How To Structure An Estate Plan - Estate Planning Series Part 1
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- เผยแพร่เมื่อ 28 พ.ค. 2024
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Welcome to part 1 of a 3 part estate planning series for those in possession of wealth. In this first part, Toby Mathis, Esq. will go over the basics on how to structure an estate plan and make sure you setup your estate for success.
So you've finally decided to make that long-awaited estate plan that's going to take you to the next level? In this first video, we will be going over the basics of how to structure your estate plan properly.
There will be a number of details for us to go over but rest assured knowing that Toby Mathis, Esq. will guide you one step at a time to ensure you understand the subject matter.
Everyone has to start something somewhere, so what better place to start planning your estate than watching a video put out by a season professional.
Lastly, thank you so much for starting this amazing new installment with us! We hope that you enjoyed this first part of an interesting and informative journey that we will be continuing in a three-part series.
If you enjoyed the video, please consider helping our channel grow. By taking the time to like, share, and subscribe, you'll really be helping us out.
We also love to read your comments and note that we do take suggestions for topics to feature in future videos.
Watch Part 2 here 👉 • How To Select A Truste...
Until next time, good luck with managing your accounts and living your best life through hard work.
Show Notes:
0:00 Intro
1:42 Rockefeller Example
3:42 Control Over Ownership
9:08 #1 Protect Your Assets
12:22 #2 Consolidate Your Assets
19:50 #3 End of Planning
25:12 #4 Life Insurance
31:44 Outro
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
#estateplanning #livingtrust - แนวปฏิบัติและการใช้ชีวิต
Would you like to learn more about this topic and talk to someone? Schedule a free consultation here 👉 aba.link/b1e
Mr. Mathis can you do a video on IULs? I had one for a very short period of time and I let it go because there was so much negativity about them. Thank you
Thanks Toby! 👍
1. Intellectual property?
2. How can I bequeath my revenue-producing IP to charitable organizations?
I have been in the financial services industry for over 15 years and have been in the company of some greats like Ed Slott and many others. This is some of the best content I have been exposed to and done in a way that is easy for the consumer to understand. I am learning something every time I watch one of your videos. Having just sold my company and experienced a liquidity event, I am soaking up all this information like a sponge. Very nice work, sir!
I’m 28 with no kids yet, but I have been thinking about planning for my descendants and yearrrsss down the line how I want my family to be like when I’m no longer around…So glad I found your content! Subbed!
I was told my a attorney (that I did not hire) “it would be in ethical for an attorney to tell you how to protect your assets “. Glad I am here😀
I love you ❤ Toby for being so kind and caring and helping me through my struggles with understanding how much I need to help my family and children with their needs and how much they love each other’s families
You are a true gift from God. Thank you for this valuable content. I watch your videos a lot and I learn a lot from them.
thank you Toby.
Toby is simply brilliant. Thank you, Toby!
I am so happy that I found your very down to earth explanation of the living trust! Being a senior of 86 and a widow with three grown sons in pretty good health will be listening to what your saying! I do have a living trust since 2008 and has been upgraded three times and not finished yet I'm sure! I'll be watching you and thank you for your wonderful easy to understand information!
Thoroughly detailed information presented in a digestible manner with some humor. Great video!
I'm not rich 😕 but this information stil helping me thank you so much for teaching us love to watch your videos
I'm learning a lot from you Mr. Mathis, a long time ago I've started a living trust , now with your tutorial I want more protection in the future .Thank you
What an eye opening strategy to preserve lifelong hard working assets for your kids.
And everlasting.
"Hide your brokerage account". Mr. Mathis you spittin lol
Appreciate the help. Hard to find people that would help others to reach the peak. As for me I am a minority. My name itself is a flag that I am most definitely sure a minority, poor, a drunk… it is definitely a hard climb. People make so many assumptions. I persevere for my kids. I truly appreciate your presentations.
This is great content.💪🏼
Things we should be taught in school, really, to be set up for success right out of the gate.
That’s the exact reason they don’t teach it
This is awesome! and the timing couldn't be more perfect as I prepare to put these documents in place!
Utterly fantastic! Thanks for helping me understand where to start protecting my family.
Thanks Toby for your valuable information. ❤
Hello and thank you again for yet another most generous and informative video, Mr. Mathis.
QUESTIONS;
1. How is the trust managed?
2. What if the Trustee defrauds or makes a bad investment with the Trust’s funds? What provisions need be added to prevent this?
Thank you!!!
I would like you to make a video about how to go about creating an entity that would own vehicles and lease them out to protect against losing your high-end vehicles in the event of a lawsuit, etc.
i.e. - I have a transportation(bus) company with employees that will drive the equipment, carrying passengers commercially. With the high risk of many people in my company vehicles, I want more protection against losing all those assets(the vehicles) in the event of a catastrophe than what insurance alone can give me.
I also have the real estate entities going on, so an explanation of how to best separate these entities from those entities would be helpful also.
Good stuff, thx
Great info thanks
Awesome content!
Great program! Thanks for the insight and the basis for a plan. I really like your videos and am learning a lot.
good stuff!
this is precious. thank you.
Thank you for making this easy to understand! Great video! New subscriber now.
Awesome, thank you!
Excellent video and excellent information. I just wish more people would listen to you and set up their plan
Subscribed!
awesome content
TOBY U ARE AWESOME SIR
I like your video presentation. It is informative too, at the same time. Thanks a lot for your guidance!
Thank you for this info, can’t wait for part 2 👍
You're going to enjoy part 2 th-cam.com/video/YbFy7x2OUUc/w-d-xo.html =)
You’re information is priceless! So glad I found your channel! Thanks a bunch 😊
Thank you for watching our content!
Found your post interesting to watch. I can't wait to see your new videos soon. Good Luck with the upcoming update. This TH-cam channel is really very informative and effective.
Thank you so much!
Great channel. Your videos are very resourceful. Love how you explain and teach us. Thanks again for sharing your knowledge 💰
Thanks for watching!
Great stuff. You are doing something very special for people. Thank you Toby.
Our pleasure! Thank you for watching our content!
Liked and subscribed, thanks man. I am follower moving forward.
Thanks so much for subbing! We hope we are able to keep providing you quality content that helps you!
Thanks so much. My wife and I just had this discussion and your vid popped up. We will get busy.
Glad it was helpful!
Awesome video Mr M.🤗✨
Thank you kindly!
Great advice!!!
Glad you think so!
1. I Intellectual property?
2. How can I bequeath my revenue-producing IP to charitable organizations?
Great video!
Thanks for the visit!
Hi Mathis, thanks very much for sharing and making a great video.
Thanks for the support =)
Very easy to understand it. You have a good voice and outstanding lecture 👏 👌 🙌
Thank you for the kind words!
Thank you for the great video! I hope to be building an estate plan in the near future. I was wondering what you thought are about ways to ensure that bad actors, be they individuals or institutions, don't abuse their authority and fail to live up to a fiduciary standard towards your intended beneficiaries. Do you have any thoughts abouts this?
Thank you for this. I wish you were in Hawai’i I would hire you in a heartbeat.
We hold events and strategy sessions virtually, serving all 50 states of the US.
DE LLC has to register in CA so no anonymity? Any ideas about CA asset protection?
Absolutely fantastic content! Thank you for sharing this knowledge and expertise. Definitely shows you are an authority. Hope to have you setting all of this up for me (for the benefit of my family).in the next one to two years. Interested if there is a way to avoid or defer taxes when selling a business and roll the majority of those proceeds into a Living Trust in this Tylenol setup. Either way, thanks for the great content and always look forward to the next informational content you produce.
Thank you so much for your question! We highly recommend you join us at our next Free Tax & Asset Protection Workshop Livestream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/taptoby
What a great educational presentation. Do you recommend an Irrevocable or a revocable trust?
It really depends on your specific situation.
What's a good play for a single parent with an 18 year old in college first year and 8 year old. Non homeowner.
What if set a power of attorney for my estate??? Does what your saying protect them as well as my assets??
Toby, I have never had a whole lot of money. BUT, That may soon change .I'm sure I'll need an estate planner and I'll want to set up a living trust, how do I contact you when this happens? And is this something you can help me with.
I have been watching your videos I watched your three-part series on living trust. I'm continuously watching them now.
I want to get started NOW😅😅
Here is the link to schedule a free strategy session: aba.link/tobyss. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.
Can you explain the time frame it would take for an investor to help someone that is in a distressed situation like foreclosure? To set that person and there property up into a life estate?
How much does it cost?
Can you set these up for those not living in Nevada, where you are? Meaning, can I hire you as my attorney, I’m in Florida?
Vanders and rocks differ in that one saw the light🕊
What if you stake crypto? Is that passive still? & how is it taxes?
Thank you for all this information.
I have no children and want to take care of my siblings and their childern education, but in the right way.
How expensive is living truth, and how can I pursue that.
Great question, in order to assist you further, I highly recommend you attend our Free Tax & Asset Protection Workshop where our attorneys and specialists will answer all your questions live at the virtual event. aba.link/27f
What about if we are not wealthy?
Hey Joseph
Capital gain/loss question
Say someone has 2 stocks he’s held both for over a year.
The first one made him $1,000,000
The second one he is down 90% after investing $100,000
If he wants to use the losing stock to offset his gain does the selling of the winning stock and losing stock need to be in the same year? Of can he sell the losing one in the year prior to off set a future gain claiming the full 90% loss against his other stock ?
Again, he’s held both stocks for over a year.
What do you mean when you say we can borrow from our Charitable Remainder Trusts (so we can live off it, or invest it)? Does our estate have to pay it back when we die? Do they pay what we borrowed, plus interest? How much and how many years? The full interests? The number of years since we borrowed the money? That could be a huge sum. (Minute 29:41)
I am not sure where you see that in the video. You can borrow from life insurance. It gets paid back from the death benefit when you pass. Most are wash interest, meaning the investment still earns interest inside the policy. When you borrow, you pay interest. Those two amounts essentially wash meaning you are not really paying interest. Assume you have a death benefit of $2M and you borrow $500k. When you pass, $500k of the death benefit pays back the loan. $1.5M goes to beneficiaries. You never had to pay tax on the $500k.
I'm in my early 30s and just starting to build a nest egg, still under a million net worth. Should I be working on this legacy planning stuff now?
Yes. Legacy planning is essentially the same thing as Estate Planning - the process of deciding how exactly you'd like your assets bequeathed to your loved ones after you die - but you can also pass on less tangible items, such as imparting certain values to loved ones or establishing a focus on charitable giving. Regardless of your net worth, it is always a good idea to put together a Legacy/Estate plan.
What about a dapt?
Can you hold international assets in a domestic trust?
While is it possible to hold international assets in a domestic trust, it often depends on the laws and regulations of both the jurisdiction where the trust is established and the jurisdictions where the assets are located. Some countries have restrictions on foreign ownership of assets, while others have specific rules governing the administration of trusts holding international assets.
After both trustees pass, the beneficiary (son) gets the house. How is that house protected if he gets a divorce or in a liability suit?
❤
Curious why you advocate so much for LLC vs. Trusts. Are trusts not as safe legally (for rental properties)? Like having a separate trust for each property... Our scenario is family estate based in Texas with one beneficiary in Texas and one in Massachusetts.
Where to watch part 2 and 3? Can't find them.
Here is the link to part 2 th-cam.com/video/YbFy7x2OUUc/w-d-xo.html
@@TobyMathislove the content and joined you guys. In regards to this series, where is part 3? Can the links be edited into your descriptions. I’ve been searching for part 3 and it just doesn’t show up. Link? 🙏🏼
Do you offer free consultation’s for veterans sir? Thank you
Here is the link to schedule a free strategy session, aba.link/tobyss. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.
Maybe I’m missing something, but as I’m reading your question from a surface level. I just want to say thank you for your service, but the reality is NO ONE CARES, and rightfully so! Maybe you’ll share my perspective one day and realize there’s really nothing honorable about getting got and basically doing the dirty work on behalf of others. Enjoy the free registration, benefits of the va home loans, but don’t use that for house hacking purposes unless you have a life changing event that happens at a minimum 12 months after you close without fail! Hopefully you can say fudge property taxes! But please stop asking for things like this, as in laymen terms you’re saying I did some questionable spit for laughable pay, therefore I’m a better person than most, but can I also get a discount for Helen Kellering my way through life!
👍
Any referrals in southern California? Need a state 4:15 planning guide. Let me know.
I recommend speaking with one of our advisors for any legal advice as we service California. Here is the link to schedule a free strategy session, aba.link/tobyss. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.
How can I get intouch with you Toby
Is there a particular service you are interested in learning more about?
I do keep my best friend at home and she has graduated from car wreck brain trauma, to lewey bodies dementia to Alzheimer. I tried a nursing home but felt guilty when I witnessed how fast they were trying to kill her off. She lost 9 lbs. in 19 days and was only 92 lbs. when I put her in. They never helped her brush her teeth for the whole 19 days and so she forgot how and now it is a struggle to brush her teeth. Her neurologist put her on risperidone which turns out, the side effects for a women over 65 is heart attack, stroke and death. I took her off of it and take care of her at my home. She has a few good days a week and is around someone that cares about her. She only gets hostile at shower time or brushing teeth.
God bless you for doing that for your best friend. That’s a very hard job.
How do I take my name of my home
I would recommend to anyone. I just gone through my brother death and it complicated. I regret about lack of knowledge.
I wash for every one
if an entity is set-up to transfer assets to kids, the scary part is that they "fall in love" with someone who convinces them to add them to entity (very easily done) now they have control. Even if a nonprofit... friend did this and daughter added her fiance and his friend on Board and they voted HER out! Just like that ... family wiped out
Wow..not good ... solution? 😏
how to create an irrevocable
trust auto renewing over many generations???
Only 5day no more
Where are you located
Hello, we have five physical offices located in Nevada, Wyoming, and Washington and we operate virtually in all 50 states. andersonadvisors.com/locations/
How do I get you to help me do this
Hi! thank you for leaving your comment. You can request a free 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. Here's the link to set up a session ----> aba.link/tobyss
Great information but when she wants a divorce then what ?
Nobody goes to Europe anymore what’s the point
Thank you so much. My husband and I own our home.
We want to make sure our daughter Theresa is sole beneficiary to receive everything, totalling about 350k. I hope I can find a good a good lawyer. Are you for hire.
Our company has a lot to offer and we would like to recommend you register for a free strategy session with us so that we can go over all the ways we can help you achieve your goals andersonadvisors.com/ss/
trust/ foundation/ both? holding company inside trust to own all llcs/501c3s??? sos
Need help me Estate planning, iam in colorado, need help my name Saf
I don't like the idea that you won't let me share this video that sent to someone that needs it I tried to share it so they could listen to it and something funky came up on my phone that I had to do this and do that that I ain't never seen before just call me corn fused
We would love it if you shared our video with others as our goal is to help as many as possible! Are you still having issues sharing?
Anderson got 6 million from his mom when she passed.
Likely thru an Insurance Policy
No it what left from millions they did have.
The firm got 6 million?
Make 30 second videos
We do upload shorts, we hope you check them out!
IT WAS SO GOOD - I'M THINK I'M GUNA CRY 🥷🏾
👍