How A Living Trust Avoids Estate Nightmares (Probate Fees Exposed!)
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- Опубліковано 2 чер 2024
- Have you ever wondered what happens to your estate when you pass away? Or what if you become incapacitated? In this enlightening video, we're tackling the often-overlooked issue of probate fees and estate handling.
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Show Notes:
0:00 What Happens to Your Assets When You Pass
3:23 Probabe Fee Example
5:32 Why to Use Living Trusts
7:55 Protections in Your Trust
9:51 Outro
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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 #probate
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My father died and left no will, I’ve been dealing with this for 6+ years. Due to the fact the oldest sister closed accounts no probate attorney wants to touch it…
How could she close the accounts? Must have had access already-shame on her . Sorry to read of your dilemma.
I am so sorry to hear about your situation. Dealing with legal matters can be incredibly challenging, especially when family dynamics come into play.
I appreciate this wisdom. 😊
Gosh, Probate is expensive and will eat a great deal of the family assets/funds. Definitely best to get a Trust while the head of household is alive. Will save a lot of headache and cost for the family members who are left behind. Thank you for the knowledge. Have been watching a few of your videos and learning a great deal.
Thank you for your support and for watching my videos. It means a lot!
how can someone protect/distribute a larger estate?
It all starts with creating a quality Estate Plan which will inlude a Trust. Depending on the value of the estate and what you want to do with your assets, a Trust can be created to meet those goals. I recommend signing up for a free consultation with my team to learn more. Visit: aba.link/wph
Hi, how much does it cost to maintain a Revocable living TRUST? after it becomes irrevocable upon the death of the decedent.
Once you have the RLT funded, which your Lawyer should have done before your signed it, there are no costs. However, if you will make some major changes, then there might be a small lawyer fee or court fee if you are changing deeds or something. Check with your lawyer who prepared your RLT.
I recommend registering for a complimentary consultation with my team. We'll tailor our advice to your specific needs. Sign up here: aba.link/wph
What about a lady bird deed .. Is that at good as a trust when it come to taxes?
Thanks for bringing up the lady bird deed! I would recommend setting up a free consultation with my team so we can provide the best answer. aba.link/wph
What states do you operate in. I'm in Alabama
Anderson does business in all of the USA I believe.
We operate in all 50 states. You can sign up for free consultation here: aba.link/wph
Cant you just use TOD, POD, and joint ownerships on everything?
TOD or POD are usually for Bank accounts/stocks/shares/mutual funds. If you have a house, furniture, jewelry, etc., those won't cover it. Contact a lawyer as many have Free consultation on a Trust and if it is necessary for you. Depending the State, if assets are under a certain amount, you might not even have to go through a "full" Probate.
@@DRventura333 Thanks. I'm in Florida so for real estate we have 'Lady Bird' deeds which are essentially TOD. Can you expand on furniture/jewelry etc? Wouldn't those be contents of the home and included with the property?
@@mscolli3 As you are in Florida best to contact a lawyer who provides Free consultation in your State for proper guidelines on Estate Planning/Trusts.