My revocable trust was created and funded years ago, but I watched most of your videos and took notes. As a result, I'm going to have to make some changes. It's incredible how much I've learned! Thank you so much!
Have gone through 3 revocable trusts. All documents were in order, all assets were funded. Just opened a bank account as irrevocable trust, all assets were put into that account, checked tax requirements, then made distribution per will. Ran smoothly without having to involve legal assistance. Thank you Mr. Rabaul is for all your suggestions. My hope would be that all estate planing lawyers were as caring and provided all the Information you disseminate and the questions you bring to light to all ensuring the advisor can advise the best solutions. Great info and explained in layman’s terms the importance.
Good morning Paul. I get up around 4 am every day and go to my home office and watch all of your videos. THANK YOU!!! We have created a revocable living trust and fully funded it now. May GOD bless you and your family.
I am an Oregon attorney, came across your video about the differences between testamentary and living trusts, and watched your RUclips video to see how you describe the differences for clients. Everything you said was right on point, and easy to understand. I watched a second video about the potential problems with living trusts and found it also on point and understandable. Most people don't fully comprehend that, unlike a will, a living trust MUST be "funded" after it's signed. You asked viewers to share our experiences - this is it.
What does it mean when you say you need to "fund" your trust? Do you need to open a dedicated bank account and deposit money into it monthly? As a rule of thumb, what percentage of your income would be advisable to inject into the fund? What if I die before that fund has enough money in?
@@_S.R._ you put all your significant assets in the name of your trust (all bank accounts, real property, etc). You can still spend it however you wish.
@@_S.R._ To add on to what Travis said, when you get new assets (new car, open new bank account, etc.) remember to title them as belonging to the trust, and not to you. I was the successor trustee for a family trust, where new bank accounts were opened, and a new car purchased without being titled as belonging to the trust. That reduced the effectiveness of the trust. We were lucky to avoid full probate because the value ended up being below the state threshold for the full probate treatment. But we still had to have some probate review of the assets that were not in the trust, that should have been. That's an example of one of the points Paul was making.
I've had trusts for years and am a Real Estate professional - - however, I've realized that there's a ton of stuff that I haven't addressed - - and need to - - . This is the boost that I needed to get it done!
Thank you for all of your information! We made out a revocable living trust online! Never knowing that we had to fund it! Without the funding it is absolutely worthless! We really thought we dotted all of our i's and crossed all of our t's! Wow! Thanks for everything!
Will share. My mother and I are going in this week to do our wills and saw your videos. I have decided to go for the living trust and will be sure to pass on the information you shared here. I have a young family and I'm EXTREMELY grateful for you sharing this with the RUclips world, God bless! 🙏
Yes, I did this on both my parents and my own family. It helps to get it all in the trust , then you have something in particular as the Executor to use as the guide for how to resolve the trusts. Sure you will get some family members or spouse that have their own ideas, but you use the Trust at the marching orders and as long as you follow all the process should be a fairly straightforward process. In my case I paid for a estate attorney to help with all the legal paperwork in processing the trust and I also had an accountant that help on the finance/money management and taxation issue.
Thank you for this valuable information. I’m 70 years old now and paid my house off last year. I plan to put my house in a Trust and go from there. I’ve been working on changing my beneficiaries, etc. You just put a firecracker under my feet with this information. Again, thank you.
Thank you for the excellent presentation! I'm in the beginning stages of this; I see I now have to find a comprehensive list of "probate assets" and "non-probate assets" so I know what to fund the trust with and what not to place in the trust. Then I can make a check off list of items to get "re-titled" into the name of the trust. Sooner I get this done the better, then I'm left with maintaining it.
Thank you. Wish we did this long ago. Probate is time-consuming and expensive. Spend the money setting up the trust and put everything in the family trust.
Wish I had seen the living trust vids before now...after moving from one state to another, my exwife died, and I found that the last will was not updated, I was no longer involved even tho I was the beneficiary, plus all the legal paperwork was not changed over to the present state where we lived.... Forfeited property, pensions, and a sizable estate.... OH WELL. Thank you for the info. Charlie Sain
As soon as our attorney advised us it was time to fund the trust 2 years ago, it appeared daunting. As expected, we procrastinated doing it. After viewing your video, I’m fired up to get it done. Thank you.
Thanks for making these videos. I found that in California if the intention to place an asset into a trust was stated but had not yet been done; that qualified it to be under the trust if the primary trustee passed away before doing so. Not a reason to procrastinate but it sure helped me when acting as Successor Trustee for my mother's trust.
Thanks. I feel very prepared with your action points. The part where you explain this isn’t something you just put on the shelf brings light that the trust is living as long as you are. Periodically bing updated.
Thank you so very much for breaking things down as simply as possible so that people just get it done with a professional estate planner that knows the ins and outs.
As I prepare information to open a trust, I did not know much about what this really meant. This video is fantastic...very helpful!! Thank you so much for clearing up questions and your very valid suggestions.
I did set up the REVOCABLE FAMILY TRUST in 2004 & have already funded all the probate items into it. IRAs are the only items not funded. Already did those 3 things you suggest. How Do i fund the CARS & the furniture ? Thanks so much for motivating people understand & execute the practical financial wisdom of estate planning !
I just finished opening a living revocable trust and I went to my bank to add my bank account to the trust and the bank manager didn’t know what I was talking about and didn’t know how to do it so I decided to stop him from screwing things up and I left and tomorrow I am going to another branch of the bank and make sure that this time the person that sits down with me isn’t trying to learn as they go. For some reason bank sEmployees think you have to be a billionaire to open a trust and I think I’m going to end up having to give these employees an education of what a trust really is. Everybody should know about a trust and if you own anything you need to put it under a trust and not be afraid of spending a little money to protect your assets that you plan to leave to someone in your family. And now especially since people are living much longer and for a short time might need to go to a nursing home, their assets will not be depleted, but will remain in the trust.
A revocable living trust might not protect an estate from a nursing home lien. For that, you will need a irrevocable trust created. Check with an elder care attorney.
You're misinformed if you think your assets aren't liquidated for nursing home expenses before anything else. Many bank employees are well versed in trust protocol. I feel your comment is exaggerated about the competency of those in the banking industry.
Thank you I didnt think I owned enough to consider a irrevokable trust. Thanks for speaking in a way we all can understand. Tim T. I need help and I plan to get it NOW! I promise to share this link with some of my other friends.
By far the best videos I’ve watched on this subject. Thry are broken down into terms that I can understand, as well as examples and tips being included
Thank you for the excellent advice. I went from knowing zero to seeing the benefits of not going through probate by funding a living trust. I will hire an attorney to walk me through the process. You made the point quite well that trust needs to be funded. Thank you. Very informative.
I was an executor of an estate will a simple will , what a mess, greed, back taxes, slow probate. Get a living trust folks to help those who are left behind.
Thank you!! I had no idea about a Revocable Living Trust. We have a will and I always thought we did all we could for ourselves and our children when we pass. Will be doing this right away. God Bless You!
Love your videos Paul! You mentioned annuities as a non probate item. I've never heard that before. I had my annuities in my revocable trust but was told later by my investment adviser that by having my annuities in my trust, shortens the time my beneficiaries have in receiving distributions.Which would cause unnecessary tax implications. This was explained by saying a trust is not a living person so there are distribution time restrictions placed on annuities that name a trust as the primary beneficiary. Another way of saying this was there was no way to "stretch" the distributions with time! Thanks again!
Thank you for this information. Yes, you are so right that it is important to get your Trust funded. I have first hand experience at how BAD things go with family when the affairs are not in order.
We are signing our documents next week. Also plan on providing more specific information based on our assets and education for our children before something happens to us. I have really enjoyed your videos, shared with a friend who was looking into an irrevocable trust. Ty so much
Thank you for this valuable information, Paul. You've done a masterful job of explaining the nuances related to estate planning. I am now more prepared upon meeting with my estate attorney in the coming weeks. Thanks for your honesty and willingness to share such important information to everyday folks like ourselves!
Paul, just viewed the video, and all your information is so valuable to people in all walks of life. It is so much better to do the preventive at a time when you can think clearly. Thank you for taking the time to tell us all again to just get it done! May God Bless you always.
It was great talking to you a few days ago. Thanks so much for your efforts to educate everyone about estate planning You truly have a servants heart✌🏻
FYI National Institute of Certified Estate Planners Caveated the EP RLT Fails. Notary Index Crime Enforcement Regulatory caveated we Need Inheritance Administrations Lawyers not Estate Planners.
Had a trust set up years ago thinking we were totally prepared and once done, filed it away and never thought about it until recently when a close family member died unexpectedly. Now i am watching this and find we never finished the process by funding the trust. OY 🤦🏻♀️. Honestly, it was based around the home, but never were we advised to look at the bank accts, inestments, etc. Had absolutely no idea that we needed to transfer thise assets to the trust.
Thank you so much for this valuable information... I had a horrible experience with probating my mother's will n testament 3 yrs ago. Wish we knew this before. 🙏
Thank you for sharing this information. We have started this process recently. It definitely is a 'process' and we look forward to completing it as soon as possible. Will be great to have this task completed after having procrastinated for so long!
I just found this channel, I am an NY / NJ Estate and Elder Law attorney. There's such a huge need for skilled attorneys in this area and I am presently hiring additional skilled attorneys.
Beneficiaries need to know what's involved in the inheritance process. They need to be brought into the process of setting up and know what's expected of them when its time to inherit.
Thank you, excellent advice! I created my RLT and it has taken almost 4 months to completely fund it, but I am 99% done; only my car left, which I understand is one of the easiest things to move into the trust postmortem if necessary. I did not know that my successor trustee may be able to settle everything himself. I assumed he would have to hire an attorney to administer the trust.
Thank you, after watching some of your earlier videos, I contacted q local attorney, and set up both revocable and unreasonable trusts. Thank you for your advice.
Very ignorant about needs for Living trust,thought only for the rich people. I am grateful to you a lot. On my #1 list is finding elder lawyer (I came here 54 yrs ago)
My concern is that I Do have a few assets. However, I cannot afford to see an attorney to set up a trust. It’s sad we can’t do this gif ourselves. I am now disabled and live on a fixed income. I don’t want my loved ones to have to go through probate, yet I cannot afford the prior planning and preparation. Thank you for the very Informative video. I really learned a lot
There are ways of doing this yourself. Educate yourself on what a quit claim is and what kind of quit claim does different things. There are people that have done a living trust of their own they just have to make sure they do it right and write a pour over will with it
My property is in a revocable trust. I have named beneficiaries for all other items such as life insurance, stocks, pension, etc. My checking account is in my name as well as my two sons names. From your video it appears that if these items have named beneficiaries in writing that I do not need to transfer these things into the trust. That is what I was advised by an attorney. Great video and very important information. Thank you.
Just went through a lot of this for my father. I had thought I had funded the trust. Created it, created the transfer deed to move the only remaining asset, my father's residence, into the trust. All docs notarized. Even contacted the county recorder in California asking if they wanted the original docs, since the recorders office was closed due to Covid-19. They stated that the copies emailed were going to suffice. Then we try to sell the property. The title company search that the county failed to record the trust transfer deed. Now we are stuck with another attorney bill for a Heggstad Petition. Moral of this is even if you have done everything correctly, verify that the assets have been retitled!!! Thanks Paul...such great info that everyone with aging parents should watch and take action!
Great insight and assistance with the details that are so very important.. THANK YOU and I have shared this already with my mother-in-law who needs to get her affairs in order.
Thank you so much for this amazing help! I had just contacted someone to help me with my dad-who lives with me get a living trust. He owns nothing- lives on SS and a Carpenters union pension- has no vehicles, no life insurance, no IRA's nothing.. only a checking & savings account..but his name is on our home along with my husband and myself.. We had to move to larger home to accomadate him and in order to qualify we had to add him.. what do I do in these circumstances?
Great explanation. A great way to save the people we love a lot of headaches....I sure hope that one day....far far into the future, my spouse and I die together in a quick and painless death for the purpose of avoiding personal care homes. We are thinking about setting this up, and, from what I hear, the time to do it is.....now...thank you so much😃🌈🤙
Thank you very much for putting some light in my path. What I usually like to do is: when I discover someone that I think makes sense, is smart, and seems to know what he is talking about I hire them. I went to your website where the video you have almost says to stick with a lawyer in your city. Most likely is a lot more complicated to scan all kind of documents and upload them, not too many people know how to do that. So I have to ask: is it better for the lawyer and I to find someone local? Thank you very much.
we have a will. thought that was enough but realized after watching a couple of you videos we need a revocable living trust. I was told by my attorney that unless you have a sizable estate you don' t need a trust.i think he was wrong
2 points 1) people often forget to reticle a boat they own ! 2) bank accounts and CDs can have beneficiaries named .These are effectively a Payable on demand trust . Beneficiary presents ID and death certificate and they take the money.
Looks like I need to review what potentially goes through probate again. When we recently converted sizable retirement accounts with trust named beneficiary to an IRA our financial adviser convinced us to put them back in our names. Probably time to have this all reviewed by professionals again.
Thank you, Mr. Rabalais. I just heard you said, "...fund your trust, list your x,y, IRA's, 401K..." I though IRA do not get listed. Please advise! I would like to hear a video on explaining why and how we can ad OR can-not ad IRA, 401K in a trust. Thank you.
Thank you for the advice I'm probably going to have to rewatch the entire video again and take notes but you have given me a big reason to talk to my financial advisor and get this underway again thank you for your video
Thank you for the video, but I have two questions, with all due respect wouldn't a qualified living trust attorney fund that living trust automatically, or do I have to ask while I'm looking over his or her shoulder? When you say fund the trust, does that mean the entire net worth, or just a certain amount the deceased or person doing the trust decided on?
i just lost my mom and i've never done any of this funeral/will/trust process before, scared out of my mind. her trust basically seems to cover for everything but the house but no-one wants the house so i'm fine with it getting repossessed if it means i can avoid probate. i just have no idea whats what and it scares me man
Thank you.. I now understand what happened. I lost out on my inheritance b'cuz of one missing signature on one Fidelity account.. now probate makes it a 6 way split.. how nice.! ... Her "family" feels poor. Probably cuz they drink.. a lot..: Greedy & jealous cuz they deem their Dad to be astranged.. I never saw their horns til she died.. Soo listen to this guy.!!
Once again, I'm blown away by the sheer number of wonderful people willing to share extremely valuable information for free. Thank you so much.
i appreciate honest people like you who are willing to help everyone for free. blessed to have a few still around who care.
My revocable trust was created and funded years ago, but I watched most of your videos and took notes. As a result, I'm going to have to make some changes. It's incredible how much I've learned! Thank you so much!
Have gone through 3 revocable trusts. All documents were in order, all assets were funded. Just opened a bank account as irrevocable trust, all assets were put into that account, checked tax requirements, then made distribution per will. Ran smoothly without having to involve legal assistance. Thank you Mr. Rabaul is for all your suggestions. My hope would be that all estate planing lawyers were as caring and provided all the Information you disseminate and the questions you bring to light to all ensuring the advisor can advise the best solutions. Great info and explained in layman’s terms the importance.
Help!!!
Good morning Paul. I get up around 4 am every day and go to my home office and watch all of your videos. THANK YOU!!! We have created a revocable living trust and fully funded it now. May GOD bless you and your family.
I am an Oregon attorney, came across your video about the differences between testamentary and living trusts, and watched your RUclips video to see how you describe the differences for clients. Everything you said was right on point, and easy to understand. I watched a second video about the potential problems with living trusts and found it also on point and understandable. Most people don't fully comprehend that, unlike a will, a living trust MUST be "funded" after it's signed. You asked viewers to share our experiences - this is it.
What does it mean when you say you need to "fund" your trust? Do you need to open a dedicated bank account and deposit money into it monthly? As a rule of thumb, what percentage of your income would be advisable to inject into the fund? What if I die before that fund has enough money in?
@@_S.R._ you put all your significant assets in the name of your trust (all bank accounts, real property, etc). You can still spend it however you wish.
@@travis1240 Oh, thank you!
@@_S.R._ To add on to what Travis said, when you get new assets (new car, open new bank account, etc.) remember to title them as belonging to the trust, and not to you. I was the successor trustee for a family trust, where new bank accounts were opened, and a new car purchased without being titled as belonging to the trust. That reduced the effectiveness of the trust. We were lucky to avoid full probate because the value ended up being below the state threshold for the full probate treatment. But we still had to have some probate review of the assets that were not in the trust, that should have been. That's an example of one of the points Paul was making.
@@beelmars5400 Thank you, greatly appreciated!
I've had trusts for years and am a Real Estate professional - - however, I've realized that there's a ton of stuff that I haven't addressed - - and need to - - . This is the boost that I needed to get it done!
Thank you for all of your information! We made out a revocable living trust online! Never knowing that we had to fund it! Without the funding it is absolutely worthless! We really thought we dotted all of our i's and crossed all of our t's! Wow! Thanks for everything!
Will share. My mother and I are going in this week to do our wills and saw your videos. I have decided to go for the living trust and will be sure to pass on the information you shared here. I have a young family and I'm EXTREMELY grateful for you sharing this with the RUclips world, God bless! 🙏
Yes, I did this on both my parents and my own family. It helps to get it all in the trust , then you have something in particular as the Executor to use as the guide for how to resolve the trusts. Sure you will get some family members or spouse that have their own ideas, but you use the Trust at the marching orders and as long as you follow all the process should be a fairly straightforward process. In my case I paid for a estate attorney to help with all the legal paperwork in processing the trust and I also had an accountant that help on the finance/money management and taxation issue.
Thank you for this valuable information. I’m 70 years old now and paid my house off last year. I plan to put my house in a Trust and go from there. I’ve been working on changing my beneficiaries, etc. You just put a firecracker under my feet with this information. Again, thank you.
Great plan PM 🧨
This is a real problem. I'm an attorney, and I have to open probates all the time when there was a perfectly good trust, but it wasn't fully funded.
Thanks KK for validating the point 👍
Thank you for the excellent presentation! I'm in the beginning stages of this; I see I now have to find a comprehensive list of "probate assets" and "non-probate assets" so I know what to fund the trust with and what not to place in the trust. Then I can make a check off list of items to get "re-titled" into the name of the trust. Sooner I get this done the better, then I'm left with maintaining it.
Thank you so much. We are in the process and we have found a very Godly lawyer who is helping us. God bless your work to help folks.
Thank you. Wish we did this long ago. Probate is time-consuming and expensive. Spend the money setting up the trust and put everything in the family trust.
Thanks for the talk. To the point and very helpful to me and anyone else who watched. 🌵
Great explanation of legal issues and trusts. So much great info available for free!!! Thank you so much!!!
Wish I had seen the living trust vids before now...after moving from one state to another, my exwife died, and I found that the last will was not updated, I was no longer involved even tho I was the beneficiary, plus all the legal paperwork was not changed over to the present state where we lived.... Forfeited property, pensions, and a sizable estate.... OH WELL. Thank you for the info.
Charlie Sain
As soon as our attorney advised us it was time to fund the trust 2 years ago, it appeared daunting. As expected, we procrastinated doing it. After viewing your video, I’m fired up to get it done. Thank you.
Thanks for making these videos. I found that in California if the intention to place an asset into a trust was stated but had not yet been done; that qualified it to be under the trust if the primary trustee passed away before doing so. Not a reason to procrastinate but it sure helped me when acting as Successor Trustee for my mother's trust.
It's your Common Law Rights to contract and supersedes all 'legal manmade laws'
Thanks. I feel very prepared with your action points. The part where you explain this isn’t something you just put on the shelf brings light that the trust is living as long as you are. Periodically bing updated.
Thank you so very much for breaking things down as simply as possible so that people just get it done with a professional estate planner that knows the ins and outs.
As I prepare information to open a trust, I did not know much about what this really meant. This video is fantastic...very helpful!! Thank you
so much for clearing up questions and your very valid suggestions.
Thank you for this wonderful and important information. I don't know much about this topic, but it has convinced me to contact an Estate lawyer.
I did set up the REVOCABLE FAMILY TRUST in 2004 & have already funded all the probate items into it. IRAs are the only items not funded.
Already did those 3 things you suggest. How Do i fund the CARS & the furniture ?
Thanks so much for motivating people understand & execute the practical financial wisdom of estate planning !
Thank you for putting informative dialogue into description !
easier to read, digest and share :)
I just finished opening a living revocable trust and I went to my bank to add my bank account to the trust and the bank manager didn’t know what I was talking about and didn’t know how to do it so I decided to stop him from screwing things up and I left and tomorrow I am going to another branch of the bank and make sure that this time the person that sits down with me isn’t trying to learn as they go. For some reason bank sEmployees think you have to be a billionaire to open a trust and I think I’m going to end up having to give these employees an education of what a trust really is. Everybody should know about a trust and if you own anything you need to put it under a trust and not be afraid of spending a little money to protect your assets that you plan to leave to someone in your family. And now especially since people are living much longer and for a short time might need to go to a nursing home, their assets will not be depleted, but will remain in the trust.
A revocable living trust might not protect an estate from a nursing home lien. For that, you will need a irrevocable trust created. Check with an elder care attorney.
You're misinformed if you think your assets aren't liquidated for nursing home expenses before anything else. Many bank employees are well versed in trust protocol. I feel your comment is exaggerated about the competency of those in the banking industry.
@@stoopitnoob1171 She is quoting an actual experience! May be some are competent, the one she met was not.
Thank you I didnt think I owned enough to consider a irrevokable trust. Thanks for speaking in a way we all can understand. Tim T. I need help and I plan to get it NOW!
I promise to share this link with some of my other friends.
Thank you for the info, setting one up for my family and sending info to my close friends. God speed.
Thank you! Spot on information. I just shared this with Mom & Sis. They will be my beneficiaries in the revocable living trust. Now, to set it up!
By far the best videos I’ve watched on this subject. Thry are broken down into terms that I can understand, as well as examples and tips being included
Thank you for the excellent advice. I went from knowing zero to seeing the benefits of not going through probate by funding a living trust. I will hire an attorney to walk me through the process. You made the point quite well that trust needs to be funded. Thank you. Very informative.
I'm thinking about establishing a trust. Your teaching is very well done and informative. Thank you!
I was an executor of an estate will a simple will , what a mess, greed, back taxes, slow probate. Get a living trust folks to help those who are left behind.
Thank you!! I had no idea about a Revocable Living Trust. We have a will and I always thought we did all we could for ourselves and our children when we pass. Will be doing this right away. God Bless You!
Love your videos Paul! You mentioned annuities as a non probate item. I've never heard that before. I had my annuities in my revocable trust but was told later by my investment adviser that by having my annuities in my trust, shortens the time my beneficiaries have in receiving distributions.Which would cause unnecessary tax implications. This was explained by saying a trust is not a living person so there are distribution time restrictions placed on annuities that name a trust as the primary beneficiary. Another way of saying this was there was no way to "stretch" the distributions with time! Thanks again!
Thank you for this information. Yes, you are so right that it is important to get your Trust funded. I have first hand experience at how BAD things go with family when the affairs are not in order.
We are signing our documents next week. Also plan on providing more specific information based on our assets and education for our children before something happens to us. I have really enjoyed your videos, shared with a friend who was looking into an irrevocable trust. Ty so much
Thanks for the motivation!
Thanks again! Always a great reminder to fund your Trust and keep updating. 🤗
Thank you for this valuable information, Paul. You've done a masterful job of explaining the nuances related to estate planning. I am now more prepared upon meeting with my estate attorney in the coming weeks. Thanks for your honesty and willingness to share such important information to everyday folks like ourselves!
Great info and details presented. We are going through settling a trust right now, wish me luck. With your advice it should be easier.
Thank you. Just decided to do the trust vs the will. So appreciate the info.
Thank you, very informative and helpful. Thanks for being kind enough to share!
Thank you very much.. best living trust video on you tube I've seen 🖒🖒
Look up on RUclips
Gene kim
Robert breaker
Chuck missler
Paul, just viewed the video, and all your information is so valuable to people in all walks of life. It is so much better to do the preventive at a time when you can think clearly. Thank you for taking the time to tell us all again to just get it done! May God Bless you always.
It was great talking to you a few days ago.
Thanks so much for your efforts to educate everyone about estate planning
You truly have a servants heart✌🏻
FYI National Institute of Certified Estate Planners Caveated the EP RLT Fails. Notary Index Crime Enforcement Regulatory caveated we Need Inheritance Administrations Lawyers not Estate Planners.
Had a trust set up years ago thinking we were totally prepared and once done, filed it away and never thought about it until recently when a close family member died unexpectedly. Now i am watching this and find we never finished the process by funding the trust. OY 🤦🏻♀️. Honestly, it was based around the home, but never were we advised to look at the bank accts, inestments, etc. Had absolutely no idea that we needed to transfer thise assets to the trust.
Very helpful. Thank you! I need to update my trust in a couple areas.
very helpful and informative video. Explained in way that non legal people can understand.
Thank you so much for this valuable information... I had a horrible experience with probating my mother's will n testament 3 yrs ago. Wish we knew this before. 🙏
Thank you for sharing this information. We have started this process recently. It definitely is a 'process' and we look forward to completing it as soon as possible. Will be great to have this task completed after having procrastinated for so long!
I just found this channel, I am an NY / NJ Estate and Elder Law attorney. There's such a huge need for skilled attorneys in this area and I am presently hiring additional skilled attorneys.
I found your presentation of information very helpful in motivating us to get this done!
Good to hear CB 👍
Beneficiaries need to know what's involved in the inheritance process. They need to be brought into the process of setting up and know what's expected of them when its time to inherit.
Wonderful Video, great explanation and presentation, really has me motivated to take care of my estate
Helpful info for one who has let it sit on the shelf. Thank you for sharing
My Wife and I have a revocable trust with our home in it but never thought about our retirement accounts. Thank you!
I got my steps and just wanted to say thank you for sharing this information. It is very helpful!
Glad it helps AP!
Thank you, excellent advice! I created my RLT and it has taken almost 4 months to completely fund it, but I am 99% done; only my car left, which I understand is one of the easiest things to move into the trust postmortem if necessary. I did not know that my successor trustee may be able to settle everything himself. I assumed he would have to hire an attorney to administer the trust.
Thank you, after watching some of your earlier videos, I contacted q local attorney, and set up both revocable and unreasonable trusts.
Thank you for your advice.
Thank you. Creating and funding a living trust is my 2019 New Years resolution.
Congrats in advance Sharon. Happy New Year.
Very ignorant about needs for Living trust,thought only for the rich people. I am grateful to you a lot. On my #1 list is finding elder lawyer (I came here 54 yrs ago)
My concern is that I
Do have a few assets. However, I cannot afford to see an attorney to set up a trust. It’s sad we can’t do this gif ourselves. I am now disabled and live on a fixed income. I don’t want my loved ones to have to go through probate, yet I cannot afford the prior planning and preparation. Thank you for the very Informative video. I really learned a lot
There are ways of doing this yourself. Educate yourself on what a quit claim is and what kind of quit claim does different things. There are people that have done a living trust of their own they just have to make sure they do it right and write a pour over will with it
I do need to add here that I am not a lawyer and I don’t know the laws of your state I’m just giving you some ideas to educate yourself about
My property is in a revocable trust. I have named beneficiaries for all other items such as life insurance, stocks, pension, etc. My checking account is in my name as well as my two sons names. From your video it appears that if these items have named beneficiaries in writing that I do not need to transfer these things into the trust. That is what I was advised by an attorney. Great video and very important information. Thank you.
That was my question. I have beneficiaries specified on stocks so I assume I do not have the specify the trust as a beneficiary, correct?
Just went through a lot of this for my father. I had thought I had funded the trust. Created it, created the transfer deed to move the only remaining asset, my father's residence, into the trust. All docs notarized. Even contacted the county recorder in California asking if they wanted the original docs, since the recorders office was closed due to Covid-19. They stated that the copies emailed were going to suffice. Then we try to sell the property. The title company search that the county failed to record the trust transfer deed. Now we are stuck with another attorney bill for a Heggstad Petition.
Moral of this is even if you have done everything correctly, verify that the assets have been retitled!!!
Thanks Paul...such great info that everyone with aging parents should watch and take action!
Great insight and assistance with the details that are so very important.. THANK YOU and I have shared this already with my mother-in-law who needs to get her affairs in order.
Thank you for your service. I will revisit my attorney and do all your recommendation
Thank you so much for this amazing help! I had just contacted someone to help me with my dad-who lives with me get a living trust. He owns nothing- lives on SS and a Carpenters union pension- has no vehicles, no life insurance, no IRA's nothing.. only a checking & savings account..but his name is on our home along with my husband and myself.. We had to move to larger home to accomadate him and in order to qualify we had to add him.. what do I do in these circumstances?
Great explanation. A great way to save the people we love a lot of headaches....I sure hope that one day....far far into the future, my spouse and I die together in a quick and painless death for the purpose of avoiding personal care homes. We are thinking about setting this up, and, from what I hear, the time to do it is.....now...thank you so much😃🌈🤙
Thanks for.posting this. I needed a reminder about adding all my accounts to my trust
Thank you very much for putting some light in my path. What I usually like to do is: when I discover someone that I think makes sense, is smart, and seems to know what he is talking about I hire them. I went to your website where the video you have almost says to stick with a lawyer in your city. Most likely is a lot more complicated to scan all kind of documents and upload them, not too many people know how to do that. So I have to ask: is it better for the lawyer and I to find someone local? Thank you very much.
What a great video to introduce Living Trust and Funding it...I am going to do it....
Thank you for this invaluable information! God bless you, Paul.
Thank you for the free and honest in.
* information.
we have a will. thought that was enough but realized after watching a couple of you videos we need a revocable living trust. I was told by my attorney that unless you have a sizable estate you don' t need a trust.i think he was wrong
Thank you so much for this information! It answered a lot of questions for me.
Can you do a cestique ve trust video?
2 points 1) people often forget to reticle a boat they own ! 2) bank accounts and CDs can have beneficiaries named .These are effectively a Payable on demand trust . Beneficiary presents ID and death certificate and they take the money.
And the debt?
Thank you! 🙏🏻 is there a list of probate assets and non probate assets?
Great advice. Thank you. Headed to estate attorney now.
Looks like I need to review what potentially goes through probate again. When we recently converted sizable retirement accounts with trust named beneficiary to an IRA our financial adviser convinced us to put them back in our names. Probably time to have this all reviewed by professionals again.
Thank you, finally learning the details I need to know now as I ride into the sunset.
Great job. I learned a lot from you in a short amount of time!
thank you for your valuable information
Thank you, Mr. Rabalais. I just heard you said, "...fund your trust, list your x,y, IRA's, 401K..." I though IRA do not get listed. Please advise! I would like to hear a video on explaining why and how we can ad OR can-not ad IRA, 401K in a trust. Thank you.
Thank you for the advice I'm probably going to have to rewatch the entire video again and take notes but you have given me a big reason to talk to my financial advisor and get this underway again thank you for your video
Super background of issues w/recommendations! ThankU Paul.
Thank you very much, I'll get on it today!
Thank you for the video, but I have two questions, with all due respect wouldn't a qualified living trust attorney fund that living trust automatically, or do I have to ask while I'm looking over his or her shoulder?
When you say fund the trust, does that mean the entire net worth, or just a certain amount the deceased or person doing the trust decided on?
i just lost my mom and i've never done any of this funeral/will/trust process before, scared out of my mind. her trust basically seems to cover for everything but the house but no-one wants the house so i'm fine with it getting repossessed if it means i can avoid probate. i just have no idea whats what and it scares me man
Learned valuable information. I'm trying to set up my own living trust. Thank you for your time !
While in the process of funding the trust, does a 'pour over will' help protect the assets from probate?
Get it done!
Excellent video!
Thanks Paul!
Thanks d
Excellent Video, Thank you so much.
I think you should define what it means to fund your trust.
Thanks for the great information.
You’re welcome RN
Just saw this..... THANK YOU! Sharing 🌹
Thank you.. I now understand what happened. I lost out on my inheritance b'cuz of one missing signature on one Fidelity account.. now probate makes it a 6 way split.. how nice.! ... Her "family" feels poor. Probably cuz they drink.. a lot..: Greedy & jealous cuz they deem their Dad to be astranged.. I never saw their horns til she died.. Soo listen to this guy.!!