Great advice Mark. When my Dad passed away, he didn’t have a lot of money but he did have a solid living trust. He was the trustee until he passed then the trust identified four co-successor trustees (me being one of them). This might sound funny but it means that nothing happens without transparency and agreement. It’s resulted in zero drama or strife with family members. I now need to do the same thing.
DUDE!!! Life insurance agent/financial planner here. You are spot on about what you just said on Life Insurance! True needs of the client should come first not the commission of the agent!
Love the video. Please make a video for people who resides outside your firm in looking for law and accounting firms that may have similar interests and expertise based on a list of questions and other factors you can provide to us. Thank you.
Any tips on with a trust on federal income taxes? I see that trusts pay 37% federal income tax on ordinary income or gains starting at only 14K in taxable income. What suggestions would you have in order to keep from paying so much federal income tax in a trust? My home state doesn't have a big state income tax so it's not a real problem but the federal income tax rate is huge when they take 37% of interest earned or short term stock gains.
If I move all assets, like cash, stock, the revocable living trust needs an EIN number in order to move the assets to the trust. Am I correct? If i move the cash to the trust, the bank needs an ID to open an account under the trust name. What of kind of deed should I use when I move the real estate property to the living trust in Texas? Warranty Deed or Quit Claim Deed?
I no longer check any of these boxes but 7 would be better worded your not immortal/invincible. Ive lost alot of friends in their 20s and 30s where it would have made the families lives immensely easier
Just hope you have gone to an Estate planner to have one for yourself. For your parents, if they have passed on, Probate is expensive, even if they had a Will but the paper mess will be cleaned up in the end.
Hi Mark we have rental income from two sfh. Have opportunity to “buyout “ my brother on the 3 family we live in. Real estate is in my wife’s name. How should we proceed? No llcs or trusts are established! She has stellar credit. Current rate on mortgage is 3.2%. Please advise.
trust. don''t put car in trust. the trust can own the car but the corparation can own lots of stuff. you control. don't own. and when you die. everything is tranfered to the heir. but the trust controls the ownership. so they can't spend without trusts permission
Do they have to know about will/trust before you die? Wouldn’t it be better to be organized and be intentional on where your assets are going after you leave?
You don't have to tell them. Just inform your Attorney who you want as beneficiary and their contact details in your Trust, then if/when you pass, your Attorney will contact them of your wishes at that time and not before then.
Has anyone taken into consideration that the old world that we are living in and the new world is right on our doorstep in fact it's got one foot through the threshold, and one of these worlds is going to dissipate, I'm not trying to say that the old world is antiquated because it's still in use and it's still working, however know this fiction and nonfiction cannot exist together and so right about now you're probably wondering WTF is this guy talking about right... Contracts are all void if not written in Correct Parse Sytax Grammar, period! and also since we are in martial law since December 12th 2004 things aren't the same, for example one of which the IRS has been kicked out of the United States, So that's just one thing that you should know... For more information there's a playlist titled "WAR-CASTLES: 999" I challenge anyone who is concerned about these hidden changes to watch as many of those videos as possible. Thanks bye!😏👍🇺🇸
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Great advice Mark. When my Dad passed away, he didn’t have a lot of money but he did have a solid living trust. He was the trustee until he passed then the trust identified four co-successor trustees (me being one of them). This might sound funny but it means that nothing happens without transparency and agreement. It’s resulted in zero drama or strife with family members. I now need to do the same thing.
DUDE!!! Life insurance agent/financial planner here. You are spot on about what you just said on Life Insurance! True needs of the client should come first not the commission of the agent!
Love the video. Please make a video for people who resides outside your firm in looking for law and accounting firms that may have similar interests and expertise based on a list of questions and other factors you can provide to us. Thank you.
Learned so much from you today. Thank you!
Any tips on with a trust on federal income taxes? I see that trusts pay 37% federal income tax on ordinary income or gains starting at only 14K in taxable income. What suggestions would you have in order to keep from paying so much federal income tax in a trust? My home state doesn't have a big state income tax so it's not a real problem but the federal income tax rate is huge when they take 37% of interest earned or short term stock gains.
Revocable vs irrevocably
If I move all assets, like cash, stock, the revocable living trust needs an EIN number in order to move the assets to the trust. Am I correct? If i move the cash to the trust, the bank needs an ID to open an account under the trust name.
What of kind of deed should I use when I move the real estate property to the living trust in Texas? Warranty Deed or Quit Claim Deed?
We need a NICER 33-year reform Latin Law Living Trust Crime Interdiction Administration. Not the Revocable Living Trust NICEP bravely caveated fails.
I purchased from Mark Kohler's team. sooo happy with the product. Also, I got peace of mind once it was done. Highly recommend.
Good content Mark!
I am 61 and have a 401k with my job. Can I take a distribution from my 401k to put into a selfdirected ira or 401k roth to invest how I want?
How do you do a trust?
At 3749. When you say deed the property over, are you saying assigned to the trust your mortgage property?
I no longer check any of these boxes but 7 would be better worded your not immortal/invincible. Ive lost alot of friends in their 20s and 30s where it would have made the families lives immensely easier
Keep up the great work....I really appreciate your videos....I definitely would like to make contact with your firm for services!!!
Steve
What are your opinions about a land trust for putting rental properties in?
I wish my parents had had a living trust.
Just hope you have gone to an Estate planner to have one for yourself. For your parents, if they have passed on, Probate is expensive, even if they had a Will but the paper mess will be cleaned up in the end.
Can you compare Living Trust and CRUT?
Is there a discount code to attend virtually?
Hi Mark we have rental income from two sfh. Have opportunity to “buyout “ my brother on the 3 family we live in. Real estate is in my wife’s name. How should we proceed? No llcs or trusts are established! She has stellar credit. Current rate on mortgage is 3.2%. Please advise.
trust. don''t put car in trust. the trust can own the car but the corparation can own lots of stuff. you control. don't own. and when you die. everything is tranfered to the heir. but the trust controls the ownership. so they can't spend without trusts permission
Another great video, always on point Mark. Thank you for being totally honest.
Vegetable is not pc Mark cmon
The reason I don’t have a will/trust is I don’t want anyone in my family or friends to be looking forward to my demise.
Do they have to know about will/trust before you die? Wouldn’t it be better to be organized and be intentional on where your assets are going after you leave?
You don't have to tell them. Just inform your Attorney who you want as beneficiary and their contact details in your Trust, then if/when you pass, your Attorney will contact them of your wishes at that time and not before then.
Has anyone taken into consideration that the old world that we are living in and the new world is right on our doorstep in fact it's got one foot through the threshold, and one of these worlds is going to dissipate, I'm not trying to say that the old world is antiquated because it's still in use and it's still working, however know this fiction and nonfiction cannot exist together and so right about now you're probably wondering WTF is this guy talking about right...
Contracts are all void if not written in Correct Parse Sytax Grammar, period!
and also since we are in martial law since December 12th 2004 things aren't the same, for example one of which the IRS has been kicked out of the United States, So that's just one thing that you should know... For more information there's a playlist titled
"WAR-CASTLES: 999"
I challenge anyone who is concerned about these hidden changes to watch as many of those videos as possible.
Thanks bye!😏👍🇺🇸
Is there a phone number I can contact you guys