Thanks, Toby! Its true that traditionally young people are discouraged from proper long term planning. Waiting until you are on the verge of entering a nursing home is WAAAY too late to plan. Its like waiting to be rescued in the middle of a hurricane with your roof blown off and your home flooded. Being prepared isnt only about stock piling batteries and food. You need to think about a very long future, as well.
Very important knowledge , very easy to understand …..I am old unfortunately I did not look for this information when I was 22 years old l caa AD me to this country ….I want to leave a legacy not only for my descendants … also for other immigrants that do not have this valuable presentation in other lenguages.. Thank you
Thanks TM, I enjoy watching your video's, financial education is very much important in our daily business life and securing the future of our loved ones.
Hi Toby.... awesome content indeed! I have 3 questions.... for people living abroad, how can they apply an Asset Protection Plan + Estate Planning if they own companies and real estate in different countries? How can they create a Legacy for the future generation? Is this something that your firm can advice? Thanks!!
Thanks Toby. Very, very, very good stuff!!! I have been an Anderson client for a little over a year. Very satisfied with y'all and have recommended Anderson a lot.
If the grantor of a living trust dies, are there any required delays before the trustee or beneficiary can administer that trust. Any time or waiting period before the beneficiary can access their inheritance or sell the property inherited? Any legal administrative requirements the trustee need to know? Thank you very much for your excellent educational lectures!
Thank you so much for your question! We highly recommend you join us at our next Free Tax & Asset Protection Workshop Livestream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/taptoby
Thank you indeed, Esq. I’m glad I tuned in to your RU-vid videos. I’m quite interested in your channel and highly educative presentation. At the moment, I will try and seek out Truestee Companies to immediately begin with my Living Trust Program.
Thanks Tony for your presentation of Estate Planning. We have already a living trust made, but we want to put our primary residence to our trust in the context of asset protection, how do we do it. Please we need your advice. We live in NYC. Thanks Toby
Happy to help! This is actually a pretty common misconception but a living trust does not provide asset protection or separation from you individually. That being said, the primary residence is usually best served by setting up a land trust for anonymity, as an LLC can void the benefits (state and federal) associated with a primary residence, which should definitely be owned by your living trust. Finally, to fund real estate into a trust you need to deed the property into the name of the trust, which is a service our team offers! Reach out to your senior advisor, or become a platinum client and we would be happy to help!
can you tell us how do you make sure the Trustee will follow the Trust's instruction? when the trustee is someone who has no relation to you and has no reason to manage the asset properly. how do you make sure the assets will continue to grow and not get sold off by the Trustee and funnel it to themselves? does the Trustee get compensated? how?
Hi Toby I’m over 72 and more than 3/4ths of my remaining assets are in IRA accounts. I guess that avoids probate but I’ve left myself with a big income tax headache. If I die I’m ok leaving my IRAs to a living trust to support my spouse, or if my spouse dies before me to support my children. But my spouse will need someone to manage the IRAs, and creditor protection for my children is an important concern when their turn comes. Can you help?
I love watching your videos very informative. I have been watching videos on cash flow banking using whole life insurance and I was wondering if you have any thoughts on this also
I would love information like this relevant for England. Could you provide this or do you have any suggestions of where to look online for it? Thank you
Mr. Mathis, 1st of all thank you for your excellent videos, we like your recommendations, could you recommend a lawyer in Houston that's familiar with your structure. Thanks again. Jack Lee
Hi Jack, thank you for leaving your comment. You can request a FREE 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. Here is the link! aba.link/tobyss
You likely covered this but does step up depreciation work in this situation with a trust. Example: 300,000 current value rental house. Depreciated Basis down to 80,000. At passing of grantor and son inheriting house, new basis is now current value, $300,000 and he may sell it federal tax free? Not sure about state taxes. 😊
So a living trust is I think you said 7 to 10 thousand dollars, and then I guess there are on-going expenses by the trustee after you die. Can you set up a living trust instead of a will to transfer the property quickly without probate and not have the trust exist 365 years.
Who holds the trustee accountable? Who or what agent governs the instructions of a trust? I imagine some bank clerk making the decisions that Billy can't buy that Lamborghini or can go to college...
I appreciate your question about the primary residence in the context of asset protection. Protecting your primary residence is a crucial consideration. To provide you with detailed and personalized advice based on your specific situation, I recommend scheduling a free strategy session. Visit: aba.link/689e5b
Hello Tobi, I have a living trust, created in 2009, which owns my residence (California: market value $ 3.75 M with tax basis of $ 1 M) with me as primary beneficiary and my only daughter the secondary beneficiary. When I pass away the trust becomes irrevocable (right ?), does this trigger change in ownership (re-assessment of the house and subsequent increase in property tax under prop 19) ?
I am researching this too…so far from what I have read…I thinkIf your only daughter is the sole beneficiary of the house and lives in it as her primary residence then it is not reassessed…but if/ when she sells it she’ll pay capital gains tax, she cannot rent it our either. ( that was a change that prop 19 created)yes, upon death trust is irrevocable .
Hi, thank you for reaching out. I recommend scheduling a free strategy session to speak with one of our advisors, there we will answer your questions, review our services, and pricing, and create an asset protection blueprint. Please let me know if you have any further questions. Here is the link bit.ly/3JbMhRP. Or you may call to speak with an advisor at our toll-free line, 800-706-4741. Our office hours are Monday - Friday 8 am - 5 pm pacific.
how can you help me my hisband sies in england taylorsemmet process my inheritance money and the bank release the money and siobhan gibson tayloremmet said need grant from the court, before send to me .,how long it will take grant approval
After a generation or two, the trust company and the investors ‘managing’ the money make far more than the beneficiaries do. Family trees spread out and children have children and grandchildren and….the trustee holds on the the principal but the income is spread out over so many people it’s very little real cash.
If a person only has one child, one house, vehicle, retirement investment acct, checking & savings ~ is it even necessary to create a trust because the beneficiary is obviously the child on all those things? Next question is: if a person does create a trust, do they have to do a tax form each year for that trust in addition to their own personal tax form?
Even if you only have one child, all your assets must go through Probate without a Living Trust. This takes time and costs money, both of which can be avoided by creating a Trust. Additionally, any Estate that goes through probate is subject to challenges by individuals and creditors, which could affect what and how much your child ultimately receives.
