Definitely much easier to listen to other TH-cam content providers regarding these matters. I wish these type of said content providers would leave ALL of their what if or for instances examples out of their explanations. Process, process, process, what can't humans get this? He started off great but there it went back down the tangential rabbit hole. Get to the point. 1. Costs (Who MUST & MAY generate the living trust professionally or personally?) 2. Governing authority (What makes it a legal recognized document IAW state codes or laws?) 3. Approval process (Who splashes their holy water on it and says its legit?) 4. Sustainment once completed (How must it be maintained by the trustee?)
Thank you for such a cogent explanation. I’m spending a lot of money but I’m not the type to do those bundled programs . This stuff is intricate and complicated. My brother is an attorney and he insisted I do a living trust rather than a will. This guy explained it way better!
I’m a recent beneficiary of a trust and also need to establish a trust of my own. I’ve been researching and find this video very helpful. Answered a number of questions I had. Very informative 👍
Before today i was unaware of a living trust, I saw an earlier video of yours on it and came to this one, you have really opened my eyes. I see so clearly now of what needs to be done. Thank you for the information, i really appreciate it!
Hello Toby. I’m a first time viewer. I just ran across your Living Trust 101 video by chance. Wasn’t even looking for it but I so need this information. Thank you so much for your sincerity and honesty. I can tell you care about your clients. My family is in a really bad situation. My ex-husband whom I am separated from, has fallen under bad health and now on dialysis. He fails to get a living trust done although, we have all agreed as a family, himself as well, to put one in place to protect the home and family should the unthinkable happen. Because of his continued decline and lack of personal care, my sons and I are concerned he won’t make it before he gets his affairs in order. Therefore, I am the chosen one to get it done. He will sign whatever documents needed to get a living trust in place. He’s just not going to go out and do the research and the foot work. I have to do the foot work and get it all in place. He’s paying a pre-paid legal service to do this but he hasn’t taken any action even though we have pleaded with him and he’s promised to do it. 😟🙄 What do I need to do to get the ball rolling? I really feel a sense of urgency in my situation. I need to have a living trust in place within the next couple of months. Is this a case where I just need the appropriate forms and documents to fill out or do I need a certified legal service to complete this task? I believe I would really appreciate working with you. Eagerly looking forward to your feedback.
Hi Toby, excellent video! I’m a Realtor and one of the specialties I’m developing is Probate Real Estate. I’m making myself available to anyone who’s going through one of the most difficult times in their life. But the one advice I give people is to set up a living trust so their heirs can avoid Probate because of time and money. I give them an example of a $1M estate in CA, the heirs will pay $46K in attorney and personal representative fees plus court filing fees. Time wise a probate process will take 9 mos to a year before the heirs actually see the money they’re getting. Even with that the #1 reason I think folks don’t set up a living trust (besides not understanding what it does) is the upfront cost to set up the living trust, at least $4K. Even though $4K is less than $46K, no one has $4K laying around. How do you overcome this objection and are there estate attorneys out there working out some kind of deal to help clients? Thanks so much!
Offer to pay the $4K for them in exchange for a clause that stipulates their repayment at a modest interest rate, say prime plus 1%, in addition to 2% of the value of the remaining estate once the debts are fully paid. It's way to help them and to build an additional line of business for your own estate.
Wow! Blown away! Thank you so much. I didn’t know about H.E.M.S. I feel so much wiser after this videos. Will be sharing this with my family. Thank you again for this comprehensive guide.
My parents have very insufficient wills. Recently, I have been assigned POA for Finances for both my mother and father. My sister overseas healthcare. I will be one of three beneficiaries of their meager estate. After watching this, it’s clear they need a living trust. I’ve discussed this with my parents and they would like me to act on their behalf as POA to establish the trust, and they would like me to be the trustee. What thoughts might you have to help guide me toward best practices?
Hello, we would like to direct you to andersonadvisors.com/ss/ where you can sign up for a free 45-minute consultation. In this session, you will meet with a professional who will be able to answer your questions regarding this topic.
Great question, in order to assist you further, I highly recommend you request a free 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. Visit: aba.link/8dc586
@@TobyMathisour free consultation cost our family a million dollars in billable litigation hours because the $8000.00 estate planner ran from the dangerous estate plan trust missing a complete Latin law crime interdiction administration.
Thanks for this information…it is badly needed in a time like this where it you have an elderly parent then their property can be protected from state nursing and assisted living facilities liening up their property.
I thank you for the information on the trustee we live in Pennsylvania where would i get this paperwork for a living trust i only have a house that i want to leave to my brother and if he passes 1st i would leave to my other brother and how much does it cost to make a living trust
Can you please explain how those would result in "Paying No Taxes"?? My understanding is that taxes apply to both LLCs and Trusts. But my understanding is limited. Thanks!
Can a living trust be set up in dual States to cover kids if death occurs? We presently live in California and will retire to Nevada owing rental houses in Henderson.
Generally a Living Trust will be established in the state in which you are domiciled. You could create it based on the rules and laws of NV if you would prefer but generally it would not be split between the states.
If I have single member LLC's, would I want to make my living trust the single member now? How could ownership of those LLC's (including LLC assests) be covered under the living trust?
Yes. A living trust owns its assets through its trustee. So if you are trustee, you would own the membership interest "John Smith, Trustee, of the Smith Family Trust" and that is the same as the living trust owning.
You can use a NICER Interdiction Living Trust with a Permission Ledger DPOA and Schedule A Counterfeit Free LLC if you own a business for total family security.
Toby thank you very much for this wonderful information You said that you would make more videos for us would you make a video on what I have to have in order to have full say on what can be done to my wife only with my consent if she ends up in the hospital and how I can set up a medical directive for end of life decisions
It can be done in as little as a day - just involves the transfer of assets. So the answer depends on the type of assets and how many (or how much). Living Trusts are simple to funds - but funding is required to avoid probate.
Hi Tina, Thanks for watching! 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. You can go to this link to set it up! -----------> aba.link/tobyss
wife deceased, one sibling. I have given power of attorney to the sibling. Will the power of attorney have a negative affect on a living trust and need to be changed?
My property is already in a trust that my dad established: can I still put my home into MY living trust since I am the direct inheritor to the property?
Living trust will have: 1. Financial power of attorney. 2. Medical power of attorney, 3. End-of-life decisions 4. " Pour-over" will, 5. Schedule of gifts 6. Distributions of instructions Grantor-trustee can make changes to a his living trust while grantor is living. Bit it becomes irrevocable when gra tor pass away.
thank you for this, you just sold me, i have learned so much from this video! i will be moving to southern California soon. is your company located in southern California or do you know any referrals in the area?
Glad it was helpful! Thank you for your question. We work with a network of attorneys across the US to ensure that our documents are legally enforceable and actionable in all 50 states.
I’m in California. I wanted establish a living trust as soon as I get my inheritance. How does one pick a firm to do this? Obviously cost is one aspect but what else should I look for?
Anderson can help you establish a living trust, we offer free strategy sessions to help you understand what we can do for your long term goals. 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.
Hello Toby, I just watched the video and it is quit an eye opener great detailed info thank you for sharing such valuable information I know I need to act now for protection.
Anderson Business Advisors would be more than happy to help you establish a living trust. 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.
Why put bank accounts in the trust if they have designated beneficiary? Wouldn't the money go straight to them if one is listed without going to probate?
Great question. There are several reasons, but the most important is lack of control of the funds once you pass (i.e. the beneficiary gets the money regardless of whether they have creditors, health issues, addictions, going through a divorce, etc.). That said, it does avoid probate. Better than nothing.
Waited too long to do an exchange in connection with the sale of my rental property. Looked for advice but only found you after midnight, tonight!. Anyway, the rental's title IS held by my living trust. I just feel like maybe it should have a different tax ID #. I am the sole trustee & using my ss#. Should I quick, fast & in a hurry get a sep. Tax ID no. for the trust? I'm concerned about capital gains taxes taking a big chunk of cash assets. My intent, in part, was to supplement my SS income, as I'm retired, and now disabled almost a year. Can't keep up with the rental responsibilities, so decided to sell the rental & draw shortage on mo. C.O.L from trust, Bulk of it to remain in some type of accessible acct. I can get tax ID no. Online. Also, should I go ahead & change Trustee/Mgr. now. Trust does designate who successor is, if I'm incapacitated or die.
Avalanche of info . Note taking necessary. I’m just thinking: more money, more problems. And how much money does it cost me to set all this up? It feels like at every further step of success in business , there is someone else waiting with their hand out.
In listening to several of yours and other videos, there has never been any mention of Transfer on Death. How does that play into it? Doesn't that avoid probate?
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
My home is in a trust established by my now deceased dad: can I still put my home in my own living trust since I am a direct inheritor to the property?
If I buy a $1 million dollar insurance policy, I can have the policy paid to the trust upon my death right? I'm wondering if the money once paid to the trust, could then be invested in the S&P 500 and then small monthly payments from those invested funds could be distributed to my surviving family members?
Hello Mr Mathis, I need to do a living trust. I do however would love to know approx cost which I know it depends on the extent of the trust. Just an approx please. Thank you K. DeCandia
Hey Kathy! Thank you for your question. Go to this link and one of our trusted advisors will be happy to help! --------> andersonadvisors.com/living-trusts/
Hey Toby, just a thought, how do you expect a legacy to carry on and on. Shouldn't one of the terms of the Trust (legacy) be that whatever money is used should be returned back to the Trust with interest. Your comments please
The partners here at Anderson Business Advisors have all written books that are helpful on this topic. If you are looking to get into asset protection, you may wish to read Asset Protection for Real Estate Professionals, by Clint Coons. You are also welcome to reach out to us here at Anderson Business Advisors for a consultation and we would be happy to assist you.
Setting up a perpetual land trust for your family involves a few key steps to ensure it aligns with your goals and needs. To discuss the specifics and tailor the strategy to your situation, I recommend scheduling a free strategy session with my team. Visit: aba.link/8dc586
If I am setting up a real estate brokerage should I set it up in the state that I am doing business in or should I set it up in Wyoming. what is the best way to do this and keep it as anonymous as possible. I plan o setting up a Living Trust, LLCs, and Corporations down the road but I need to get an LLC up so I can have a business. Thank you!
Typically you will want to set the active business up in the state in which you are doing business. With an active business, such as a real estate broker, generally your biggest concern is not anonymity as you are dealing with the public and portraying yourself as the owner. We would encourage you to reach out to Anderson Advisors and set up a meeting with one of our senior advisors to discuss strategies and structures that might work for you.
@@TobyMathis I will do that, I have a lot of expenses setting up my brokerage and need to get my brokerage setup but didn't want to go about it the wrong way and do something irreversible before I set up Everything with you guys.
we do not give pricing over the internet as there are too many variables, but $2500 - $7500 is the range for a comprehensive estate planning document such as a living trust.
I used a quit claim to add my daughter’s name to house property. But I am still paying mortgage payments . If I died unexpectedly how does that work? Could she sell the property to pay off mortgage and keep proceeds? Or have to get the balance financed in her own name? Or either or?
my 89 dad does have a living trust has property which already goes to each of his kid me being one .. he wants to give turn over my property, so I can do what I want with this property... how can this be done? purchased for70k in the 70' s small balance 38k Value 850k
My friend recently inherited 70k. Is that enough for him to put into a living trust for himself? Is there a minimum amount to create a living trust in CA? Thanks.
There is never a minimum amount for a trust. Anyone can benefit from the living trust as it contains provisions for incapacity, healthcare, end of life decisions, memorial instructions, burial/cremation, gifting as well as the trust itself which laws out how to distribute or hold assets.
Hi Rose, we recommend speaking with one of our advisors for any legal advice. Here is the link to schedule a free strategy session, bit.ly/3JbMhRP. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.
No my farm is go to son. But I wanted to give him it now so he does not go thru the crap I going thru now. So I don't have to were about it because it would be already done.
Toby, I am an American living in Europe. I do not own any real estate in the USA, but I have my investment accounts there. I also own property in different countries. How can I trust help me create a plan for the future? I have one child who is currently a minor.
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
How is it that some Lawyers say you don’t need a living trust especially if you have a very modest home…my lawyer told me to do a Will instead of a living trust. He said a living trust is for people who have over a million dollars worth of properties therefore a living trust doesn’t make sense for me to get he said it’s lawyers way of making money off people for something that’s not necessary, I’m confused why is this happening? lawyers can’t even agree on this matter! I don’t know what to believe anymore.
We would like to direct you to andersonadvisors.com/ss/ where you can sign up for a free 45-minute consultation. In this session, you will meet with a professional who will be able to answer your questions regarding this topic.
Have questions about this video? Sign up for a free consultation to get your questions answered by professionals. aba.link/8dc586
Hello there Toby. When’s your next ALL DAY FREE LIVESTREAM on RE & ASSET Protection?
Ł 0:42 So if I have property and I need help and I need to return it what would I do to hire your company to help me
Is it as easy to forge as they say? Is it True National Institute of Certified Estate Planners caveated it fails.
The estate plan is broken ask Alexa Katz and Ali Shanty and you’ll get the same answer.
The Estate Plan Trust is dangerous, if it was a car dealers would go to jail for selling it.
This Dude is very honest and full of knowledge....An HONEST attorney one could TRUST.... Thank you Toby!
Lol
Great plug 👎
Definitely much easier to listen to other TH-cam content providers regarding these matters. I wish these type of said content providers would leave ALL of their what if or for instances examples out of their explanations. Process, process, process, what can't humans get this? He started off great but there it went back down the tangential rabbit hole. Get to the point.
1. Costs (Who MUST & MAY generate the living trust professionally or personally?)
2. Governing authority (What makes it a legal recognized document IAW state codes or laws?)
3. Approval process (Who splashes their holy water on it and says its legit?)
4. Sustainment once completed (How must it be maintained by the trustee?)
Thank you for such a cogent explanation. I’m spending a lot of money but I’m not the type to do those bundled programs . This stuff is intricate and complicated. My brother is an attorney and he insisted I do a living trust rather than a will. This guy explained it way better!
I’m a recent beneficiary of a trust and also need to establish a trust of my own. I’ve been researching and find this video very helpful. Answered a number of questions I had. Very informative 👍
Glad it was helpful!
You'll want a Latin Law Crime Interdiction Administration Trusted Advisor our $8000.00 Estate Planner promised peace of mind and ran from the plan.
Wish I had this video 15 years ago! Great info. Love the level of detail and examples. Thank you for posting!
You are definitely my go-to for information on a Living Trust. My daughter encouraged me to do this. I'm married, but she handles all my affairs.
You got this =)
Thank you for staying on point, being concise and easy to understand!
Before today i was unaware of a living trust, I saw an earlier video of yours on it and came to this one, you have really opened my eyes. I see so clearly now of what needs to be done.
Thank you for the information, i really appreciate it!
Hello Toby. I’m a first time viewer. I just ran across your Living Trust 101 video by chance. Wasn’t even looking for it but I so need this information. Thank you so much for your sincerity and honesty. I can tell you care about your clients. My family is in a really bad situation. My ex-husband whom I am separated from, has fallen under bad health and now on dialysis. He fails to get a living trust done although, we have all agreed as a family, himself as well, to put one in place to protect the home and family should the unthinkable happen. Because of his continued decline and lack of personal care, my sons and I are concerned he won’t make it before he gets his affairs in order. Therefore, I am the chosen one to get it done. He will sign whatever documents needed to get a living trust in place. He’s just not going to go out and do the research and the foot work. I have to do the foot work and get it all in place. He’s paying a pre-paid legal service to do this but he hasn’t taken any action even though we have pleaded with him and he’s promised to do it. 😟🙄 What do I need to do to get the ball rolling? I really feel a sense of urgency in my situation. I need to have a living trust in place within the next couple of months. Is this a case where I just need the appropriate forms and documents to fill out or do I need a certified legal service to complete this task? I believe I would really appreciate working with you. Eagerly looking forward to your feedback.
All the information I needed to make the decision to do a living trust. Thank you for sharing.
That was very helpful information that I was looking for everyone say I need a living trust but never explain what it was but you just did. Thank you
Toby and his Team Rules!!!!! Thanks Toby for all the honest straight forward information.
Thank YOU for refreshing my memory of my LT. 👍👵🐢👋
Hi Toby, excellent video! I’m a Realtor and one of the specialties I’m developing is Probate Real Estate. I’m making myself available to anyone who’s going through one of the most difficult times in their life. But the one advice I give people is to set up a living trust so their heirs can avoid Probate because of time and money. I give them an example of a $1M estate in CA, the heirs will pay $46K in attorney and personal representative fees plus court filing fees. Time wise a probate process will take 9 mos to a year before the heirs actually see the money they’re getting. Even with that the #1 reason I think folks don’t set up a living trust (besides not understanding what it does) is the upfront cost to set up the living trust, at least $4K. Even though $4K is less than $46K, no one has $4K laying around. How do you overcome this objection and are there estate attorneys out there working out some kind of deal to help clients? Thanks so much!
Offer to pay the $4K for them in exchange for a clause that stipulates their repayment at a modest interest rate, say prime plus 1%, in addition to 2% of the value of the remaining estate once the debts are fully paid. It's way to help them and to build an additional line of business for your own estate.
@@Fr1nc3sc41 great idea! One could literally get hundreds of homes/clients lined up this way.
Where did you get the $4K figures to set up a living trust?
Wow! Blown away! Thank you so much. I didn’t know about H.E.M.S. I feel so much wiser after this videos. Will be sharing this with my family. Thank you again for this comprehensive guide.
My parents have very insufficient wills. Recently, I have been assigned POA for Finances for both my mother and father. My sister overseas healthcare. I will be one of three beneficiaries of their meager estate. After watching this, it’s clear they need a living trust. I’ve discussed this with my parents and they would like me to act on their behalf as POA to establish the trust, and they would like me to be the trustee. What thoughts might you have to help guide me toward best practices?
Hello, we would like to direct you to andersonadvisors.com/ss/
where you can sign up for a free 45-minute consultation. In this session, you will meet with a professional who will be able to answer your questions regarding this topic.
Does Living Trust protect from Elder Law or Nursing Home Care.
Thank you for the video. I have a question. I had an attorney draw up a trust for me. But it does not say living trust. Is there a difference?
If im going to be on a living trust on my fathers home do i need to provide my own w2 form's or pay stubs?
Great question, in order to assist you further, I highly recommend you request a free 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. Visit: aba.link/8dc586
@@TobyMathisour free consultation cost our family a million dollars in billable litigation hours because the $8000.00 estate planner ran from the dangerous estate plan trust missing a complete Latin law crime interdiction administration.
Very interesting and educational - thanks for sharing
Thankyou for taking the time to lay all this out for me brother.
Thank YOU for taking the time to watch our content!
Thank you Toby…Awesome Information. Your explanation of what needs to happen is easily understood.
Glad you think so! Thanks for watching!
Thanks for this information…it is badly needed in a time like this where it you have an elderly parent then their property can be protected from state nursing and assisted living facilities liening up their property.
Glad you enjoyed the video, and best of luck in your situation.
Thank you for educating us and your time
It is always a pleasure to educate others!
Greatest living trust video ever. Wishing I could get access to your service? Thanks.
Just say the word and we will send you a link to register for a free strategy session to go over plans and prices.
@@TobyMathis can you send me the link please.
@@crysledezama3085 andersonadvisors.com/ss/
I thank you for the information on the trustee we live in Pennsylvania where would i get this paperwork for a living trust i only have a house that i want to leave to my brother and if he passes 1st i would leave to my other brother and how much does it cost to make a living trust
Great details on Living Trusts!
Every home and every American needs a Trust and a LLC at a minimum. Wake up everyone and make it a priority. Pay No Taxes!
Can you please explain how those would result in "Paying No Taxes"?? My understanding is that taxes apply to both LLCs and Trusts. But my understanding is limited. Thanks!
@@Run4Ever77 A trust doesnt avoid taxes but everyone needs the other aspects. I would think an llc has tax benefits.
Can a living trust be set up in dual States to cover kids if death occurs? We presently live in California and will retire to Nevada owing rental houses in Henderson.
Generally a Living Trust will be established in the state in which you are domiciled. You could create it based on the rules and laws of NV if you would prefer but generally it would not be split between the states.
EXCELLENT VIDEO TOBY!!!
Really Objective and Professional.
Thank You So Much.-:)))
We are glad you enjoyed it!
THANKS for all you do, very much appreciated, your gift to us is multitude of blessings for you.
The mention of Life Insurance intrigues me. Do you have a video on how you can make the Trust a beneficiary for the insurance. Please give the link
You just name the trust as bene on the life ins company form.
@JoeDago says I just have to name the Trust as the beneficiary, Toby can I have your comments please. JoeDago , thank you so much for your reply.
Do I require an Estate Lawyer to do the Living Trust or can any lawyer do it?
You can do it yourself, so anyone.
Yup, you can do it yourself. Just a little learning.
just don't use these guys.
@@juliebee61 why not them?
@@jasonluckett9187 taking way too long, not very responsive, they got big and don't seem to care about the average person.
Thanks for all the great info! How do I protect my half share from a joint trust?
Great video ! Thank you so much 🙏
Glad it was helpful!
Wonderful section! Thank you! I’m wondering what cost is involved. And do you handle trusts?
Thank you for watching the content and we do handle trust! andersonadvisors.com/products-and-services/
If I have single member LLC's, would I want to make my living trust the single member now? How could ownership of those LLC's (including LLC assests) be covered under the living trust?
Yes. A living trust owns its assets through its trustee. So if you are trustee, you would own the membership interest "John Smith, Trustee, of the Smith Family Trust" and that is the same as the living trust owning.
How many people can be the trustee can list more than one in case one dies you have several listed to takes ones place in the event. They die.
Toby, thank you. This was very informative.
I think I didnt heard the how to, so can you please tell me how where i go to do it????
online diy or an estate attorney.
Do you have to set up an llc for the trust?
No - you do not.
You can use a NICER Interdiction Living Trust with a Permission Ledger DPOA and Schedule A Counterfeit Free LLC if you own a business for total family security.
Toby thank you very much for this wonderful information
You said that you would make more videos for us
would you make a video on what I have to have in order to have full say on what can be done to my wife only with my consent if she ends up in the hospital
and how I can set up a medical directive for end of life decisions
Thank you so much for your time to post this value video.
That is kind of you to say, thank you!
What is the time frame for an investor to put someone's estate into a living trust?
It can be done in as little as a day - just involves the transfer of assets. So the answer depends on the type of assets and how many (or how much). Living Trusts are simple to funds - but funding is required to avoid probate.
Thank you! What is the time frame for an investor to put someone that's dealing with a foreclosure into a life estate?@@TobyMathis
Easy to understand and your message has been received.
I love your video, I would like to learn more how to set up a living trust with you. Awesome info 👌
Hi Tina, Thanks for watching! 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. You can go to this link to set it up! -----------> aba.link/tobyss
SpoT On! ~ Great Overview Toby!
Excellent information
wife deceased, one sibling. I have given power of attorney to the sibling. Will the power of attorney have a negative affect on a living trust and need to be changed?
My property is already in a trust that my dad established: can I still put my home into MY living trust since I am the direct inheritor to the property?
Would you like to ask your question on our podcast Tax Tuesday andersonadvisors.com/tax-tuesdays-questions/
Living trust will have:
1. Financial power of attorney.
2. Medical power of attorney,
3. End-of-life decisions
4. " Pour-over" will,
5. Schedule of gifts
6. Distributions of instructions
Grantor-trustee can make changes to a his living trust while grantor is living. Bit it becomes irrevocable when gra tor pass away.
thank you for this, you just sold me, i have learned so much from this video! i will be moving to southern California soon. is your company located in southern California or do you know any referrals in the area?
Glad it was helpful! Thank you for your question. We work with a network of attorneys across the US to ensure that our documents are legally enforceable and actionable in all 50 states.
Great information, I just have one question. What do you mean "fund it"?
What is the difference between revocable and irrevocable living trust?
Living Trusts are always revocable until one of the grantor passes.
@@TobyMathis i need help
@@crjohnfelton9649 How may we assist you?
I’m in California. I wanted establish a living trust as soon as I get my inheritance. How does one pick a firm to do this? Obviously cost is one aspect but what else should I look for?
Anderson can help you establish a living trust, we offer free strategy sessions to help you understand what we can do for your long term goals. 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 a wind turbine contract and easement with annual payments be put into a living trust, and how do you fund that?
Hello Toby, I just watched the video and it is quit an eye opener great detailed info thank you for sharing such valuable information I know I need to act now for protection.
Can you recommend someone in Houston Texas to prepare a Living Trust
Anderson Business Advisors would be more than happy to help you establish a living trust. 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.
Why put bank accounts in the trust if they have designated beneficiary? Wouldn't the money go straight to them if one is listed without going to probate?
Great question. There are several reasons, but the most important is lack of control of the funds once you pass (i.e. the beneficiary gets the money regardless of whether they have creditors, health issues, addictions, going through a divorce, etc.). That said, it does avoid probate. Better than nothing.
I am interested in more information on this Living trust .
Then be sure to check out our other videos on the subject.
Waited too long to do an exchange in connection with the sale of my rental property. Looked for advice but only found you after midnight, tonight!.
Anyway, the rental's title IS held by my living trust. I just feel like maybe it should have a different tax ID #. I am the sole trustee & using my ss#. Should I quick, fast & in a hurry get a sep. Tax ID no. for the trust? I'm concerned about capital gains taxes taking a big chunk of cash assets.
My intent, in part, was to supplement my SS income, as I'm retired, and now disabled almost a year. Can't keep up with the rental responsibilities, so decided to sell the rental & draw shortage on mo. C.O.L from trust, Bulk of it to remain in some type of accessible acct.
I can get tax ID no. Online.
Also, should I go ahead & change Trustee/Mgr. now. Trust does designate who successor is, if I'm incapacitated or die.
Yes you can online
Great info, thanks!
Interesting video 👍🏽
Question… if I have shares
Can that be put into the trust…??
anyting
my dad passed away and had a living trust now my mom is trustee is there anything as a benificiary i need to do, or just trust the process
Great information!!!!
Thanks for sharing
Thanks for watching!
@@TobyMathis
Where are you guys located ?
Do you service TX residents?
The average person can’t afford 2500-7500 for a living trust . Now wonder so many get stuck paying out so much .
At 17:02 of the video, you said, "I have to make sure that I fund it...." What exactly does it mean to fund the Trust?
Avalanche of info . Note taking necessary. I’m just thinking: more money, more problems. And how much money does it cost me to set all this up? It feels like at every further step of success in business , there is someone else waiting with their hand out.
Fantastic overview. Does a living trust also protect from Medicare discovery?
I do not believe so.
@@TobyMathis thank you. Is there any trust irrevocable that does protect from Medicare Discovery?
In listening to several of yours and other videos, there has never been any mention of Transfer on Death. How does that play into it? Doesn't that avoid probate?
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
My home is in a trust established by my now deceased dad: can I still put my home in my own living trust since I am a direct inheritor to the property?
Can the trustee of a living will just take the money and ignore the will?
If I buy a $1 million dollar insurance policy, I can have the policy paid to the trust upon my death right? I'm wondering if the money once paid to the trust, could then be invested in the S&P 500 and then small monthly payments from those invested funds could be distributed to my surviving family members?
Hello Mr Mathis, I need to do a living trust. I do however would love to know approx cost which I know it depends on the extent of the trust. Just an approx please.
Thank you
K. DeCandia
Hey Kathy! Thank you for your question. Go to this link and one of our trusted advisors will be happy to help! --------> andersonadvisors.com/living-trusts/
In CA it always is better to have a trust. Other states it is less of a need
In California it’s better to have a NICER Forgery Proof Living Trust with the Latin Law Crime Interdiction Administration.
Hey Toby, just a thought, how do you expect a legacy to carry on and on. Shouldn't one of the terms of the Trust (legacy) be that whatever money is used should be returned back to the Trust with interest. Your comments please
Do you have a book that I can use to set up all of this and forms and how to use them ready to buy please let me know
The partners here at Anderson Business Advisors have all written books that are helpful on this topic. If you are looking to get into asset protection, you may wish to read Asset Protection for Real Estate Professionals, by Clint Coons. You are also welcome to reach out to us here at Anderson Business Advisors for a consultation and we would be happy to assist you.
how do i set up a perpetual land trust for my family?
Setting up a perpetual land trust for your family involves a few key steps to ensure it aligns with your goals and needs. To discuss the specifics and tailor the strategy to your situation, I recommend scheduling a free strategy session with my team. Visit: aba.link/8dc586
If I am setting up a real estate brokerage should I set it up in the state that I am doing business in or should I set it up in Wyoming. what is the best way to do this and keep it as anonymous as possible. I plan o setting up a Living Trust, LLCs, and Corporations down the road but I need to get an LLC up so I can have a business. Thank you!
Typically you will want to set the active business up in the state in which you are doing business. With an active business, such as a real estate broker, generally your biggest concern is not anonymity as you are dealing with the public and portraying yourself as the owner. We would encourage you to reach out to Anderson Advisors and set up a meeting with one of our senior advisors to discuss strategies and structures that might work for you.
@@TobyMathis I will do that, I have a lot of expenses setting up my brokerage and need to get my brokerage setup but didn't want to go about it the wrong way and do something irreversible before I set up Everything with you guys.
How do you expect a client to transfer personal information to create a living trust?
Thank you sir
Thank you for your kind words! I really appreciate your support.
What's the cost to establish a living trust?
we do not give pricing over the internet as there are too many variables, but $2500 - $7500 is the range for a comprehensive estate planning document such as a living trust.
Death Doulas can assist people with their pre-care planning, most Dr.s don't know anything about the paperwork.
I used a quit claim to add my daughter’s name to house property. But I am still paying mortgage payments . If I died unexpectedly how does that work? Could she sell the property to pay off mortgage and keep proceeds? Or have to get the balance financed in her own name? Or either or?
Consider asking your question on Tax Tuesday for a quicker answer andersonadvisors.com/tax-tuesdays-questions/
thank u thank u very good xplain
Glad it was helpful!
my 89 dad does have a living trust has property which already goes to each of his kid me being one .. he wants to give turn over my property, so I can do what I want with this property... how can this be done? purchased for70k in the 70' s small balance 38k Value 850k
I like you!! Thank you for being yourself.
My friend recently inherited 70k. Is that enough for him to put into a living trust for himself? Is there a minimum amount to create a living trust in CA? Thanks.
There is never a minimum amount for a trust. Anyone can benefit from the living trust as it contains provisions for incapacity, healthcare, end of life decisions, memorial instructions, burial/cremation, gifting as well as the trust itself which laws out how to distribute or hold assets.
The trustee and beneficiary ,can it be the same person?
Hi Toby are you part of any legal employer plan network e.g metlife?
Like your info!!
Hello im interested to set up living trust.
How much is the cost if i have do my living trust pls.
Hi Rose, we recommend speaking with one of our advisors for any legal advice. Here is the link to schedule a free strategy session, bit.ly/3JbMhRP. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.
Is Living Trust different from RVLT
Can I have a living trust for my house which is my only asset?
Thank you
awesome. thank you very much.
Glad you liked it! Thank you for watching our content.
gday mate does this stuff work in australia, cheers
No my farm is go to son. But I wanted to give him it now so he does not go thru the crap I going thru now. So I don't have to were about it because it would be already done.
Toby, I am an American living in Europe. I do not own any real estate in the USA, but I have my investment accounts there. I also own property in different countries. How can I trust help me create a plan for the future? I have one child who is currently a minor.
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
How is it that some Lawyers say you don’t need a living trust especially if you have a very modest home…my lawyer told me to do a Will instead of a living trust. He said a living trust is for people who have over a million dollars worth of properties therefore a living trust doesn’t make sense for me to get he said it’s lawyers way of making money off people for something that’s not necessary, I’m confused why is this happening? lawyers can’t even agree on this matter! I don’t know what to believe anymore.
What is/are differences between a Living Trust and Wills?
Does it means if there is a living trust in place, you do away with Will? Yes/No
We would like to direct you to andersonadvisors.com/ss/
where you can sign up for a free 45-minute consultation. In this session, you will meet with a professional who will be able to answer your questions regarding this topic.
yup