Except that they won't teach the kids about how the bank fees the trusts down to nothing. My ex business partner's grandfather worked in finance in NY and put $50, 000,000 in a trust. 10 years after he died there was less than about $900,000 left. My opinion is "Never give banks or anyone control of your money or any other assets. If you need to, get yourself educated and manage your own assets, so you won't risk meeting a bad actor.
I wanted to ask you as a living TRUST was me and brother. My Dad did the living will. Dad deeced and my mother was sick. at the time I was living at home. Well my cousin live with mom and me and her 3 kids. We didn't get along at all. Well cousin kelp pushing my about changing the will my mother want to live as the way my Father did it. Well after mother told me to leave because of my cousin. Didn't know mom was dieing . Mom die at home like my Father did. Well after mom pass cousin change everything took off our name and she made a quit claim to a gift put property in her name got my heir didn't event get my share cousin didn't event tell me. Mom didn't have a lawyer at the time of her pass. So I see CLC Lawyer she see 5he document and know it was forgerty and fraud. But didn't have the money to put up to take her to court. I am hearing impair very slow. I have try for help no one will help me .thank you Sir for you time
You seem to be a wise and decent man! I lost my dad at 13. Looking back I realize the steep cost in many ways. Your children are fortunate to have a good dad.
Yes, I agree BeeTee, his children are fortunate to have him as their dad. My respect for him for loving his children well and not let them fell like they are entitled by putting conditions on the living trust. The children have to earn their parents assets and learn to value their parents hard work. I like the example about the fancy Mercedes, I can see how trust babys could just blow the money on superficial stuff because it did not cost them nothing. He is loving and wise. I wish I had a dad like him growing up 😁 and I don't mean it in a materialistic sense but because of his knowledge and wisdom. He is a decent human being.
@@lindaclark8615 I hope that you're an awesome enough Dad to the point that your kid will good enough with dealing with you dying. I don't have kids, but I don't think that a parent want their kid to be indifferent to the parent's death.
Excellent explanation. Well done. I have a trust but there's more I need to know about it. The living will is what I'm missing. People need to know this stuff.
A living trust is an estate-planning tool wherein assets are transferred to named beneficiaries by a person's will, rather than by requiring a probate court's approval.
Father died with a will, 15 yrs ago....nightmare, went into probate nothing concluded for 18 months and was a mess for the executrix. Mother died last month had a trust 1 month later most assets distributed! Great info
I couldn't agree more! I've just lived through 3 1/2 years of the legal process, as administrator of my Dad's Probate (he had died at 89 with NO Will or Trust. In spite of only modest assessts, the process costs thousands of dollars in legal feess & 3 1/2 stressful years of my time. Don't let this be the case for you ~ if you love your family, take care of this while young & healthy enough to do so, to spare them going through his horrid process called Probate.
Post Probate, obtain an IRS EIN entity. DEED land over to their name. Kidd, Diana Sr. Est. Do a title search and you are the signee. No longer vexatious when they are in the Land Records.
When I watch information like this ...I can’t help but think of a system my people have been robbed of an opportunity to fairly participate in and in some cases robbed of the tangible property itself .
Interesting in that Trusts, of all variations, have now become a new loss leader for law firms. Many states allow a person to title their real estate holding to have a Transfer on Death listed on the deed. this creates an avoidance of not only Probate but also attorney fees associated with administering a Trust. Of course this doesn't work in all jurisdictions but has served many of my clients very well and seamlessly allowed for real estate to be transferred with just a new deed and copy of the death certificate being filed.
Subscribed. Thanks for sharing this is one of the best videos on living trust I seen. I shared it with my best friend who is a real estate investor and I shared it with my mom.
Awesome information! Clint explained this very confusing topic in terms that even a 12 year-old could understand. Thank you for making my decision to not only obtain a Living Trust but also a Living Will!
I in my time, have been the court approved executor of two pro baits and did not need a solicitor ( lawyer ) It is a sad duty but it is not a hard job ( a very over paid job when employing a solicitor ) I did it for FREE as promised to one of the diseased. and FREE when my brother passed, being executor for his wife. and I am just a layman, no law training.
Thank you for sharing this video... explained exactly why m delayed to sign the will that I iintended to set up for my family cost $500.. My insticnt feeling strongly disagree not trust to continue and finalised the paper work with the lawyer.. You have explained how I felt.and fear to trust the lawyer... Now Im learning also confirm to apply for a Living Trust.. Thank you for your informative presentation..Blessings😍
You're an incredible father sir. I wish my father would have been more like you. I'm trying to be that for MY kids, to leave them a legacy and educate them financially so they won't be financially illiterate like my dad, God bless him. Starting young too. 😉 My oldest is only five, lol, but she's freaking SMART. 🧠
Thank you Clint , this really holds a great deal of impact. I did not understand this concept and left this video with a great starting point! Appreciate you for sharing this in this way.
Mr. Clint I really appreciate you 🙏 and wish you were around when my parents past. My mom passed 2018 and dad 10 years prior and I still have an open probate case and I feel as the executive of the estate I did most of the work and getting billed by a lawyer the whole time smdh 😑 luckily we about to close out this case in a couple weeks whew! 😅 and like you said they had two properties and a couple hands full of accounts. P.s. my mom left money for my children too whom are still minors and that's a whole other process.
Mrs. Batson, stories like yours are far too common. It's good to hear that the journey is nearing the end but the road. Sounds like you got yourself a legal education on probate law. 😀
Whoa, Clint, hold on. I believe you previously advocated for a family limited partnership to avoid probate. When would a LT be better, when would a FLP be better? Do you have a video on both of these? I am an Anderson client.
No a limited partnership does not avoid probate. A limited partnership is included in your estate and if not owned by your living trust will need to go through probate.
After five years of marriage i found out the one thing that makes it difficult is financial struggle, its not like my husband and i aren’t making money it’s just we barely have time for each other and there’s no amusement or new event it’s just work and the kids and that was fine but i wanted more..then i heard of a financial advisor on the radio who basically makes money for me and right now i have close to 100grand with her in my portfolio. now we pay for our vacation without breaking a sweat or losing sleep
me too, pls any advice you can give at all would be appreciated. i just turned 40, i don't think i'm hot cake in the dating market anymore.. i can't afford to walk away from this
@@vanhall9513 sure i get it hun. i’ve been there too. My F.A's name is Lucy Maria Koss, i googled her and reached out to her from her website and honestly you should too. Goodluck with your marriage dear. it isn't over until you say it is !
I am a very happy and grateful Client of Clint's company. It started by attending a Conference, then seeing him at an event and him giving me a book to read (did so and marked it up) and watching most of his videos. I am about to start this process with his company and if you have any assets I suggest you do the same! If its like the other services I have experienced with his company, Entity formation and management along with tax preparation and guidance I know I will be in very capable hands!
Clilnt this was an excellent presentation. Clear, precise, practical and very informative. I live in Toronto Canada and have greatly benefited from your explanation. I have taken notes!!!
Two questions: 1) Will you need a EIN# for your Revocable Living Trust? 2) Can I assigned all my membership interest from my LLC and transfer all my Shares from my Corp to the RLT and used that to fund my R.L.T. ??
Hey did you put wills on the list twice by mistake? Also your videos are very well done, consider using on screen premade graphics maybe fading in next to you to easily list and organize thoughts. You are my go to for this kind of content, keep it up!
@@ClintCoons the titled assets I guess apply to vehicles. How do I put them into my trust. Do we just go to the courthouse and change everything to Living Trust and have both our names on the title? We had a Revocable Living Trust set up for our house and had to record it at our courthouse. Does everything have to be recorded at the courthouse or just on paper for tags, etc? We have our children as beneficiaries on our checking account. Should that be changed? I’m so confused of how to go about funding a Revocable Living Trust and if everything goes on separate documents or listed on one document? I’ve watched several videos and still don’t have answers.
@@sharondaugherty389 Yes you need to have everything where your name appears on the title changed over to your living trust. For example, contact your DMV to change the vehicles to your living trust as the owner, your personal banking accounts will need to reflect your living trust as the owner of the account.
Great information! Thank-you. I noticed you didn't put the primary residence home in the POD. If you own your home with no mortgage, should it be in the POD as well?
I would place it into a trust. Very few states allow what you are referring to when it comes to real estate unless you want to hold title as joint tenants.
This is difficult and takes early planning to move assets to keep them from being sucked in to cover expenses. This is state specific so I would contact an elder law attorney if this is a concern.
@@ClintCoons Thank you. I helped my parents create a Living Trust many years ago, but now that they are in their 80's I am afraid that it is not enough to protect from this, if it wasn't matched with a long-term health care policy or slowly transferring their assets to their heirs 7 years before they need long-term care. Now they are 85 and 81, SMH. We have some work to do.
Hey Clint, after just seeing one video of yours I honestly learned so much, you deserve a subscribe ! Can you please make some videos about offshore companies handled by trusts, advantages and disadvantages of it and for tax avoidance legally ? thank you very much !
Dean thanks for subscribing but we do not touch offshore. Offshore planning is outside of our wheelhouse and something we do not have any experience with setting up.
I have heard you say buy income properties in an LLC, how do you put that in your trust? I thought the LLC protects against lawsuits and taxes. But if you own it in a trust, then the trust owns the property, correct? Do you have the same legal protection and tax benefits?
You place the LLC into your trust. Thus, the LLC owns the real estate and the living trust owns the LLC. The LLC will provide the asset protection and the living trust provides the probate protection.
Clint maybe I missed, but I am wondering if you have done any video's on how to protect yourself from the very high costs of having to stay in a nursing home and or the State coming after all your assets to try to recover any Medicaid or other expenses that were incurred, so that we do not loose all of our assets. Is this type of protection included in your Living Trusts ?
I"m often perplexed how at times forms are simplistic and low-impact upon creating and filing, but have big ramifications. I'd like your opinion, from one site like rocketlawer we printed and filled in a durable PoA and got it notarized and the bank legal OK'ed it! I also printed a revokable living trust for my state and it's 21 pages...have not filled it in. Can you please demystify my thoughts that it is bigger than I'm thinking? I found the PoA easy to fill in. Just by having the living revokable trust, notarizing it, and filing it - that's it? it avoids probate just like that? :)
There's so much great information put out by Anderson, it's fantastic. From all your videos on asset protection, seems like the preferred structure by Anderson is WY LLC as a partnership, does that just go out the window with the living trust?
@@ClintCoons so that's only preferred on the case that there's no living trust. But the ultimate preference is having that living trust own the LLC outright
Thank you for such a clear explanation. A question for you though: Would placing a bank account into a living trust be unnecessary if the person simply makes their child a beneficiary of the account? (Versus having the child be the successor trustee of the trust with the bank account inside the trust). It seems that both of these actions would avoid probate. Thanks again.
No but then what happens if your child does not survive you or you both pass away in a car accident? A beneficiary designation is easy but if something goes amiss then you could run into problems.
@@ClintCoons OK, that makes sense, thank you for the quick reply and thank you for creating these educational videos! I am a former high school physics teacher (just retired) and the free help is greatly appreciated!
Claim Your FREE 45-minute consultation to receive business planning tips and asset protection. 👉 aba.link/06k
This guy is internet gold. An actual online asset. Fabulous video.
I wonder if his UA-cam channel is part of his trust....
On My Mama😤💪
This is the kind of information that should be taught in at least one semester of high school.
Facts
Yes!
Facts
Except that they won't teach the kids about how the bank fees the trusts down to nothing. My ex business partner's grandfather worked in finance in NY and put $50, 000,000 in a trust. 10 years after he died there was less than about $900,000 left. My opinion is "Never give banks or anyone control of your money or any other assets. If you need to, get yourself educated and manage your own assets, so you won't risk meeting a bad actor.
I wanted to ask you as a living TRUST was me and brother. My Dad did the living will. Dad deeced and my mother was sick. at the time I was living at home. Well my cousin live with mom and me and her 3 kids. We didn't get along at all. Well cousin kelp pushing my about changing the will my mother want to live as the way my Father did it. Well after mother told me to leave because of my cousin. Didn't know mom was dieing . Mom die at home like my Father did. Well after mom pass cousin change everything took off our name and she made a quit claim to a gift put property in her name got my heir didn't event get my share cousin didn't event tell me. Mom didn't have a lawyer at the time of her pass. So I see CLC Lawyer she see 5he document and know it was forgerty and fraud. But didn't have the money to put up to take her to court. I am hearing impair very slow. I have try for help no one will help me .thank you Sir for you time
You seem to be a wise and decent man! I lost my dad at 13. Looking back I realize the steep cost in many ways. Your children are fortunate to have a good dad.
Thanks
Yes, I agree BeeTee, his children are fortunate to have him as their dad.
My respect for him for loving his children well and not let them fell like they are entitled by putting conditions on the living trust.
The children have to earn their parents assets and learn to value their parents hard work.
I like the example about the fancy Mercedes, I can see how trust babys could just blow the money on superficial stuff because it did not cost them nothing.
He is loving and wise.
I wish I had a dad like him growing up 😁 and I don't mean it in a materialistic sense but because of his knowledge and wisdom.
He is a decent human being.
You're a good dad. I'm taking notes. 👍
Thanks
I hope my son can handle my death
@@lindaclark8615 I hope that you're an awesome enough Dad to the point that your kid will good enough with dealing with you dying. I don't have kids, but I don't think that a parent want their kid to be indifferent to the parent's death.
Thank you for sharing this, its stunning to me how little we are prepared for living and dying. This is free gold!
Excellent explanation. Well done. I have a trust but there's more I need to know about it. The living will is what I'm missing. People need to know this stuff.
You are brilliant Clint. And a terrific, personable public speaker! God bless you for sharing this great information. 🙏
I am so happy that you are sharing this knowledge! Thank you!
A living trust is an estate-planning tool wherein assets are transferred to named beneficiaries by a person's will, rather than by requiring a probate court's approval.
I’m confused!? Do you teach? Or have a problem?.
Father died with a will, 15 yrs ago....nightmare, went into probate nothing concluded for 18 months and was a mess for the executrix. Mother died last month had a trust 1 month later most assets distributed! Great info
Thanks
I couldn't agree more! I've just lived through 3 1/2 years of the legal process, as administrator of my Dad's Probate (he had died at 89 with NO Will or Trust. In spite of only modest assessts, the process costs thousands of dollars in legal feess & 3 1/2 stressful years of my time. Don't let this be the case for you ~ if you love your family, take care of this while young & healthy enough to do so, to spare them going through his horrid process called Probate.
Yes honey that's why I'm following Clint's page now so I don't put my children through this. Yeesh!
Did someone contested..
Post Probate, obtain an IRS EIN entity. DEED land over to their name. Kidd, Diana Sr. Est. Do a title search and you are the signee. No longer vexatious when they are in the Land Records.
Your antidote using a POD was perfect.
Now I can easily remember the purpose of a living Trust and can share it too.
"Anecdote"
I am currently beginning to build my will for the first time and ran into this little gem. Thank you! I am now subbed
Clint, Thanks for Sharing! maad Respect for you KeePinG iT Logical n ReaL! ( Hope Carter realizes he’s fortunate to have you for a Dad )
When I watch information like this ...I can’t help but think of a system my people have been robbed of an opportunity to fairly participate in and in some cases robbed of the tangible property itself .
Same here
Interesting in that Trusts, of all variations, have now become a new loss leader for law firms. Many states allow a person to title their real estate holding to have a Transfer on Death listed on the deed. this creates an avoidance of not only Probate but also attorney fees associated with administering a Trust. Of course this doesn't work in all jurisdictions but has served many of my clients very well and seamlessly allowed for real estate to be transferred with just a new deed and copy of the death certificate being filed.
Is there a particular time that title must be done or at any time
Always love your analogies..you are a good teacher..learned a ton from your videos and I share it with friends as soon as I get a chance
Thanks
You do a great job explaining these processes. Binge watching your videos...now my brain is full!
Three years old and still good information. Thank you!
You bet!
Thanks for making it easy to understand!. Very good public speaker.
Glad it was helpful!
Subscribed. Thanks for sharing this is one of the best videos on living trust I seen. I shared it with my best friend who is a real estate investor and I shared it with my mom.
Awesome, thank you!
Awesome information! Clint explained this very confusing topic in terms that even a 12 year-old could understand. Thank you for making my decision to not only obtain a Living Trust but also a Living Will!
T Rowe
Thanks for watching.
I in my time, have been the court approved executor of two pro baits and did not need a solicitor ( lawyer ) It is a sad duty but it is not a hard job ( a very over paid job when employing a solicitor ) I did it for FREE as promised to one of the diseased. and FREE when my brother passed, being executor for his wife. and I am just a layman, no law training.
Thank you for sharing this video... explained exactly why m delayed to sign the will that I iintended to set up for my family cost $500.. My insticnt feeling strongly disagree not trust to continue and finalised the paper work with the lawyer.. You have explained how I felt.and fear to trust the lawyer... Now Im learning also confirm to apply for a Living Trust.. Thank you for your informative presentation..Blessings😍
You are so welcome
Thank you so much, not only for the information but not begging for likes, subscriptions, and notifications.
PokeFit3
Thanks for watching.
best video ive seen for a newbie REI investor
You're an incredible father sir. I wish my father would have been more like you. I'm trying to be that for MY kids, to leave them a legacy and educate them financially so they won't be financially illiterate like my dad, God bless him. Starting young too. 😉 My oldest is only five, lol, but she's freaking SMART. 🧠
Thank you and all the best to you and your family.
Thank you, Clint. You expained everything so clearly.
Dude I love how you explain this so well. I completely Comprehend everything you explain. I think you so much I'llbe watching this video over again.
I appreciate that!
Thank you Clint , this really holds a great deal of impact. I did not understand this concept and left this video with a great starting point! Appreciate you for sharing this in this way.
Glad it was helpful!
Mr. Clint I really appreciate you 🙏 and wish you were around when my parents past. My mom passed 2018 and dad 10 years prior and I still have an open probate case and I feel as the executive of the estate I did most of the work and getting billed by a lawyer the whole time smdh 😑 luckily we about to close out this case in a couple weeks whew! 😅 and like you said they had two properties and a couple hands full of accounts. P.s. my mom left money for my children too whom are still minors and that's a whole other process.
Mrs. Batson, stories like yours are far too common. It's good to hear that the journey is nearing the end but the road. Sounds like you got yourself a legal education on probate law. 😀
i love the way he explains it. im a visionary, so seeing you draw it on the board keeps it simple and i love the examples you use, such as the bikes
Vernida Kendall
Thanks for watching.
Great video and surprisingly funny for a financial guy 12:36 ‘You used to be on here’ 😂🤣
My pleasure.
Amazing. This info is gold. Thank you so much.
Glad it was helpful!
Thank you, your explanation was very clear and informative
Thank you. I have been procrastinating setting up a living trust. After watching your video, I will definitely get it done!
Perfect
Whoa, Clint, hold on. I believe you previously advocated for a family limited partnership to avoid probate. When would a LT be better, when would a FLP be better? Do you have a video on both of these? I am an Anderson client.
No a limited partnership does not avoid probate. A limited partnership is included in your estate and if not owned by your living trust will need to go through probate.
Excellent! Clear, concise, highly relevant information! Thankyou.
Glad it was helpful!
After five years of marriage i found out the one thing that makes it difficult is financial struggle, its not like my husband and i aren’t making money it’s just we barely have time for each other and there’s no amusement or new event it’s just work and the kids and that was fine but i wanted more..then i heard of a financial advisor on the radio who basically makes money for me and right now i have close to 100grand with her in my portfolio. now we pay for our vacation without breaking a sweat or losing sleep
this is very good advice
honestly, this is what has been on my mind lately. please can you give me your advisor's details? its urgent
me too, pls any advice you can give at all would be appreciated. i just turned 40, i don't think i'm hot cake in the dating market anymore.. i can't afford to walk away from this
@@vanhall9513 sure i get it hun. i’ve been there too. My F.A's name is Lucy Maria Koss, i googled her and reached out to her from her website and honestly you should too. Goodluck with your marriage dear. it isn't over until you say it is !
Another outstanding presentation, Clint. Clear, insightful and invaluable. Thank you!
Much appreciated!
Trust, Living Will, Medical P.O.A., Financial P.O.A., Will, Schedule of Gifts, got it ☺
What's the tax implications of selling a residential property when its held in a living trust?
None. The living trust is a grantor trust and is ignored for federal tax purposes.
@@ClintCoons thank you
I love this guy, one day I'm going to be rich and use your services
thanks
Very good presentation. No I know what a living trust is and why I should have one.
Thank you atty. for the information. Your kids and wife are so lucky.
I think I am the lucky one. :)
ABSOLUTELY Great information exsplained perfectly
Glad you enjoyed it!
I am a very happy and grateful Client of Clint's company. It started by attending a Conference, then seeing him at an event and him giving me a book to read (did so and marked it up) and watching most of his videos. I am about to start this process with his company and if you have any assets I suggest you do the same! If its like the other services I have experienced with his company, Entity formation and management along with tax preparation and guidance I know I will be in very capable hands!
Wow Darrin thanks for the nice compliments. Looking forward to working with you.
This is amazing. I feel like I should be paying you for this course. Great job. Thank you!
Glad you like it!
Incredibly informative!!! Thank you for the personal share as well.
Glad it was helpful!
Clilnt this was an excellent presentation. Clear, precise, practical and very informative. I live in Toronto Canada and have greatly benefited from your explanation. I have taken notes!!!
Glad it was helpful!
God Bless you and your family...
I loved it even more when you used the diagram! Great video!
Thanks
Two questions: 1) Will you need a EIN# for your Revocable Living Trust? 2) Can I assigned all my membership interest from my LLC and transfer all my Shares from my Corp to the RLT and used that to fund my R.L.T. ??
You do not need an EIN for your living trust and yes you can assign your ownership interest in your LLC or corp to your living trust.
This is very important.
Good baseline for a potentially very complicated process.
Hey did you put wills on the list twice by mistake? Also your videos are very well done, consider using on screen premade graphics maybe fading in next to you to easily list and organize thoughts. You are my go to for this kind of content, keep it up!
Everyone needs to see this video, great content.
Thanks
Could I just say “all my earthly possessions” in case I forget to list something in my trust? Thanks for this very important content.
Yes you can! This will apply to all non titleable assets.
@@ClintCoons the titled assets I guess apply to vehicles. How do I put them into my trust. Do we just go to the courthouse and change everything to Living Trust and have both our names on the title? We had a Revocable Living Trust set up for our house and had to record it at our courthouse. Does everything have to be recorded at the courthouse or just on paper for tags, etc? We have our children as beneficiaries on our checking account. Should that be changed? I’m so confused of how to go about funding a Revocable Living Trust and if everything goes on separate documents or listed on one document? I’ve watched several videos and still don’t have answers.
@@sharondaugherty389 Yes you need to have everything where your name appears on the title changed over to your living trust. For example, contact your DMV to change the vehicles to your living trust as the owner, your personal banking accounts will need to reflect your living trust as the owner of the account.
Great information! Thank-you. I noticed you didn't put the primary residence home in the POD. If you own your home with no mortgage, should it be in the POD as well?
I would place it into a trust. Very few states allow what you are referring to when it comes to real estate unless you want to hold title as joint tenants.
Good info! Easy to understand. Thanks
Wow! This was the information I was looking for. Thank you for your expertise and guidance.
Glad it was helpful!
Thank you for sharing this liked, subscribed and notifications on. How do you protect an estate from being eaten up by long term care expenses?
This is difficult and takes early planning to move assets to keep them from being sucked in to cover expenses. This is state specific so I would contact an elder law attorney if this is a concern.
@@ClintCoons Thank you. I helped my parents create a Living Trust many years ago, but now that they are in their 80's I am afraid that it is not enough to protect from this, if it wasn't matched with a long-term health care policy or slowly transferring their assets to their heirs 7 years before they need long-term care. Now they are 85 and 81, SMH. We have some work to do.
Excellent video , I learned so much and very quickly.
Glad it was helpful!
I love all the great info in you videos thank you I see them all. Very helpful videos
Thanks
Great info! Thank you
I'm glad you found the information helpful
THANKS! You broke a trust down perfect.
Wow. You are preaching!
This is fantastic information. Everyone needs to watch this!
Thanks
Great advise. I own real estate with mortgage on it, i was gonna deed it to my llc, but now i see a better alternatives. Thank you.
Very welcome!
@@ClintCoons Hi Clint, would you advice to deed properties with a mortgage to LT and if so would the children need a LLC upon me passing
Love the control the kids part 🤣😂🤣
Thank you for the invaluable information.
Glad it was helpful!
Sir, this video opened my eyes.
I'm so glad!
This video was extremely informative! Thank you so much!
Much appreciated.
Hey Clint, after just seeing one video of yours I honestly learned so much, you deserve a subscribe !
Can you please make some videos about offshore companies handled by trusts, advantages and disadvantages of it and for tax avoidance legally ?
thank you very much !
Dean thanks for subscribing but we do not touch offshore. Offshore planning is outside of our wheelhouse and something we do not have any experience with setting up.
@@ClintCoons Thanks for the quick response, looking forward for more videos :)
Great presentation! Thank you.
Glad it was helpful!
I just got screwed out of my grandmother's trust. As a designated named beneficiary! I am now going to appellate court. It's crazy.
Sorry to hear that.
Thank you for your content your channel is amazing such a Blessing. Thank you sir.
1 Dream Consultants
Thanks for watching.
I have heard you say buy income properties in an LLC, how do you put that in your trust? I thought the LLC protects against lawsuits and taxes. But if you own it in a trust, then the trust owns the property, correct? Do you have the same legal protection and tax benefits?
You place the LLC into your trust. Thus, the LLC owns the real estate and the living trust owns the LLC. The LLC will provide the asset protection and the living trust provides the probate protection.
@@ClintCoons Brilliant!
Clint maybe I missed, but I am wondering if you have done any video's on how to protect yourself from the very high costs of having to stay in a nursing home and or the State coming after all your assets to try to recover any Medicaid or other expenses that were incurred, so that we do not loose all of our assets. Is this type of protection included in your Living Trusts ?
I have not. Not an area I am familiar with.
This was phenomenal
Thanks
This was excellent. Thank you.
That was a great presentation! Thank you!
Glad it was helpful!
VERY good video. Learned a ton.
Glad it was helpful!
“You use to be on here but your not because I haven’t seen you in two months”😂😂
I wouldn’t want my children “beneficiaries” to shoulder that burden good vid
Great video, thank you!
Glad you liked it!
This was Amazing! Life changing info!! Thanks for sharing! New sub! 🔥 🔥 🔥
This was so easy and simple for me to understand, thank you!!
Some people do a private closed probate. What options are available to see the final distribution of closed probate cases.
I"m often perplexed how at times forms are simplistic and low-impact upon creating and filing, but have big ramifications. I'd like your opinion, from one site like rocketlawer we printed and filled in a durable PoA and got it notarized and the bank legal OK'ed it! I also printed a revokable living trust for my state and it's 21 pages...have not filled it in. Can you please demystify my thoughts that it is bigger than I'm thinking? I found the PoA easy to fill in. Just by having the living revokable trust, notarizing it, and filing it - that's it? it avoids probate just like that? :)
The trust will only avoid probate if you transfer all of your titled assets into the trust otherwise you will still be in probate.
Very savvy and smart man
Thank you!
There's so much great information put out by Anderson, it's fantastic. From all your videos on asset protection, seems like the preferred structure by Anderson is WY LLC as a partnership, does that just go out the window with the living trust?
Not at all. The WY LLC is owned by the living trust.
@@ClintCoons so that's only preferred on the case that there's no living trust. But the ultimate preference is having that living trust own the LLC outright
@@gdrinot yes
Gratitude 👁
Always
Thank you for such a clear explanation. A question for you though: Would placing a bank account into a living trust be unnecessary if the person simply makes their child a beneficiary of the account? (Versus having the child be the successor trustee of the trust with the bank account inside the trust). It seems that both of these actions would avoid probate. Thanks again.
No but then what happens if your child does not survive you or you both pass away in a car accident? A beneficiary designation is easy but if something goes amiss then you could run into problems.
@@ClintCoons OK, that makes sense, thank you for the quick reply and thank you for creating these educational videos! I am a former high school physics teacher (just retired) and the free help is greatly appreciated!
Great video, thanks
Glad you liked it!
Excellent as always 👍 please keep it up 👍🙏
Thank you! Will do!
Great Video!!! Can you tell me who do you go to for the creation of the living trust? Is it the same attorney that creates the will or someone else?
We can assist. If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
👏🏿👏🏿👏🏿🗣THANK YOU SIR FOR THIS INFORMATION✊🏿💯💯
You bet
This video is so informative, thank you!
You're so welcome!