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I got a special need trust question but not in this open platform

Question. When I buy real estate. Is it better to register it in our kids name from now before it appreciates to avoid the stepped up basis?

I wonder when he wrote down property it does includes real property?

Lawyer beginning her practice in probate put my entire estate in probate

This video closely mirrors my situation and I have been struggling with how to deal with it. THANK YOU.

My husband and I recently have an irrevocable trust. My question is, is there a place I can go to to get information for what kind of deductions I can use when we do the taxes for the trust is there a website an article some thing what kind of things are deductible there is a Home included. We are the trustees for example the property tax, the homeowners insurance what kind of things can be used as deductions when we file the trust taxes thank you in advance.

You are right,about,government run nursing homes,,my Brother and Sister,were in one,for over eight years,and both have passed,,,,,,,mainly because of inadequate,,Care.

If you are under aged when your parents passed away: the court will decide a guardian for you. In case there are none, there is a mechanism so that your are at safe hands!! Now after the funeral is over, you sit down and think about your pulling together your life!! That’s the immediate thing that one should do!! About siblings, no matter how bad are they you stick together!!

Great video, thank you!

I dislike anything but straight up bequests. Spread it out however you feel is fair, but let it go after that. Anything more is just you reaching out from the grave to interfere in their lives. Again.

If we set up a trust and put our LLC’s for rental homes into the trust do we have to deed all of them to the trust now or at the moment my wife or I pass away so that nobody can sue the trust while we are alive?

How does the IRS know this is a gift? Write gift on a check?

Nothing says you're nothing like a parent who leaves you nothing. Second wife took it all and disappeared. My heart is broken for the rest of my life.

I'm wondering if there can be an irrevocable clause in a revocable trust? Say if I have $ 100,000 in an irrevocable trust, can that trust contain a clause in which my sole beneficiary can have access to a percentage of that amount while I'm living? As if it were a kind of bank account which couldn't be overdrawn.

A bank that has a 6 page checklist BRUTAL experience 😝

A person who leaves a dollar to one person and more for others is purposely causing problems with their own family after Death .

Too much bs, and sideline diversions, could not follow his train of thought. Seems he was attempting to create a lengthy video as his prime objective.

I like to see a future video on tax implication on giving away assets while you’re still alive.

Is this generally the same for the UK….! ???

My mother in law CO-SIGNED for her 27 yr old grandson who she lives with and he is a caregiver and the sister in law who has a durable financial POA failed to make about (5) car payments and the dealership took away the car and the son is upset and I think she was being a spiteful sister not acting as as a competent POA. We are stuck and want to remove her from Durable POA. What do you think?

Hi so we don't have mortgage payment but still need a. Will and what else ? This is K from CO

Why do I hear a skill saw in the background . Really?

My sister won’t show the living will at all which is very suspicious she was my moms power of attorney and my mom did a quit claim deed under my sisters name three days under the influence of medication after leaving the hospital my sister did not had a bank joint account with my mom who she was withdrawing from it to me that was illegal spending moms money when my sister finally sold the house she did not equally distributed to my others siblings. We haven’t heard from her in months knowing she did wrong trying to hide from us just simply being greedy and not showing us the will thats a red flag all she told my other sister that mom gave her everything that’s not sufficient proof only verbal words

Can you make a trust half revocable half irrevocable? When one spouse dies half the money goes to that spouse. The other half (the revocable part) goes to the child benificiary?

How about designating beneficiaries for IRA's? Wife and I each have 900k+ in our own IRA's and have designated 2/3's to our 2 sons. Excluding accidental death together, those beneficiaries will likely have more than 10 years to manage tax-wise distributions from those accounts. (If we left all to the surviving spouse, they would not inherit until the 2nd parent dies and face the 10 year limit to fully distribute the IRA funds.)

You should treat all your children equally, but because you didn’t, now they’re estranged. And when you pull this last loveless tactic on them, no one will be surprised. You will just prove yourself a manipulator. They were lucky to escape your abuse.

What would you say to an executor who breaks into the deceased home where his son was the caregiver and lived there and that home was left to the son. They seize everything they could carry out demanding receipts or it's not theirs and are actively selling it off. Considering that the will says divided between the heirs as they agree. Nobody is being asked, it's all being sold. They also tried to buy the home from the heir for 10% of its value. Problem is 2 heirs do not have money for lawyers and I think the executor is taking advantage of this. Probably could be used for a great "Nightmare Executor" video.

Sounds like an episode of the sapranos.

Which video discuss portability? Thank you Paul

When the RLT is the beneficiary of an IRA )or other taxed investment vehicle), and the RLT states the two adult children are the beneficiaries of all assets, can the two beneficiaries make the RLT pay the taxes and then receive the money "after tax"? It is my understanding that the beneficiaries in this situation have a choice: 1) receive their inheritance and pay the taxes on that IRA money, or 2) have the RLT pay the taxes on that IRA money and receive it "after tax." I'm not sure what the tax rate is for the RLT in Oregon, but one thing to note here: Oregon is not a community property state. Thanks so much for your videos! You're the best.

I really like the note about "Successor Trustee" take his time after my passing. I've been working on selling my house so If my Son does some staging for the real estate sale he could increase the property value by 200K. Maybe this doesn't matter but not sure. I am working on this myself but not sure how long I can sustain the "sell the house" effort. A most excellent "agent" continues to be helpful. ~ all good. I hope to be "homeless". I could see that. No problemo. (off on my motorcycle and a tent ~ chasing the warm weather, oh yea). Thank you again.

What about a grandchild

I am 70 years old with a 26 year old son who is doing well. Real Estate (my home) is my only Asset. Gotta have a plan. It could not be more simple. I think that I am blessed by this. So I guess a Will. - I hope that people that I know at the town office will help with this. Then set up the MOST SIMPLE RLT that I can. Just deed the house over to the new RLT, name my son as Successor Trustee. name my son as Beneficiary, etc. So skip the POA stuff. No probate. I have a heart condition. So I expect to just have the lights out event. You know, just a quick event. Absolutely no one else really matters. Maybe one of those letters for my son to open with "suggestions." But probably not. ~~~ Just getting my fbMP game tuned up to sell what I can now. Currently into motorcycles. Yep! Gonna RIDE WITH BIDEN ! ~those Fox News Zombies (republikkkans) ~~~ Super Yuck.... Thanks so much for this. 👍

Living trust

God Bless, Tanks for the information

Great video. Thank you for educating me on this topic.

Excellent presentation - you should avoid answering questions not appropriate to the subject manner.

Wish you had advice for UK people with joint bank accounts and overseas non uk resident non uk nationals joint bank account holders ..expand to europe too

Boy am I glad I don't live in Louisiana! So many things he mentioned having to go through probate don't in Florida.

What is the penalty for self-dealing in this case, 3:00?

If a person holding a valid durable power also gets himself/herself listed as a joint owner with the principal on a new deposit account with right of survivorship doesn't that constitute a breach of fiduciary responsibility? (And this person is also executor of the principal's will and should be familiar with all its provisions, including that for equal estate distribution to all heirs.) Strikes me as either an attempt to defraud the principal, and/or the principle's estate, or a case of gross negligence as being listed as a co-owner adds no additional powers to those in the POA. Thanks.

Who’s vacuuming?

None of this addresses the real value to rich people of such a trust. A family trust makes the permanent life insurance payments out of trust principal (which is not taxable to the beneficiary) into the downstream trust, of which the descendant is the beneficiary, so that eventually the downstream beneficiary can borrow against the cash value of the permanent insurance policy (which, being a loan, is not taxable income) to fund passive income streams. The beneficiary of the insurance policy is not the downstream trust beneficiary but rather the upstream family trust; these life insurance benefits (which are not taxable income) not only repay the upstream trust for the life insurance premiums (distributed trust principal) but also provides the upstream family trust with a non-taxable increase with which it can continue to fund this arrangement for future descendant beneficiaries of the upstream family trust. The described scenario is true as far as it goes but it is a straw-man that entirely avoids the real scenario for which the ILIT is actually used.

I have all the documents, I’m 64 , supposed to get it at 62 . I kept emailing my brother ( the trustee) that I wanted silver and gold in my portfolio. Too many belligerent emails , so he sold it . I’ve figured out he sold it to my stepdad and mom ⁉️ ( hes my younger brother ) he won’t talk to me anymore over for about 12 years ‼️

What is best way to handle change of address, handling mail?

Wooow I didn't know that 😮😮😮😮

Goes along the same line of thought as "Every man should arrange his affairs so as to pay as little tax as possible".

I agree with you over Dave on this point. It's called advance planning.

You seem very competent. What about fees? Are you less expensive and just as effective as Best Lawyers in America attorneys with tremendous resumes on Poydras Street in New Orleans?

Sorry but have you checked yourself for Lupus?