Five Common But Costly Estate Planning Mistakes For 2020
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- Опубликовано: 24 июн 2020
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This is extremely important content and much appreciated. When you’re a grieving parent trying to make sure your kids are ok and the bills are paid - it’s overwhelming and confusing
Hi Paul: Wishing your daughter a speedy recovery and all the best to your family! God Bless your family.
We need this. Lawyers and law are an enigma to most folks.
You have taught me a few things already. I'm on a crash course to probate.
The greatest contribution of your series of 20 videos (and the entire channel) is ability for the public to see that there are legal professionals that can guide them through uncertain times and have good discussions that lead to peace of mind.
Well said. Agreed.
Just awesome..so wonderful & COMPREHENSIVE
I guess I'm kind of randomly asking but does anyone know a good place to watch newly released movies online?
@Abdiel Yosef Flixportal :P
@Lochlan Abdullah Thank you, I signed up and it seems like they got a lot of movies there :) I appreciate it!
I want to thank you so much! I feel blessed to find your channel! I got the knowledge to do my trust now !
I’m a new subscriber and I’m learning a lot , I’m going to watch more of your videos to educate myself on real life issues !
Same here! Bing watching!
Wow, hope you & your family are well!! Just found your channel, subscribed & LIKING ALL shows. TY TY TY TY.. invaluable
Could you write out the five mistakes with time stamps? Thakn you!
Thank you, thank you, thank you for the in-depth education you provide. Your knowledge coupled with the practical experience gleaned from years and years of dealing with all sorts of clients and circumstances is invaluable. I just found out ( by accident) my last surviving parent passed over three months ago. A will and trust for both parents had long been executed and in place yet none of the beneficiaries were informed of the death. Trying to sort it all out now.
Super job Paul just started listening to your channel and it was a great deal of super information will continue to listen and will look back for some missed info thank you 🙏😉
thank you for all this info. This s a really nice things your doing for people. I am going through this right now so thank you and God Bless
We enjoy learning from you too and we appreciate your time,thank you👍👏👏👏👏
I have learned so much. I am greatly appreciated for your presentations.
I am enjoying your videos. Thanks.
Hi Paul,
I love your videos and your channel. I just recently discovered them and subscribed. This video popped up on my utube Home Screen. What is the name of this series, so that I can go back and retrieve the other videos in this series? Also are you still making videos? All the videos I see on your channel are from at least a year ago. Thanks.
I Iamb watching this in 2022 I hope you continue the good work that you have started we’re getting a lot out of it thank you so much
Thank you for dedicating the time to inform folks out there on TRUST matters😊
God Bless you.
You are helping so many people sharing this information
yes thank you. You are helping some, however Not the Most Vulnerable or Most in Need
This came in perfect timing. Finalizing my Estate Planning , thank you so much for the information.
New subscriber who is going back to find your other videos. I’ve already made one mistake in trusting my trust-building to the wrong people so want to make sure I don’t do any more.
Me too
This is sooo helpful!! Thank you!!
Thank you, I've learn a lot, although
Not understand all you said, but I got some of the important issue to seek out more help.
Hi Paul, how do you avoid constant bombardment from clients during probate? Being a complicated process w a lot of responsibility on the PR.
Thanks, I really appreciate you. Can’t thank you enough.
Thanks for the education! very important for a soon to be a retiree like me.
If a person is in a nursing home and you are the guardian. The overflow money is in your possession to buy your relative what they need. Then if the person dies and has no bills and no estate, can you, the guardian split the money among relatives?
A magnificent channel!
can the beneficiary be given different % ownerships? example 3 brothers get trust all different amounts?
Would you do a video with more details involving family limited partnerships. For example the reason you put 1 percent in the name of the general partner and 99 percent in the limited partners. Than as you gift each year why does the tax return have differing percentages. Where limited partners have say 60 percent. That’s so confusing. I have one and was told I wasn’t taking discounts over the years yet the limited partners now have 60 percent. Plus as general partner I’m supposed to have 99 percent. Why would 1 percent allocation make sense?
If you have some rental properties in one member Sole proprietorship LLC then do you just need to create assignment on that llc and say i am transferring 100% this llc interest into the living trust name the trust name, trustee and date and you are done? if you do this is you don’t have to take each property out of existing LLC and prepare a separate deed for each properties and record those properties individually under the trust name? or you have absolutely take all properties out of llc and re-record them under the trust ?
If they don’t have a prepaid funeral plan or an irrevocable life insurance policy that’s a good place to spend extra money. They can also buy Christmas and/or birthday presents for family members. iPads etc. rather than give money outright which is questioned by the Medicaid office.
I vote for 20 new videos each month! No pressure.
Margaret Robertson What is the name of this 20 video series, so that I can find it on his website or his utube channel?
I would please like for your vides talk about what all that you have to do teach us a little law like how you all keep up with all the Meany question like the move paper chase. set up some law class and to use this as a way for people to learn about all the rules and law of Tax's please! from Texas.
I am Canadian, and I have some property in another country, can I include them in a trust I set up in Canada. Please answer. Thank you.
Thank you so much 🙏
You're welcome 😊
Paul, do you have any referral for California colleagues who you know is as good as you?
Who is a good estate planner in the Dallas texas area?
Paul Thank you so much for the information you have shared with us.
It has been a great gift to me to find your videos
Thank you for giving back to the community
God Bless you!!!
You mentioned something about a five-year window when selling your home that’s in a trust… Can you sell your rental property or your home that’s in a trust at any time without penalty?
Your videos have been incredible. Your knowledge is just what I needed as I try to plan... I’ve completed my preened arrangements so the decision to prepare a will or living documentation would be best. I plan to listen to your videos over and over again... God bless you... . My son is a corporate attorney, not trained in estate planning, right? Lol
Informative to a degree. However, he NEVER Addresses How Irrevocable Trusts Are Presently One of THE MOST COMMON "LEGAL TOOLS" (Most Violate State and CMS Laws) TO COMMIT FINANCIAL ELDER ABUSE. Many Abuse Various Forms of Irrevocable Trusts- as “partners”, "spouses" (But not legally married) and "Caretakers"- to CRIMINALLY TAKE ADVANTAGE, Especially From Others with Mental Incapacity. Some States, Namely, Florida (Seems Not To Enforce Its Own Laws) and Several Others- Allow Criminals TO BLATANTLY STEAL FROM (The Elderly, The Mentally Incapacitated, The Terminally Sick) the Original Trustor (Settlor if incapacitated) & All Beneficiaries as well as Steal From ALL US TAX-PAYERS. BY USING Irrevocable Trusts- Lady Bird Deeds (Florida), QIT’s, etc- To Qualify for MEDICAID (LONG TERM CARE BENEFITS) while NOT QUALIFIED by Other Requirements, Specifically MAXIMUM INCOME or Transferring Real Estate to “Self-Dealing” Irrevocable Trusts (Trustor is the same as the Beneficiary). AGAIN THIS IS ONE OF THE MOST COMMON FRAUDULENT FINANCIAL ELDER ABUSE SCAMS IN THE COUNTRY. PLEASE LOOK NO FURTHER TO ANY LOCAL NEWSPAPER IN SARASOTA COUNTY FLORIDIA, ORANGE COUNTY FLORIDA OR SEVERAL OTHERS- ALL ADVERTISEMENTS ARE FROM "TRUST & ESTATE PLANNING ATTORNEYS" MEDICAID TRUST ATTORNEYS’.
#FLORIA#1MEDICAIDFRAUD
Should my IRA payable to my living trust at death as beneficary also have a secondary beneficiary named to provide against the trust not in existence at my death?
What is a ball park price for an attorney to charge for handling the probate of $30,000? Thank you.
if one of spouses gets tia and recovers.can they be allowed to put things in trust.
Thank you for all your great info.
So helpful for people like like me over 65. How can I find and can you suggest an attorney in Phoenix AZ
Thanx again
Do you answer the comment section individually ?
I am going through hell with my mother's estate and her other 4 children. I truly believe that a will should be updated every five years to reflect changes in family and life. If that person is no longer capable to update the will than the last will is the will period good bad or indifferent.
As a single Mother I put my adult son (who resides with me) on the deed of my home. I live in NC not sure if you can do it in all states.
How long it takes Trust to be effective
Thank you very much for the very educated sharing. Your unselfish sharing God Bless you & love ones.
Do you have summary notes?
Thank you
You're welcome
I have a son with popular.He is married to areal spend thrift I’m. In 90s friends at this age are gone. What’s my choice for filling the roles
Is it true that if my mom dies do we need to pay medical bills?
Estate Tax Exemption - (1 or 2)
My spouse files an estate tax exemption return for me when I die. All of our assets go to my spouse into a Surviving Spouse Living Trust at my death. At the death of the surviving spouse, do we have two estate tax exemptions to combine, or just the Surviving Spouse’s estate tax exemption?
Can I make a real estate purchase for the house in the same area that mother mother sister sold our house and I was in a comma when she sold our home. I have been homeless since I woke up from comma and my sister had Mom and dad was going crazy and then his health was really rapidly deteriorating. I was informed that dad died on the 22nd of November 2022 and my sister called on 12/28//22. Told my daughter that she couldn't get the insurance check for Dad. Because I have it.
I'm selling my generational family land in nc for another plot of land in in our same family and same state. If it's a relative we buy from, are we grandfathered?
what do you mean by grandfathered?
@Randall Swanson According to 1021 Exchange doesn't the second proporty be valued higher than the first. Please correct me if I am wrong.
@@FaridaSultanaIchoosesuccess Maintaining original family liberties to the land.
Is there a difference in cost bases step up between assets from a trust vs a will?
I am a non-related, sole heir and successor trustee who expects to be challenged by former non-related step-children of the widowed trustee. In addition to the protections afforded by the trust language itself, are there any other layers of protection the trustee could implement now to further enhance the trustee’s ability to see that her wishes are carried out? Ways to minimize court time and legal costs? Ultimately, the trustee feels that all is in order to win any challenge but at what expense? Do courts allow for the presentation of solid evidence so that an inexpensive summary judgment may be rendered?
Look at transfer on death deeds for real estate. Not all States allow but if they do the deed goes to whomever is the remainder man without going to probate. I have a friend in your situation and it’s gotten messy. Two step children who received assets when their father died. Some went to his mother and the understanding was everything went to her children (my friend and his brother). Even with a will the step kids are challenging the will.
1. Not getting the right guidance.
2. Not considering the need for LTC
3. Not considering probate/succession.
4. Consider “reasonable” contingencies.
5. Disregard for tax considerations.
The live chat should be at the end of the video.
Who is a good estate planner in New York City. I need your webcite concerning this topic asap. Thanks or a phone where i cn cal ad ask important questiins.
I want to protect what I do have, but i don't want to be in a stinky medicaid nursing home and be tied and drugged to a wheel chair. So do I have the wrong opinion of the nursing home. I also don't want to lose control of my accounts. So I'm really confused as what to do.
Hello. My name is Valentina.I am married. My husband is very sick and soon will need long term care. He is 70 years old.
Together we have a good house and some annuities . Is it helpful to divorce him and put the house and the annuities in my name to save the assets
What a terrible way to live. Having to keep your balance below a certain level. How did we get to this point? Way too many regulations. Insanity.
I'm there..2 deaths recently & getting the money from 2 houses will ruin life & upset everything. Money is temporary, but MEDICARE Is forever. It's a big deal!
If a will was created 40 years ago when the heirs were minors and a trustee was named, will the trustee stipulation be ignored and will still valid?
🕊🇺🇲💕
Itis very confusing listening ,mixing livechat with the intended information of the video.
They are on live chat, they should rightfully get preference.
Did I understand you correctly that a child who was given up for a legal adoption can years later inherit from the biological mother (who is no longer legally his/her mother) even if he/she isn't mentioned in the. biological mother's will? That doesn't make sense and would be a huge can of worms. Many adoptees don't even know who their biological mother is and has not been a part of her life. Are you sure?? (Assuming the child in the questioner's question was LEGALLY adopted by the grandmother.)
This should be titled "random questions"' good stuff but way off topic stated
If you die, can’t your child just keep paying on say for example, your vehicle and mortgage without going to probate
Video is terrible as it skips and jumps making it hard to follow and to understand. It needs to be redone to make it understandable..
Why do you be procrastinating on the questions? You always say you want to get to the questions but you talk a lot of fluff before each topic! Please get to the topic ASAP. You can be more helpful to your listeners!
You take too long to get to the point of what you are really supposed to be doing.
Knowledgeable but chats too much! Over 6 minutes into this and you haven't got to the topic...