This old man says love it only adding make sure it’s the 33 year Traditional Law Reform Interdiction Trust with 100 times the value NICER crime Interdiction Administration Permission Ledgers. To avoid the quit claim jumping equity elder abusing inheritance and legacy wealth transfer thieves.
Was on a webinar with a Pennsylvania law firm recently, where the topic was Trust VS Will, and overall cost was discussed. In PA, the cost of probate ranges between 3% and 7% of the estate's gross value. If using a 5% average, an estate with a $300,000 home (even if there's still a mortgage), $100,000 life insurance policy (if not in an irrevocable life insurance trust), and $100,000 in retirement funds, you have a $500,000 estate which will cost $25,000 to probate it. That inexpensive Will ultimately costs $25,000 in this specific example. The properly drafted and funded $1500-$2000 Trust avoids all this and leaves more money to the family. Would like to see this brought to light more often and save people a chunk of money.
In California the cost is 100% without NICER Crime Interdiction Administration Permission Ledger triple registered inheritances and legacy wealth transfers. To interdict the inheritances hijackers crawling out of the woodwork. With NICER Policy Protection provisions to arbite monitor and validate pink slips to grantors deeds. At a NICER Peacekeeping settled administration nickel and dime solution to crime and litigation quarter.
One important thing many people forget is to name beneficiaries (spousal or otherwise) on your IRA accounts. The will will not sort this out, and can cause headaches and delays for the people you want to leave money to.
i love Karlton's videos. So knowledgeable, and he explains things in an easy to digest way. which is why I hired Karla Dennis for tax advisory and preparation.. but after a year, I had to fire them- several thousand dollars in fees, and I couldn't get a response to an email or an advisory session scheduled, no matter how many 'associates' I'd Cc on my requests.
i will also add as someone who works for a major bank, make sure trustee can be trusted. For the bank i work for we will make you take the house deed out the trust and put in in your name before we help you. That person then should put the property back into a trust and a lot of the time they dont. The other people on the trust get upset with the person not putting it back into a trust and it becomes a large legal battle.
Another great video ... what about a trust when there is a second marriage, and there are children from each spouse's first marriage. If one spouse dies before the other, how can you ensure the children of the spouse who dies are taken care of ... ie, assets are not just distributed to the surviving spouse's children.
I have a few questions: 1. What is the purpose of holding companies within trusts? 2. Is it possible to create nested trusts? 3. Are trusts legally universal legal/fiduciary instruments or are they bound by the laws of a country?
I can help people pass 80 percent of a families wealth onto their loved ones bypassing the inheritance tax etc. It requires having A Will and all et al your assets things is separate trusts. That's the key.
A couple of points... 1. I understand that there are some circumstances where an Irrevocable Trust can be changed/amended. 2. When the grantor of a Revocable Trust dies, then the trust effectively becomes an Irrevocable Trust. Am I mistaken on either of these points?
@@seatruth5737 First, please stop being a troll criticizing someone when you have not done your research. Second, I sought not to contradict Karlton's advice, but rather to add a few clarifying points since there are seldom absolutes and the exceptions can get you in trouble if you are not aware of them. Third, I have been getting my information from someone who has a legal background. One way an Irrevocable Trust can be modified is through Judicial modification. A court can be engaged to allow a modification. This is easier done if the grantor has not died yet and some circumstance has changed where the directions in the trust are no longer practical or possible. And Yes a Revocable Trust becomes Irrevocable upon the death of the grantor(s). "The general rule of thumb is that grantor(s) must die before the terms of the trust become irrevocable. " To help YOU do some research of your own Google the two following phrases and reference the associated links: "revocable trust becomes irrevocable" and "can you change an irrevocable trust".
@@stevenbingham3061 if you're paying attention, which I see you're not, an irrevocable trust stands in court and cannot be amended. He said that. He answered both of your questions.
I'll pay you 5% for business loan set up and application for 400K or more,my TU and Experian scores is 757 with 6yrs history,i got lease a warehouse 80K square foot and 600K of merchandise .
I beg to differ with this person regarding irrevocable trusts. I am a estate planner asset protection trust prepperation and Will expert for over 20 years. And I cnn tell you that irrevocable trusts can be changes and are not final until a death. No no no. This is a myth. Most attorneys accountants are not as versed in the administrative prepperation as I am when it comes trusts. Be careful listening to this person regarding this matter.
My accountant and lawyer put it simple. Have a will and in the will simply say follow the trust
This old man says love it only adding make sure it’s the 33 year Traditional Law Reform Interdiction Trust with 100 times the value NICER crime Interdiction Administration Permission Ledgers. To avoid the quit claim jumping equity elder abusing inheritance and legacy wealth transfer thieves.
Was on a webinar with a Pennsylvania law firm recently, where the topic was Trust VS Will, and overall cost was discussed. In PA, the cost of probate ranges between 3% and 7% of the estate's gross value. If using a 5% average, an estate with a $300,000 home (even if there's still a mortgage), $100,000 life insurance policy (if not in an irrevocable life insurance trust), and $100,000 in retirement funds, you have a $500,000 estate which will cost $25,000 to probate it. That inexpensive Will ultimately costs $25,000 in this specific example. The properly drafted and funded $1500-$2000 Trust avoids all this and leaves more money to the family. Would like to see this brought to light more often and save people a chunk of money.
In California the cost is 100% without NICER Crime Interdiction Administration Permission Ledger triple registered inheritances and legacy wealth transfers. To interdict the inheritances hijackers crawling out of the woodwork. With NICER Policy Protection provisions to arbite monitor and validate pink slips to grantors deeds. At a NICER Peacekeeping settled administration nickel and dime solution to crime and litigation quarter.
One important thing many people forget is to name beneficiaries (spousal or otherwise) on your IRA accounts. The will will not sort this out, and can cause headaches and delays for the people you want to leave money to.
i love Karlton's videos. So knowledgeable, and he explains things in an easy to digest way. which is why I hired Karla Dennis for tax advisory and preparation.. but after a year, I had to fire them- several thousand dollars in fees, and I couldn't get a response to an email or an advisory session scheduled, no matter how many 'associates' I'd Cc on my requests.
Mannnn…. Digg the way u break things down and keep it simple 💯 thanks for kickin knowledge and inspiring others 🙏🏾keep up the awesome work 💪🏾💪🏾💪🏾
i will also add as someone who works for a major bank, make sure trustee can be trusted. For the bank i work for we will make you take the house deed out the trust and put in in your name before we help you. That person then should put the property back into a trust and a lot of the time they dont. The other people on the trust get upset with the person not putting it back into a trust and it becomes a large legal battle.
Thank you for this comprehensive video. This is the best explanation yet
Great video. Thanks for taking the time to create this. Very helpful
Great video! I always'd wondered what the difference between a Trust and Will was. Simply and concise explanation.
I wish I would have finished my accounting courses back in college.
This is awesome!
Love your videos !! Always learning something new throughout them 👍🏽❗️
Another great video ... what about a trust when there is a second marriage, and there are children from each spouse's first marriage. If one spouse dies before the other, how can you ensure the children of the spouse who dies are taken care of ... ie, assets are not just distributed to the surviving spouse's children.
I have a few questions:
1. What is the purpose of holding companies within trusts?
2. Is it possible to create nested trusts?
3. Are trusts legally universal legal/fiduciary instruments or are they bound by the laws of a country?
Great answer.
I can help people pass 80 percent of a families wealth onto their loved ones bypassing the inheritance tax etc. It requires having A Will and all et al your assets things is separate trusts. That's the key.
Thank you so much for breaking this down ❤️
One you did not talk about is Land Trust
AS always #KarltonDennis you explain things simply, and straight forward. Now what are the tax implications of 'Revocable/Irrevocable trusts?" ;)
Wow. That was a great video and I will definitely share it.
How can I get a hold of your office? Also do you have any advice for North Carolina? Thank you!!
You need both. The will shows them what to do in the event of sudden death.
How much does it cost to establish a simple revocable trust with your lawyers please?
Brother thank you
Very informative video
A couple of points...
1. I understand that there are some circumstances where an Irrevocable Trust can be changed/amended.
2. When the grantor of a Revocable Trust dies, then the trust effectively becomes an Irrevocable Trust.
Am I mistaken on either of these points?
You're wrong. Seek out someone that is experienced with estate planning. This is coming from someone who has a legal background. 😉
@@seatruth5737 First, please stop being a troll criticizing someone when you have not done your research.
Second, I sought not to contradict Karlton's advice, but rather to add a few clarifying points since there are seldom absolutes and the exceptions can get you in trouble if you are not aware of them.
Third, I have been getting my information from someone who has a legal background.
One way an Irrevocable Trust can be modified is through Judicial modification. A court can be engaged to allow a modification. This is easier done if the grantor has not died yet and some circumstance has changed where the directions in the trust are no longer practical or possible. And Yes a Revocable Trust becomes Irrevocable upon the death of the grantor(s). "The general rule of thumb is that grantor(s) must die before the terms of the trust become irrevocable. "
To help YOU do some research of your own Google the two following phrases and reference the associated links: "revocable trust becomes irrevocable" and "can you change an irrevocable trust".
@@stevenbingham3061 if you're paying attention, which I see you're not, an irrevocable trust stands in court and cannot be amended. He said that. He answered both of your questions.
@@stevenbingham3061 read trust law before you try to argue with me.
@@stevenbingham3061 an irrevocable trust is an " expressed contract" ! Nothing supercedes contract law not even court!
I'll pay you 5% for business loan set up and application for 400K or more,my TU and Experian scores is 757 with 6yrs history,i got lease a warehouse 80K square foot and 600K of merchandise .
I will definitely be reaching out to you and your company... Definitely a conversation better
had sooner, rather than later and be to late. #Hotep
What's the VIP Club?
Love it …. Thank you
Can you do PMA vs LLC
there are no available time slots to stay with your staff through January 2023? Any expectation additional time slots will open up?
Is a lawyer required to create either a trust or a will?
No, not necessarily. The more assets or complex the distribution or tax liabilities the more an attorney will make sense.
Another important point to note is a Will can only hold assets up to a financial limit, varies by state, i.e., $166,250 (CA)
Absolutely not. Be careful of a club and geniuses practicing law without a license.
@@morradovr6 not in florida. You can give away unltd like 5 10 15 mill by will.
@@combatdouglas1306 "varies by state" genius.
Can a trustee make themselves a beneficiary?
Who edits your videos?
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only need a Will when u have child(ren) "who gets them"--- everything else individual Trust(s) be it real and/or personal--- any Qs😎
APPRECIATE YOUR INSIGHT🐝👑🐝👑🐝👑✌🏾🚀🪶
$thankyou #this was very helpful
you look like an evo x guy
I beg to differ with this person regarding irrevocable trusts. I am a estate planner asset protection trust prepperation and Will expert for over 20 years. And I cnn tell you that irrevocable trusts can be changes and are not final until a death. No no no. This is a myth. Most attorneys accountants are not as versed in the administrative prepperation as I am when it comes trusts. Be careful listening to this person regarding this matter.