What Assets Should Stay Out of Your Trust?

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In this video, attorney Bill O’Leary will explain what assets you should keep out of your trust.
You will learn:
• Why some assets should not be transferred into your trust
• How some assets are better protected outside of your trust
• What risks are incurred by having some kinds of assets in your trust
Do you have any questions, tips, or experiences with this topic? Leave us a comment below.
Legacy Planning Law Group is dedicated to helping people protect their family and preserve their legacy. We serve families and seniors with Estate Planning, elder Law, and Probate needs throughout the greater Jacksonville, Florida area.
Schedule a free discovery phone call with Legacy Planning Law Group at: www.legacyplanninglawgroup.co...
Additional Content to Consider:
• Sign up for our Newsletter: www.legacyplanninglawgroup.com/
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• Subscribe to our RU-vid channel for more videos about this and other Estate Planning, Elder Law, and Probate topics: / @legacyplanninglawgrou...
(Music by www.bensound.com)

Опубликовано:

16 май 2023

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Комментарии : 241

@kortyEdna825 Месяц назад

The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?

@Justinmeyer1000 Месяц назад

I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.

@carssimplified2195 Месяц назад

45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.

@PatrickFitzgerald-cx6io Месяц назад

Your adviser must be really good, I hope it's okay to inquire if you're still collaborating with the same adviser and how I can get in touch with them?

@carssimplified2195 Месяц назад

She goes by ‘’Aileen Gertrude Tippy’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did

@PatrickFitzgerald-cx6io Месяц назад

Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.

@Redwood4040 3 месяца назад

I am at the beginning of my "investment journey", planning to put $400K into dividend stocks so that I will be making up to 25% per year in dividends. Any advice?

@WestonScally7614 3 месяца назад

Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.

@FelineAirstrip 3 месяца назад

There are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience

@SaintYvess 3 месяца назад

Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.

@sting_grayl 3 месяца назад

Please can you leave the info of your lnvestment advsor here? I’m in dire need for one

@SaintYvess 2 месяца назад

*Jennifer Leigh Hickman* She's been able to gain some reputation with over a decade of experience, so it shouldn't be a hassle to find basic information on the web.

@wcasox 3 месяца назад

Yes good advice, but background music too loud

@poolmilethirty2859 3 месяца назад

Agree, background music not needed.

@snowballleeblue8497 17 дней назад

Cannot turn up the volume to hear him over the music, bc the music is constantly in competition with his voice. Very difficult to hear. Maybe bc I’m a lit hard of hearing, i thought it was me

@legacyplanninglawgroup5897 3 месяца назад

Thank you so much for watching! We've heard you about the background music, and we've endeavored to correct that in our newer videos!

@bluenetmarketing Год назад

Great information, but PLEASE delete the background "music noise." It detracts greatly from your content and makes it impossible to hear everything you are saying. Most youtubers have long since deleted any background "music noise" from their videos for just this reason. It was a fad at one time, but almost nobody does it anymore.

@jerrys5946 Год назад

Yes. Those of us with hearing loss find it especially annoying.

@icc64 9 месяцев назад

@@jerrys5946all of us interested in this subject

@aquaviz4854 3 месяца назад

So agree

@user-mr1mq8ge1q 2 месяца назад

He' Actually GUILTY And Then Which would Allegedly Hold Your Philosophical View Flawed (Causality)

@JaniceHylton 6 месяцев назад

Thank you so much for this info. Can you please tuen the music d9wnnfor next video. It was so hard to jesr you, and I need this info.

@user-wk5jo4hx7w 6 месяцев назад

Excellent information. Thanks so much!

@FRANKLIN-nu6wo Год назад

Thanks Bill for your insight!

@gr8ride411 4 месяца назад

Very useful information 👍🏽Thank you!

@russellgray3303 2 месяца назад

Thank you for the video!!! We learn a lot from you! Thank you!

@wilsonbeat9117 3 месяца назад

Great and insightful. Thank you!

@tscoff 2 месяца назад

Thank you. This is very useful information!

@hartzogLovesScience 3 месяца назад

Thanks for the advice. I didn’t think about using a trust as a beneficiary

@tony745 3 месяца назад

Very good video. Thank you for the information.

@ChloeCarter-kd7gz Месяц назад

With around $250k to invest, what's your advice on entering the market? I'm considering replicating the strategies of experts instead of investing independently to avoid both financial losses and emotional stress. What are your thoughts on this approach?

@LeahLewis-ny9iu Месяц назад

Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.

@MelissaHobbs-qm8wi Месяц назад

This is an insightful perspective to consider.

@AshleyKeith-vw7ws Месяц назад

Agreed, my portfolio is well matched for every market season, yielding 60% from early last year till date. I and my advisor are working on a 7-figure ballpark.

@WhitneyRoss-dj4rf Месяц назад

Your financial advisor must be really good, Wehrine. I hope it's okay to inquire if you're still working with the same advisor and how can I get in touch with them?

@AshleyKeith-vw7ws Месяц назад

@@WhitneyRoss-dj4rf That would be Desiree Ruth Hoffman.

@zackblessing1017 3 месяца назад

A great day and a better world!

@jolynbranch1211 3 месяца назад

Thanks, Bill!

@Scottweeier846 Месяц назад

All the best and good video. In my opinion it is still a good time to invest in different stocks like gold, silver and digital currencies. This is one of the most important skills to learn and everyone should invest instead of saving. Some may agree, some may disagree. My big compliments to Natalie Rose Strayer for improving my portfolio!!....

@Josephbasta827 Месяц назад

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.

@carolynvo7802 Месяц назад

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.

@Jessecote875 Месяц назад

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

@Rodriguezpaul-9 Месяц назад

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

@Charlottehornets4 Месяц назад

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.

@marcymartin9315 3 месяца назад

Thanks. Really helpful.

@danbutler3757 10 месяцев назад

Very good insight, Thank you! I have multiple pieces of real estate title and various grantor trusts for privacy and protection. This has worked very well in the past. In fact saved me over $550,000 on one DEQ lawsuit. How can I make sure that each of the properties comes back to my estate and my errors, but I am putting my personal trust together?? I have subscribed to your channel and have shared it with quite a few friends who are in real estate. Many thanks

@ipeteagles Год назад

educational thanks

@Scott-sm9nm 5 месяцев назад

Real valuable information in a short amount of time. It was, however, unclear what type of trust it was (irrevocable, ?) or maybe it doesn't matter?

@robs9610 5 месяцев назад

Love the video, do you have any Michigan trust attorney recommendations??

@frankmoran7714 2 месяца назад

Great info!

@user-ix3zx8gu3t Год назад

does this apply to having other family members' Trusts listed as beneficiaries on IRAs, etc.??

@user-qe5ii9kq6b 4 месяца назад

Very good 👍🏿

@nononsense7655 9 месяцев назад

Great video! Does each state have different laws or naw?

@prelitigation1 6 месяцев назад

Could you, being a Texas attorney set up a trust a trust for a client in California ?

@seven1378 6 месяцев назад

I’ll listen when the background noise is gone

@paulkoza8652 3 месяца назад

I agree about the music, but the guy is spot on with his advice. I had a great elder law attorney in JAX and she was very specific and thorough about what assets should and should not be placed in a trust. Don't cut your nose off to spite your face. Listen to the entire video.

@eugenefernandez4377 6 месяцев назад

How much do you charge to do a trust and a land trust?

@SheriChase 5 месяцев назад

"Background music" is so over rated. It's not necessary. I was getting a headache trying to hear you. It's worse when trying to wear headphones or speeding up a video. It's awful. Loved this video but would be better without the distracting, annoying "music".

@karenswanson118 3 месяца назад

Totally agree with the music comment

@smiley8881239 3 месяца назад

I agree!!

@joereyes5621 3 месяца назад

Move on…

@longgone2023 3 месяца назад

Yes I hate that noise clutter

@vincentbugalia3858 3 месяца назад

How much does it cost to set up a revocable trust?

@j.andrewk.327 Год назад

But if one has a "special needs trust" the trustee and not the beneficiary has control over asset allocation. What do you advise in that circumstance?

@michaelsmith-rh4yt Год назад

Get rid of the music

@FrankJohnson-hu9bh Год назад

at least it is background music, and also has no wierd volume changes.

@shabazan Год назад

Downvoting

@TheChancesmom 6 месяцев назад

Amen

@edmor1086 3 месяца назад

Agree

@hartzogLovesScience 3 месяца назад

Learn to tune it out. It is, after all, on a loop.

@user-or6sc7cg2h 3 месяца назад

What will the digital dollar do to family trust accounts ?

@elizabethdominguez8817 4 месяца назад

In NY you can only transfer a vehicle worth up to $25,000 upon death. Otherwise it must go through probate. So in the case of a car worth $80,000, should I put it in a trust?

@danamyrocket 3 месяца назад

How many cases are there where an individual actually incurs a financial penalty from an automobile accident? I’ve heard the risk mentioned over the years, but never heard actual data on frequency or severity. I’m really curious about this.

@duggydugg3937 10 месяцев назад

no veh good point

@eastwestpicayune8200 3 месяца назад

Did I understand you correctly that to designate a trust as a beneficiary of an IRA? That is a no no according to a financial consultant. A trust is taxed at a higher level instead of ordinary income. Please clarify if I am wrong.

@MikeyB_1972 3 месяца назад

Can you make the trust the beneficiary of your retirement accounts? Or keeping beneficiaries as your children, there is no tax implications with respect to the transfer after time of death? Something along the lines of they have 10 years to withdrawal all the money or something like that?

@mejiaeric99 День назад

Did I understand correctly? I should list the trust as a secondary beneficiary on my bank and brokrage accounts? Why does maintaining the account jointly owned offer the most protection? I was thinking of doing it this way, but I wanted to be sure.

@duggydugg3937 9 месяцев назад

sep trust for veh ?

@ginabrown3901 Год назад

Do you give trust advise for just Florida residents OR any state resident??

@user-qe9de6lj6w 3 месяца назад

What about Alaska?

@pankajpatel4434 2 месяца назад

Do you advise us to put the Trust as beneficiary for the Roth IRA account? I thought it was not advisable! Please clarify 🙏Thanks

@barrykelly2722 2 месяца назад

Put home in trust, check...... But when i turn 65, my county will begin to waive the property tax. Will this be possible if the trust ownes it?

@user-qe9de6lj6w 3 месяца назад

Are your laws in North Dakota the same as the laws in Arizona?

@SherryXShi 2 месяца назад

what is the probate difference between CA and TX?

@dajonczy427 4 месяца назад

What about collector cars?

@hoosiermama3001 3 месяца назад

Such good advice presented in an easily understood manner. Thank you!

@fiftyoneandsomechange 4 месяца назад

Great information. I'm in law school now and want to be an estate attorney.

@user-qe9de6lj6w 3 месяца назад

How will you learn to try a case?

@fiftyoneandsomechange 3 месяца назад

@@user-qe9de6lj6w I have an internship with an estate attorney next year.

@cacinaz8802 Год назад

I have an single member (me) LLC that has a brokerage investment account. My wife is the primary beneficiary should I die. Should I make our AB trust the contingent beneficiary?

@repriser9876 3 месяца назад

Trust tax rate? When it's taken out?

@AutumnGold0706 3 месяца назад

So you need a trust with things you own and a will with money distribution . Why can't everything be put into one legal document because two sounds confusing. At least that is what I understand to do but now am confused.

@BulentKizilaslan 3 месяца назад

I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year.. Investment should always be on any creative man's heart for success in life

@inicMich-rc5wo 3 месяца назад

You're right, with my current crpyto portfolio made from my investments with my personal financial advisor Stacey Macken , I totally agree with you

@ivar766 3 месяца назад

YES! that's exactly her name (Stacey Macken) I watched her interview on CNN News and so many people recommended highly about her and her trading skills, she's an expert and I'm just starting with her....From Brisbane Australia

@arktom7335 3 месяца назад

Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently earn as much as 12 grand weekly and this has improved my financial life

@AIIG-zd5dx 3 месяца назад

This Woman has really change the life of many people from different countries and am a testimony of her trading platform .

@Richardson238 3 месяца назад

Wow. I'm a bit perplexed seeing her been mentioned 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

@Tasteprettyllc 2 месяца назад

Can you give me some valuable information? Specially, with my life insurance policy, I think I should set up a trust and make it the trustee

@davidmengle8269 3 месяца назад

So the only thing I should put in the trust before I die is property?

@oldmanx1234 Год назад

really interested in this but the background music muffles everything.

@robertjohnson4401 Год назад

You recommend to not put retirement assets in a trust. I assume this is referring to an irrevocable trust? What is the distinction between putting the retirement account in the trust or setting the beneficiary of the retirement account to the trust? Maybe you are referring to an irrevocable trust when you state do not put retirement assets in trust? My understanding with a revocable living trust is no asset is actually in the trust, the trust is set to be the beneficiary. Is it recommended for a revocable living trust to have the beneficiary of the retirement assets go to the trust?

@Itsme-jv4cd 3 месяца назад

So if you list your child as a beneficiary on a 401k or IRA and not put that in the Trust will it have to go through probate?

@chemistrypodcasts Месяц назад

Wait. I'm confused. How does having the joint account remain outside of the trust protect it? Let's say I have a car accident and it's my fault. The plaintiff's attorney comes after the joint account whether it's in the trust or outside of the trust. What am I missing?

@kim.in.nature. Год назад

Can Nursing homes or long term care facilities come after a trust owned by an adult child, that their parent is in?

@Aortadetroit 6 месяцев назад

absolutely unless an irrevocable trust.

@thuyyuen2897 11 месяцев назад

Should rental properties be In trust? Or in an LLC and that LLC in trust?

@clamk77 3 месяца назад

I have the same question. I hope he will address it.

@mariatorres9789 3 месяца назад

Depends. Is that rental in CA? I think LLC are exempt from that new AB1482 law?

@johng4093 3 месяца назад

Can you put the background music in a trust and designate someone you don't like as the beneficiary?

@susandermond9254 3 месяца назад

😂

@smolville Год назад

What if the trust company pays the car or house insurance for the heir?

@andrewlayton9760 Год назад

If so structured, the Trust can pay ordinary expenses for the beneficiary. Typically, the Trust generates income and distributes that to the beneficiaries.

@smolville Год назад

Count Olaf trust company

@jdgolf499 Месяц назад

Why is there a difference with the IRA / 401k taxes if it is put into the trust at death, or before? It will still be distributed from the trust to the eventual beneficiary.

@donc2018 6 месяцев назад

Good video, thank you. Why (at around 3:30 time stamp) would it not be protective to put the joint bank account inside the trust while both spouses are alive?

@Freekygrandma 5 месяцев назад

Because bank accounts have designated beneficiaries that are accessible upon death of a spouse or joint account holder. So does IRAs and 401Ks. The more you put in a trust the more expensive the legal fees are. The house(s) can also be left out by using a Lady Bird Deed or a Transfer on Death Deed. Only 5 states allow LBD and the rest allow TODD.

@jiayufu6082 11 месяцев назад

Investment account has beneficiaries.

@randymuller8728 2 месяца назад

What if the trust firm goes out of business

@danny1682 3 месяца назад

Hello Bill, is it possible to give each child money to invest which I would leave to the child upon my death ? Also do their spouses have a right to claim half the money in case of a Divorce. Single parent.

@davidd5712 2 месяца назад

Last time I checked money is an asset

@poochicuddle Год назад

Heyyy. @legacyplanninglawgroup5897 Please address our asset protection option(s) for 1st scenario 3:01 to 3:21 ;both spouses live. Thanks.

@ginger6582 Год назад

Some attorneys want to force you to put things in your trust. I wanted my house in a trust. The attorney wants all your asset information which is not necessary. Bank accounts can have POD 's on them. Still keeps them from going into probate.

@breal7277 Год назад

I have no real estate, I have a CD account (along with savings and checking). The CD account has a POD, does that mean that I don't need a living trust? for that? I also have stock, do I need a living trust for that?

@Dbb27 3 месяца назад

My ex used a POD for his bank accounts. It wasn’t seamless. My sons made an appointment and just walked in to the bank with his death certificate. Walked out with a check.

@ginger6582 3 месяца назад

@@breal7277 Where I live the CD only needs the death certificate and identification. Some states may vary. Don't know about the stocks.

@jonathanhantke6314 2 месяца назад

The background noise is irritating and distracting.

@victoriaquezada 8 месяцев назад

If the bank accounts have beneficiaries , the bank accounts do not have to be put into a trust--- correct?

@mettamorph4523 6 месяцев назад

POD or TOD do not need to be in a trust.

@renesteitz8613 3 месяца назад

If someone dies and theyre married but have some credit card debt, is there any way they can make the spouse pay for this debt, even if they're not on the cards? Asking for a friend.

@Ghostdogsurvivalist 3 месяца назад

Yes. There are lots of variables but the creditors are entitled to seek satisfaction from the estate of the deceased. It could also be no, if the deceased had no discernible assets.

@patriciajump9511 4 месяца назад

I can't listen. Can you remove the music?

@RG-hf4et 7 месяцев назад

The music is distracting.

@keningilbert 3 месяца назад

You never stated how to protect your car if not in trust and you are sued? It’s my understanding that there’s a huge difference between a revocable an irrevocable trust, so why didn’t you mention them? For instance, I was told that the only way to keep a retirement type of home from your assets is an irrevocable trust.

@roslynhancock1652 Год назад

music is too intrusive and unnecessary. I made a print-out of advice .

@Den-nu6pv Месяц назад

Of shore trust is the only way to keep a trust safe from someone trying to sue you.

@danacarlson5730 8 месяцев назад

Assets to not put in the trust

@danacarlson5730 8 месяцев назад

Ooops. Sorry.

@jeanettebonf631 3 месяца назад

I’m looking for a lawyer

@notmeee7302 3 месяца назад

So I guess it would have been good if you told us what actually goes into a trust if none of the valuable assets we have going to the trust. And if you don't put your trust in your actual name. Those assets are protected from being sued

@angelaasadi9283 3 месяца назад

Stop the music! It’s makes it difficult to listen.

@jiayufu6082 11 месяцев назад

Bank account has beneficiaries!

@Dbb27 3 месяца назад

Only if you set them up.

@Cat-hk4de 6 месяцев назад

Please redo this video without the music!

@richricogranada9647 Год назад

My 83 yo serious date, with adult children, is selling his house to move into my house, and I’m in my mid 60’s with no children. How can I protect my house from his offsprings in when he passes away?

@legacyplanninglawgroup5897 Год назад

The best way to ensure his wishes are carried out is to have him visit an estate planning attorney and have his desires cemented in a trust. That being said, it isn't immediately clear why his children would have any claim over your home.

@kevinhoffman8214 Год назад

they would only have a claim if your married or his name is on the deed

@priestesslucy3299 Год назад

@@kevinhoffman8214common law marriage is a thing

@mettamorph4523 6 месяцев назад

What about the common law marriage states?

@marik08 Месяц назад

background music is distracting. There should be no music accompanying instructional videos.

@user-be7er9px2r 5 месяцев назад

I can't hear you over the sound of the music so I left 1 minute in

@fleetbuddy1956 3 дня назад

Music is so distracting.. had to end video after 1 min.

@terrydarling4520 3 месяца назад

stop the music

@janeelmer3299 2 месяца назад

Your information is great, However, consider eliminating the music in the background. It does not add to your presentation--in fact in detracts from it.

@alanpadgett3213 7 месяцев назад

Music is a HUGE distraction

@edmor1086 3 месяца назад

Music is annoying.

@Islandgirl671 3 месяца назад

Great info but PLS cut the Music out! So unnecessary here!

@ConcernCitizen-w1y 8 дней назад

This old man says keep the Estate Planners out of your living trust and hire an administration Lawyer to add the dozens security steps to avoid the mistakes the estate planners make opening the door to inheritance and legacy wealth transfer thieves.