The requirements for TOD deed are listed as: 1. Property transferred must be less than 1 million dollars in value. 2. Your child(ren) must claim the property as his or her primary residence. Do both of these requirements need to be met? Can only one requirement be met?
Hi, this video explained well about the "Living Trust" and thank you very much for sharing this. Also, I would be grateful if you can share me where can I download a sample form of "Living Trust" because the facts that you discussed in this video are exactly the details I need for "Living Trust" that my brother need against to his immoral/playgirl legal wife for the protection of his son's rights/heritage.
Hi there, we're glad to help! If you live in California and are interested in setting up a Living Trust, please give us a call at (626) 307-2800. We can set up a free consultation to discuss your needs. Talk soon!
In addition to a Transfer on Death Deed, you can prepare the Last Will and Testament and spell out what need to be distributed upon the death of the Home Owner. REVOCABLE Trust verbage is almost similar to the Last Will and Testament without children.
When a beneficiary of a inherited property files to claim a property can he apply for a Transfer on Death deed at the same time or do you have to wait for the transfer to go through before filing the TOD form (I'm trying to avoid a second trip to the Recording Office) Thanks in advance.
Hello! Thank you for your questions! As of May 18th, 2020, the Recorder's Office is closed and would not be able to accept any sort of documents over the counter. However, if you do plan on going after they reopen their office, you generally can bring both deeds to the Recorder's Office and have them recorded one after the other or mail both deeds at the same time. -Karen
Question my dad passed away and his wife passed away to .My father had 10 kids none by his wife. But her kids got all my father assets. Is there anything we can do?
A TOD is substantially cheaper compared to a trust. Lawyering is a business, of course any good businessperson will want to sell the more expensive option.
Take the music out of your productions it is just a distraction making it hard to hear the words.
If your TOD beneficiary passes before you, then change the deed to your new beneficiary. Easy peasy.
that is if you are not sick like my father who has alzheimer. He can't do anything right now and that is the problem with TOD
@@xlyal8908 Have his POA handle the matter since he is incapacitated mentally.
You provided an exemplary explanation!! Thank you for your information.❤
Can you tell lawyers make more money on the living trust lol?
Yes, without a doubt I can tell!!!
Shut the music
The requirements for TOD deed are listed as:
1. Property transferred must be less than 1 million dollars in value.
2. Your child(ren) must claim the property as his or her primary residence.
Do both of these requirements need to be met? Can only one requirement be met?
Thanks guys !
What about stepped up basis? Does a transfer on death deed keep the original tax basis?
TOD gets a stepped up basis when the property transfers.
music is loud
Very helpful!
Hi, this video explained well about the "Living Trust" and thank you very much for sharing this. Also, I would be grateful if you can share me where can I download a sample form of "Living Trust" because the facts that you discussed in this video are exactly the details I need for "Living Trust" that my brother need against to his immoral/playgirl legal wife for the protection of his son's rights/heritage.
Hi there, we're glad to help! If you live in California and are interested in setting up a Living Trust, please give us a call at (626) 307-2800. We can set up a free consultation to discuss your needs. Talk soon!
What about capital gains on real estate with a TOD?
This is my question exactly do you know where I can find out this information?
In addition to a Transfer on Death Deed, you can prepare the Last Will and Testament and spell out what need to be distributed upon the death of the Home Owner.
REVOCABLE Trust verbage is almost similar to the Last Will and Testament without children.
I have a TOD. But I still have a mortgage. what happens to my house after death!
Pls remove the music background completely.
When a beneficiary of a inherited property files to claim a property can he apply for a Transfer on Death deed at the same time or do you have to wait for the transfer to go through before filing the TOD form (I'm trying to avoid a second trip to the Recording Office) Thanks in advance.
Hello! Thank you for your questions! As of May 18th, 2020, the Recorder's Office is closed and would not be able to accept any sort of documents over the counter. However, if you do plan on going after they reopen their office, you generally can bring both deeds to the Recorder's Office and have them recorded one after the other or mail both deeds at the same time.
-Karen
Your background music I s disruptive!
Hello do u guys have a book out
Question my dad passed away and his wife passed away to .My father had 10 kids none by his wife. But her kids got all my father assets. Is there anything we can do?
Not really since he married her all his property transfers to her. She can do as she wishes.
I think you miss understood the question.
Can the two female lawyers project their voice a little bit lowder and clearer? They are whspering so it is hard to hear them
Hello Kim! Thank you for your feedback. We will notify our production team and make improvements for future videos.
You guys sound depressed. Is the TOD deed really that bad? At least Jennifer said it might be right for some people, but in a very sad way.
A TOD is substantially cheaper compared to a trust. Lawyering is a business, of course any good businessperson will want to sell the more expensive option.
How come non of you have Asian Forenames ?????? 🤔