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1. Vehicle 2. Annuity (Ira,401k, etc.) 3. Life insurance

@integr8er66

19 күн бұрын

Nope, 401K needs to name the trust as beneficiary because all of the 401Ks I see now require an SSN for a beneficiary and they have no right to keep my children's SSN in their records which will certainly be hacked at some point. So if I name my trust then I don't put my children in harms way. Their SSN is not mine to go handing out to people

@larrykruck8047

16 күн бұрын

@@integr8er66 now your kids will not get 10 years to cash out, as a trust must cash them out in 5 years whereas a person gets 10 years.

@mfamily3301

13 күн бұрын

@@integr8er66 same here not putting my kids ss ou there

@marshallwise1763

6 күн бұрын

What about the living benefits from annuities and life insurance if you become incapacitated??

@hornbaker

4 күн бұрын

Make the trust the beneficiary so you specify distributions in one place. At death, your trustee can choose to a) cash them out (taxable event for pre-tax funds) and manage the cash under the trust instructions (such as delaying distribution), or b) step out of the middle and direct the institution to payout directly to the beneficiaries, enabling them to receive it in an Inherited IRA and withdraw it over 10 years. Only reason not to do this is if your estate would exceed the tax exempt limits.

Make copies of your house keys or properties and give it to your beneficiaries that you picked. Let them take everything that belongs to your family when you and your spouse passed away. They don't need to know what you owned, it would be less headaches and will saves the beneficiaries tons of money. You can still have a living trust for the house be smart you worked hard for your stuff, keep it to your family. That is my own opinion and good luck.

@integr8er66

19 күн бұрын

Yep, Guns especially. The Govt doesn't need to know what you have, and they can't trace personal items. Anything with a public record though is a different story

@cmf6081

18 күн бұрын

You have obviously never dealt with a Living Trust. It is the responsibility of the Successor Trustee to inventory all assets and use the assets to pay off all debts owed BEFORE distributing $$ to beneficiaries as designated in the Trust. The US government requires all $$ given to beneficiaries by the Trust be reported the IRS. Yes. Each beneficiary is given a separate Tax form for reporting on their personal taxes. You are giving bad and illegal advice. Any beneficiaries doing what you advised could be charged with Breaking and Entering, burglary and grand theft (3 felonies) and have to serve years in prison. Shame on you!

@alangalermo

17 күн бұрын

@@cmf6081 You need to read what I have said, "MY OWN OPINION" So who is more ashamed. You are Ha ha ha ha

@DimndSLM

5 күн бұрын

@@alangalermoyes! That.🥴

@integr8er66

5 күн бұрын

@@cmf6081 While it may not be legal it would be near impossible to prove. My trust does not have any record of my personal untitled property. Cars boats homes real estate outstanding, everything else you would have to prove wasn't given to me by the decedent before death.

Personally… on vehicles, I change the titles to add a T.O.D.’s (transfer on death). Simple & does not require signature of beneficiary. 😅

Can’t emphasize enough how important this is.

In Arizona, you can file get a form from the DMV that immediately transfers the vehicle to your beneficiary upon your death. Attach that form to the title and keep it in your safe deposit box.

@chrishaddad5362

23 күн бұрын

Arizona really is a great state.

@loydacoulombe1397

22 күн бұрын

I had no idea.. Thank you

@robinteters5168

22 күн бұрын

You can in Oklahoma too.

@katsiduzynski488

21 күн бұрын

Unfortunately few banks have safe deposit boxes, you're better off having a fireproof strong box on your property in an easily accessible place.

Clint, this was absolutely stellar advice. And you’re right! Few financial advisors are talking about this. Thank You!!!

Really great points! Very useful to know! Thank you so much for your valuable education!!!

Things to keep outside the trust -- depends if you have a spouse or adult children or minor grandchildren 1) titled vehicles, eg autos, boats, etc, passes on death to beneficiary with death certificate outside of probate; 2, 3, 4) annuity types of accounts -- eg IRAs, 401ks, normal annuities, with trust as beneficiary or beneficiary of IRAs & 401ks. Look at specific provisions with a tax advisor!! 5) life insurance -- passes outside of probate directly to the beneficiaries;

Your spot on with the annuity and vehicles great information!

@acamposjr06

20 күн бұрын

*you’re

I Just found your KZread channel with searching for asset protection. The First one I saw before this, was one from 3 years ago, with putting your Vehicle in a Trust to protect it from Judgments, etc.

We live in NJ probate is very fast and efficient here some estate planning lawyers offer free dinners and fearmonger probate and taxes. After more research, we found out the opposite. This was after spending $2500 for a living trust that was complicated 30 pages. The attorney's name/firm was on almost every page. So we opted for a simple "The disclaimer trust in my last will and testament"

@mlamesq8

23 күн бұрын

FYI New Jersey no longer has estate taxes. Just figure out what to do with your federal estate tax exposure. Oh, and you’re welcome, now you don’t have to move to Florida.

Very good advice who knew

Great advice!!

Naming your trust as beneficiary of your IRA could create an immediate taxable event. Better to name natural persons to preserve option to extend tax deferred status of the assets.

@integr8er66

19 күн бұрын

Ya but the damn Investment companies require an SSN to name a beneficiary, and they have no right to ask, and Heck my kids SSN is not mine to hand out, so only option I found was to name the trust as beneficiary

Great advice, especially since my wife and I are having a living Trust set up on our behalfs.

I’m saving this post! Great info! ❤

@ClintCoons

11 күн бұрын

Thanks

Probate can let your beneficiaries get the free stepped up value for real estate as of d/o/d and avoid tons of capital gains taxes. Know your state. There are no estate taxes in TN. The costs attendant to preparing and funding living trusts can be far more expensive than the cost of probate. Figure out what you are trying to accomplish. A trust is not always the most advantageous method of transferring wealth.

Thank you great advice

Our X-attorney had us chasing our tails when we tried to put a new car in our living trust at the dealership who was like what in the what?!? We just met with a new local atty last week who said you don't do that and gave the same reasons you did. Shelled out so much $$ on wrong and bad advise from our X-lawwyer and honestly have heard so much wrong and bad advise from other well credentialed experts I trust no one now no matter what their credentials or how confident they are and its exhausting.

@ClintCoons

27 күн бұрын

That is frustrating for sure.

@angeldee7287

23 күн бұрын

Exactly. Do your own research and talk with different attys, financial advisors, and investors prior to setting up that living trust. This video is informative, thank you.

@YeshuaKingMessiah

15 күн бұрын

Yeahhhhh car salesmen are extremely unsophisticated Aka ignorant They know what they need to get that car sold and with as much extra they can get put into it as possible That’s it Outside status quo--total blank stares is all ur getting

Good video and advice; However, I suspect the number 1 thing is to know the laws in your state

@DimndSLM

5 күн бұрын

Wise advice

The car was a key takeaway for me. Thank you for the advice.

@ClintCoons

27 күн бұрын

Glad it was helpful!

It's no joke to us.... we have mules, and a trust! Nice video, thank you. 🎉

@kamakaziozzie3038

20 күн бұрын

That’s great! I’d love to have mule or a horse.

@marlenygonzalez6286

18 күн бұрын

@@kamakaziozzie3038what about my ( chihuahua dog)😂😂😂😂

Thank you!

Thanks!

@ClintCoons

Ай бұрын

Thank you for the super thanks!

What about when you have assets outside of the country? You could make a video about it. Thanks

@ClintCoons

Ай бұрын

Noted

@co5626

27 күн бұрын

Agree; I am in the same situation and would benefit from some guidance on this topic.

@PoliticalRed

24 күн бұрын

Was thinking the same thing!

In NC my mom’s car was NOT in the trust and it had to go through probate to get it into my name. What a pain.

@mistylarosa9821

23 күн бұрын

The car title can name a beneficiary

@Seasidesalesfl123

22 күн бұрын

In Florida if beneficiary of the vehicle is not spouse or children vehicle has to go thru probate. Just went thru it for a friend’s estate.

@carolinenachtrab4357

21 күн бұрын

​@mistylarosa9821 Yup - their name at TOD (TIME OF DEATH), should be on the title

@integr8er66

19 күн бұрын

​@@carolinenachtrab4357TOD means Transfer on death, not time of death

@YeshuaKingMessiah

15 күн бұрын

I think NY too I was widow n it was immediate becuz of that My car will be junk tho, no one want it! My late husband’s was too. I gave it to the shop who had been fixing it HA. One more item off my list so it was worth it-no driving age kids at the time or they mayyyyy have wanted it tho. So then I woulda “sold it” to them for $50 after titling it in my name. Still only wait 6wks compared to 2-3 yrs probate.

Thank you for the info 🙏 My wife and I own three properties and finally realized we probably need a Trust🙄 This was a good primer before we go to a lawyer

@ClintCoons

19 күн бұрын

If you would like a FREE 30-minute consultation to discuss the living trust, you can request one here - aba.link/clintss

I live in Washington; when my dad and years later my brother died, their vehicles were easily transferred to others, relatives or not

What about insurance for your home? Is it an issue to obtain as it is now owned by the trust?

Do not put your bank accounts in the Living Trust. You could easily assign beneficiaries. There are also some complications with using trust for bank accounts. Some banks treat a trust as a "business entity", and you will get less interest. There is also no need to put timeshares in a trust if they are not already in there. It is a hassle and costs money.

@integr8er66

19 күн бұрын

My bank accts are in my trust, its not a problem at all, I just have to sign TTEE, to show I am the trustee. I have CDs in my trust as well, no problem there. Why would you let something as large as you bank acct go through probate?

@jonathanthink5830

18 күн бұрын

@@integr8er66 I believe the bank account beneficiaries have higher priority than the will. It is extremely important to assign beneficiaries in your bank accounts. I don't think it is a "problem" to use trust for bank accounts. It is just a hassle and unnecessary.

@hornbaker

4 күн бұрын

I’ve got a bunch of different accounts - why would I want to have to update all of them separately? Easier for the trust to own the accounts and then say in one place “12% goes to Fred, 17% goes to Sally, etc.” If you had only one beneficiary, you *could* add direct beneficiaries to all your accounts, home, vehicles - if your state allows this (not all do for cars and homes). But anything that can’t have a TOD specified would be forced through probate.

I don’t have to worry about that living trust stuff, I started with nothing and I have most of it left so I don’t have to bother with some of these legal details.

@escalade8759

27 күн бұрын

🤣🤣🤣

Newly divorced (42yrs) - trying to learn. So what’s left? Ur primary house? What about a rent house?Regular bank accts? I have POD on all cash accts. What “should” be included? It a trust cheaper than probate & inheritance property values?

@ClintCoons

19 күн бұрын

Your home, rentals (these should go into an LLC, and the LLC is held by your living trust), personal bank accounts, brokerage accounts, and business interests are the top that come to mind.

@WaitSpecific

19 күн бұрын

@@ClintCoons thanks !

love it, great info!

@anjiviolin

Ай бұрын

Agreed! 😊

Everything my mother owns is in her living trust. Everything goes to me.

California has a mandatory fee (statutory fee that goes to lawyers) on assets that go to probate. A vehicle will be charged at 4% of the value.

@likethesky

23 күн бұрын

Not if it’s less than ~ $180k in value. Sure, if you own a $1 million Lamborghini, you might want to put it in a trust, but if your cars, household belongings, etc are less than $180k (it adjusts up for inflation in California each year), you don’t need to put them in your trust. Real estate, yes for sure!

@MarkSpohr

23 күн бұрын

@@likethesky Thank you

BMV has transfer upon death forms.

But what about Trust Doesn't Rust. Sometimes you definitely want the vehicle to go to Michael Knight.

The video I heard stopped at annuities.

Guess what! If you are listed secondary on a retirement account, you have to go through probate, if the primary beneficiary is deceased.

I've heard some people say not to put your checking account into a living trust, but I've never heard the reasoning. Any comment on this?

@lizettemima

24 күн бұрын

I think it may be because you can list a beneficiary on your bank account.

@Starfish2145

23 күн бұрын

I wouldn’t ….just name a beneficiary or executor

@anncochenour9920

20 күн бұрын

Have a separate bank account in the name of the trust. If your house is in the trust and it’s sold the proceeds will be payable to the trust

My aunt from Los Angeles who is single and has no children for some reason forgot to fund the trust. The primary asset would be her house. We were advised that the only recourse is probate. she has 2 living sisters still but the rest are neices,nephews and grandchildren. wh

@Starfish2145

23 күн бұрын

I am not an attorney, but if her house is paid off she should be able to quit claim the house into her trust. She just needs to go to a title company.

@kathyholt3516

23 күн бұрын

If you have a retirement & brokerage account & want to designate to a charity along with your car to charity, should these be put into a revocable living trust?

@davidw2739

22 күн бұрын

@@kathyholt3516I want to know this too. I have charities that I want to continue to support after my death.

@windyshores

22 күн бұрын

​@@Starfish2145 you are correct

I see a lot of people talking LLCs and aren’t there massive new regulations on LLCs? I’d think you’re trading one paper chase for another.

Most stuff has beneficiary directions. Investments stocks, retirements, bank accounts. Since they already have those, they don’t go into trust? Does that just leave your house in a trust?,

@Mtsayhello

21 күн бұрын

Change title to join tenancy will do

How do you set up a trust if both parents died but prefers the minor children to be raised with relatives overseas instead? The successor trustee is not the guardian. Is that possible?

@ClintCoons

Ай бұрын

Great question, I recommend you request a free 45-minute consultation so we can provide the best answer for your unique situation. aba.link/zev

New sub thx

The title says 5 assets that should not be included. But you only named three.

@xavierkoolat6926

19 күн бұрын

I think it's as follows: 1. 0:32 Vehicles 2. 3:01 Annuities, 3. . . . IRAs, & 4. . . . 401(k) 5. 5:48 Life Insurance Annuities, IRAs, & 401(k) are from 3:01 to 5:48 .

Can a LLC be the beneficiary of an insurance and other assets?

@ClintCoons

19 күн бұрын

Yes if the issuer is willing to name it.

Can a limited g trust be changed later in life?

@likethesky

23 күн бұрын

A living trust can be modified at any time by the original grantors (you, who set it up), that’s because it’s a revocable (living) trust. So yes, it can change later in life or at anytime you need it to if your circumstances have changed. You should always get an attorney to change it however, it’s not really a DIY kind of thing.

Would you put a vehicle in a trust in order to prevent Capital Gain and Inheritance Tax? Or Or would it be better to put these into a Family LLC President proposed 2025 Inheritance tax rate on top of Capital Gains which is nearly 40% and that's not including state death tax either.

@LazyGrayF0x

24 күн бұрын

Sign the title and put it in the safe but don’t date it or list odometer. Your survivor can claim it as a gift and register in own name, unless you’re not talking normal car. If it’s an appreciating exotic collectible, then I would put it in the trust.

@jannibal9273

23 күн бұрын

Oh come on. Do you know what the amount of money is that can be passed in an Estate free of Inheritance Tax? 99.9% of all Americans will NEVER pay a Federal Inheritance Tax because we don't have Estates worth millions of dollars. If you live in a state that has an inheritance tax, check your state laws. Generally, they are in sync with Federal law, but not always.

@robertcussen8039

23 күн бұрын

@@jannibal9273 That's why the President working on double taxing it in 2025. Inheritance tax and Capital Gains with both applying to anything left outside a trust, supposedly.

@stevesugulas9941

22 күн бұрын

@@LazyGrayF0x If I may, signature dies on title same moment said person passes over.

@LazyGrayF0x

22 күн бұрын

@@stevesugulas9941 its where not dated but signed title is useful.

What about placing IRAs in trusts so that nursing homes do not have access to these funds? We will be living off of SS and annuities. We will not need the money in our IRAs and have about $800k in Roth and $1.4M in traditional IRAs. Our parents are or were in nursing homes before their deaths. I would hate for a nursing home to rifle through our assets if we end up in a nursing home. My wife and I are 66 & 67 respectively.

@ClintCoons

19 күн бұрын

Are you looking to move assets to qualify for Medicaid?

@AscDrew

17 күн бұрын

@@ClintCoonssounds like it. What’s your suggestion there?

@hornbaker

4 күн бұрын

Generally, your assets need to be in an irrevocable trust (not a living trust) for 5 years to shield them from Medicaid look-back. I don’t believe an irrevocable trust can own an IRA, so you may need to cash it out to move the funds (a taxable event, usually). Also, know that if assets like IRA or annuity are in one spouse’s name and they require long-term care / Medicaid, the other spouse is exposed because their name is not on the account. You need to balance your retirement accounts to prevent this.

Your instructions about motor vehicle transfer are NOT accurate for all states. For instance, In New York only 1 vehicle can be transferred to an immediate relative. In addition, vehicles that are owned jointly can be passed to the survivor. Unfortunately, the rest will go through probate, unless they are in a trust. However, that is not ideal either, as it will be difficult, or very expensive to obtain insurance in NYS.

A major “hole” in virtually all videos about “hiding” assets from litigants in a dispute. All they need to do is ask and you MUST reveal all your assets,

@joesmith6357

23 күн бұрын

Lie like biden

What about an irrevocable trust?

@dianecarlson2918

16 күн бұрын

NO. You can never make changes to an irrevocable trust

Where do you state who should inherit your car? In your will? Can anyone with the death certificate transfer title without any other documentation?

@raiden031

22 күн бұрын

I had to pay $20 to MVA (in MD) to put a beneficiary on my vehicle

@ClintCoons

19 күн бұрын

Yes or in your living trust.

How about a house? How does that work?

@ClintCoons

19 күн бұрын

Your house will be held in your living trust.

smart

Hi, thank you for doing this video, how can I get in touch with you, please?

@ClintCoons

11 күн бұрын

If you would like a FREE 30-minute consultation, you can request one here - aba.link/clintss

Should art be included in a trust?

@ClintCoons

Ай бұрын

Yes but art is personal property and does not require changing a title.

@teresarodriguez4848

23 күн бұрын

I was told all liquid assets automatically pour over into the trust. Bank accounts insurance 401 all have a beneficiary listed.

How will this all work out in California under Newsome?

@ClintCoons

11 күн бұрын

No idea. He will probably confiscate everything you have to redistribute. 🙄

Unfortunately, nothing was mentioned about a home or vacation property

@ClintCoons

19 күн бұрын

Those go in your living trust

But if you have a Living Trust you don't have to go a Probate anyway,and why did you mentioned it in this video that if a person pass away the beneficiaries have to trough Probate sir? Pls reply

@ClintCoons

19 күн бұрын

That is correct.

some people use a trust for vehicles to prevent others from finessing the car from your possession (getting a duplicate title under their name, etc). you still advise against it?

@ClintCoons

Ай бұрын

Not at all. Using a personal property trust for vehicles is a great way to address what you describe.

Why not just set 401k's with beneficiary forms and leave out of trust all together?

@pmroveda

24 күн бұрын

That’s what I did

@wellington422

23 күн бұрын

Put a TOD (transfer on death) on your non-IRA accounts. Name your beneficiaries. This will avoid probate. Check rules in your state.❤

@dmustakasjr

23 күн бұрын

One possible reason is that the plans and terms of your trust won’t be enforced. If you wanted to transfer an account immediately on death, that’s fine. If you had guardians or other considerations say for small children you might want the trust and those trustees to manage the estate in a very specific way.

!(: THANKS ;)!

Why make the Trust the beneficiary of the 401(k)? If congress reduces the unified credit back to $1mil, you have just ballooned the Trust and may incur estate tax. The beneficiaries of the 401(k) should be the Trust beneficiaries, bypassing the Trust.

@ClintCoons

11 күн бұрын

Yes, but if you want to control the disposition of the assets to your children, you should consider a trust. If you are okay with an outright distribution, you can name them individually.

What happens if you have a collection of antique vehicles?

@ClintCoons

26 күн бұрын

I would place them in an LLC and put the LLC into the trust.

@nancykramer7700

25 күн бұрын

@@ClintCoons Thanks for the info. Are there any tax consequences from puting the cars in an LLC? What state are you in?

@evenbiggeral5089

25 күн бұрын

@@nancykramer7700 when this happened to me, I did a Quit Claim to avoid tax consequences.

❤

fomr this sounds like only real estate would go into a trust? maybe stocks outside of 401k and roth otherwise everything he listed wouldnt go into it?

@ClintCoons

27 күн бұрын

Your real estate should be in an LLC and the LLC should be in the trust. Your residence should be in the name of your trust. Bank accounts etc, out side of retirement plans should be in the name of your trust.

Can you make your trust the beneficiary of your pension?

@ClintCoons

19 күн бұрын

Yes if you have the proper pension provisions in your trust.

Not everything is pod

@asrc2005

24 күн бұрын

Real Estate can be TOD. Transfer on Death. An easy way to avoid probate on RE.

@likethesky

23 күн бұрын

@@asrc2005depends on the state. Some do not allow TOD (transfer on death), and some might recommend you list as joint ownership with rights of survivorship (which means no step up in basis). As a result I highly recommend you discuss with a good CPA or tax expert as well as attorney. You want to be sure you’re preserving the step up in basis to potentially avoid a lot of capital gains taxes for your heirs.

Disagree on not naming your RLT as the beneficiary of your life insurance.

wrong, wrong, wrong, do not make a trust the beneficiaries of your IRA, 401K, and annuity as a trust must cash them out in 5 years whereas a person gets 10 years.

@ClintCoons

11 күн бұрын

You are correct regarding the distribution rules, but I am thinking along the lines of spendthrift protections rather than outright distributions to children who may be involved in a lawsuit, divorce, etc., and the funds could be lost.

I'll worry about having a trust when I win the lottery.

This video contradicts some of the others! You specifically spoke about putting the assets in the living trust. Now your saying they can’t find out who! That’s the purpose! ! And also Trust don’t go to jail! This has me questioning a few things. Spread fear to the people when people have been getting away since the beginning of times with practically murder for having a trust!

@acarr5972

Ай бұрын

No, he didn’t. He said to put them in a personal trust. He did not use the word “living trust“. Operating a vehicle is prone to get you sued. You don’t want that in a living trust because then they can take everything inside the trust. Makes sense? So you put it in a separate trust by itself.

real estate, especially your Homestead, should not be placed into a living trust, with few exceptions. ?

@ClintCoons

5 күн бұрын

You can provided you make the proper reservations in the transfer deed.

Ok Clint???? So what do i put in a trust???? After all that, I have a half pencil, 2 socks, 3 underwears and a rock? Can you make a video explaining then what a trust is for???

@ClintCoons

19 күн бұрын

The trust will hold your real estate and bank accounts and will serve as the beneficiary of assets like life insurance, etc. The purpose of the trust is to avoid probate.

I’m sorry I don’t agree with any of this based on my own experience with trusts

I own nothing. My foreign trust does. I’m taking about a foreign trust NOT apart of the US corporation.

Title = 5 things. Video = 3 things?

Can I put in a WILL someone that will have the POWER of attorney and form a trust for me upon death? The instructions of the trust will be in the will.

@ClintCoons

19 күн бұрын

No, because a POA only operates while you are alive. When you pass the POA becomes null and void.

Do your homework by asking your phone what the difference is between REVOCABLE and Irrevocable trusts!! YOU can change a revocable but this guy is suggesting Irrevocable....you dont have control over this type BEWARE

@ClintCoons

19 күн бұрын

I am not suggesting irrevocable. What made you think I was not referring to a revocable living trust? Did I misspeak somewhere in the video?

Make it non-revocable. My evil brother took an attorney to my mother’s house. She had dementia. The lawyer did not care. My brother took everything. Everything.

@camiller4916

22 күн бұрын

That is financial elder abuse. Can you a Conservatorship Petition? You should seek legal advice because it’s against the law to abuse elders, esp. in cases of incapacity. You should file a lawsuit against brother immediately.

@Angiehere-1

22 күн бұрын

@@camiller4916 I’m not going to waste my retirement funds going after him. My mother passed away last year. I did not need anything from her but my disabled sister was supposed to get her house. That did not happen.

WRONG on the vehicle. You cannot transfer the title at the dmv. They ask for the trust, will. Just had this happen.They will NOT accept the death certificate. Who is this guy?

@ClintCoons

19 күн бұрын

Which state? Seems odd. How can they verify the person is dead without a death certificate.

IRAs and 401Ks are NOT annuities. Come on, dude. Do better 🙄

@canoone1975

24 күн бұрын

That’s not what he said. He said “like” 401(k)s or IRAs as examples of investment types not to be held in a Living Trust.

@wandiehazan

23 күн бұрын

3:02 Replay, he didn't say they were the same. He said they were "Like" annuities in that should NOT be in a Living Trust because of there special nature in re probate