Thanks government for creating such a mess of a system that we have to go through the expense of figuring this kind of crap out.
@duster3250
8 ай бұрын
They are crooks thats why hoping theyl tire our beneficiaries out til they give up n let big gov take the$$
@sowosowo8214
2 ай бұрын
not that hard to read 😂 thankful for things like this because theres family member that will try to take the whole house and kick the other family members out.
@kinvert
2 ай бұрын
@@sowosowo8214 Yeah? Who would enforce that crap? The government. Otherwise the rest of the family would deal with it.
@jussme8820
2 ай бұрын
They do it to confuse the sheeple but what really angers me is how much money they STEAL to simply piss it away
@Comments1-vc8jg
Ай бұрын
Government? Try blaming your crazy uncle / aunt or drug addicted siblings....or greedy lawyers. Or yourself? Aside from avoiding probate (which can actually help people from getting screwed over), trusts are mostly about dispersing and protecting your assets.
@Elizabeth-yg2mg
3 жыл бұрын
I agree with the others--the way you give information makes it go right into my brain. You seem like a "safe" attorney and I'm gradually watching all of your videos--thanks.
@alluniquefashion6202
3 жыл бұрын
HE IS A GREAT TEACHER. I AM KEEP WATCH HIS VIDEOS. I LEARN A LOT FROM HIM
@StevenMRA
3 жыл бұрын
I am a retired 51 year old veteran who is now a 2L in law school. LOVE your videos. Not the area of law I plan to practice (though you certainly have my respect brother) - I am attending law school to become an ADA in Alaska (where I was stationed and still have a house) I post your videos to my FB page - you have a great knack for explaining things in a way that they are easy to understand. This channel was a great choice to put your area of the law "out there" and to help folks understand estate planning. Of course "Always consult an attorney" - be well - and thanks for your hard work in making these videos.
@Elizabeth-yg2mg
3 жыл бұрын
What is an ADA?
@StevenMRA
3 жыл бұрын
@@Elizabeth-yg2mg Oh, sorry - Assistant District Attorney. I should avoid "jargon" and just spell things out - my mistake.
@Elizabeth-yg2mg
3 жыл бұрын
@@StevenMRA Thanks--good luck!
@ginalowe9103
3 жыл бұрын
Assistant District Attorney.
@ArnoldZiffle-jw2mv
3 жыл бұрын
@@StevenMRA seriously you need to get into estate planning when you start your practice, you will help all your clients avoid probate & other negatives. I worked in a big estates & probate department as a young person & it was easy once you learn the rules. All of our corporate business clients eventually became our estate planning clients because its just a natural progression.
@reneebourgeois8181
3 жыл бұрын
Love your howling pup in the background! Great sound effects of we who have to deal with estate!
@Probate_Help_Palm_Beach
3 жыл бұрын
Love all the videos but this is my favorite because it's A)very informative (as always) and B)LOVE the person/human side of hearing the dogs barking in the background :)
@lilliemoss4642
Ай бұрын
Mr Paul Rabalais Out of all the videos I've watched today on this subject, Your explanation is the easiest for me to understand/comprehend, Thank you.(Sometimes Lawyers assume all people have the same level of vocabulary as them or they intentionally talk over your head because they want to intimidate you)
@letslearn3487
3 жыл бұрын
These videos really helped me work through knowing the difference between the 2 choices for a trust!
@winstonanglu
4 жыл бұрын
Bonjour, l am a Canadian who lives in Vancouver British Columbia Canada. I watch all of your KZitem videos in your channel. I love your videos.
@americasestateplanninglawy1946
4 жыл бұрын
Thanks for watching from Vancouver! 😍
@donreinholz8121
3 жыл бұрын
Thanks for keeping us informed!
@hmomoney1
2 жыл бұрын
thank you for being crystal clear in your explanation, happy to have found your channel
@debbiedouglas2264
3 жыл бұрын
I have learned so much from your videos! Thank you so much for sharing your knowledge with us. It’s been a huge help to us.
@phyllisgovia4253
2 жыл бұрын
Hello, thank you! I have a very good elderly friend who doesn’t understand these things and wants to leave certain assets to his children. The fact that he is very hard of hearing even with aids and I can use subtitles fir him to read is a great help.
@user-ou4pi2gr5l
10 ай бұрын
Paul I love your informative videos but after going to a lawyer, I was surprised to learn you can put just your house in an irrevocable trust and not other asserts.
@ragefulhippie6273
Ай бұрын
Lawyers lie all the time and their first obligation is to the CORPORATE courts, not you.
@arturogonzalez9555
13 күн бұрын
The protection you get is you can put your house in 1 trust folder, your car in another, wife's car in another, and so on all in sub trusts separately so if you get sued, they can only get, say your car if in an accident. Nothing is in your name. Every sub trust with its own name. They can't penetrate anything else.
@MsKaykay626
3 ай бұрын
Great teacher. Presented in very understandable terms
@mogabian
Жыл бұрын
Video was very well done. I like how you simplify the information so it makes sense. Some of these legal jargons are difficult to comprehend.
@iamthenews5624
2 жыл бұрын
Revocable Trust: You can change it; Avoiding Lawyers; They become irrevocable when they die. Irrevocable Trust: You cannot change it; To avoid state taxes; Get assets out of their name;
@DollyC69
2 жыл бұрын
Concerning state taxes, are you saying you don't pay them if they are in an irrevocable trust? Sorry, not understanding.
@chartpattern4603
2 жыл бұрын
I appreciate the video, but I'm more confused after watching it than before. You probably explained it well, but it's just an incredibly complicated subject.
@clementaustrie6371
Жыл бұрын
Need to watch this 10 more times to gather more ideas. But from the first listen it helped a lot. Thanks for sharing, shouts from NYC!!!
@mariedigby4
2 ай бұрын
Thank you, Paul! Your videos and resources are invaluable to me as I finally begin the financial education for myself I never received when I was younger! Infinite gratitude to you!
@forlingchan9237
11 ай бұрын
Thank you so much for giving such good video. Your explanation is clear, straight forward and I am going to watch all your videos.
@charvidana4671
3 жыл бұрын
Thank you so much for your videos. You explain everything clearly, giving me the ability to understand what you are teaching us. This is coming from someone who has problems in comprehending and retaining information I hear. Especially ‘boring’ things about Real Estate. Thank you!
@explodingdynamite5535
2 жыл бұрын
🤣🤣
@explodingdynamite5535
2 жыл бұрын
But so true
@ritatharp5238
3 жыл бұрын
God bless you for sharing this information. I have no experience on any of this. I'm learning.
@nephafranks9688
2 жыл бұрын
truly appreciate the way you present this information
@elsiewest9235
3 ай бұрын
I think I like the revocable trust because that way you can kinda like change things and take things out so I’m gonna go revocable. Thank you for your input and keep on putting out more information about anything thank you.
@donaldhughes7234
2 жыл бұрын
Thank you for breaking this down as simply as possible.
@billligon4005
Жыл бұрын
My partner and I just applied for Medi-Cal (Medicaid) to continue his stay in a Nursing home after the 100 days of Medicare (2023). We have a Revocable Living Trust set up in 2013 (to avoid Probate), we have assets of $103K, one car, one home (well under Medi-Cal limits) and some some stocks which we hope will be protected from the 6-year "Look-Back" of Medi-Cal. So I guess need to talk to lawyer who set up the RLT, but hope we have done it right.
@samnmee66
9 ай бұрын
Assets or real estate in a revocable trust are still subject to state estate recovery so a lein could be placed on your home, but if its your primary residence the lein sale wouldnt be enforced until after both spouses pass away.
@Ted204K
2 ай бұрын
I want to set up both types of trusts and don’t not want ANY attorneys involved after the setting of the trusts with total control. In Detroit a greedy attorney is on trial for stealing money from the heir to the Carrhart estate.
@dannyfrancis8944
Жыл бұрын
Answered my questions. Thank you for serving those who you’ll never otherwise interact with.
@danielstevenson1250
8 ай бұрын
In SC, if the property adjoins the homestead property,nursing homes can’t touch it,even if a road divides it. If property is in another area,but you use the land for income,they can’t touch it.
@terrysavage825
3 жыл бұрын
Hi Paul - great job on the video. A possible topic might be “what if the trust was not funded” (for personal reasons…)
@kimjah758
10 ай бұрын
This was really good. Way better than what I've been reading online which really wasn't helpful to the specifics. You may think you provided high level, but I thought was very detailed. Thank you!
@americasestateplanninglawy1946
10 ай бұрын
Awesome, thank you!
@AfrikQ10
2 жыл бұрын
It's better to live with some/ certain protections that can't be changed in the irrevocable trust funds. Reasons being changing times to lesson stress.
@toriless
2 жыл бұрын
Yes, something like property is more appropriate in a irrevocable trust since it cannot be spent down like an IRA. The IRA would be subject to restrictions.
@cliftonconnor9389
2 жыл бұрын
Best video yet I have seen ! So thank you very much for the clarity!
@ashakuldip1657
3 жыл бұрын
Sir, thanks again for posting these educational videos.
@jaliscorojo1
2 жыл бұрын
Hi Hope You Are Well Thank you for sharing so many years of school very easy to understand videos. Hope one day youtube will have a honor award to best video of the year informative good content,
@jackmayberry6295
7 ай бұрын
Appreciate the effort! Currently trying to do a trust and VERY USEFUL! Thanks
@rogerwaynebailey
3 жыл бұрын
Great info, Thank You Sir!
@LALITABICHANDANIYourTaxAdvisor
3 жыл бұрын
Thanks for your insight , so the question on irrevocable trust is : For IRS / tax purposes who pays the tax . Does the trustee (parent) pays the tax or is the income from the trust to be reported to the beneficiary and ben has to pay tax. Would appreciate your answer. Thanks.
@Elizabeth-yg2mg
3 жыл бұрын
Paul has a video "How to do trusts get taxed".
@efraincordero864
3 жыл бұрын
I appreciate all of your information on living Trust Thank you.
@americasestateplanninglawy1946
3 жыл бұрын
Thanks EC! 😎
@WealthwithRentals
4 жыл бұрын
Great videos and very important information! My question is can someone have both a revocable and irrevocable trust at the same time?
@toriless
2 жыл бұрын
Yes, but they should be titled differently. Assets you do not want to be available for redistribution vs those you want without restrictions in the other.
@kimberlyo2037
Жыл бұрын
Thank you for this information! You explained everything very well. You said to ask questions, so here’s my question😊 My situation is I’m going through a divorce, and I hate to have to sale our home since Hawaii real estate has sky rocketed I would like to pass the home to our children instead of selling it, so I was thinking to do an irrevocable trust, to ensure that the home will in fact go to our children, since we will be divorced, but my husband will continue to live in the home. And he has incurred debt that our children are willing to help pay off, but they want to know for certain that they will inherit the house. Is a irrevocable trust a good way to ensure the children will get the home?
@davidmason1043
3 жыл бұрын
Fantastic info! Maybe covered elsewhere, but I'm curious how rental land (such as farmland) and principal residences are treated inside an irrevocable trust.
@toriless
2 жыл бұрын
They are treated like any other asset but you must title the deed to the trust not the beneficiary. Deeds are all the same regardless of use.
@lequitaward9265
2 жыл бұрын
Thanks for this valuable information. I was just about to do a quick claim, for my home, to my grandson. Luckily, I seen your video, I have 6 grands, and I will be doing the irrevocable trust, instead! Thanks!
@noel888
4 жыл бұрын
I wish my lawyer was as forthcoming with all this information as you are describing here. I am 91, and he gave me a revocable estate will. Listening to your descriptions, it would automatically go to probate, and my heir would have to go through all the legal mess of getting the home i am leaving them. Nothing in it mentions who gets the personal belongs of my home, tv and furniture and etc. I thought whoever i leave the home to would have the discretion of handling it themselves. Now i most likely have to have it redone to a revocable trust.
@ironhorsegladiator5034
3 жыл бұрын
Your lawyer is into making money and not helping, that's how most of them operate.
@kayBTR
3 жыл бұрын
You should watch his video How to Write a Will in 4 Minutes.
@Lili-xq9sn
2 жыл бұрын
Look into a Lady Bird Deed to avoid probate.
@toriless
2 жыл бұрын
Write a will and get a irrevocable trust and eliminate the garbage your dumb lawyer did. Put accounts in both names, designate beneficiaries on IRAs, etc.
@rhrh9128
Жыл бұрын
Is an revocable trust immune to liens imposed after death but before the estate is sorted? Do all revocable trusts become irrevocable upon death of the grantor? If not, is there a short answer to why or when? Thank you for your simple and easy to assimilate descriptions of very complex monetary establishments.
@taniaion7145
5 ай бұрын
Thank you soooo much! you have eased a huge burden off my shoulders with your sucinct and robust explanation :)!
@Lovelydancerss
10 ай бұрын
Thank you for the concise information. I know what direction to take.
@addanetorica311
Жыл бұрын
studying for series 66. thanks for the vids
@student_of_life9656
9 ай бұрын
Thank you for taking the time to explain
@Faith12Man
4 ай бұрын
Never heard of this until I got a job working with deeds. America has the poorest education it's insane 😅
@janeksilva
11 ай бұрын
Thank you for the advice. Definitely beneficial for my future usage of trusts!
@MonikaAdam-zl9ep
4 ай бұрын
😂😂❤❤❤😅 this is an orginal person, i love it! And that cute Dog ❤, thank you for Information i follow, this is not a fake person!!! This is good.
@jacquiedresser8610
Жыл бұрын
Thank you for explaining this subject to so clearly. I'm a new subscriber and learning so much.
@mattgators13
Жыл бұрын
Great explanation. Tax accountant that does prepares plenty of these trust.
@davidwilliamson6583
Жыл бұрын
THANK YOU.....VERY WELL EXPLAINED.............SAVED...FOR FUTURE USE FOR FAMILY...ETC
@Bambirita
3 жыл бұрын
Can you change your children from inheriting from the irrevocable trust years after it has been set up? (Alabama)
@dlbutler0113
2 жыл бұрын
No because it’s irrevocable which means the person is deceased and they were the only one able to make changes when it was a revocable trust.
@DJwest231
3 ай бұрын
Can a Revocable Trust be amended to remove a beneficiary?
@jeffwilson4972
3 жыл бұрын
Paul, thanks for the very informative videos. What credentials should one look for in an Estate Planner to ensure they are qualified?
@floridasaltamerica4440
8 ай бұрын
So I’m hearing Nursing home quite a bit during this conversation and so those that make exceptional income long term care plan is essential with a trust
@TheMerriell
3 жыл бұрын
Awesome Sir!
@lt3074
3 жыл бұрын
thanks for clarifying the difference
@Nick-mh6iy
4 жыл бұрын
Paul, great informative videos. Thank you for sharing this information. In one of you videos on Trust, you mentioned Testamentary Trust. Can you do a separate video on this topic relative to "Bloodline" highlighting pros and cons. Include details on taxes and inherited IRA's. Thank you.
@lillithsternin7428
3 жыл бұрын
Thank you Sir!!!
@Californiansurfer
2 жыл бұрын
Thank you. You cleared the fog. I finally can sleep again. Downey California
@lynnhezeltine3521
3 жыл бұрын
I've heard of people setting up irrevocable trusts specifically to pay for funeral and burial expenses.
@toriless
2 жыл бұрын
Yes, certainly possible since those conditions will not change.
@dutchleussink156
2 жыл бұрын
Thank You Sir
@hardickconstructionllc8571
2 жыл бұрын
Are you familiar with the Laws that give the irrevocable trust the power to define what income is? Thank you for your explanation on the differences between the revocable and irrevocable trust.
@chopsooy
3 жыл бұрын
Thank you, thank you, thank...Paul
@mauhawkiam
5 ай бұрын
Very informative. Thank you ✨️
@adamginsburg6072
3 ай бұрын
Thank you, great info!
@markdeloscobos3943
Жыл бұрын
Great video.....informative and clear.
@vlogs-tv5yu
Жыл бұрын
I need to know more. So lost and don’t wanna take any step until I know I’m maligning the correct decision
@720stateofmindbyyaalonel2
2 жыл бұрын
great demonstration
@MoveInChrist
2 жыл бұрын
Thank you so much! So helpful!
@wavechamber
2 жыл бұрын
Which one is the right kind of irrevocable trust that is for a single mama with two children?
@charlesrosaly
3 жыл бұрын
Good job Paul, Thank you creating this explanatory video. AAA+++
@lupevaldez9460
4 жыл бұрын
Can both forms be in effect, or is it’ one or the other?
@toriless
2 жыл бұрын
One or the other, however you may have one of each with different assets in each but no mixing.
@sivhuskycarrillo8395
2 жыл бұрын
Great video thanks for you time doing this great info.
@ironhorsegladiator5034
3 жыл бұрын
I called my county's recorders office and asked what form is needed to file the Beneficiary Deed and they refuse to provide forms or respond to questions and say - see an attorney, knowing these things can be done by anyone and without an attorney via legal forms and I am yet to find the offices that provide these forms. I believe one would need to hire someone like you if they have so many assets and children, but not for the average person with only a home and a few cars.
@Cwra1smith
3 жыл бұрын
You are best off hiring a trust attorney. Ask me how I know this.
@toriless
2 жыл бұрын
Create a trust, then quit claim or sell it to the trust. A sale would be subject to excise tax but impossible to challenge unlike a QCD which is a good faith agreement.
@JerryNeusbaum
Ай бұрын
@@Cwra1smith how do you know this?
@Cwra1smith
Ай бұрын
@@JerryNeusbaum They know things other folks don't. I've seen horrible problems arise going DIY or on the cheap.
@normahamilton2985
3 жыл бұрын
Thanks. Very informative. Irrevocable Trust for me.😍😍😍
@clouddragonz
3 жыл бұрын
Thank you.
@terrybirdsell6777
Жыл бұрын
Excellent! Thank you!
@DiscoverPianoTV
3 жыл бұрын
This was very helpful, thank you for posting!
@americasestateplanninglawy1946
3 жыл бұрын
Glad it was helpful!
@Lili-xq9sn
2 жыл бұрын
@@americasestateplanninglawy1946 it would be more helpful if you answered specific questions in the comments. Thank you.
@mgmovassaghi1733
2 жыл бұрын
Great presentation thank you
@hivolco151
2 жыл бұрын
very useful information.. Thank you!
@u235u235u235
2 жыл бұрын
summary of video: irrevocable trusts let you protect your assets from lawsuits/creditors, and to cheat the govt of money. the best irrevocable trusts are in banks outside the US away from US courts who can often penetrate irrevocable trusts to pay creditors or the govt. Don't you love me now?
@theherbalangel9766
Жыл бұрын
Yes, thanks!
@pedroxeta8496
3 жыл бұрын
If a beneficiary is also the trustee of a irrevocable trust and refuses to share any information with the other beneficiaries. What actions can be taken by the other beneficiaries to understand what assets are included and how they are being managed?
@toriless
2 жыл бұрын
Nothing, you could try to sue but no possibly to no avail. This is why the trustee is so important. Assets in probate as easily challenged but no in this situation.
@em1ownerify
7 ай бұрын
My grandparents started I assume a living trust in 2011 They died 2020 and 2023 My mother and me are split beneficiaries. It’s a 9 million dollar trust. We want to both share the house and live in it and I can’t find any clear documents for if we can and if the house remains in the living trust or needs to be sold
@user-hz3wh9ei5d
3 ай бұрын
Your videos are excellent. I like the way you start with basics. Generally in a trust, such as a special needs trust, is a bank or financial institution named to hold the money or securities? The second part of this is, if an institution is named and they have merged, been sold, or are no longer in business at the death of the trustee or the one that set up the trust, what happens at that point?
@terirockel8903
2 жыл бұрын
Great article!!!
@KidCity1985
Жыл бұрын
I love these videos
@wzwcat
4 жыл бұрын
Thanks so much!
@bettycapps
2 жыл бұрын
Thank you so very much.
@lilishyta-ep4wr
Ай бұрын
Every where in the world automatically the assets belong to the children by the law no need for probate.
@mernafrederick5153
3 жыл бұрын
What is the instrument one would use to leave money to kids currently under age 10 but I don't want them to get it before age 25? If you covered this in another video, a link would be most appreciated. Thank you for what you are doing!
@MoorhanTheGreat
4 ай бұрын
Thank you
@michaelrozell6661
6 ай бұрын
Need to do a irrevocable trust for mother in law who has dementia,while we can still convince her its the best way to not lose a lifes worth of wealth. Nursing homes can run 5,000 to 9,000 per month and burn up a pile of cash quick.
@carmenhall6006
2 ай бұрын
thank you !
@beaconoflightinstituteforv5947
Ай бұрын
Which one would be of more value and / or beneficial when you apply land trust/estate planning
@AnnePeaceWithGod1986
2 жыл бұрын
Can you answer my question quickly. This is important. I live in Louisiana, and my mom just inherited 10,000 but the issue is she is on SSI, foodstamps, housing authority, Medicare. Basically on all government. What would the best thing to do without getting off the government? Irrevocable trust?
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