It sounds like a will is a money grab for lawyers and that a trust is the best way to handle an estate. I wish that I would have found out this sooner rather than later. Thanks for the great information.
I am amazed at how many viewers thingk you are rambling. I think you generously offer very detailed and valuable information…bless you! Please continue to ramble we all should be so lucky !!
Thank you Paul for sharing your info/video. How funny to think about your estate, bank accounts and automobiles how, who and what gets after death. Ppl busted their butt off trying to makes a living and raise a family and everything’s marked and settled for their heirs. Stills, the heirs have to go through the probate, lawyers and attorneys hmm?! What kind of rule/policy…..just another business as usually to makes more money from ppl I think.
This is great! Thank you for breaking it all down. Now if I can just get my old brain to stop freaking out over all the knowledge and just absorb it like a to-do list...I should be able to handle it.
Thanks for the great information, Paul! One additional consideration is the title for cars and boats. In my state (Ohio) the bureau of motor vehicles will allow a Transfer on Death (TOD) designation to be added to the title of a car / boat.
We had JUST did a living Trust by chance in Aug 2021. My husband passed Feb 2022. 😢… 3 accounts hadn’t made it in the Trust. So far… the 3 accounts had to go to probate. Cost so far from the begging of setting up the Trust.. $12,600.00.
Have you ever examined the living will form of "Five Wishes", developed and distributed by "Aging With Dignity "? I know it is a legal document in the state of Louisiana if signed in front of witnesses & notary then notarized by said notary. I first learned about this alternative document while attending a seminar in Louisiana where my father lived. Please give this 'living will' document an equality opportunity assessment in one of your future videos.
What happens if you have bank accounts and CDs listed in your living trust but also have beneficiaries listed on those individual bank accounts and CDs? Can a beneficiary go directly to the bank with a death certificate or must they now wait for the living trust to act?
Paul, this is none of my business, but red triangular patches on the cheeks can be a sign of lupus. They can also just be a sign of rosacea, which is very common and far more benign. In case you haven't had it checked out, I'd suggest a dermatologist -- they've seen everything and are in a good position to determine what's going on. Again, none of my business, just mentioning it in case it turns out to be helpful. Thank you for your fine videos.
Appreciate your show. Q. CA. Durable power of attorney. Only2? Medical & financial? House in trust no beneficiary owner trustee& dementia. 2daughters living in home. Are they equal co-owners? How do they sell house if needed? In CA.
Paul... if I have a ...Funded Revocable living trust... and my home is paid for.... only my home as an asset in trust ....can I borrow against my home to pay for in home help if ever needed... Thanks ❤️
My mother lost a great deal of money after my father's death, I suspect early signs of dementia. There's a family trust that she will not show the family, what do I do? Probate, POA or conservatorship?
What if the spouse passes away in the living space does it take care of the stuffy he's supposed to take care of and there's no will the first one that passed away has a living child but now the second one that passed away is that child's father now he's passed away and there's no will
What do you do when the Executor immediately after death transfers vehicle titles to themselves, ignores potential beneficiaries since he's unwilling to provide a copy of the will , and clears out the safety deposit box(which I also had a key and rights to) before going back to his state. I remember seeing a copy of the will a year earlier with my name on it and now he's saying no, he's the only one on there. I feel like this needs to go to probate but how can I do that with him avoiding it and myself being unable to get a copy of the will?
If I was able to transfer all of my assets at death using these methods, how would the estate pay off any remaining debts and expenses? (Taxes, funeral costs, loans, etc...) Where would that money come from?
It isn’t nothing but a money scam just like everything else. If things are clearly marked down and settled before your death then yes it’s a money scam. Courts, Lawyers and such. Suck what money you did have away. BIG BUSINESS
First, let me say how informative your videos are. Having handled both of parents estates, you're a great resource to get things going in the best direct. I've searched through your videos but haven't been able to find an answer to an important question I have as it relates to a real estate "situation" for my family. Hindsight is 20/20 but here we are with a taxation situation that looks unavoidable. But, as the oldest child and the executor of my mama's estate I'd like to make sure I guide my siblings in the best direction. It has to do with property that got retitled to one child (for asset protection from predators) prior to a parents death. Upon the parent's death, the property is treated "as if" it's still in the estate and divided equally monetarily between the 3 children with the same child still holding title. The other 2 siblings now received $126K each for a piece of property that wasn't owned by parent at time of death but still treated as if it was. Here's the question - are there any investment vehicles that qualify to avoid capital gains taxation other than rushing to find a physical piece of real estate to invest the money in? Is there anyway to treat this payment of $126K as inheritance that I haven't thought of? I'd be happy to schedule a phone call and pay you for your time
Can I title everything I own into a revokable living trust? I am trying to determine how to eliminate the probate inventory, expenses, and state death taxes after my death. State is Pennsylvania. I have set up POD, beneficiaries, and so on for fiduciaries. We have a few vehicles owned joint tenant in common.
My dad passed away in July unexpectedly, with no Will or Estate planning and it’s been so overwhelming 😩 thank you so much for this video and the information shared ❤️
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It sounds like a will is a money grab for lawyers and that a trust is the best way to handle an estate. I wish that I would have found out this sooner rather than later. Thanks for the great information.
I am amazed at how many viewers thingk you are rambling. I think you generously offer very detailed and valuable information…bless you! Please continue to ramble we all should be so lucky !!
Watching in Nova Scotia, Canada. Very informative. Enjoy your video's.
Thank you Paul for sharing your info/video.
How funny to think about your estate, bank accounts and automobiles how, who and what gets after death.
Ppl busted their butt off trying to makes a living and raise a family and everything’s marked and settled for their heirs. Stills, the heirs have to go through the probate, lawyers and attorneys hmm?! What kind of rule/policy…..just another business as usually to makes more money from ppl I think.
This is great! Thank you for breaking it all down. Now if I can just get my old brain to stop freaking out over all the knowledge and just absorb it like a to-do list...I should be able to handle it.
Thanks for the great information, Paul! One additional consideration is the title for cars and boats. In my state (Ohio) the bureau of motor vehicles will allow a Transfer on Death (TOD) designation to be added to the title of a car / boat.
Arkansas too allows a TOD beneficiary for autos. But, Arkansas also allows the auto to be owned by the revocable trust. Just did this in December.
@@jimfranks what about NC 2022
Glad to see you again hope everything is good with you and family.
We had JUST did a living Trust by chance in Aug 2021. My husband passed Feb 2022. 😢… 3 accounts hadn’t made it in the Trust. So far… the 3 accounts had to go to probate. Cost so far from the begging of setting up the Trust.. $12,600.00.
So sorry for your loss.
Have you ever examined the living will form of "Five Wishes", developed and distributed by "Aging With Dignity "? I know it is a legal document in the state of Louisiana if signed in front of witnesses & notary then notarized by said notary.
I first learned about this alternative document while attending a seminar in Louisiana where my father lived. Please give this 'living will' document an equality opportunity assessment in one of your future videos.
Can creditors touch the bank account if you name a beneficiary?
What are the pros and cons of listing an RLT as the beneficiary for retirement accounts, insurance policies, bank accounts, and investment accounts?
What happens if you have bank accounts and CDs listed in your living trust but also have beneficiaries listed on those individual bank accounts and CDs?
Can a beneficiary go directly to the bank with a death certificate or must they now wait for the living trust to act?
Really informative, really appreciate it. Thanks.
Paul, this is none of my business, but red triangular patches on the cheeks can be a sign of lupus. They can also just be a sign of rosacea, which is very common and far more benign. In case you haven't had it checked out, I'd suggest a dermatologist -- they've seen everything and are in a good position to determine what's going on. Again, none of my business, just mentioning it in case it turns out to be helpful. Thank you for your fine videos.
So helpful. Thank u for sharing
Appreciate your show. Q. CA. Durable power of attorney. Only2? Medical & financial? House in trust no beneficiary owner trustee& dementia. 2daughters living in home. Are they equal co-owners? How do they sell house if needed? In CA.
Paul... if I have a ...Funded Revocable living trust... and my home is paid for.... only my home as an asset in trust ....can I borrow against my home to pay for in home help if ever needed... Thanks ❤️
Thanks for a great speech!
My mother lost a great deal of money after my father's death, I suspect early signs of dementia. There's a family trust that she will not show the family, what do I do? Probate, POA or conservatorship?
What if the spouse passes away in the living space does it take care of the stuffy he's supposed to take care of and there's no will the first one that passed away has a living child but now the second one that passed away is that child's father now he's passed away and there's no will
What do you do when the Executor immediately after death transfers vehicle titles to themselves, ignores potential beneficiaries since he's unwilling to provide a copy of the will , and clears out the safety deposit box(which I also had a key and rights to) before going back to his state. I remember seeing a copy of the will a year earlier with my name on it and now he's saying no, he's the only one on there. I feel like this needs to go to probate but how can I do that with him avoiding it and myself being unable to get a copy of the will?
If I was able to transfer all of my assets at death using these methods, how would the estate pay off any remaining debts and expenses? (Taxes, funeral costs, loans, etc...) Where would that money come from?
Very helpful!
What about non revokeable trusts
Absolutely the Truth ❣️❣️
Thank you 😌
-or-...spend your assets - on yourself, your family, charities, your beloved dog! (Paul, now there's a video topic-taking care of beloved pets!)
Thx.
It isn’t nothing but a money scam just like everything else. If things are clearly marked down and settled before your death then yes it’s a money scam. Courts, Lawyers and such. Suck what money you did have away. BIG BUSINESS
I am doing a probate for my ex husband too much headache.
First, let me say how informative your videos are. Having handled both of parents estates, you're a great resource to get things going in the best direct. I've searched through your videos but haven't been able to find an answer to an important question I have as it relates to a real estate "situation" for my family. Hindsight is 20/20 but here we are with a taxation situation that looks unavoidable. But, as the oldest child and the executor of my mama's estate I'd like to make sure I guide my siblings in the best direction. It has to do with property that got retitled to one child (for asset protection from predators) prior to a parents death. Upon the parent's death, the property is treated "as if" it's still in the estate and divided equally monetarily between the 3 children with the same child still holding title. The other 2 siblings now received $126K each for a piece of property that wasn't owned by parent at time of death but still treated as if it was. Here's the question - are there any investment vehicles that qualify to avoid capital gains taxation other than rushing to find a physical piece of real estate to invest the money in? Is there anyway to treat this payment of $126K as inheritance that I haven't thought of? I'd be happy to schedule a phone call and pay you for your time
Perfect - well explained. Listen carefully and take action. Remember, either you make your plan or you get the “ governments plan”.
Can I title everything I own into a revokable living trust? I am trying to determine how to eliminate the probate inventory, expenses, and state death taxes after my death. State is Pennsylvania.
I have set up POD, beneficiaries, and so on for fiduciaries. We have a few vehicles owned joint tenant in common.
👍🏻👍🏻
Well I didn't die, Fiducary Fraud
Watching things not to do in living trust. Too much rambling
Not sure you have said what. Not to do Seem to be motte concerned with who’s watching
My dad passed away in July unexpectedly, with no Will or Estate planning and it’s been so overwhelming 😩 thank you so much for this video and the information shared ❤️