The thing to me is, if you invest and have other income outside of dividends then you will be able to live off dividends without selling. Which means you can pass that on to your kids which will give them a leg up in life. $52k dividends received in 2022.

@bernisejedeon5888

11 күн бұрын

I agree! That's why it is advisable that you have to invest while you still have a regular job or earning a regular income, and do it constantly. You still need to have something that will keep you going even if you're investing. Good financial planning and money allocation is the key.

@belobelonce35

11 күн бұрын

The thing to me is, if you invest and have other income outside of dividends then you will be able to live off dividends without selling. Which means you can pass that on to your kids which will give them a leg up in life. $52k dividends received in 2022.

@fresnaygermain8180

11 күн бұрын

I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured some money in value stocks and digital asset, i accrued over $80K in dividends last year

@belobelonce35

11 күн бұрын

Sharon Marissa Wolfe is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

@yolanderiche7476

11 күн бұрын

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

Two minutes in and this has the feel of one of those extended infomercials.

11:16 Wow, “if you get sober, you unlock this million-dollar inheritance” is great motivation and a chance for a parent to help their troubled kid from beyond the grave

My dad recently passed away and had a trust but also had a few things not in the trust. The trust defiantly makes things easier than probate for anyone one the fence.

Be careful who you get as a trustee. My parents got a family friend from church who is a lawyer (and supposedly a righteous man) to do their trust. I was the trustee at first, but I found out later that this got changed to the lawyer. The document had my father’s signature which looked like chicken scratch and meandered down the page before falling off. He was in no condition to sign. Looking back, my mother had onset of dementia by then, but there was her signature as well. The effect? As trustee, he charged between $4000-5000 per month to write 4-5 checks “managing” their estate. He sold their house, and I’m still not sure where all that money went. And so for what’s left, it would cost more in lawyer fees to go after him than worth it. And this was just one of more than 20 clients he had on the books every month. How can he answer to God that he was fair in his business dealings?

@fairydust1615

9 күн бұрын

You should report them to the state bar of your respective state! The state bar may want to look intimidated his books.

@MrNanah38

9 күн бұрын

You believe in God but he doesn't, that's why you got tricked. Sorry.

@kennethabbott3856

8 күн бұрын

To answer your question about him answering to God: he, obviously, doesn't believe there is one.

@tyblock2k

4 күн бұрын

I'm so sorry about your situation. I really hope that you get everything you lost back. No one should have to go through that.

@neckbone3943

15 сағат бұрын

Kind of like the Joel Osteens of the world.

This video was very helpful. I had a revocable living trust drawn up after my father left me a house and some money. I was told I should get one, but no one (friends, family, etc.) really gave me a good explanation as to why I needed to get one. So I hired a large well-known law firm in a major city. I thought they would explain it all to me because my knowledge was really zero. I walked out after several visits with them still not really understanding why it was important. I was clueless. I am divorced with no kids, and now I am retired. I just accepted that I did what was necessary and after I'm dead it will all fall out the way it is going to. Basically everything is going to a world charity. The Trust is pretty simple. I have a fiduciary who will step in should I become incapacitated or die. I also asked them to be the executor. But what I learned from you is how the Trust is not recorded anywhere (I wondered about that), though my bank and investment people have noted that I have a Trust. My Trustee has retired, so it looks like I need to get that changed in the Trust. One question I have before I do that is "Should I not have my fiduciary also be the executor? Should I get someone else to do it like maybe an attorney?" Not put all my eggs into one basket.

@llee2096

15 сағат бұрын

Leave it all to me... You can transfer most of it now... You can trust me more then any of these lawyers 😊 😊

Put real estate in a trust. Use Transfer on Death or Pay on Death accounts at brokerages and banks. Use beneficiaries on IRA’s and 401k accounts. If your family situation includes divorce, step children, or other complex family situations then everything needs to be in a trust.

@audreyl704

24 күн бұрын

thanks

@crazycdn8327

23 күн бұрын

Even better put real estate in an anonymous LLC from Wyoming or Nevada which owns the LLC created in the state the asset resides. No one can easily get your name. The trust can then give power over the anonymous LLC.

@rohitkurup6191

19 күн бұрын

​@@crazycdn8327 you actually need a TX series LLCs as you don't have to file each year for each LLC. You get the same annonimity and charging order protections and save a lot on yearly filing costs. Other attorneys live WY or NV LLCs because they can charge you for the yearly filing fees. I have this set up in my Trust for all my LT, STRs and Primary real estate.

This was very well done and informative. Going through estate planning myself, I looked into another estate planning lawyer and his group on KZread. Found out his group wanted $5k for living trust + required $70 per month for their “deluxe” plan for free legal advice you won’t need. Sorry that’s what I call fleecing a client without actually helping the client. Found a local lawyer who’d do my living trust plus couple of LLC for a little over $3k. The other would have charged me $10k for living trust and couple of LLCs. It’s a lot of legal jargon you have to familiarize yourself with, but it’s not rocket science. Don’t get taken advantage of setting up your estate plan by these not so ethical lawyers on KZread.

@nysteelhorse

29 күн бұрын

Wish I had seen comments like this before putting out that kind of money. (I did it last year.) And they're are a few strategies they'll use that my own regular attorney wasn't aware of. Now I have to be sure to take advantage of every service they offer as often as I can!

@wendywhite2642

29 күн бұрын

Thanks

@skeezix8156

18 күн бұрын

I over here sweating it because this administration has a tax proposal on the table that would do away with trusts.

I love the simple summary on this one 9:30 with the easy approach to estate planning if you don't have a plan the state has a plan for you and nobody wants that plan lol

Enjoyed the video. Thanks for sharing

Go to Law Depot and pay $35.00 fill in the blanks and you will have an efficient legal trust in place.

Great information, as always!!

Thank you both for your insights into this aspect of life. Critical stuff for sure.

I have worked with these guys to set up my trust. Straight forward, easy to understand, and my attorney and I had good communication throughout. 👍

Great advice. Thanks.

I have been recommending and promoting trusts (personal / business) in lieu of prenups for decades.

@charlesschenck2354

19 күн бұрын

Can you give me more details how a trust would work in a prenup situation?

@p9a9r21

19 күн бұрын

@@charlesschenck2354 I'm not an attorney so you should consult a competent trust council for the particulars of your situation. That being said I can talk about how just after I got engaged to my second wife I spoke to a lawyer about protecting my assets in the event my proposed 2nd marriage didn't work. We discussed prenuptial agreements in some detail. But my lawyers view that given the courts in our then domicile were having extensive litigation over prenups he considered them not the best option. However since I had accumulated significant financial and real property assets and had no outstanding debts/ mortgages a series of trusts and LLCs would provide a much better legal structure. I didn't have any children so my mother, sister brother and my nieces and nephews became successor beneficiaries to various trusts. I didn't have to discuss these financial arrangements with my then fiance in detail but I did let her know I was putting things in order before our marriage. As a precaution my lawyer set up a separate trust for my soon to be second wife with $50k in cash and a paid up life insurance policy. My lawyer wanted to be very sure if he had to disclose these arrangements to a court later my wife wouldn't appear to have been left out and had her own trust. When my second wife filed for divorce her attorney was certain I had assets that could be included in the marital estate. My attorney described the surprise on her lawyer's (a female) when there was very little marital property to divide. Even the judge in the divorce proceeding was skeptical about the small amount of marital property given my 1040s.

@michaelblazin4093

14 күн бұрын

A living trust is completely accessible to your spouse. It provides no litigation protection or direction. Maybe the poster is talking about irrevocable trusts. They might work, but any use of community assets to support the irrevocable trust leaves vulnerable points. Irrevocable trusts with the grantor as the beneficiary have many, many places to screw up.

Thank you for providing a simple practical solution.

Yessss 100%! Love this video.❤🎉

Thank you!

alot of great information!

Thanks for the great info.

Thank you, Gentlemen! Much appreciated!

Thank you so much!

Who usually ends up as a trustee? Is it a family member or a lawyer. Do they charge to administer this and what are the fees like ?

P.S. Your video editor is amazing. Incredible quality work!

i just need somebody to pick up my tent off main st. !!!

Great video .

Thank you for this video

Out standing info

Thank you 👍👍

This was so useful, thank you!

*Irrevocable* Initial Trustee can live within the TRUST. Own the vehicle as a Copyright; therefore, no need for an attorney.

THANKS 🙏 $$$ 🙏 THANKS

Yes do one on taxes

Need to learn.

Great informative information and video. Do you guys handle international clients etc. ?

how much does it cost for having a living trust and what are the recurring costs

This is so convincing that I wanna make a trust at 26 (time of writing) even though I got no kids nor family yet

Sounded more like a sales pitch than it was really useful to us. I’d have preferred more ideas and less, “general”, options that, “are possible”. I would’ve preferred to hear solid recommendations or common recommendations that come about when looking into each of the provisions you talked about. I think smart, core, ideas about best tactics would’ve been more useful. Everyone already knows the stuff you guys said. It was just more generalizations. Tactics and how it actually works would’ve been more useful. Like why or how does it keep the state and fed from taking things from you? Cause the bottom line is, and we’re all seeing this as Americans, legal documents, like the constitution for example, aren’t even protected. We live in a banana republic with criminal activist judges and their criminal public employee minions making it all up as they go.

@brucetopey8071

28 күн бұрын

Also the failed attempts at comedy, & the girly inappropriate laughter was not only distracting, but annoying.

@Madison7807

13 күн бұрын

A sales pitch with repeated generalities...

I'm signing up

$2000 is not affordable for someone on Social Security Income. When SSI is involved, the recipient is not allowed to save more than $2000. That greatly limits what one can save money for.

@lori-annefay4138

Күн бұрын

I concur, so in this case I'm thinking a do it yourself might be better than nothing. Notarized including the power of attorney to kick in if you are incapacitated. And directives filed with your doctor regarding your health. I mean what else can you do?

What if you leave everything to one person, is a will enough, do you still need to go through probate/to court if there aren't multiple people to fight over? Thanks

Having worked at a bank and dealt with trusts at a very basic level i can honestly say they are a nightmare because everything is dictated by the trust so if its not specific and well done then it makes getting everything in order an absolute nightmare.

Do you have to fold a trust in the state of FL?

My grandmother had a trust. My aunt almost self appointed herself the trustee. She was in a position of power. You can call it elder abuse. When my grandmother was 96, my aunt had her sign over her Florida property to her in front of a notary. This was against my grandmothers wishes. My grandma, who had slight dementia toward the end, was a little paranoid that people wanted her money. When my grandmother died, my aunt took the property, immediately sold it. The trust didn't help anything. We could have sued but didn't.

@Funtimes900

29 күн бұрын

What would you suggest to help fix this ?

@samgibson684

28 күн бұрын

Sue

@audreyl704

24 күн бұрын

OK

@davidcopperfieldsny

21 күн бұрын

@@samgibson684 legal fees and just simply the terrible emotional stress involved when suing oftentimes makes it unfeasible.

@griver007able

20 күн бұрын

Let God or fate take care of your aunt.

Interesting topic of the Trusts and Estates. Please make a Video which compares Trust Fund Taxes with Individual Taxes and at least explain at which level of assets it is financially beneficial to set up the Trust Fund (and describe the differences for each type of Trust and reasons to set it up and what goals does each type of Trust helps achieving). Please also outline which typical assets should be going into which types of Trusts and which assets should never be put in the Trust from a Tax Perspective. Thank you in advance.

@janellewiseman345

22 күн бұрын

Anna this information would help me to understand

Brain on Brain!

Pay nobody to “manage it”

@bluesoverlord

10 күн бұрын

This is true, 1000%!

10 seconds in and I already need a shower.

In Hawaii, should an attorney that does estate planning better to use or you?

@dennykeaton9701

Ай бұрын

Yes

Are trusts only available in the US?

Be careful to ensure the lawyer does not construct the plan that requires you to keep going back to maintain the plan and they’ll want $1000 per repeat visit. Even names that need to remove revocable from them… Just value bulling and siphoning off your money!

@Oldplace-xc7pb

Ай бұрын

Good tip

@crazycdn8327

23 күн бұрын

It does need to be kept updated. If it’s say untouched for a decade lawyers could tear it apart. But it should be super cheap with no updates being made. I think I pay $40-50 every two years.

Do you service Canadians? Referral Victoria, BC.

So, revocable living trust will protect my asset in case of a law suit? Pls explain

@audreyl704

24 күн бұрын

no

@crazycdn8327

23 күн бұрын

Not even remotely. It’s only for death or becoming incapacitated. Asset protection is a completely different topic all together. Look into anonymous LLCs and lawyers that specialize in it.

Is it true that the amount that can be used as a write-off from a CRT donation is limited to 60% of our previous year’s AGI?

@crazycdn8327

23 күн бұрын

Maybe pay for professional advice instead of asking strangers on YT?

@JoshSpace

22 күн бұрын

@@crazycdn8327 he is.

My aunt and uncle had a very expensive trust set up, in the end it did nothing to help them………….

My wife and I are a bit nomadic in retirement, we’ve got a trust in our state of residence but do not plan to live here the rest of our lives. Do we need to move the trust to every state we move to in the US? What happens if we move abroad?

@audreyl704

24 күн бұрын

offshore trust

@michaelblazin4093

14 күн бұрын

You trust should be in your state of residence. I don’t think it is a necessity, but you have to return anytime that you want to make a change. A new lawyer in new state is going to want you to get a new trust. He is not going to accept someone else’s document. Offshore? That is really problematic. That has got to trigger litigation. I doubt any US account manager will accept that trust document after the grantor’s death without a judge’s signature and a specific order to comply.

Question: Do you suggest putting personal vehicles in the trust. I have heard it both ways and the main reason, given, for not putting vehicles in the trust is should you have an accident it opens the whole trust if an injured party decides to sue. If the vehicle is owned personally then the trust, supposedly, is safe from any lawsuit.

@michaelblazin4093

14 күн бұрын

Liability is not really a driver. Prior to the grantor’s death. all assets are accessible. After death, the likely path is quick disposition of the vehicles. Depending on your state, maybe the specific state process is easier outside the trust. In my case, I have vehicles in two states and the beneficiary in a third state. I felt disposition of the vehicles from the trust would likely be easier.

How much does it cost for a lawyer to MAINTAIN the living trust per year that cost you $1,595.00 to set-up?

Understand the system and file everything yourself

Only tell your friends about it, guys like these that offer you an “in” are not your friends and there isn’t even any point in asking “what do they get out of it”

Can a nursing home go after a personal brokerage account, 401K, and life insurance? Can they be protected if they're to be left to a Trust?

They never say where to get the "Estate" in the first place to leave to someone! Why is that? Just like financial planners, they never say where to get the money in the first place to invest! Crazy! Thanks!

Everything? Probably not because of judicial activism. Shit, if the King of England was on a state visit to the United States and died, I'm sure you could find at least one judge that would sign an order putting England into that state's probate. Durable legal structures that transcend the turbidity of present world affairs is key to not being the snake eating its own tail. For the common man, that would be an irrevocable trust with the ability to load balance funds across jurisdictions.

@republicunited2183

6 күн бұрын

Yeah, certain things that I don't want in my will/trust, I put into a letter of instruction.

A “will” won’t cut it. Just about everyone should have a trust.

@audreyl704

24 күн бұрын

trust has a will -- you have to get a trust and will

😂😂 I don't need a trust cant trust anyone..

I didn’t buy life insurance because I know I am going to die, I bought it because I don’t know when. You only need life insurance if you have people that rely on your income; that’s it. Oh and $2k is not 1/100 of the cost of life insurance (at least in my case). $2k would cover 5 yrs of premium payments for me and considering most people only need up to 30 years of life insurance, you are looking at at least 1/10 the cost of life insurance, a far cry from 1/100.

Lawyer is finalizing mine at this moment.

Happy birthday to you Happy birthday to you Happy birthday to grandpaaaaaaaa Please siiiiiiiiign this document.

If they are not financially educated and disciplined money can hurt them. But in my case the surviving spouse (grandma) is 78, has no financial experience, trusts complete strangers implicitly, and may be experiencing age related dementia. After my father died in an accident , an attorney and business owner, significant assets passed to her and my two kids. She has a living trust. Be aware there are some legal "loopholes" to pass assets to children without any tax or restrictions. Lawyers generally will not advise you to do it because they might be viewed as unethical, and it doesn't make them money by selling trusts but it can be done.

Wake up America

The Living Trust is not protected against LTC & Medicaid, though, if LTC comes with 5 years of establishing the Trust. Beyond 5 years, they can't touch it.

DOES THE TRUST PAY TAXES AND IF SO WHEN? WHAT IS THE ROLE OF THE TRUSTEE/ DIRECTOR OF THE TRUST

@j10001

Ай бұрын

This really should have been addressed, even briefly, in this video

@oneshowoneservant

Ай бұрын

that depends on how the trust creator set it up. free game: read your states constitutions if you wish to see the people's trust.

@tam6011

Ай бұрын

Trust does pay taxes

@janoginski5557

18 күн бұрын

No tax is paid on assets held in Trust by the Trustee/s. Only when any asset is realised. And when I’m here, you do not need an attorney or lawyer to set up a Trust.

@optioncoachjohn

10 күн бұрын

No, the living trust pays no taxes, rather the Trustor pays any taxes the trust owes each year. The trust is a pass through entity, meaning tax responsibility passes to the creator of the trust. The IRS instructs the Trustor to not even mention the trust and to file taxes as if the trust didn’t exist. The Trustor files and pays or receives tax’s or refunds directly on their personal taxes.

Why you don’t offer this for Virginia?

@Justaguywithtruth

Ай бұрын

Commonwealth State😎👍

Better hurry up and give the money Away! It's becoming worthless.

NFA trust has entered the chat.

I often wonder how top level investors are able to become millionaires off investing. I have about $700k to start up but I have no idea what strategies and direction I need to approach to help me make decent returns

@Tevez875

3 күн бұрын

Would you please let me know who the consultant is who helped you with your investment and, if it's okay with you, how I might get in contact with them?

@roberttheodoregeorge

3 күн бұрын

If your ultimate goal is riches, then invest. But, if you want to build a long-term, profitable plan, get advice from a financial counsellor.

Seriously helpful. Seriously mportant. Seriously paying attention to their details. But mixing it too much comedy loses my concentration to pay attention. :(

Where your stuff is gonna go... what stuff ?

Thanks, Tony Stark!

My sister stole everything from my mother's estate. Not much was left on my doorstep.

@quinnbat

Ай бұрын

God watches everything you will be blessed!!

@davidcopperfieldsny

Ай бұрын

a trust would not have helped.

@esstong8064

27 күн бұрын

😢😢😢same happened to my husband...the sisters hid the will and was forced to share the inheritance. We found out about the will from the Aunt who's still living today who knows about the will. Anywho, long story short now we are living great...one sister has cancer and another is still living broke...no matter how much money that oldest sister holds still end up broke every time...ahhhh yes karma

@hisinvisibleness-fn8qj

27 күн бұрын

Family🙄

The biggest mistake people make is not setting AND periodically reviewing beneficiaries of financial accounts. Account beneficiaries (or lack thereof) takes priority over the Will. Each institution had its own form and process. If you forget you mentioned someone as a beneficiary and you have a falling out, that balance may go to someone you no longer have a relationship with. Also, big banks famously IGNORE legal power of attorney forms even if notarized and filed with the state. They only recognize THEIR PoA documents. And they a change the terms at any time by burning changes in PoA policy and flooding you with one of those “Terms and Conditions” updates you get in the mail and never read.

@artistrelatedcreators

6 күн бұрын

Good info. Thank you.

Don't copy this if you're not rich enough

“Fail to plan, plan to fail”.

With a trust, do you need a “power of attorney” or a “living will”? 😊

I disagree about the creditor protection. If someone wracks up debt, why shouldn’t they have to pay it? If they don’t pay it, who is? If it goes unpaid, it’s likely that society will be forced to absorb the debt - as we all know, nothing is free. If someone has a debt, they should take responsibility and pay - even if that means that the money comes from an inheritance or whatever. I think it’s wrong to encourage people to avoid paying their debts - bad lesson.

Trusts are the WORST plan. Our relatives were convinced that it was the thing to do to keep their adult children and grandchildren out of probate. Instead, they discovered that the corporate trustee (a bank) had lied about paying bills that had not been paid. The bank trust officer also claimed to have handed everything over to a CPA for income tax filing. But 2 months later, just 3 days before the filing deadline, they discovered that nothing was filed or even prepared. So they hired a lawyer to remove the trustee. They thought it was done and then they got a petition in the mail claiming that they were both physically and mentally incompetent. Even though there was no evidence of their incompetence, the trustee dragged them through probate court for 3 years and cost them $120,000 in legal fees.

@Justaguywithtruth

Ай бұрын

They should hire a bee keeper too handle those that used them🤔🤨😠😎👍

@marylandmike7655

Ай бұрын

⁠@@Justaguywithtruthindeed! Jason Statham comes to mind

@artistrelatedcreators

6 күн бұрын

Oh my! Thanks for sharing

Does your new wife have access to the trust if married after?

$2k for a single person and 1 heir?

@shawnm2405

Ай бұрын

Right? Too much. You can find for 1k most of the time in NYC area. Half that in non cities.

@707fv

8 күн бұрын

That is steep. I've seen it for much less

I'm not qualified to talk about trusts or wills but I do confirm that a) money does weird things to people b) It can ruin relationships. Years ago, had a co-worker who died while still employed. I was overseeing the HR retirement/death benefits process. The heirs were 2 sisters and a brother. I heard the sisters cleared the bank account and purchased new curtains (buying new curtains is a thing here) and did not share with the brother. Anyway, my only job was to process a one month grant to the one who signed off the death certificate and wait for the letters of administration to process the rest.

♥...I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Natalie Rose Strayer.

@Rodriguezpaul-9

22 күн бұрын

I'm surprised that you just mentioned Natalie Strayer here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.

@Nguyenvictory83

22 күн бұрын

The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.

@Brucelanham845

22 күн бұрын

Natalie Strayer has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's

@Jessecote875

22 күн бұрын

This sounds so good and I would like to be a party to it, is there any way I can speak with her?

@carolynvo7802

22 күн бұрын

After I raised up to 125k trading with her I bought a new House and a car here in the states also paid for my son's surgery Glory to God shalom.

Hey Mark. Not nitpicking here but you inadvertently insulted Mat by referring to him as "infamous." Many people incorrectly think it means "very famous." Actually, it means having a reputation of the worst kind: notoriously evil (think Adolf Hitler).

@Will_Schrank

10 күн бұрын

It wasn’t a mistake - it was a joke, and a common one.

Can a wife contest the terms of the trust?

also TAXES is NOT a definite in life . ONLY death, YOU live on our tax needs so you are a little partial to like taxes LOL. but it is NOT a definite.And , of course , a revokable ,living trust is also a good income for you , at about 8 to 10K to set up is also out of most people's reach. Wedding dress , Piano , WTH? who cares about those things after you are dead the kids will just give it to goodwil. LOL. let the house go in foreclosure , and the kids ask for the difference back after settlement . the rest will be under the kids name in secret storage , LOL. matt is constantly moving his mic. don,t , it makes you come across un comfortable , ( which i would be too if i tried t sell such an ongoing expensive legal document that others can and WILL fight in court.

While you try to figure this out now, Islam has figured this out thousands of years ago just like many more things in life right now and we still get surprised about this. Why dont you read a little bit about will and wealth distribution in Islam?

Too long!

I'm an xrp investor with over 120,000 tokens. I'm cash poor until the economy takes on the digital realm. When that happens, I'll be looking for help.

@gordondkrbavac6861

Ай бұрын

When that happens, we’ll All be looking for help. Not in a good way. 👀

Don’t trust people that aren’t young men for a long time

Sweaty guys like these are exactly the people you want to avoid