If You Have a Living Trust, Watch This!

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While most living trust informational pieces discuss the benefits of a revocable living trust, such as avoiding probate, and avoiding the court and attorney involvement of probate, this post addresses what can go wrong when a living trust is not funded correctly.
For prospective law firm clients who want to schedule a free 15 minute initial phone call with Paul Rabalais, go to: go.oncehub.com/Paul8
This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.
Paul Rabalais
Estate Planning Attorney
www.RabalaisEstatePlanning.com
Phone: (225) 329-2450

Опубликовано:

26 апр 2020

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Комментарии : 118

@rosalieroy1792 3 года назад

I have spent thousands with attorneys for the same information you give me. THANKS

@lindaHalt1916 2 года назад

This session answered so many of my questions I was unsure about! Thank you, thank you, thank you. 😇 LindaH, Dallas, TX

@dtom1145 Год назад

We have a Revokable Living Trust, Power of Attorney, Healthcare Proxy and Living Will. Investments are TOD to specified beneficiaries. Sentimental items are photographed and in a list for beneficiaries we would like to receive them. We sleep much better knowing everything is in order and the process will be as simple as possible for the successor trustee.

@bluej5455 Год назад

You have so much great information, thank you so much.

@marybush5960 Год назад

Thank you, Paul, for your videos. Very helpful.

@annaDias-sb2ql Год назад

What do you when your mother just passed away and my sister is squatting in my mom's house the day she passed

@alliesteamc3546 2 года назад

Very informative and helpful, thank you very much!

@tiffanyvan4690 Год назад

Thank you for sharing your expertise and educating us on Estate Planning. Love from Texas.

@dks13827 11 месяцев назад

Probating 9 years here. 11 cousins are the farm heirs............ 2 have died. Still not done......... we are not happy.

@coopsevy5664 4 года назад

Yip I'm going to have to watch this today and again tomorrow

@shereevolrab8311 3 года назад

Thank you! Your vlogs are very informative and well presented.

@homerwatts7358 3 года назад

First time listener. H.watts

@joannkittell1883 Год назад

Watching from Kentucky, very informative

@gordonmews2724 3 года назад

I enjoyed watching this , very informative ...

@unkireynolds2343 Год назад

Thank you so much for education. Witch I realy need. God Bless you.

@lw2462 4 года назад

FL.HERE,GOOD JOB.

@kathyvolpe-schaffer7419 2 года назад

Thanks so much. We needed this info.

@peterdworman1891 Год назад

Fantastic information. Let in go new york buy you are very relevant

@hetalp978 3 года назад

Awesome information ❤️❤️

@KatCanDoRNMCB15 Год назад

Thank you for all the great info! Too bad that the human element is lost in these legalities. Its disgusting the way the emotionally involved executor does all of the loving, caregiving, managing and grieving, yet the absent siblings can still waltz in years later upon the parents demise, and strong arm, bully the process forward despite the executors shattered recovery, and then force liquidation and disbursements with zero knowledge, respect or regard for the carnage of the executors now accumulated losses.

@paulpugh2480 Год назад

I think the carrying party if the parent is in there home or maby even just in there care ,that person is entitle to 5% additional money. Check it out.

@billwalters750 Год назад

How can a living trust prevent losing home or savings when entering assisted living?

@kenng8490 2 года назад

Very educational!

@johnkatkus7143 Год назад

I would very much like to have help in setting up our final papers. I live in in Illinois i am 75 my wife is 83. Can you help me do this, or do I have to see a local lawyer to do this. I like how you present information you appear to point blank and direct and we both like this.

@eastwestpicayune8200 Год назад

Very informative video. Can you explain or do a video about the rentals in LLC? How to transfer the LLC to a trust?

@merewoman8205 Год назад

You are GREAT, marvelous information. I am old,but still working as an art restoration/repair person. I have a home and a few bank accounts. I have one heir, and named her as sole TODD on my home, POD on my bank accounts. I did a Will with a lawyer 5 years ago. I specifically excluded two estranged children. The lawyer said the Will would only be used as a back up if assets were contested. (The business located in my home, and 30:11 is so esoteric that no one else understand how to make it work. It dies with me.) if she gets the house on a TODD and the bank accounts by POD, would a Trust be necessary?

@zofian8927 3 года назад

Love all your information awesome! Nursing homes are very expensive $6000-$8000 NY$12000 if go to nursing home and all costs exceed the value of my estate after residents few years, what gone happen to me?

@gretaclave7632 2 года назад

Great info! Love the humor too: "We're all going to die or so I hear" lol

@monecagainer6202 2 года назад

Can a trust be appealed if someone has a legitimate claim but wasn't included in the living trust?

@shobamathews2623 2 года назад

Do the inheritance through a revocable trust pay taxes

@junespina3291 4 года назад

Love all your information. I am 71 and wondering when is the best time to start looking into trusts for later in life. I am healthy but that may not always be the case. Keep the videos coming. June

@FaridaSultanaIchoosesuccess 3 года назад

You are 71 and you are wondering....God have Mercy ...the time is now there is not later in life for you.

@alhawkins3376 5 месяцев назад

Also wanted to know if I want to protect assets should I add a "asset protection trust" to my wifes (passed) grantor of a revocable living trust or is done another way ? Any example of cost ? I & wife created living trust (online) now have a lawyer to create estate charges 3% for creating estate that includes manage trust for (deed etc) . We also have a law suit that this lawyer charges 3% of as compensation for his workI, is that customary? And what is normal cost if adding asset protection trust clause ?

@lindaHalt1916 2 года назад

Which would you suggest to a single person, a revocable or irrevocable trust?

@joycecampbell1908 Год назад

Is it better to put mineral rights in revocalbe living trust or just disignate heirs with recored mineral rights?

@rosiesanchez2348 9 месяцев назад

Hi there, do you have an office in Houston, Tx

@kerstinlampert7337 Год назад

I'm thinking about a CRCC type life care residence. I understand the initial buy-in can cost between $200,000 and 650,000. And the monthly cost ranges from $2500-8500. My question is can you protect your assets in a trust so they cant be accessed by the management when you get to the last stage of nursing care. It is my understanding that you must spend down your assets before they give you "benevolent" care?

@jend3307 Год назад

23:40 great questions

@oliverpizza Год назад

Thanks

@maryannmendoza4729 5 месяцев назад

Out-of-Statd Movers stole 20+ bookboxes including Will & Trust. The lawyer decided how it shouldbe. How can I revoke them & obtain copy in case?

@osteokid Год назад

We have a RLT and bank accout is in it, we bought some Tresury IBonds from Tresury Direct with that account. are those IBonds automattically in the trust?

@peterscaritojr7835 Год назад

Great video very informative a couple of things and I don’t have a trust but I want to do one my lawyer is stubborn about it wants to keep me in the will but I think we’re going to change that. Here’s a question what about a lease vehicle does that have to be put into a trust? Also my rental properties that I own if I move them into a trust from my name how do the tenants pay their rent under the trustees name or can it still be under my name. Does that count as well with an LLC? Thank you

@sandyclark3004 3 года назад

Is it advisable to have a complete list of what and who you want certain items to go to? DOES THIS HAVE TO BE NOTORIZED BESIDES THE TRUST?

@mashalifevlog6514 Год назад

It doesn’t have to be notarized.

@user-xt4fw1rl6j 4 месяца назад

Iam disabled and don’t pay property taxes in the state of Alabama if I put my home in the trust will I still be able to be able to get exempt from paying the property tax since the house in in the trust

@user-nc4cf1ni3y Год назад

My mother set up a special need’s Trust for my brother , she named his daughter as trustee, what does the trustee need to do to continue the trust after my mother died.

@sandracesar9828 3 года назад

I have a Irevocable living trust,lost my husband. I have a ira and stocks and bonds all in the trust. I also have rental properties and a s -corp also in my trust. What am I doing wrong.

@abc-wv4in 3 года назад

That non-titled "stuff" is often the thing that causes the most or only conflict. Something needs to specify who gets what. Other sites say to put it in the trust. Are you saying address it in a will?

@SherMusician 2 года назад

thank you for this vid...being backstabbed by new wife and brother...just found out they put my dad in a home in Feb....I will be brushing up on everything and learning all I can....I was wondering if it meant puter stupid as in 'computer stupid? anyway these people Im up against are possessed by the devil and I am more interested in keeping him alive and exposing the drug that caused him dementia...the fittest man cop/ horse racer/boxer you've ever seen til 'Her' but I do a bit of law here and there including beating estee lauder and beating the covid scam....I will be finding every nook an cranny for getting her POA removed. She's a narcotic anonymous sociopathic cancer survivor.....she's got 3 dead husbands. Blocked me and thank God my half sister who plans to back me up along with other family members.

@danielwoo4246 2 года назад

Would my son who has my passwords to my stock broker's account be able to withdraw money out of my account right after my death ?

@mirrormirror444 Год назад

What should the beneficiaries do if the grantor’s trustee (who’s also a beneficiary) has been making the grantor (who was recently diagnosed with dementia) give her special gifts and is no longer trusted by the other beneficiaries? Should we be worried and hire a lawyer now or wait until the grantors death? Should we accept it these special gifts now or should we contest the special gifts after the grantors death?

@4951wolcott 10 месяцев назад

When the grantor no longer has capacity to make decisions, consider filing for conservatorship. This done in a court proceeding.

@4951wolcott 10 месяцев назад

😊

@ellenrice7851 2 года назад

Haha “Buick Grand Marquis”. Buick Grand National. Mercury Grand Marquis. Thanks for the estate planning info, though.

@verniecroghan556 Год назад

Is it necessary to state within the Living Trust, names of individuals you do not want to benefit from the estate assets?

@amyxu8902 Год назад

how do you transfer the interest in your LLC to your trust?

@rickslothower9441 Год назад

we have awill.we thought that was enough until we watched your video on revocable living trust. our lawyer said unless we had a significant amount of money we did not need a trust. I think he was wrong. am I right?

@gilbrook 2 года назад

@Paul - Does Trust designated as beneficiary of an IRA be required to go through Probate when owner dies?

@losmooth716 Год назад

But does the trustee have to probate the first to validate will before trustee can start

@brendajanes389 Год назад

Will u do a Living trust from Ky? If not, do u know a go lawyer from Ky?

@alhawkins3376 5 месяцев назад

Hope ur not a cowboys fan, thus make me find another lol, as life long Redskins fan in DC (not commanders). Like looking to you as my backup lawyer, concerning the all 3 confusion question question "one as all" wanted to clarify mom as grantor (died) & dad as executor & beneficiary should be "principle" of these also and not kids ? Thought you said kids after him should be principal before the children ?

@bginc2849 3 года назад

how does this work when the asset is a STATE certificate of live birth that is recognized as a stock certificate / property deed accumulating interest due to the state using the certificate for tax purposes and it being traded on the stock market ?

@brinathomas4340 3 года назад

Good question

@valeriepsqdance6657 Год назад

Is a irrevocable living trust what an elder law attorney/lawyer drafts?

@JudyHoward-se5ez 28 дней назад

What is best way to handle change of address, handling mail?

@JudyHoward-se5ez 28 дней назад

When one dies...best way to handle change of address for deceased?

@carolyndrummond3455 2 года назад

How does the trust know where to access these different things left to the trust.

@farmermike9262 Год назад

Typical the lawyer dodges the how must does it cost question. 😅

@teamsix7185 3 года назад

Does a Transfer Upon Death Deed (for a home) work to avoid probate and avoid Medicaid asset recovery? As long as its filled in correctly and filed. Why would you need a trust for that?

@darrinrentruc6614 11 месяцев назад

@joycecampbell1908 Год назад

Is it difficult to revoke a revocable living trust?

@PRIMECAREMEDICALSERVICES Год назад

Im a single mon with 3 kids. My youngest is a special need child and receiving SSI. I have a fully paid small home with some retirement accounts. My 2 older kids are now independent. I am worried about my special child when I die. What will you suggest that I do.

@karenhensley6991 2 года назад

What if you leave a will just saying lit goes to heirs ..who are they an what do you do after their passing ? My kids left a will just saying it goes to heirs.I meet.to say their grandmother is how she left her will ..now we don't know who all it involves ..

@danutamaj2115 Год назад

Are you familiar with international inheritance law.? Is living trust working in Europe on the same principles? Do I need international lawyer to set my estate planning etc

@rhondawilson5471 3 года назад

My mom setup her and husbands living trust. He passed away 10/2020 and then she passed 2/2021. I am trustee along with one of her husbands children as co-trustee. We , mom and I, never went over details. She left majority of financial things out of trust and just listing me as beneficiary . Siblings and step siblings feel I should be splitting everything amongst us all. There are 7 all together. But not sure that everything was meant to go to all 7 or if some assets were to be split with just her children.

@chrisyzuccaro1767 2 года назад

sharing is caring. Maybe she picked you because you would do the right thing.

@mashalifevlog6514 Год назад

Share. You’ll be blessed.

@pamelaclark5449 2 года назад

Can you work with clients in TN

@tobbateman3225 2 года назад

My sister is power of attorney she takes all money from family business I'm the oldest child I get nothing she has went through 200 thousand allready can anything be done

@kathykovel5522 2 года назад

Should the children get get anything if they never contact you

@lightsourcer1703 2 года назад

@joselandin4494 Год назад

What about bills left behind

@kvannoy1595 3 года назад

I had a trust set up. The attorney used a boilerplate “insurance” format. My understanding was this type trust was for estate purposes to put a life insurance policy in the trust to pay the estate tax bill. It does establish principle beneficiaries, trustee, successor trustee. The trust has been funded with brokerage account of stocks, ETFs and mutual funds. Will be supplemented with cash from sale of rental real estate. Should the trust be rewritten to be more specific to the holdings and purpose?

@sandyclark3004 3 года назад

I have printed labels on a lot of pictures, etc

@hazelrichman6943 Год назад

What if you only have one adult child?

@badbradcannon 8 месяцев назад

I was 7

@cnn.2509 3 года назад

Can i set up a trust if i have a lein?

@pattiplaster7032 2 года назад

Did you find this out?

@cnn.2509 2 года назад

@@pattiplaster7032 yes, you can't set up a living trust with the property that has a lean, but if you have multiple properties you can set up trust for those properties, just not the property under a lean. In my case a mechanical lein.

@pattiplaster7032 2 года назад

Thank you

@luckyschaffner5496 3 года назад

I have a will, and a living trust written by my lawyer 13 yrs ago. Why do I have both?, if lawyer told me , I forgot. He has died now.

@aonforme3349 2 года назад

Short answer... Will=Who gets assets, how split. Trust=Avoid probate (court) to easily move certain assets (house/property investments) to heirs. Have property in name of Trust (funding the Trust).

@mashalifevlog6514 Год назад

Most likely you have what is known as Pour over Will. It goes along with a trust

@jameshohimer2542 Год назад

Regarding how to handle the distribution of untitled stuff (Personal property) in a Living trust. Do a ‘Pour-over Will’ that says: everything you own (Titled or not) at the time of your death is to be placed into the Trust. Then issue an ‘Instructions to the Successor Trustee’ document to direct the distribution of these items. Make sure to make note of these documents (‘Pour-over Will’ and ‘Instructions to the Successor Trustee’ ) in the language of the Living Trust. The above is not provided as legal advice….I am not a lawyer.

@coopsevy5664 4 года назад

How do you pull out from a living trust?

@badbradcannon 8 месяцев назад

I won a year's supply of nothing.

@wandabilbrey2577 Год назад

Can you write your own Living Trust?

@evelynharris8913 2 года назад

John Harris my parent are passed away they live me will trust , my parent lawyer sand to me that I should receive the trust, but the other lawyer create amendment looking

@melaniejane9877 4 года назад

I asked my lawyer to do a Living Trust for me, which he did. He had me put some personal items and who the respective beneficiaries are for each, right in the trust document. I said I wanted him to put my home and another piece of real estate in the trust. He said not necessary because it would be very costly and he wrote up a 'pour over' will for me and said that everything would be poured over the day I die. Which implied that it didn't have to go through probate, but now I'm hearing you say the Living Trust must be funded to work properly and anything that is probated is held up. What should I do?

@FaridaSultanaIchoosesuccess 3 года назад

Very good question and needs clarification. Please answer. 0ne should have a will along with a Trust, to accommodate items not included in the Trust. Pour over makes it easier...but it still has to go through Probate. Please correct aa needed.

@lightsourcer1703 2 года назад

Transfer real property, including timeshares, into the trust. Simplest way is to use quitclaim deeds. Otherwise, whatever is in the pour-over will go through probate. I am not an attorney, but a recent “experience” has been educational.

@alliesteamc3546 2 года назад

Question: do banks require Roth IRA accounts to be in the individual’s name? Do Roth or IRA accounts have to be titled in individual’s name?

@GAMEoVIDZ Год назад

Yes, my parents died with just their names on them. I’m their only daughter and had the trust,but they wouldn’t let me take control without going through probate. I’m really angry with Fidelity for not asking them when they were alive.