Yeah, it won't be an attorney that will tell you how to know. Forgive me; I have yet to have a positive interaction with a lawyer and I'm 75 years old.
8:08 Who gets the things you leave behind (equal, percentages, grandchildren, specific assets to particular people)? 9:05 Who should serve as executor or trustee? 9:44 Who to handle medical decisions when you are incapacitated? (medical power of attorney) 10:10 Who is going to handle your money when you are incapacitated? (financial power of attorney) 10:38 Passing property to surviving spouses? Use a trust? 11:55 Do any heirs need inheritance managed? Leaving property to minors requires special handling. 13:19 Avoiding tax, sheltering assets from assisted living expenses 15:00 Divorce-proofing inheritances 15:50 Use will or revocable living trust? Probate avoidance? 17:21 State what is most important to you (from above) 19:10 Save complicated issues for last (e.g., what happens if all named heirs pass away before will probated/trust assets distributed?)
Awesome info! I am 27 but I have paid off my home and have some cash in the bank. I am not married, so I guess I will leave everything to my mom in the event of my demise. She worked hard to give me a great life and it’s her I owe everything to. In the event I get married I will change my estate planning to reflect my spouse as beneficiary. I got overwhelmed after reading about wills and trusts. I am in north Alabama and really think I just need some basics done. Thanks for the no nonsense guide. Just subscribed to your channel.
My mom went to an attorney for a will. She kept insisting on putting her house in the will. She had her house in a recorded beneficiary deed. The reason for the attorney was to validate my statement that the beneficiary deed will invalidate the will, which only had her house in it. At the end of her time with the attorney, they called me and put me on speaker. The attorney said he didn't know about such things about the deed, and drew up a will for her and charged her about $1000 for filling in a form that included wrong first names of heirs! The attorney was informed that his bill would not be paid in lieu of not reporting him to the bar. The daughters ended up sharing the house through the beneficiary deed in the end.
Hi Mr. Rabelais, I would like to know that when I die, and my mortgage isn’t fully paid , what can I do now so my children will know what to do to keep the house?
Hello, thanks for your help! A lawyer sent us a form of many pages asking personal details without meeting us, previous to the meeting. I do not like this aproach. I think we will not go with that attorney? Thanks! Ali
To go in unprepared makes you a mark for being taken advantage of. They will have you paying for lots of stuff you don't need because you won't know any different. I'm sure there are a few lawyers out there who would not take advantage, but how does anyone know? Be in a position to advocate for yourself. This is true for most professionals you pay money to.
My independent thinking widowed mom-in-law has recently announced to her two children, (my sweet wife & her brother) that her debt-free property has been deeded to them equally, so it is not going to be "anything they need to worry about." A local atty who updated her will did this. We live in Ga so it's not like driving downtown in her sleepy Oklahoma town to his office in the morning. Recording her deed - making children owners - doesn't this unwittingly create for them a step-up in basis upon mom's death? It's beautiful residence lake property, likely 400k plus conservatively. No debt-Low basis. They built w/ cash in the late 80's. She announced nothing else changed & all is the same. Translation: Everything else she owns is in mom's name = Hello probate! The LRT is essential to prevent my wife (& her brother) the certainty of probate. Her mom is 83 & the knucklehead atty, in my opinion, just sees this as a will-based planning solution,. Q? Can titling the deed now INTO a LRT, getting the property OUT of the children's names, solve the step-up in basis she inadvertently has created? I wonder how many good-hearted folk have made decisions to solve a problem but unknowingly stepped into landmine of an unintended consequence? Enjoy each of your videos! Maybe worth a discussion?
How familiar are you with a S. Dakota Trust? The advantage of having your Trust where the jurisdiction is in S. Dakota know matter what state you reside in.
After my suicide attempt, five or six years ago, I realized that my sudden death would have left my family with a lot of confusing logistics to sort out. Since then it has been a priority of mine to organize my documents and things so that an unexpected death would not be a hassle for them.
I like the information you present, but with all due respect I find the presentations to be much too wordy, such that each presentation could probably be cut by half or even more.
All jokes aside. Your videos have educated me far and beyond what I expected any online research ever could - my father passed away only weeks ago. My half sister , like myself, is an alternate beneficiary to ALL assets if the primary beneficiary predeceased our father. Well - she didn't. This person is expected to 'disperse' in equal portions however is under no obligation to do so. Your videos on the Probate process and ALL different scenarios associated with the matter has me binge watching -
I am a widow. I don't have any children. My siblings are scattered around the world. My problem is I don't have any body I can trust. Am I cynical? YES.
Same here. We are what they are calling orphan elders and there are a whole lot of us. Even if we have trusted friends, they are all our age and likely to pass before us. With the younger generation often opting to have no children, there will be much more of this problem to come. So far I have found no answers.
All the more reason to have a discussion with an estate planning attorney! And then a good discussion with children about what your wishes are. And listen to their concerns.
We’re unable to get rid of our deeded timeshare. How can we avoid our grown children from inheriting it because it’s actually a liability and not an asset is what we realized. Should we include it in our will or trust at all to clearly state that they shall NOT inherit the timeshare?
You have great imformation! I can hardly listen because you repeat the same thing for over and over. How many different ways can u say it,I feel like a child or you think we are stupid!
Speak for yourself; sorry you take this as talking down to you. This is complex information; just like learning anything, repetition is the way it goes in and stays in. I wish he might speak more slowly; you might think he speaks too slow. Remember, it's free information; appreciate that.
![Seungmin "그렇게, 천천히, 우리(As we are)" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/kAzmhLHePqU/mqdefault.jpg)
I am waiting on the video titled “How to know you are talking to a nitwit attorney.” That would be the most educational and useful video of all.
Yeah, it won't be an attorney that will tell you how to know. Forgive me; I have yet to have a positive interaction with a lawyer and I'm 75 years old.
@@virginiamoss7045 I have had a few, but these were mostly with patent attorneys.
8:08 Who gets the things you leave behind (equal, percentages, grandchildren, specific assets to particular people)?
9:05 Who should serve as executor or trustee?
9:44 Who to handle medical decisions when you are incapacitated? (medical power of attorney)
10:10 Who is going to handle your money when you are incapacitated? (financial power of attorney)
10:38 Passing property to surviving spouses? Use a trust?
11:55 Do any heirs need inheritance managed? Leaving property to minors requires special handling.
13:19 Avoiding tax, sheltering assets from assisted living expenses
15:00 Divorce-proofing inheritances
15:50 Use will or revocable living trust? Probate avoidance?
17:21 State what is most important to you (from above)
19:10 Save complicated issues for last (e.g., what happens if all named heirs pass away before will probated/trust assets distributed?)
In a nutshell. Thanks.
I just happened to come across your videos. They are super helpful. Thank you so much!
Thanks very very much for all your videos. So helpful to a concerned daughter and caregiver worried about taking best care of my folks.
I wish you were in Florida so we could go see you.
Awesome info! I am 27 but I have paid off my home and have some cash in the bank. I am not married, so I guess I will leave everything to my mom in the event of my demise. She worked hard to give me a great life and it’s her I owe everything to. In the event I get married I will change my estate planning to reflect my spouse as beneficiary. I got overwhelmed after reading about wills and trusts. I am in north Alabama and really think I just need some basics done. Thanks for the no nonsense guide. Just subscribed to your channel.
If you've paid off your house -- you'll have a line of stable great guys :-) Trust me... Too many women with 50K of credit card debt out there.
Thank you 🙏🏼
Excellent info...being prepared going in most probably contributes to a better working relationship...thanks.
Well said MS 😎
Thank you so much for this video.
I sure wish you were here in central Texas! Great videos, thank you
My mom went to an attorney for a will. She kept insisting on putting her house in the will. She had her house in a recorded beneficiary deed. The reason for the attorney was to validate my statement that the beneficiary deed will invalidate the will, which only had her house in it. At the end of her time with the attorney, they called me and put me on speaker. The attorney said he didn't know about such things about the deed, and drew up a will for her and charged her about $1000 for filling in a form that included wrong first names of heirs! The attorney was informed that his bill would not be paid in lieu of not reporting him to the bar. The daughters ended up sharing the house through the beneficiary deed in the end.
You cannot threaten. Very legally dangerous.
I'm paying attention. I need to prep for our 1 hour meeting :-) Give me time to get it right.
Nice shirt!
Great Video!
Thank you.
Thank you Mr.Rabalais for your 360+ videos; I think I'm on about #60.
Hi Mr. Rabelais, I would like to know that when I die, and my mortgage isn’t fully paid , what can I do now so my children will know what to do to keep the house?
Thanks for the videos, very educational. We have no children. Can you cover topics on childless people? Thanks
Also, on orphan elders with no family or younger friends or anyone to trust.
A real wake up call to me,thanks.
Hope it helped M des S 👍
Thanks for the information. Understandable, informative, free.... Are you sure that you are an attorney??
After 29 years he’s probably mostly retired and just giving back a bit with these vids. Good on him, aye?
He makes money on RUclips based on subscribers and how many views he receives.
good info as usual. thanks
Good to hear RR 👍
Even though I can write my will on a post-it at this point, I still found this helpful.
Thank you!
Hello, thanks for your help! A lawyer sent us a form of many pages asking personal details without meeting us, previous to the meeting. I do not like this aproach. I think we will not go with that attorney? Thanks!
Ali
To go in unprepared makes you a mark for being taken advantage of. They will have you paying for lots of stuff you don't need because you won't know any different. I'm sure there are a few lawyers out there who would not take advantage, but how does anyone know? Be in a position to advocate for yourself. This is true for most professionals you pay money to.
I need to go to court first to have my portfolio’s assets unfrozen.
My independent thinking widowed mom-in-law has recently announced to her two children, (my sweet wife & her brother) that her debt-free property has been deeded to them equally, so it is not going to be "anything they need to worry about." A local atty who updated her will did this. We live in Ga so it's not like driving downtown in her sleepy Oklahoma town to his office in the morning. Recording her deed - making children owners - doesn't this unwittingly create for them a step-up in basis upon mom's death? It's beautiful residence lake property, likely 400k plus conservatively. No debt-Low basis. They built w/ cash in the late 80's. She announced nothing else changed & all is the same. Translation: Everything else she owns is in mom's name = Hello probate!
The LRT is essential to prevent my wife (& her brother) the certainty of probate. Her mom is 83 & the knucklehead atty, in my opinion, just sees this as a will-based planning solution,.
Q? Can titling the deed now INTO a LRT, getting the property OUT of the children's names, solve the step-up in basis she inadvertently has created? I wonder how many good-hearted folk have made decisions to solve a problem but unknowingly stepped into landmine of an unintended consequence? Enjoy each of your videos! Maybe worth a discussion?
Sounds like you know more than Nitwit's attorney.
Every “grown-up” in Peanuts spoke that way.
How familiar are you with a S. Dakota Trust? The advantage of having your Trust where the jurisdiction is in S. Dakota know matter what state you reside in.
If you’re unsure what you’re net worth is from day to day because of investments and seesaw markets, leave percentages.
After my suicide attempt, five or six years ago, I realized that my sudden death would have left my family with a lot of confusing logistics to sort out. Since then it has been a priority of mine to organize my documents and things so that an unexpected death would not be a hassle for them.
Slammed the like.
Could hear the smash from here 👊
Me too! And new sub here.
I always say everyone is normal until you get to know them. :D
Are u ok have not seen u in a while
I like the information you present, but with all due respect I find the presentations to be much too wordy, such that each presentation could probably be cut by half or even more.
And to speak more slowly would help. Still, it better than reading from a script.
This is what most people know about estate planning.......
3:05
All jokes aside. Your videos have educated me far and beyond what I expected any online research ever could - my father passed away only weeks ago. My half sister , like myself, is an alternate beneficiary to ALL assets if the primary beneficiary predeceased our father. Well - she didn't. This person is expected to 'disperse' in equal portions however is under no obligation to do so. Your videos on the Probate process and ALL different scenarios associated with the matter has me binge watching -
I am a widow. I don't have any children. My siblings are scattered around the world. My problem is I don't have any body I can trust. Am I cynical? YES.
Same here. We are what they are calling orphan elders and there are a whole lot of us. Even if we have trusted friends, they are all our age and likely to pass before us. With the younger generation often opting to have no children, there will be much more of this problem to come. So far I have found no answers.
Please don't show us how to write our own legal documents they cost 50% in Billable Litigation Hours.
You should change the name of this video. The people who need to hear it won't click because of the title.
Children...we have a problem with that as there are children on both sides......
All the more reason to have a discussion with an estate planning attorney! And then a good discussion with children about what your wishes are. And listen to their concerns.
Just a suggestion: If there were less stories and more content you’d have more time to touch upon the pros and cons of Wills vs Trusts.
We’re unable to get rid of our deeded timeshare. How can we avoid our grown children from inheriting it because it’s actually a liability and not an asset is what we realized. Should we include it in our will or trust at all to clearly state that they shall NOT inherit the timeshare?
I'm in the same situation , help
You have great imformation! I can hardly listen because you repeat the same thing for over and over. How many different ways can u say it,I feel like a child or you think we are stupid!
So not. Ice of you sayi g. When something is important you have to say over and over.
Speak for yourself; sorry you take this as talking down to you. This is complex information; just like learning anything, repetition is the way it goes in and stays in. I wish he might speak more slowly; you might think he speaks too slow. Remember, it's free information; appreciate that.
I am a nitwit and you have offended me !!!! Not !!!!
😂