10 Reasons Why You NEED a Trust
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- Опубликовано: 15 окт 2024
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Mark, keep being you. Your humor resonates with a ton of adults and makes it easily enjoyable to watch for a whole hour while EDUCATING us!
Thank you for teaching us. You have my business for the RLT!
I had to be facing major brain surgery before I made time to get a trust, and I'm an attorney. Don't be me! Get this done. It's not hard and it's what all the grown ups are doing!
As an executor for someone's will and as a successor trustee for my sister I have seen first hand the differences between a traditional will and revokable living trust. The will requires probate court, lawyers and time, usually 6 - 12 months before the will can be executed, if it is not contested. The trust is just the opposite. No probate, no lawyers except for house closings and some legal questions. The successor trustee can carryout the instructions in the trust immediately and the trust can not be contested. Another significant benefit of a trust comes if you own property in multiple states; no probate in another state, no more lawyers, no out of state court! The trust should be structured for the disposition of the major assets (house, rentals, antiques, art, stock...) and not every little nicknak you own. It should also be used to identify all beneficiaries and what should happen should any beneficary die so the assets can be passed on to your wishes. In most states, you do not need to put your car into the trust since one person/one car can be handled outside the trust by the successor trustee. Financial investments do not need to go into the trust, instead they should be designated as TOD with named primary and secondary beneficiaries. When setting up a trust be sure to also have a power of attorney in place should you become incapacitated. It is also good to have a living will and healthcare proxy to state your healthcare needs at end of life.
Thanks for the comment! It really is SO helpful to have a Revocable Living Trust set up!
Thanks for honesty and insight. Much appreciated and unexpected. Great info that my family sincerely needed. God Bless!
I love learning with you.
Having a MMLLC, how do these concepts apply to the individuals? Each member can structure this way? Our business is filed as an S-CORP.
Alot of your viewers actually love the aggressive approach. Honestly, with my adult adhd, and dark humor.. You're probably the only professional who can grab my attention enough to take these important topics seriously. I'm absolutely serious. Adults with ADHD.. Tend to not take these topics as seriously as they should! (me included)!
It's a tough topic for anyone, but it's soooo incredibly easy to blow off for some of us. Lmao. Q
I'm so glad I can be of help!
where should we create our trust? does the state matter? how to put an llc in the trust so we can be managing member to have control???
That was intelligent to show sensitivity to those afraid of the subject. Yea it’s sales, but you didn’t have to do that. Well done 👏👏👏
Im here for it! Like you read my "questions" list. yeyah
Good information and everyone need to have a trust!! Keep up good work sir
In the state of Nebraska, if you have a Trust and leave the bulk of your possessions (House), to your child as a gift, is that the best strategy? Or, should it not be left as a gift?
How long does it take to do this Trust from beginning ? How long must you have this trust before it goes into effect ?
Hey Brenda! Great questions, if you do a trust with my firm, KKOS Lawyers, it takes about 3-4 weeks start to finish. Your trust will go into effect, once you have signed and notarized it with witnesses, PLUS you need to make sure to fund it.
If you're wanting to learn more about our Estate Plan package, please call Emily at (888) 801-0010 ext. 2065.
would you still be able to pull the equities out of your home for any reason if it was put in a trust? And how does that effect your homeowner tax filings?
I can see that you really love what you do. I'm still trying to figure out my life's purpose. I keep picking the wrong things. I enjoyed this video and learned a lot.
it's very common. don't stress too much about it. it may take a long time.
In which state do you usually open trusts?
Great info!!💪🏽💪🏽
Great video. Thanks!
I am a partner of three LLC . How Can I create a trust for all my business when I just one of the ownership ?
Like playing Russian roulette with those kids either you’re in or you’re out of the the living trust 😂😂
Does your HSA have to form an LLC in order to put your stocks & crypto in? Can you put stocks in there to?
I had an attorney, who is now deceased, who prepared a warranty deed transferring my home to my living trust. He said to have my successor trustee record it after I die. If it's recorded prior, he said it would probably raise my real estate taxes. In Florida we have a 'save our homes' provision in the state constitution that says our real estate taxes can't go up more than 3% a year on our personal residence as long as we own the home. If a transfer is recorded, they might try to cancel the grandfathered-in real estate tax benefit that I currently enjoy. What is your take on that? Is there any problem in having my successor trustee record the deed upon my death?
Who can prepare a trust? Or who do we go to to set us up?
My law firm, KKOS Lawyers, CAN help! You can email my assistant Emily at emily.delarosa@kkoslawyers.com or schedule your Estate Plan online using this link:
kkoslawyers.com/schedule-an-appointment/?RUclips+Comments&Comments&KKOS+Appt.+YT&KKOS+Appt.+YT
@@MarkJKohler on your website is the trust... the estate plan or comprehensive estate plan? Wanting to know cost.
@Mark Kholer I recently opened a ROTH IRA Checkbook with DIRECTED IRA and KKOS. The ROTH IRA owns the Roth IRA LLC. Can I still put thud inside my trust? Thanks
Deb, GREAT question! The answer is yes! You need to put this in your trust, or else it will still have to go through probate. Reach out to Drue in the Estate Planning Department, and she can walk you through the how. Her number is (888) 801-0010 ext. 2022 or you can email her at drue@kkoslawyers.com.
My mom does not own real estate and her only assets are her checking account and 2 small insurance policies, does she need a trust or just a simple will?
Remember that with a will, the executor must bring the will into court in order to distribute the assets. If the checking account is small, the whole account may be spent on attorney and court costs in order to administer itself.
@@andreawisner7358 So what do you suggest?
in ga or other states, they can waive probate, no attorney needed
❤❤❤❤🙏🙏🙏🙏🙏
It’s allll good bring it on. Let’s learn 👍👏🏼🙏🤩🥰🥰🥰
Living trust are very important because as a Probate real estate agent, I see the reasons why everyone needed a living trust, but unfortunately, didn’t get it 😳😱🤦🏻♀️🙄
Well how do i start this trust, any recommendations?
Hey Chandra! Please, please make an appointment with one of my attorneys. I promise they will take care of you. You can email my personal assistant Emily at emily.delarosa@kkoslawyers.com and she can get you scheduled!
How does a trust protect my things i a prolong nasty divorces where things are a mess...
Will a Beneficiary Deed bypass the Probate?
Good video!
Can you do a video on multiple cds on at same time
Appreciate you sir. essential information, delivered in a light-hearted manner.
I appreciate you too! Thanks for watching!
We have 1
Love the info
Dude how did you use to connect your ipad to your screen?
Awwww man I missed the calendar 📆
What’s an assault rifle? I’m only familiar with sporting rifles! I’ve never seen a rifle assault anyone! Trust are good for machine guns! They sound nicer than these assault weapons you speak of!!!
Not sure if you say this yet, for a trust should we have a EIN?
Yes, Trust has EIN numbers. A Trust is an entity.
@@josephstephens9782 And we have to file taxes every year? even if no money inside of the trust yet
@@travis10466ny The Trust does not exist unless it is funded. But, in general you will file a tax return if there is taxable income.
@@josephstephens9782 thank you, are you a CPA? Is there a way we can talk. I know getting information cost money, I'm just looking for the right information so I can do things correctly
My fear is I don’t have enough assets to concern myself with a trust. Do you offer consultation calls?
I just did a consult with someone on his staff. It was $1,200 for 1 hour and it includes an LLC SET UP.
@@nancyFLRN thanks for sharing.
@@nancyFLRN these guys do our taxes and drag their asses and $1,200 for a LLC is pricey costs normaly $400 that is it
@nancyhepner, if you have any assets at all, you need a trust. Otherwise, your family is going to have to go through a lengthy and expensive probate to share your assets with whomever you wanted them shared with. Trusts are not just for investors.
I found your utube tonight....so confused...have sole prop small business with sch c since 86....help.
Susan, we CAN help! Call my assistant Emily at (888) 801-0010 ext. 2065 and she will be able to get you in a consultation!
Can my 17 year old buddy set up him a trust?
What kind of trust? Express Trust, Common Law Trust, Living Trust.... ?
I need this , few seem to know this info
Any one has a list summarized?
confused once you started to draw
I want a free book. Lol
A law firm can't be owned by a marital trust unless both spouses are lawyers? I believe this is true in at least some states.
Thank God you have a sense of humor... That's what I love about you!!! Keep the humor... even about death... If you can laugh in the face of death.... death might just stay away from you.
Thanks for your support!!
😊
Wow so many scam comments
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You talk waaaayyyyy too much. Just get to the points.
We still do not have OUR TRIFECTA HELLO AND we paid good cash for our tax stuff and STILL 4 weeks later we have HEARD NOTHING and still no help! You talk a lot of talk which is starting to sound cheap without action on your end for our tax return - we call it the put off been there had it done to us and now we see you guys do the same thing great giving people hopium with NO results f-ing sad and pissed!@!!
Hello TheGoldcolor, I am sorry to hear have had this poor experience. We have thousands of customers a year that have smooth great experiences and occasionally, communication problems happen. We want to make sure you are taken care of and have a good experience. If you could please please reach out to my assistant jack@markjkohler.com with your contact information, he will make sure you are taken care of ASAP and have someone reach out to you right away.
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