@@Legaleescorp i have another question If you can give me information pls, I sent by text a picture of my Grand Deed, to the lawyer who is going to prepare my Living Trusth, is it ok that or it could be to used for a fraud? I’m afraid
Normally, a bank account does not have a beneficiary listing. You could set up a POD (pay on death) type of an account (it goes by a number of names), and list a trust as the beneficiary. I am not sure the bank will let you do that. That would be up to the bank’s internal policy. Bank accounts should be “owned” by your living revocable trust and not simply be named as a beneficiary. My bank account certainly doesn’t even give me the option of naming a beneficiary.
If one Trust is voided by the probate court for Undue Influence & Lack Of Capacity, will that probate case be closed and then a separate probate case opened for the valid Trust?
I don’t generally do legal work these days (hopefully getting to be retired). My object in the UA-cam videos is not to get legal clients, but instead to impart info and sell more in depth educational packages.
What if the living irrevocable trust was never funded? The real estate was never put into the trust. What would happen with the personal property? Would the trust be invalid?
I am going through that now. The house is in my name. My mother still has access to her bank account . My mother takes care of the property tax. I dont care just so no one can take advantage of her.
Yes, you have to be the one to put your assets into the trust. Not only do you have to put assets into the trust when you set up the trust, you have to acquire new assets directly in the name of your trust. Did you get the ebook How to Use a Trust? Email me at info@legalees.com if you haven't gotten a copy yet.
Wouldn't it be easier if the lawyer also fund the trust (transfers title) into the trust. I didn't understand how you fund a trust until I watched several videos.
You have to keep “funding” the trust all through your life, and you need to got to the bank and change the account, etc. Lawyer won’t do that, you have to.
Great videos, Lee, thank you! One question: I get a small royalty from a publishing house each year, under my own name as author. How would I ensure that the continuing royalties after my death are paid to my trust's beneficiaries? (By copyright law, they're supposed to continue for 75 years after my death.) Thanks!
In certain situations that could be true, but in the case of a living revocable trust, land trust, and generally grantor trusts it is expected that the same person fills all the slots in a trust.
I am not taking clients. At 70 I am pretty much out of the client business, but I enjoy the educational aspects. I think I am a good teacher. I could refer you to attorneys I think do a pretty good job for what you will need, or I will just say I don’t know anyone that does that type of work.
Mmmmmm ......... Sooo - should i claim my lottery winnings without a trust ??? Also - all those people who claim their winning via a trust are getting ripped off ???? .....
The trust should have nothing to do with claiming your lottery winnings. If you die after you get the winnings and the winnings are in a living revocable trust, that would avoid having your heirs probate the winnings, which would be expensive. I would structure the winnings in an LLC, which is your best asset protection. The trust won’t give you any asset protection. If the winnings aren’t big, just claim them, get out of debt, help your family out of debt, if you want, and then have fun. You could always take a poor lawyer along with you - I’m available.
Your dissertation is generally correct - Your statement that "all assets have to be put into the trust" is a bit misleading, however. My point is that the trust must be "funded" with those assets which are to be protected from Probate. There may be other assets that the grantor may not wish to become trust property, and those of course could be transferred by a Will, or the grantor could conceivably die intestate.
UA-cam hasn't been popping these videos up in my landing page. I had to come looking even though I am subscribed
Love your sense of humor about lawyers! Enjoy your videos.
BEST LAWYER ON UA-cam!!! Thanks for your honesty. We got screwed by attorney !
Excellent attorney here, love this channel. Good sound advice to go by, now I just need to act. Thanks for the knowledge, so helpful.
Excellent info. Yeds our lawyer didn't say and we have to ask for everything.
Thank you so much for your warning!
If I put the house into a trust, how do I sell the house if I want to move somewhere else?
You do all legal movement through the trust
You just sell it. The house is under the trust’s name, and you are the trustee.
I love your videos!!!
Thanks for the information, how the real state property is transferred to the living Trust? For a Trust Transfer Deed? Or for a Quitclaim?
Use a quit claim deed to transfer into a living revocable trust. See my video on quit claims at ua-cam.com/video/EJXBxidY4qI/v-deo.html
@@Legaleescorp thanks for the information
@@Legaleescorp i have another question
If you can give me information pls,
I sent by text a picture of my Grand Deed, to the lawyer who is going to prepare my Living Trusth, is it ok that or it could be to used for a fraud? I’m afraid
Thank you for this.
Is it better to fund your back acct to trust vs just placing your acct beneficiary to the trust . What r the advantages and disadvantages
Normally, a bank account does not have a beneficiary listing. You could set up a POD (pay on death) type of an account (it goes by a number of names), and list a trust as the beneficiary. I am not sure the bank will let you do that. That would be up to the bank’s internal policy. Bank accounts should be “owned” by your living revocable trust and not simply be named as a beneficiary. My bank account certainly doesn’t even give me the option of naming a beneficiary.
If one Trust is voided by the probate court for Undue Influence & Lack Of Capacity, will that probate case be closed and then a separate probate case opened for the valid Trust?
I can’t answer that question. It depends upon what is before the court.
Great video!
We appreciate you!
Thank you!
Do you provide this service? Currently, living in California. Thank you
I don’t generally do legal work these days (hopefully getting to be retired). My object in the UA-cam videos is not to get legal clients, but instead to impart info and sell more in depth educational packages.
What if the living irrevocable trust was never funded? The real estate was never put into the trust. What would happen with the personal property? Would the trust be invalid?
The trust wouldn’t be invalid. It just doesn’t own anything. ANYTHING
@@Legaleescorpso the trust would not own any personal property because it was never funded?
I am going through that now. The house is in my name. My mother still has access to her bank account . My mother takes care of the property tax. I dont care just so no one can take advantage of her.
ok so lawler just setup the trust its our responsibility to put our assets in the trust name correct?
Yes, you have to be the one to put your assets into the trust. Not only do you have to put assets into the trust when you set up the trust, you have to acquire new assets directly in the name of your trust. Did you get the ebook How to Use a Trust? Email me at info@legalees.com if you haven't gotten a copy yet.
This is the first time I heard of , must acquire new assets in the trust .
@@g86jn1 it just means, when you buy a new house, you put it under the trust’s name.
Where do I buy the book what’s the name
Protecting Your Financial Future legalees.com/product/protecting-your-financial-future/
You forgot the golden rule of failure. The trustee
Wouldn't it be easier if the lawyer also fund the trust (transfers title) into the trust. I didn't understand how you fund a trust until I watched several videos.
You have to keep “funding” the trust all through your life, and you need to got to the bank and change the account, etc. Lawyer won’t do that, you have to.
Great videos, Lee, thank you! One question: I get a small royalty from a publishing house each year, under my own name as author. How would I ensure that the continuing royalties after my death are paid to my trust's beneficiaries? (By copyright law, they're supposed to continue for 75 years after my death.) Thanks!
Have them pay the royalty to your living revocable trust. Name Date Trustee are the three elements of the trust designation.
@@Legaleescorp are you taking on new clients 🤔
If the trustee and the beneficiary are the same person, isnt that a merger that ends the trust?
In certain situations that could be true, but in the case of a living revocable trust, land trust, and generally grantor trusts it is expected that the same person fills all the slots in a trust.
@@Legaleescorp thanks!
Hahaha great video!
Glad you enjoyed!
Sir., are you still taking on new clients?
I am not taking clients. At 70 I am pretty much out of the client business, but I enjoy the educational aspects. I think I am a good teacher. I could refer you to attorneys I think do a pretty good job for what you will need, or I will just say I don’t know anyone that does that type of work.
Your pretty funny 😂
Mmmmmm ......... Sooo - should i claim my lottery winnings without a trust ??? Also - all those people who claim their winning via a trust are getting ripped off ???? .....
The trust should have nothing to do with claiming your lottery winnings. If you die after you get the winnings and the winnings are in a living revocable trust, that would avoid having your heirs probate the winnings, which would be expensive. I would structure the winnings in an LLC, which is your best asset protection. The trust won’t give you any asset protection. If the winnings aren’t big, just claim them, get out of debt, help your family out of debt, if you want, and then have fun. You could always take a poor lawyer along with you - I’m available.
😂😂😂 So true, lmao! 🎯😭😂💀
Your dissertation is generally correct - Your statement that "all assets have to be put into the trust" is a bit misleading, however. My point is that the trust must be "funded" with those assets which are to be protected from Probate. There may be other assets that the grantor may not wish to become trust property, and those of course could be transferred by a Will, or the grantor could conceivably die intestate.
🤣🤣🤣 average liar.. I mean lawyer
🤣
Took way too long to explain why trusts don't work. Good information; very poor delivery.
Do another UA-cam 🤣
this was a weird video.
Great video!