Irrevocable Trust Questions and Answers

My name is Tina Nelson, I'm the office manager here at Brady Cobin Law Group. Today we are speaking with Board-Certified Specialist in Estate Planning and Probate, Attorney Andrew Cobin. Today our topic is irrevocable trust. We will be discussing what is irrevocable trust, what are the benefits of this type of trust and how does an irrevocable trust work with a will if you have one already.

[@patwyliee8068]

If you place a house in a trust and it is rented out who is required to pay the taxes the trustee or the beneficiary

[@DaphneLetares]

Can you please educate me on if a list of all assets and if their prperties listed should include a current market value so that beneficiaries know what they were left and for what they are worth when receiving a copy of the irrevacal=ble trust? Also shouldn't the bank accounts listed have the amount identified for veneficiaries clarification on their inheritance

[@Jennifr1966]

I have a question. My father died 20 years ago. He left me an irrevocable trust way back then. But that was a long time ago, and he had no idea that my mother would live another 20 years. I'm much older now. In fact, I spent the last 5.5 years, putting off my own life, caring for my mother! Now I find out that I can't even put the inheritance towards a house! Is there a way to change it now?

[@Ethicalhate]

Are you the only beneficiary? If so then you should be able to dissolve the trust.

[@HMoney25]

So basically, it's the highest possible asset protection.

[@followme8238]

It seems like the Trustee did not do a good job communicating with you and making the principal and/or interest available to you, the beneficiary. Unfortunately you need to get a lawyer who specializes in trusts to review a copy of the trust and advise you. That should cost you between 500 to 1000 if it’s a basic trust

[@bettyjones973]

Cost 32:20, I cut it off after this one. I will never use an Attorney who cannot give be an estimate. Don’t revocably or irrevocably TRUST!

[@wayneguy6043]

If it is written in an irrevocable trust” trustee has “unlimited authority” , is that enough for true unlimited authority?

[@daveelsid2238]

Can cash in an irrevocable trust be gifted to the beneficiaries up to the 17k limit per person?

[@paradise6606]

Do not hire anyone who will not give you a complete price for a trust. The paper work is already in their computer the only thing they have to do is fill in the blanks and print.

[@JudgeCommitee-ck5wq]

We love your show what happened o the free amendments funding transfers distributions and settlements costing parents a standard Prebate Nickel or Children a Probate Dime to avoid the Estate Plan crime time and quarter to a dollar on the gross estate plan dollar. We want to avoid the inheritance crime and fighting over legacies. With your oldest clients believing . The legal owner is the grantors benefiting grantees in Trust from the successor trustee distributions. To successor client heir grantee beneficiaries. And the trustee holds the property in trust for them. So correct us with a statute if we are wrong. We learned the trust holds the property for the benefit of the grantees and is managed by the successor trustee. We believe Toby Mathis got it rights it’s the difference between ownership and control so the grantors still own the property out of their hands or control. So Toby so far gets our trillion dollar administration for his team earning 3/5 and NICER 2/5. Harvards in second place and Empire College of Law fell back to third place installing interdiction administrations.

[@tracjay1]

What do you live on ?
How do you pay your bills?

[@steveking8548]

Please let the man speak without saying “uh huh,” “yeah” and “right” after each of his sentences.

[@Legacy_125]

You know she can’t hear you.