can I find out if a trust fund has been established after a loved one has passed? Where to begin a search?
yes dance its soo fun!!
Well you did not show us how to set a trust fund. You talked about setting up one, a couple reasons why & suggested a couple websites or a expensive attorney.
Excellent....
If I wanted a huge drawn out story about WHY I damn sure would not have clicked a HOW to video. If someone didn't already know why they should use a trust...they probably would not have clicked a video on how to. TH-camrs never want to get to the point.
You will know beyond, your thoughts
How do I find these lawyers
A revocable living trust is the worst thing you can tell your audience to have. The unincorporated business trust is the crème de la crème of all trusts near has been hundreds of caselaw on unincorporated business organizations.
Do you know how to setup a unincorporated business trust?
Thumbs up for the dad joke 😄!
No one answers the simple question is where do you go? Do you go to a bank or an attorney?