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This was as clear as mud.

Just studying up on trusts. This is very helpful

Thank you for such good information!

would love to see a comparison between trusts and foundations and which ones are better for different situations.

I like your video presentation. It is informative too, at the same time. Thanks a lot for your guidance!

Definitely would have got a clearer understanding had we not used the Spanish law scenario.

May you do a video on trust tax residency? Especially if grantor hops from country to country and grantor tax residency changes

Greetings Chief. I thought you were going to miss the jurisdiction distinctions. Many don't address this, don't want to, or don't know about it. You are great.

would reccomend when you are doing the examples, I'm sure flow chart of some sort will help , they can even be ona a whiteboard

Quick question do you recommend a book that explain all these topic you talk about in detail!? Thanks

It's also important to note- something I had to catch in my studies. A trust and trust fund are different. A trust is an agreement or relationship. A trust fund is a legal entity

If you transfer your property (I’m a Uk resident and considering setting up a UK private revocable trust) in to a trust, and later are declared bankrupt as an individual, can the authorities repossess the property I previously owned that I placed in to the trust? Also, can you place a property in to a trust in the UK that has an outstanding mortgage on it to me as an individual? Thanks

Are beneficiaries of a Jersey islands discretionary trust responsible for paying taxes on earnings of the trust assets? The beneficiaries have no control over the trust as it is discretionary so does the IRS go after the individuals?

What are some contemporary issues in taxation of trust?

Can you recommend a video for someone who wants to live overseas for more than 6 months a year with only a PO Box or Mail Etc address in the USA ? Would this be a potential nightmare for my accountant ? Thanks

I often hear recommendations for real estate and securities to be placed in trust to avoid or minimize taxation, but it seems the flip side would be not being able to write off real estate expenses or tax loss harvest security losses. It's an unpopular view, but I avoid 401Ks and opt for a combo of maintaining a taxable securities account and a Roth. My rentals are individual LLCs. I've been on the fence regarding trusts, but will follow your channel for more insights.

How did Nelson Rockefeller earn $140 million in one year and not pay one red cent in taxes?

Can you file for a tax deferment if the home is in the trust?

Either the grantor or the beneficiary will pay the taxes. Taxes can be shared between the two. For example, the grantor pays taxes before depositing the funds and the beneficiary pays taxes for capital gains if trust funds grow.

How gave tax law changed since Jan 2021?

Amazing and very valuable information, thanks for sharing!

How about a unitrust, where one beneficiary receives 5% of the Trust's assets each year, and the other beneficiaries divide the residue when the first beneficiary dies? We are the first beneficiary, and the Trust is claiming that we should pay ALL of the Trust's taxes! I think that the unitrust is NOT a trust as envisioned by the IRS, but rather it is a corporation who should pay the taxes from its holdings. What are your thoughts?

Can we do this with a foreign grantor trust?

This is really good. Are you able to walk us through a Simple Trust that has Dividend (Qual & N.Q.), Interest including TSY int, and ST and LT capital gains? I'm struggling to find resources that explain the rules and math when a Simple trust distributes out all income but cap gains - like how much of each income (loss) and deduction item allocated b/w Trust (1041) and Beneficiary (K-1). THANK YOU.

Still a bit confused....say my wealthy father died leaves me ten to 20 million. It's taxed upon transfer to me. If I put that money in a trust and set up a spendthrift is it tax again every year or month I receive a distribution?

So if I have an offshore trust(panama) with a charity as beneficiary (but not paid out right away) meaning the assets income is accumulating for so many years(say 20 years) if I managed the investing accounts if the Trust from Canada would the greedy government ask for tax ?

I inherited my parents property. I’m the sole beneficiary of the revocable trust. Do I pay taxes on it. Thank you for your information and video.

Hi, great video. @ 04:01 you mentioned about the idea of many beneficiaries under the trust, but did not develop the idea. Fist: how each of the beneficiaries will take advantage of the Trust (% of money for each, is there a difference or cap of money for beneficiaries like step brother / sister from a second marriage on the grantor side? in case there are profits within the Trust, and if the beneficiaries have to pay taxes, then will it be equally shared dues to all the beneficiaries ?). thanks.

Hey Michael, love your videos. Q1: can you be a beneficiary or contributor to a Canadian trust while being a non-resident? Q2: can you be a guarantor and a beneficiary of a trust at the same time?

So In a trust, if taxed at the trust level and not beneficiary level are you still taxed on the appreciation of assets distributed to the beneficiaries?

If you put a house or condo into a trust and the beneficiary rents the property is the rent considered taxable?

Interesting. As a Living Trust is not public or filed anywhere, unless one is reporting income into the trust, how does the IRS even know it exists? If you have an LLC, there will be tax forms to file and theoretically tax liabilities are handled. Or, if you are earning creative Royalties on books, songs or movies, etc., it is income and will be taxed. So other than a lump of Assets contained within the Trust for the beneficiaries upon death of the Grantor, where does the IRS learn about the Trust? I am a bit confused about this aspect of a Revocable Living Trust, as you can tell.

vid starts at 1:30

If a Trust is unregistered, it's a private contract is it not? Private contracts are outside of the jurisdiction of the Government as a rule of law in the US. Registration brings them into the realm of Ceasar. Thoughts?

mother died august do i how do I do the taxes on a trust if its just a house? I do hers first the house payes property taxes only so its not making money

video starts at 1:16

I have a wealthy client in USA, Florida who has an offshore account that wants to acquire 1.5 million bitcoins but wants to create a trust via charitable donation to mitigate or avoid taxes is this possible???

Correct me if I'm wrong, but I believe the part you're missing is life insurance. The grantor gets life insurance policies and the payouts go to the trust fund, then they put that money back into the policy and get loans off the policy which aren't taxable. They aren't canceling their policy they're hedging interest in the market higher than the loan interest. And if they want anything it trickles down to business expenses or their non profit foundations. That's why Trump had a residence in all his hotels, the one in Trump Tower is an office. He's technically paying himself, but no money is moving. He sets the amount to write off because he owns the hotel and as long as he uses that for improvements or donates it to his own foundation it's not taxable. The foundation only has to use 5% for charitable acts. The rest is to "run" it.

I'm the trustee of a testamentary trust that was a part of my mother's will. It is the 1/3 of the estate that went to my sister who has Alzheimer's. 100% of this money will go to her care. This is the first year. HAve completed my 1041 and Sch. D. The trust had a loss overall from a bunch of stocks that were sold to generate cashflow. But there was some minute interest and 3100 in dividend income (1099DIV) However overall a loss for the year by quite a bit so the trust doesn't owe any taxes. The trust will carry the tax burden on all this money. So do I need to file a k1 for my sister and give her husband a copy? If so, she shouldn't have to pay tax on the income generated as that would be double taxed. I'm all clear on the federal forms but stuck on the K1. Also do I need to file state taxes? My mother created this trust in FL - no state taxes - but I live in NY. I hope I am making sense. Thanks!!

Wow.

my family didn't use a Will only a trust with definitely under 1 million. I need to confirm that when applying for an EIN I click "Trusts", then "irrevocable" because they passed. If we went thru probate, then it would be "estate" EIN. Also, do you know what the sub question about section 645 or something being taxed as part of an estate means? Thanks.

Trust as it is is very complicated, you try to expain it putting in different senarios and worse you add in Spain and America system. Try a smaller focal point. Or talk about Spain and america seperately. Dont waste clients' time be concise.

Sounds a bit complicated.

I've just been on both web links. One does not work. The other, I have not been able to work out how to get in touch. I am getting a passive income from FOREX trading and looking at what setup to have in order to pay 0% tax. I am thinking of setup a trust in a tax haven, and being the beneficiary. Would that work?

What a big rambling!

Uk law sane as usa?

Revocable Trusts become IRREVOCABLE TAX EXEMPT TRUST upon Grantors death. Trust only becomes taxable if they are embezzled from illegally and taxable to embezzlers

All taxes are voluntary in the U.S... unless your operating as a U.S citizen or through an IRS vehicle.

Very confused 🤔

"if you're in a jurisdiction with no tax" there is no tax in the common law, the only way anyone, esp the government, can get jurisdiction over me is if there is an injured man or women swearing under oath that I hurt them

A lot of mumbo jumbo

Trusts are not recognized, however, contracts are recognized everywhere, and a properly formed trust is also a private contractual agreement, which is upheld globally.

I don't get it. Is this pertinent to Americans? This dude doesn't sound American.

Spanish rules.....really?????

Long winded

another liar.. lawyer sorry

seem like a boring nomad capitalist clone. nomad is also misleading people