Trusts are overrated. The estate attorneys tell you it will simplify things. It doesn't. It generates income for attorneys and CPAs. Die with nothing...which the way the US is headed we will all easily accomplish that!😂
you must be an attorney, seriously, most do not need a trust, let's put it this way, for what attorneys charge for Trusts, to average have nothing folks, it is not worth the effort, no advantage, except to boilerplate scamming attorneys.
In CA you NEED A TRUST - you cannot pass/transfer a home with a Will. The Will will go through Probate if you have any real property. Also, when you have a trust, it can hold life insurance and is the best way to protect your beneficiaries when passing any money or assets to them.
Isn't that just insane? We have a will and a friggin' trust. And we have many thousands of a $400 unplanned expenses. No, we are not ultra-rich just ultra cheap.
@@brandonjanssen1981 , my 59-year old single neighbor passed away in mid-February. He never married, nor had kids. He also lost his job back in 2008, never got back to a good salary and was never again on great financial footing. Anyway, things are tied up in probate. His elderly parents are still alive, living in a retirement community, and they’re waiting on the process to play out. It’s been almost three months. Not sure how long they’ll have to wait before they can put the house on the market. Heck, I think they still haven’t been able to cancel his cable, Internet and cell phone service.
@@mitchrodee The bank will probably get the house and tax payers will probably subsidize the cremation. Which as a taxpayer, I think it's the least we should do as human beings.
Seems a bad will, is worse than no will at all. Is this right? A parent could list some things to two of the children, but nothing specific to the other 3 per say. That seems worse than everything evenly divided across the board.
Regarding the video, it's interesting to learn about the importance of having a will and the consequences of dying without one. It is shocking to learn that more than half of Americans do not have a will, which could lead to their loved ones being disinherited, eviction from the family house, or having to pay surprise tax bills. The issue of not having a will seems to be more prevalent among non-white adults, with 72% of non-white adults not having a will, compared to 45% of white adults. It's surprising to know that the cost of drawing up a will could range from a few hundred dollars to a few thousand dollars, depending on the complexity and wealth involved. It's also important to note that state laws vary greatly, and there is no one-size-fits-all formula for how assets would be allocated based on what's in a will. It's necessary to coordinate all estate planning in one place, including retirement accounts and life insurance policies, which do not pass through a will. As a lawyer, it's my advice that everyone should have a will to ensure that their wishes are followed after death. Creating a will can be a tough decision, especially when there are complex family dynamics at stake. However, knowing that a will can and should be updated as life happens, it can be viewed as a work in progress. It's essential to seek advice from a local estate planner in your state since state laws vary greatly, and there are specific state rules on the validity of a will. It's also crucial to make sure that the will is signed and dated and that witnesses sign it, ensuring that all rules are followed.
If there's no will then you don't get the family's house then you're also not on the hook for the mortgage right? And the bank just takes it because you don't have the right to sell the property? Also regardless of the will, are you also inheriting their credit card debts and any other debts or that just goes away when they die?
suppose to do a trust. when you do a trust you also have a will but if you make changes you have ot pay for changes trust and if you move you probably have to do another trust in that state or move back to the state you did the trust - so which state the trust is done os where they do the probabte court
Utterly ridiculous that a live-in boy/girlfriend would inherit anything. You'd have to be a "special" person to buy a house and a car with a boy/girlfriend and not have a will. No sympathy.
In winter these might not lift as well. So watch. After 3 years lifting strength may go down. So replacement might be needed. So big spoiler adds down force or extra weight for traction? Both? 😂 50lb bag of sand an option, but not cool.
Maybe someone can explain this to me. I have registered beneficiaries for my retirement account with my investment company. Ashlea Ebeling says a will doesn't cover retirement accounts. Is my *having told my investment company what my beneficiaries are* enough (legally)? Thanks.
It's all a scam. After the person dies, they cannot complain. The attorneys will "marshall the assets" costing money. An attorney will charge you a few thousand dollars to clear this up for you. As I said..a scam
I am on SSI. I live alone in a section 8 apartment. I am not married. I am 36. I own nothing of value, except my old car that has over 130,000 miles. I don’t have a will, but is there even a point?
I'm not sure but I don't think debt is inherited. It goes away when a person dies, but I'm really not sure how that may or may not work. May depend on the situation.
