9 Mistakes Not to Make with a Revocable Living Trust 1. Failing to Fund the Trust 2. Having a poorly written Trust 3. Mistakenly thinking that Revocable Living Trust assets aren't used for Nursing home expenses 4. Mistakenly thinking that Revocable Living Trust protects you from liability/creditors 5. Not having ancillary documents in support of Trust (power of attorney, durable power of attorney, successor trustee, pour over will) 6. Not realizing your Trust doesn't control where your IRA, Life Insurance, Annuities go when you die 7. Naming your Trust as the beneficiary of your IRA when you don't need to 8. Failing to update your Trust when something changes 9. Failing to subscribe to this channel
Wow, some good points. We got a pour-over will into a Testamentary Trust attorney who said funding trust was not needed? NJ probate is very efficient not like some other states.
@@reberyan7879 I never heard why a car would be in a trust may be some very valuable car. I have an NJ pension only your spouse gets half the pension when she dies finished like Social Security. I'm not sure about kids under 26 y/o far as pension benefits depend on your state.
@@reberyan7879 It sounds like it's a trust "funding" issue as opposed to the actual language in the trust document to get your vehicle in your trust and to set up the beneficiaries of your pension the right way. I'm not sure what state or jurisdiction you are in, but it might be worth a call to your attorney to see if in fact anything needs to be changed in your documents.
No worries NICER Financial Elder Abuse Defense Administration Network Forgery Proof Latin Law Permission Ledger Arbiter Interdiction Trust is around the corner.
The Toby Mathis Anderson Advisors Trust is just as easy to forge by inheritance thieves, and now Anderson is Advising us to remove our names from out property so Land Trust anonymity thieves can steal our Real Estate, when we hide from widows and orphans and run from slip and falls.
I'd like to hear more about what to do about credit or credit protection. I am a widowed retiree. My only income is pension and SSA that's slightly less than $50K combined. I don't own any real property. I only have personal property; 2 late model vehicles and my household goods/clothing/books and other miscellaneous items as assets to pass on. But, I do have several credit cards - approximately 1/3 of my income is credit card debts becauseI travel a great deal. My credit accounts are all open and current. I'd like to know how I can protect my beneficiaries from creditors after I pass away?
Great advice. I would only add that one needs to find an expert attorney who drafts up the documents. I lucked out and had a very experienced attorney who bounced things off of me that I hadn't thought about. An amazing guy. I am grateful for his work.
I review all my financial affairs at the beginning of each year. I also go over those affairs and my final wishes with my children at that time so they are well informed and they each understand my final plans
Thanks so much for this video!! A living trust does not necessitate any probate procedures. When the Trust Deed's events, such as death occur, the Trustee is instantly empowered to administer the deceased's assets.i am Currently living smart and frugal with my money. Saving and investing lifestyle in the financial market made it possible for me this early even till now earn monthly through passive income.
RLT is great. Walked into bank with copy of trust, parent's death certificates, my id. 5 minutes later, "what would you like to do with your account sir".
RLT is too easy to forge, a greedy sibling changed it, cost half the estate litigation. Next time around getting a NICER Financial Elder Abuse Defense Network Approved Forgery Proof Legalese Administration Lawyer and their team of Allied Legal Professional Trust Guardians. Who defend vulnerable grantors and defend grantees with a Latin Law Permission Ledger Recorded and Monitored Interdiction Trust Complete Administration.
Thank you! I took tons of notes! My Dad created a RLT in 2012 and thought he'd done a great thing. After the last 3 years in assisted living, he caught CV-19 from staff and died in Oct 2020...leaving me with figuring out the labyrinth of RLT he left behind. He was never great with details so "funding the Trust" was the biggest kink to work out. I now want to be sure I AVOID leaving those headaches to my daughter when my time comes. Your videos are now on my "to do" list!
@@ruthtorphy2204 I'm having issues now with one of my mom's accounts that wasn't placed into the Trust. The institution that holds it seems unable to understand the Pour Over Will document that is part of her trust. This allows whatever was not placed into the trust in the trust after death with a small account affidavit. Somehow they are still having their lawyers disect it or they are incompetent.
I feel your pain we paid a million In billable litigation hours because our $8000.00 estate planner only funded it and didn’t include the dozens of steps in as complete administration including 15 step’s minimum to transfer, distribute and settle it. FYI lesson learned hire a NICER Inheritance Administration Trusted Advisor not an estate planner.
I transfer what I can to my grandchildren now. In the past I had it set up that they would inherit funds and then I realized it is now that they can use the help.
great video. i love your commitment to educating our friends and family...doing all you can to help people and save families from aggravation, expensive costs, and time.
Mistake #7 is spot on, and in my opinion you are exactly correct and gave an ethical and honest description of when it makes or does not make sense. Too many people name their trust as the beneficiary of their IRAs when there is no need to do so. Unfortunately, many times they do that because their attorney recommended they do it....especially when the attorney has convinced the clients to list the attorney as co-trustee in the document and will be collecting his/her fees down the road. And of course that fee is typically based on the size of the trust, so some attorneys want to direct any and all assets to the trust to increase their future fees. I have seen this many times in practice and it’s “funny” how it occurs with the same attorneys over and over.
I just met with an estate planning lawyer last week and went in assuming I'd create a Trust (side note, if pay a few thousand for them to write a trust the language better damn well be correct) anyway, htey mentioned something that I hadn't heard of before for a home, a Beneficiary of Deed, instead of creating a trust, I left totally confused and the pros and cons of a BOD vs. a Trust, other than the fact it cost double to write a trust.
hi, thanks for your helpful video.If I only want to change the TRUST name, and I Have the word document from the lawyer who made our trust,can I just edit the TRUST name, print it out, sign them and change all the assets to that new revocation trust name?I don't see why I need to hire a lawyer to just get this simple step done. Thank you for your advice.
Our Estate Planners mistakes cost us 50% in Litigation billable hours and other related costs. So 5% to 10% in validation fees makes more sense than the easy to forge estate Plan. We need Administration Lawyers who innstall services instead of Estate Planners who install easy to forge documents.
Our greedy trustee changed it at the last minute and the estate planner who promised peace of mind refused to help when it cost half our parents estate in litigation related cost including phony billable hours.
I could use some info, so if my mother is trying to set up a living trust fund who writes the trust & then when she passes away who do i show the living trust fund so that i won't go through the extra procedures. Do i need another person involve & can she get someone to write the fund for us? (Only offspring)
We are waiting for Mr. Rabalais and all the Estate Planners to advance their careers to NICER approved Inheritance Administration Lawyers to avoid the Estate Plan Trust that cost my family a million dollars in Trust Probate.
Number 10. Not getting the Forgery Proof NICER authorizes Administration Lawyer's 33-year reformed Permission Validated and certified Trust Administration.
Listenening to you and your knowledge in this field makes me wonder how it is possible to be so well versed in any endeavor. I am sharing your expert knowlede with family members who will in turn share with other freinds. Thanks again.
My mother's Will is a State Secret, and she changes it frequently depending on who she likes that week. She's 96 and is still changing her Will. What is your advice....
Thank you so much for doing a good deed which really what you are doing is giving back to communities for free! As always, what's good with tons of knowledge/power and not sharing & using power to make a difference to the world we live in? Your sharing of your insights & knowledge is greatly appreciated!
i need help. i have a living revocable trust, a pour over will, and vangard needs a letter of testamentary. is it ok or legit to probate my husbands will?
Now that National Institute of Certified Estate Planners bravely caveated the RLT failed, getting one would be the mistake without NICER approved Inheritance Administration Lawyers.
Great video! Regarding Medicaid, they would need an Irrevocable Living Trust before the clock starts ticking. They'll need a certain level of assets in that ILT for a specific amount of time before Medicaid can not hold it against them. Again, great video!
Agree 100%. When working with my clients and discussing Medicaid planning with irrevocable trusts, the threshold question is whether or not they want to give up control of those assets to another trustee in order to shelter their assets. Most aren't willing until they see an actual medical issue on the horizon.
As a product dependent on an irrevocable trust, I can honestly say that leaving a family member as an executor is probably not a very good thing. The fact that when the trust was designed, it was due to the fact that Medicaid and prenuptials were not very trusting so my parents and lawyer thought the siblings would be the best executors for my "Well-Being" after they had passed on. Was this a good decision? No! Turned out you can only have one executor and after the dependent of the trust has deceased, the remainder of the trust goes to the three trustees which asked to date, the trust is now on its second executor and as the beneficiary, I am concerned for my future.
@@theplainenglishattorneyDon't know what state you are in, your trust automatically turns into a IRREVOCABLE TRUST, if OR once you BECOME, INCAPACITATED OR DEATH! I just went through this with my dad, who is Incapacitated! Yet, while you are the GRANTOR/CREATOR/TRUSTOR you can UPDATE, MODIFY as often as you want to. Yet, if a real estate property, still allows you to claim interest in it, yes keep it simple! Yet, if you are not still able to claim that interest. That home should have a second person on that deed along with yourself, for cheaper property tax, benefiting purposes.
New Subscriber. Thank you for this video. Quick question pls. I have my Roth IRA set up to reinvest. My intention of opening the acc was simply to save for retirement. The company has a zero maintenance & interest fee. I called to asked if my money is safe, they said nothing is guaranteed. Question is, How can I just contribute without the risk of losing my IRA money to any investment ups and downs? Ex. just like a regular bank's savings/ checking account. I would appreciate a reply when you get a chance. Thank you.
Hire a Forgery Proof Legalese Administration Lawyer putting their client's needs ahead of their own in a few months who protect vulnerable seniors and defend grantees legacies like Paul Rabalais should he choose to advance his career adding 100 times more value in a Legalese inheritance administration.
i LIKED YOUR VIDIO THANKS, I HAVE A REVOCCABLE LIVING TRUST AND MY HOME IS IN IT, WHAT TO DO WHEN MY TRUSTEE SELLS THE HOUSE. SHOULD THE TRUSTEE DIVIDE THE MONIES BETWEEN THE BENFS.
My partner and I just applied for Medi-Cal (Medicaid) to continue his stay in a Nursing home after the 100 days of Medicare (2023). We have a Revocable Living Trust set up in 2013 (to avoid Probate), we have assets of $103K, one car, one home (well under Medi-Cal limits) and some some stocks which we hope will be protected from the 6-year "Look-Back" of Medi-Cal. So I guess need to talk to lawyer who set up the RLT, but hope we have done it right.
OK, sir, this is the third video that I watch from your channel since yesterday. I won't make the # 9 mistake. So here you go I'm your new subscriber. BTW my mother-in-law passed away last September (my father-in-law passed away in 2000). My wife is in the middle of processing the transfer of the living trust that they left (2/3 ownership of the house) to her name. We were so glad that her late parents had a living trust (written about 25 years ago) transferring their ownership to her. Just sharing our experience on living trust.
Thank you for summarizing many issues and or mistakes associated with establishing either joint or individual revocable living trusts. I have stumbled through many of these issues and others.... in my quest for the right combination of vehicles to use to satisfy my personal and unique concerns. If anyone is detail oriented and able to reason thru these various situations, there comes a point where one needs to take some action and decide what vehicles to put in place and do the follow thru necessary. So having said that how does one go about brining all of the concerns you have raised along with ones they have you did not cover and taking appropriate action and get it done! It will never be perfect but without action it will never be done. So is there a master checklist that in theory will bring one to that point of taking action?
My question is is how would you feel if you were loved as a beneficiary on the estate and a trustee steals the estate for their self and claiming to be the beneficiary as well please explain how did they get away with being both with an item that is not theirs using your identity your social security number to be beneficiary as well as the trustee I am very bored how would you feel if this was done to you how would you feel if you did not see the true trustee estate papers please explain this when a power of attorney is over a trustee really floors me because I had no idea this had been done for someone to say someone's incompetent even if they have a disability who's handled her own affairs most of my life but when a lawyer does not listen to beneficiary and walks all over them then the trustee has misled that lawyer into believing in something without your knowledge
I can see how the lower income folks get the short end of the stick with a living trust-- it cost money to have one, while they don't have the money to have one for their family, then this type of information is basically restricted to a lot of people, not to mention complicated.
@@kalebott9883 Our parents Trust Lawyer's estate plan cost a million dollars in billable litigation hours, so we're waiting for the NICER approved Interdiction Living Trust Administration Trusted Advisors, and Allied Legal Professional Trust Guardians complete inheritance transfer, distribution and settled administration. Costing Parents a Prebate Nickel, or Grantee Beneficiaries a NICER Probate Dime, to avoid the Failed Estate Plan Quarter to 50% in billable litigation hours. So, everyone gets the same end of the stick, and Drew Barrymore and Cher's heirs get their shares.
@@kalebott9883now that the ethical lawyers are caveating the estate plan Trust fails the only options will be a Prebate Nickel for Grantors, a Probate Dime for Grantees and a Litigation Quarter for greedy grantees who want to fight in court,
It's easy our greedy trustees, grantees and inheritance hijackers are stealing our inheritances or costing 50% in Billable Litigation Hours, erase your sibling's names and you get it all. Until Notay Index Crime Enforcement Regulatory 837PC Citizens and Sheriffs go on call to arrest you around the holidays. With NICER forgery proof Title Holding Entities, like a 33-year reform Interdiction Living Trust, Permission Ledger DPOA, and Schedule A Counterfeit Free LLC so Brew Barrymore and Cher's Heirs get their shares.
Thank you for these videos. Do you have a video discussing assets that go through probate and those that do not? For example does an IRA, Roth IRA, life insurance and other similar accounts that have a beneficiary go through probate?
Les; if you name a beneficiary and draft your trust well; there shouldnt need a probate. a trust is what the settlor wants or the person who creates the trust
They are countable assets towards total Estate value, but are distributed directly ( by pass probate) to the named beneficiary on the IRA/ life insurance account (not via a will or trust )
Could you do a video on how to handle the affairs of someone that doesn't have a will or trusts set up? My son passed away and I'm trying to handle is end of life affairs for his daughter's mom cause they weren't married.
No, we're not we've been lied to we can't do this without a Law degree or the Latin Law Crime Interdiction Administration to prevent crimes that ruin our families like forgers, counterfeiters and Trust embezzlers. Hire NICER Forgery Proof Approved Inheritance Administration Lawyers,
My bad experience - A large burden was shifted from Settlor to Trustee with lots of conditions on beneficiaries to receive $$. Would have been nicer if Settlor had just designated percentages or amounts.... Also, whoever might have power of attorney needs to be informed. Regarding land, can trustee just quitclaim land to the beneficiary & let them deal with sale or whatever?
Great content! Thank you for your insights on mistakes in preparing a living trust.. quick question, I hear and have read that there are attorneys that say don’t put your real estate in a living trust?
Why do i need a will or a living trust, my pension, 457b, two houses and cars, accounts have my wife as beneficiary and my kids as secondary benefits on everything. Would a simple will be needed?
Hi lPaul- I hear you - say you are in Louisiana- however- I amin London and I am very o pressed with your knowledge - I would very much appreciate Nd like to have a living trust properly written. Can you help by using a template? I am nearing old age! Needs to sort out my affairs. Many thanks!
In Australia if you go to a nursing home the premium paid is refunded when you leave (die). The residents pay ongoing fees for their care. That's for private nursing homes. You can go to a government nursing home but it's best avoided unless you're broke. I'm not sure why I'm watching this on Xmas morning .
9 Mistakes Not to Make with a Revocable Living Trust
1. Failing to Fund the Trust
2. Having a poorly written Trust
3. Mistakenly thinking that Revocable Living Trust assets aren't used for Nursing home expenses
4. Mistakenly thinking that Revocable Living Trust protects you from liability/creditors
5. Not having ancillary documents in support of Trust (power of attorney, durable power of attorney, successor trustee, pour over will)
6. Not realizing your Trust doesn't control where your IRA, Life Insurance, Annuities go when you die
7. Naming your Trust as the beneficiary of your IRA when you don't need to
8. Failing to update your Trust when something changes
9. Failing to subscribe to this channel
Wow, some good points. We got a pour-over will into a Testamentary Trust attorney who said funding trust was not needed? NJ probate is very efficient not like some other states.
How do I update trust when I have already paid attorney and he didn’t add my car or pension
@@reberyan7879 I never heard why a car would be in a trust may be some very valuable car. I have an NJ pension only your spouse gets half the pension when she dies finished like Social Security. I'm not sure about kids under 26 y/o far as pension benefits depend on your state.
@@reberyan7879 It sounds like it's a trust "funding" issue as opposed to the actual language in the trust document to get your vehicle in your trust and to set up the beneficiaries of your pension the right way. I'm not sure what state or jurisdiction you are in, but it might be worth a call to your attorney to see if in fact anything needs to be changed in your documents.
Thanks for the summary. 😀
You're a great teacher with the easy to forge Trust.
No worries NICER Financial Elder Abuse Defense Administration Network Forgery Proof Latin Law Permission Ledger Arbiter Interdiction Trust is around the corner.
@@KennethKennedy-n7o Using citizens rights to arrest unauthorized document changers.
The Toby Mathis Anderson Advisors Trust is just as easy to forge by inheritance thieves, and now Anderson is Advising us to remove our names from out property so Land Trust anonymity thieves can steal our Real Estate, when we hide from widows and orphans and run from slip and falls.
Great info, also get a trust before demensia sets in .
I'd like to hear more about what to do about credit or credit protection.
I am a widowed retiree. My only income is pension and SSA that's slightly less than $50K combined.
I don't own any real property. I only have personal property; 2 late model vehicles and my household goods/clothing/books and other miscellaneous items as assets to pass on. But, I do have several credit cards - approximately 1/3 of my income is credit card debts becauseI travel a great deal. My credit accounts are all open and current. I'd like to know how I can protect my beneficiaries from creditors after I pass away?
Great advice. I would only add that one needs to find an expert attorney who drafts up the documents. I lucked out and had a very experienced attorney who bounced things off of me that I hadn't thought about. An amazing guy. I am grateful for his work.
Please if you would share your amazing guy
I review all my financial affairs at the beginning of each year. I also go over those affairs and my final wishes with my children at that time so they are well informed and they each understand my final plans
You're amazing..!
Thanks so much for this video!! A living trust does not necessitate any probate procedures. When the Trust Deed's events, such as death occur, the Trustee is instantly empowered to administer the deceased's assets.i am Currently living smart and frugal with my money. Saving and investing lifestyle in the financial market made it possible for me this early even till now earn monthly through passive income.
Love that 9th tip. Took me off guard. I laughed out loud. What a great closing. Loved it.😍
RLT is great. Walked into bank with copy of trust, parent's death certificates, my id. 5 minutes later, "what would you like to do with your account sir".
RLT is too easy to forge, a greedy sibling changed it, cost half the estate litigation. Next time around getting a NICER Financial Elder Abuse Defense Network Approved Forgery Proof Legalese Administration Lawyer and their team of Allied Legal Professional Trust Guardians. Who defend vulnerable grantors and defend grantees with a Latin Law Permission Ledger Recorded and Monitored Interdiction Trust Complete Administration.
Thanks, great video. Please make another one; the "Best way to protect the assets from Nursing homes"
How about taking care of them at home like we did for two sets of parents without scamming our fellow tax payers.
Thank you a lot for this video. This is very interesting and informative. Keep posting like those amazing videos, this is awesome.
Thank you! I took tons of notes! My Dad created a RLT in 2012 and thought he'd done a great thing. After the last 3 years in assisted living, he caught CV-19 from staff and died in Oct 2020...leaving me with figuring out the labyrinth of RLT he left behind. He was never great with details so "funding the Trust" was the biggest kink to work out. I now want to be sure I AVOID leaving those headaches to my daughter when my time comes. Your videos are now on my "to do" list!
This Jan we had same issues. Nothing was actually placed in the trust.
rip to your Dad💙
@@ruthtorphy2204 I'm having issues now with one of my mom's accounts that wasn't placed into the Trust. The institution that holds it seems unable to understand the Pour Over Will document that is part of her trust. This allows whatever was not placed into the trust in the trust after death with a small account affidavit. Somehow they are still having their lawyers disect it or they are incompetent.
Your better off not owning anything, it’s costs money and you don’t know if the law will change
I feel your pain we paid a million In billable litigation hours because our $8000.00 estate planner only funded it and didn’t include the dozens of steps in as complete administration including 15 step’s minimum to transfer, distribute and settle it. FYI lesson learned hire a NICER Inheritance Administration Trusted Advisor not an estate planner.
I transfer what I can to my grandchildren now. In the past I had it set up that they would inherit funds and then I realized it is now that they can use the help.
Agreed
Awesome Grandfather!
Absolutely. You can show them how to spend and invest. You can give or receive tax free as long as it's not more than 15K a year.
So true! I helped a son buy his first house. It means a lot more now and truly can be life changing !
@@jesse957 not awesome, leave the money to his own children. Don't skip generations.
great video. i love your commitment to educating our friends and family...doing all you can to help people and save families from aggravation, expensive costs, and time.
really simple , informative , and practical THANKS
Yes, thankyou for getting this out…
Very informative video thank you for these tips and advice.
Love your videos 😃and of course no 9 is the most important mistake 😃thank you for the advice have a blessed day ❤
Mistake #7 is spot on, and in my opinion you are exactly correct and gave an ethical and honest description of when it makes or does not make sense. Too many people name their trust as the beneficiary of their IRAs when there is no need to do so. Unfortunately, many times they do that because their attorney recommended they do it....especially when the attorney has convinced the clients to list the attorney as co-trustee in the document and will be collecting his/her fees down the road. And of course that fee is typically based on the size of the trust, so some attorneys want to direct any and all assets to the trust to increase their future fees. I have seen this many times in practice and it’s “funny” how it occurs with the same attorneys over and over.
Thanks ouattorney did just that, so we need to change that by amendment or reinstatement?
I just met with an estate planning lawyer last week and went in assuming I'd create a Trust (side note, if pay a few thousand for them to write a trust the language better damn well be correct) anyway, htey mentioned something that I hadn't heard of before for a home, a Beneficiary of Deed, instead of creating a trust, I left totally confused and the pros and cons of a BOD vs. a Trust, other than the fact it cost double to write a trust.
hi, thanks for your helpful video.If I only want to change the TRUST name, and I Have the word document from the lawyer who made our trust,can I just edit the TRUST name, print it out, sign them and change all the assets to that new revocation trust name?I don't see why I need to hire a lawyer to just get this simple step done. Thank you for your advice.
This needs to be taught in schools . Thanks for all of the great information.
LOL it didn't work so the Lawyers are learning the Latin Law Crime Interdiction Administration you can learn on Living Trust Lawyer's Pragmatic Posts.
No it doesn’t it fails with estate planners so how can we do it without Latin Law Crime Interdiction administration lawyers?
Thank you for this video!
Our Estate Planners mistakes cost us 50% in Litigation billable hours and other related costs. So 5% to 10% in validation fees makes more sense than the easy to forge estate Plan. We need Administration Lawyers who innstall services instead of Estate Planners who install easy to forge documents.
Our greedy trustee changed it at the last minute and the estate planner who promised peace of mind refused to help when it cost half our parents estate in litigation related cost including phony billable hours.
I could use some info, so if my mother is trying to set up a living trust fund who writes the trust & then when she passes away who do i show the living trust fund so that i won't go through the extra procedures. Do i need another person involve & can she get someone to write the fund for us? (Only offspring)
We are waiting for Mr. Rabalais and all the Estate Planners to advance their careers to NICER approved Inheritance Administration Lawyers to avoid the Estate Plan Trust that cost my family a million dollars in Trust Probate.
Do Like me wait for the holidays and get a NICER Forgery Proof Interdiction Living Trust, with a Latin Law Crime Interdiction Administration
LOVE mistake #9! Mistake avoided!
Thanks Paul!! 👍👍👍👏👏👏
Nice buildup of suspense on #9, LOL. Had me on the edge of my seat.
I have been tuned in to quite a few of your videos. Very informative. 🙏🏽
This was super helpful. Thank you for the concise information
Number 10. Not getting the Forgery Proof NICER authorizes Administration Lawyer's 33-year reformed Permission Validated and certified Trust Administration.
Awesome info. I am about to setup a living trust and this info is exactly what I needed to know. Thank you.
Thank you, the video was very helpful and the comments provided real insights.
Thank you! I’m binge watching your videos!❤️❤️❤️❤️
Thank you sir I can understand almost everything when you explain it....
Great advice. Thank you!
So does an irrevocable living trust protect your assets against debt?
I gave you a thumb up subscribed and forwarded your outstanding videos. Thank you for your training
Most unique way a you tuber’s ever asked me to subscribe, so I did.
How much should I expect to pay to have a RLT done Thanks
Listenening to you and your knowledge in this field makes me wonder how it is possible to be so well versed in any endeavor. I am sharing your expert knowlede with family members who will in turn share with other freinds. Thanks again.
Don't forget to add a 33-year forgery proof reform is arriving with a Latin Law Crime Interdiction Administration.
Thank you very much for creating this video. I needed it as I am having these conversations with my family now.
Great information! Looking forward to the next video!
My mother's Will is a State Secret, and she changes it frequently depending on who she likes that week. She's 96 and is still changing her Will. What is your advice....
Stay in her good graces 😂
Do i need to go rhrough a lawyer to update my revocable trust or can i fill the form out myself and get it notorized?
Thank you so much for doing a good deed which really what you are doing is giving back to communities for free!
As always, what's good with tons of knowledge/power and not sharing & using power to make a difference to the world we live in?
Your sharing of your insights & knowledge is greatly appreciated!
i need help. i have a living revocable trust, a pour over will, and vangard needs a letter of testamentary. is it ok or legit to probate my husbands will?
Thank you so much. You’re wonderful for helping us!
Now that National Institute of Certified Estate Planners bravely caveated the RLT failed, getting one would be the mistake without NICER approved Inheritance Administration Lawyers.
This was such a helpful video thank you!
I just started watch your videos ,it is very timely information for me and I appreciate it.
Look forward for seeing more of it.
Ipe.
It's a great idea to include updates and changes in the contract ,
How much does it cost to make a typical living trust? Meaning what is the current price range, (high and low) for establishing a living trust?
$3400
@@jamesanderson7266 Thanks, James. Good to have a ballpark number.
50 bucks...
How did you arrive at the $50 figure when the other responder said it was $3400? @@waynechien-vovietchongmy9724
Great video! Regarding Medicaid, they would need an Irrevocable Living Trust before the clock starts ticking. They'll need a certain level of assets in that ILT for a specific amount of time before Medicaid can not hold it against them. Again, great video!
Agree 100%. When working with my clients and discussing Medicaid planning with irrevocable trusts, the threshold question is whether or not they want to give up control of those assets to another trustee in order to shelter their assets. Most aren't willing until they see an actual medical issue on the horizon.
As a product dependent on an irrevocable trust, I can honestly say that leaving a family member as an executor is probably not a very good thing. The fact that when the trust was designed, it was due to the fact that Medicaid and prenuptials were not very trusting so my parents and lawyer thought the siblings would be the best executors for my "Well-Being" after they had passed on. Was this a good decision? No! Turned out you can only have one executor and after the dependent of the trust has deceased, the remainder of the trust goes to the three trustees which asked to date, the trust is now on its second executor and as the beneficiary, I am concerned for my future.
@@RealJamieWorley Thank you for your input. Unfortunately my dynamic is under the "not so good".
@@louiesaucke521 so you had 3 or 4 people listed as trustee and as 1 died the other took over?
@@theplainenglishattorneyDon't know what state you are in, your trust automatically turns into a IRREVOCABLE TRUST, if OR once you BECOME, INCAPACITATED OR DEATH! I just went through this with my dad, who is Incapacitated! Yet, while you are the GRANTOR/CREATOR/TRUSTOR you can UPDATE, MODIFY as often as you want to. Yet, if a real estate property, still allows you to claim interest in it, yes keep it simple! Yet, if you are not still able to claim that interest. That home should have a second person on that deed along with yourself, for cheaper property tax, benefiting purposes.
In NY state as long as your trust has been set up for 5 years or longer, the medicaid can not take your house if it's in the trust.
You are Ammmmaaaaazing ! Thank you👍👍👍👍👍
New Subscriber.
Thank you for this video.
Quick question pls.
I have my Roth IRA set up to reinvest. My intention of opening the acc was simply to save for retirement. The company has a zero maintenance & interest fee. I called to asked if my money is safe, they said nothing is guaranteed.
Question is,
How can I just contribute without the risk of losing my IRA money to any investment ups and downs?
Ex. just like a regular bank's savings/ checking account.
I would appreciate a reply when you get a chance.
Thank you.
I'm waiting for NICER Cyber Air Coins with a 1 to 1 reserve in case there is a run on the bank.
Need a tutorial or basic procedure on up dating my schedule 1,2 etc
I will not make mistake number nine. Thanks so much
Do you know of an estate attorney here in Sacramento California that you can recommend. I need to update my living trust. Thanks.
How to do my mother do a trust for the house and i pay the mortgage. So what can i do to protect her
Hire a Forgery Proof Legalese Administration Lawyer putting their client's needs ahead of their own in a few months who protect vulnerable seniors and defend grantees legacies like Paul Rabalais should he choose to advance his career adding 100 times more value in a Legalese inheritance administration.
great information thank you really appreciate it
Once will & Trust created and assume if I get new home recently, should I need to update will & Trust again ?
make sure they title the property in the name of the trust not your name and it's covered.
Thank you so much for the info
Thank you for your educational and informative channel. New subscriber 🙌
i LIKED YOUR VIDIO THANKS, I HAVE A REVOCCABLE LIVING TRUST AND MY HOME IS IN IT, WHAT TO DO WHEN MY TRUSTEE SELLS THE HOUSE. SHOULD THE TRUSTEE DIVIDE THE MONIES BETWEEN THE BENFS.
God bless you for doing what you do
My partner and I just applied for Medi-Cal (Medicaid) to continue his stay in a Nursing home after the 100 days of Medicare (2023). We have a Revocable Living Trust set up in 2013 (to avoid Probate), we have assets of $103K, one car, one home (well under Medi-Cal limits) and some some stocks which we hope will be protected from the 6-year "Look-Back" of Medi-Cal. So I guess need to talk to lawyer who set up the RLT, but hope we have done it right.
I think it only works if you had an irrevocable trust.
LOL! You're good, sir! Your presentation gave me a chuckle and it was a great source of information. Thanks again! 😅
OK, sir, this is the third video that I watch from your channel since yesterday. I won't make the # 9 mistake. So here you go I'm your new subscriber.
BTW my mother-in-law passed away last September (my father-in-law passed away in 2000). My wife is in the middle of processing the transfer of the living trust that they left (2/3 ownership of the house) to her name. We were so glad that her late parents had a living trust (written about 25 years ago) transferring their ownership to her.
Just sharing our experience on living trust.
Thank you from Central Florida
Sure thing Central FL! 😎
Better than some others i've seen.
#9 was my favorite
Thank you for summarizing many issues and or mistakes associated with establishing either joint or individual revocable living trusts. I have stumbled through many of these issues and others.... in my quest for the right combination of vehicles to use to satisfy my personal and unique concerns. If anyone is detail oriented and able to reason thru these various situations, there comes a point where one needs to take some action and decide what vehicles to put in place and do the follow thru necessary. So having said that how does one go about brining all of the concerns you have raised along with ones they have you did not cover and taking appropriate action and get it done! It will never be perfect but without action it will never be done. So is there a master checklist that in theory will bring one to that point of taking action?
My question is is how would you feel if you were loved as a beneficiary on the estate and a trustee steals the estate for their self and claiming to be the beneficiary as well please explain how did they get away with being both with an item that is not theirs using your identity your social security number to be beneficiary as well as the trustee I am very bored how would you feel if this was done to you how would you feel if you did not see the true trustee estate papers please explain this when a power of attorney is over a trustee really floors me because I had no idea this had been done for someone to say someone's incompetent even if they have a disability who's handled her own affairs most of my life but when a lawyer does not listen to beneficiary and walks all over them then the trustee has misled that lawyer into believing in something without your knowledge
I can see how the lower income folks get the short end of the stick with a living trust-- it cost money to have one, while they don't have the money to have one for their family, then this type of information is basically restricted to a lot of people, not to mention complicated.
NICER Forgery Proof inheritance security system cost a Prebate nickel, Probate Dime, or Litigation Quarter so everyone gets the same end of the stick.
I’m just learning about trust. What cost are associated with holding/maintaining the trust? TIA
@@kalebott9883 Our parents Trust Lawyer's estate plan cost a million dollars in billable litigation hours, so we're waiting for the NICER approved Interdiction Living Trust Administration Trusted Advisors, and Allied Legal Professional Trust Guardians complete inheritance transfer, distribution and settled administration. Costing Parents a Prebate Nickel, or Grantee Beneficiaries a NICER Probate Dime, to avoid the Failed Estate Plan Quarter to 50% in billable litigation hours. So, everyone gets the same end of the stick, and Drew Barrymore and Cher's heirs get their shares.
@@kalebott9883now that the ethical lawyers are caveating the estate plan Trust fails the only options will be a Prebate Nickel for Grantors, a Probate Dime for Grantees and a Litigation Quarter for greedy grantees who want to fight in court,
How do I forge a Trust?
It's easy our greedy trustees, grantees and inheritance hijackers are stealing our inheritances or costing 50% in Billable Litigation Hours, erase your sibling's names and you get it all. Until Notay Index Crime Enforcement Regulatory 837PC Citizens and Sheriffs go on call to arrest you around the holidays. With NICER forgery proof Title Holding Entities, like a 33-year reform Interdiction Living Trust, Permission Ledger DPOA, and Schedule A Counterfeit Free LLC so Brew Barrymore and Cher's Heirs get their shares.
Don’t do it if It’s a NICER forgery proof Title Holding Entity or 837PC Citizens and the Law will throw you in Jail.
Number one getting an estate plan instead of an inheritance administration.
Great information. I learned from it. Didn't make mistake #9.
Yep, it need to be irrevocable trust to be isolated from the government considering it as your assets.
I am in my 70's and my husband is in his 80's so i need a living trust ,will, and POA over my husband and i don;t know how to start
Useful information even if you do not live in America ....
In Florida do you put your home in the trust??
Thank you for these videos. Do you have a video discussing assets that go through probate and those that do not? For example does an IRA, Roth IRA, life insurance and other similar accounts that have a beneficiary go through probate?
Not all life insurance benefits and IRA assets avoid probate. If you outlive your named beneficiaries then those assets can end up in probate court.
Les; if you name a beneficiary and draft your trust well; there shouldnt need a probate. a trust is what the settlor wants or the person who creates the trust
They are countable assets towards total Estate value, but are distributed directly ( by pass probate) to the named beneficiary on the IRA/ life insurance account (not via a will or trust )
Could you do a video on how to handle the affairs of someone that doesn't have a will or trusts set up? My son passed away and I'm trying to handle is end of life affairs for his daughter's mom cause they weren't married.
Are we going to keep adding up the mistakes?
Why are the Lawyers silent about Inheritance Hijackers?
No, we're not we've been lied to we can't do this without a Law degree or the Latin Law Crime Interdiction Administration to prevent crimes that ruin our families like forgers, counterfeiters and Trust embezzlers. Hire NICER Forgery Proof Approved Inheritance Administration Lawyers,
Thank you for the public service announcement!
Great presentation! Thanks...
Every Saturday
My bad experience - A large burden was shifted from Settlor to Trustee with lots of conditions on beneficiaries to receive $$. Would have been nicer if Settlor had just designated percentages or amounts....
Also, whoever might have power of attorney needs to be informed.
Regarding land, can trustee just quitclaim land to the beneficiary & let them deal with sale or whatever?
Great content! Thank you for your insights on mistakes in preparing a living trust.. quick question, I hear and have read that there are attorneys that say don’t put your real estate in a living trust?
Just now corrected the 9th one ! HARI NAM !
I have my IRA and bank accts. set up with POD. is that sufficient?
Why do i need a will or a living trust, my pension, 457b, two houses and cars, accounts have my wife as beneficiary and my kids as secondary benefits on everything. Would a simple will be needed?
so no one steals it with a counterfeit Trust
@@KennethGuilory-w8q whats a counterfeit trust?
Hi lPaul- I hear you - say you are in Louisiana- however- I amin London and I am very o pressed with your knowledge - I would very much appreciate Nd like to have a living trust properly written. Can you help by using a template? I am nearing old age! Needs to sort out my affairs.
Many thanks!
How do I pick a qualified and trustworthy estate attorney like you here in Northern New York? Any suggestion will be greatly appreciated.
You missed a few mistakes. It dose not surprise me but still you did a good job on the ones you covered. I am not an attorney.
Awesome information! Thank you!
In Australia if you go to a nursing home the premium paid is refunded when you leave (die). The residents pay ongoing fees for their care. That's for private nursing homes. You can go to a government nursing home but it's best avoided unless you're broke. I'm not sure why I'm watching this on Xmas morning .
Thanks for the video, but Mistake #9, I wasn't expecting that!! Hahaha