Make Your Trust Own Everything! A Proper Explanation

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Күн бұрын

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Certified Enrolled Agent Karlton Dennis has seen everything in the game, using his knowledge to take advantage of his tax-return every year to write-off some quite luxurious items. The thing is, ANYBODY can do this! How? Find out on today's Taxes Made Simple!
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*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
#taxes #taxfreeliving #taxexpert #taxreduction #llc

Пікірлер: 436

@karltondennis Жыл бұрын

Hope you guys enjoy this one! If you haven’t purchased your ticket yet, I’d recommend signing up now for the Tax Free Wealth Event! We will go over exactly how to make sure your LLCs and Trust structure is setup for maximizing tax savings and remaining anonymous! See you there! . www.thetaxfreewealthchallenge.com/join-thechallenge

@lejontajones Жыл бұрын

I need your help

@amtech721 Жыл бұрын

What is your official title in the industry?

@erikhayes1 Жыл бұрын

This was awesome Karlton. I'm glad you emphasized at the beginning that if you don't have steady, stable income with 6-9 months in reserves, you need to get that taken care of first. I'm 55 and I am just now learning this stuff and honestly, I'm pissed off at myself for not getting a handle on this 20-30 years ago.

@justingarcia6328 Жыл бұрын

You are the goat

@danross4953 Жыл бұрын

@@justingarcia6328#MVP

@ML-ks2lj 10 ай бұрын

Key take aways, be structured before you start the structure.

@ramosusarmy 3 ай бұрын

My brother. You don't even know the love and tools you have given me and my Familia. Many blessings to you and your Family. 🇵🇷

@randomuserame Жыл бұрын

When they say "you will own nothing" This is what they DON'T want you to know. They want you to _actually_ have nothing, but rent and rely on subscriptions. Meanwhile THEY "own nothing" so that if you sue them you get maybe a pad of sticky notes and a toothbrush, while they area beneficiaries of a trust which itself owns all the stuff the really care about (house, car, even ownership/stock in companies)

@the_expidition427 11 ай бұрын

It is always about the money

@alexmendez3217 11 ай бұрын

Factz

@okipo3443 11 ай бұрын

They want this to easier control people,think about it

@theedge5584 11 ай бұрын

MOST PEOPLE THINK THEY OWN THINGS NOW BUT..........ONLY IF YOUR DEED TO UR PROPERTY HAS ZERO ERRORS AND FILLED OUT CORRECTLY NAMD HAVE THE MANUFACTURER TITLE TO UR CAR....IF U HAVE CERTIFICATE OF TITLE THE STATE OWNS THEM N YOU PAY TAXES IN IT......CHECK OUT DAVID STRAIGHT ASAP

@kerrye83 9 ай бұрын

So what's the problem?

@jusnaturale 10 ай бұрын

Article I Section 10 Clause 1: No State shall pass any law impairing the Obligation of Contracts.

@Jennyk448 11 ай бұрын

Law Depot has a basic Revocable living Trust for $39. You can add other element and pay $99. With real estate, you will never "own" it unless you pay cash. if you take out a loan, you are a Tenant and the security (Mortgage) will be sold thousands of times. Reclaim it from the Indenture Trust.

@alchemicalsoul 3 ай бұрын

Until all are free, this is the way.

@mareonaranch3565 3 ай бұрын

Or someone squats in your house

@Wokemelanaire 3 ай бұрын

You’ll never own anything without the allodial title. Until you have that… the government owns it

@chucktouchton398 2 ай бұрын

You can't pay cash and own land, either... You have to get the Allodial title via the land patent. That's the only way to ever own land.

@jeanvanderwesthuizen4545 5 ай бұрын

You are the first person that talks sense, most people jumps straight into establishing a Trust and Holding Company, spending, not investing, money. Like we say in South Africa, "gat oor kop" approach. Andre.

@LofiGiant 10 ай бұрын

Immediately subscribed. Probably the best video on youtube I've ever seen. few explain this phased approach so well. . Genius

@letsgobrandon5334 6 ай бұрын

I've been stuck in analysis paralysis over my blueprint forward through the trust process and this video just gave me some clarity. Thanks!

@KhalilCombs 11 ай бұрын

Thank you for this video. I sent it to my mom who has been considering to set up a trust for a while now.

@nombusodlamini7298 10 ай бұрын

Grateful for this video and this is my second time watching it! Phase 1 confirms my sentiments that you need to have various forms of income operating and stable annually for a number of years to consider buying and tying them up to assets. The second one is that this speaks into basic book keeping and financial accounting to see where you are financially to think about your next move.

@hectorvargas9336 11 ай бұрын

Bravo young man. Very down to the point. Thank You.

@strohmeyerlawpllc Жыл бұрын

The revocable living trust can help centralize and manage assets, but generally won't provide any asset protection or creditor protection benefits. Why? Because the trust is revocable, the person creating the trust generally can access all of the assets in the trust, and if the person creating the trust can access the assets, then their creditors can too.

@timekaschannel Жыл бұрын

Makes sense. So, I guess this is why creating a irrevocable trust is recommended.

@strohmeyerlawpllc Жыл бұрын

@@timekaschannel It generally won't change anything. If you put assets in trust for yourself, whether revocable or irrevocable, you won't get much, if any, asset protection. But an irrevocable trust can trigger some significant (if unintended) estate and gift tax consequences.

@ryderscottmc92 Жыл бұрын

That’s why the only trust structure that is the most advantageous and checks Every box is a irrevocable complex discretionary non-grantor spendthrift trust. That is the only structure on earth that checks every box and that gives you complete control now when you die, and be on the grave.

@strohmeyerlawpllc Жыл бұрын

@@ryderscottmc92 There is no one-size fits all trust. An irrevocable trust will likely trigger estate and gift tax consequences. And when it comes to asset protection, if you set up the trust for your own benefit, you are unlikely to get any protection from a self-settled trust. Here in Texas, a self-settled trust has zero protection from creditors' claims, even if it's irrevocable, discretionary, or spendthrift.

@Wavyysav Жыл бұрын

So what is the benefits of putting assets in a llc compared to a trust?

@TravisGarnett Жыл бұрын

Thank-you so much for this information, Mr. Dennis!

@bigbuttsbbq4834 10 ай бұрын

Wow... I appreciate how fluid and understandable this video is. I know nothing about trusts, nor do I believe I am even close to asset accumulation in a way that would justify a trust but if I was, I feel this video would be exactly the kind of starting point I would be hoping to find. Cheers to you Mr. Karlton for putting in the time and thoughtfulness to make this video broad, understandable to the layman, and concise. I will keep your name in mind.

@perezg04 Жыл бұрын

It's videos like this that make it worthwhile to follow you. I appreciate what you do. 💎💎💎

@relatablerealness 7 ай бұрын

Watching this AGAIN then have to figure out owning my first rental property! Thank you for the valuable information! ❤

@Nrk4u 11 ай бұрын

This is the second time I’m watching this video, and definitely 💯 not the last. Thanks

@katherynstewart6021 Жыл бұрын

Thanks for this valuable information 🙏🏽🙏🏽🙏🏽

@Pea557 9 ай бұрын

Thank you Karlton…. Well needed information…… I now see that I am no where near getting a Trust. Thank you for the knowledge ❤

@Stinkysock11 Жыл бұрын

Another great video Karlton!!

@MitchMuller 5 ай бұрын

This video is PURE GOLD brother! Thank you for this solid advice!

@mr.vip317 6 ай бұрын

Karlton, you have really simplified the strategies of asset protection and allocation constructs.

@SCRealtyInsight 9 ай бұрын

Great information! Thanks for the breakdown 👌🏾

@IrvOfficial Жыл бұрын

Stellar Breakdown Karlton

@FinanciallySavvyParent 11 ай бұрын

This video is great. This is so important to remember.

@blaqsteel9 Жыл бұрын

Thank you Mr Dennis! 💯👍🏾👍🏾 Stay blessed.🙏🏾

@JohnJames-mg6fc Жыл бұрын

Excellent video. Thank you sir

@pvitale Жыл бұрын

I have a financial Planning practice in NY and NJ for over 25 years and agree. Great job...

@TCB2023. 11 ай бұрын

Would you do anything different

@rampantcolt 11 ай бұрын

I will be giving you a call to discuss my financials sir.

@AssistDez 11 ай бұрын

i need the replay for the training!!!!!!

@Kajivai525 Жыл бұрын

Thank you Karlton ❤

@antoniobrasse7157 11 ай бұрын

Love the tag line "tax alchemist". I've also seen "tax technician".

@user-nv4xm9lt7j 10 ай бұрын

The big thing used to be FLP (family limited partnerships) and charitable remainder trusts, as of 30 years ago. How about now and an update on this structures, especially if one is single.

@shaun1258 Жыл бұрын

Wow great info. Make the money then worry about it, get busy!

@Coop_63 7 ай бұрын

Just the information and video I was looking for, thank you! Subbed 👍

@RDT9 3 ай бұрын

Thank you so kindly for the simplicity of it all. Priceless!!!....

@philipbrathwaite972 Жыл бұрын

The best I’ve heard so far!

@happybear11 10 ай бұрын

Thank you for the insights!

@EngineerDJ_Julius 11 ай бұрын

great work Karlton!

@TheWzeOwl 4 ай бұрын

Good Job Karlton Now Expand Your Operations My Friend I Started My LLC In January And Opened My Corporate Bank Account WZEOWL Investments LLC Today At City Bank And Trust Usings Your Business Structure Thank You Karlton Now I Have A Gift For You Your Retirement.😮

@authenticteecee 6 ай бұрын

I love the honesty in this video

@garysuarez9614 11 ай бұрын

Props. I was putting the cart before the horse.

@ramseyVScomics Жыл бұрын

Thank you! This was really helpful. I have multiple businesses generating money but I’m barely about to begin my asset accumulation phase.

@brianbordenkircher52 Жыл бұрын

Great Info! Thank You!

@ATCM1 Жыл бұрын

Bro, you brought the sauce 👊🏿

@tommytaylor1452 Жыл бұрын

Great video. Thank you sir.

@zer-kz8mb Жыл бұрын

Appreciate you! Just joined up for the VIP.

@RM-zx9do 10 ай бұрын

great video, phenomenal presentation

@loddidoddie Жыл бұрын

Karlton. Thank you for the great information as always🎉 Does this include international properties? Also, would it include pre-construction properties?

@rodwellkennedy4703 Жыл бұрын

@karikasumi888 Жыл бұрын

Great advice ☺️

@saltychristo3424 11 ай бұрын

Take your money offshore and put it in a jurisdiction that does not recognize judgements from other countries and makes it very difficult to challenge in that country's courts. This would include a scenario where a US judge interprets a prenup in a manner not beneficial to you , despite whatever comfort you lawyer provided you when you paid him or her to negotiate that prenup.

@who_is_dis 10 ай бұрын

Or just don't get married.

@HelenaBoutel 8 ай бұрын

@@who_is_disand what happens to your money if youre never married. What is your plan with asset accumulation

@Naboost 8 ай бұрын

Check out Nevis

@HoneyBunches100 4 ай бұрын

@@who_is_disChildren deserve to have a father who lives in the home, and see daily love shown to their mother as a wife and a father who actively supports their upbringing. Only poor men who fear the responsibility of a family think the way you do. 💯

@SHEAR-JASHUB 11 ай бұрын

Nailed it with income first!

@emilypodcast8149 Жыл бұрын

Super helpful!! Thanks very much for sharing, I’ll do this based on the phase approach👍🏻

@OrniciaLowe 10 ай бұрын

This is amazing! Thank you

@wealthsolutionz Жыл бұрын

Can you still take advantage of the tax benefits from rental real estate through Trusts?

@Michael-iw3ek 11 ай бұрын

I love it how all those videos talk about estate planning and protection. As if single people who don't care what happens after death but don't want to be bankrupted by a hospital judgment don't even exist.

@chrishanes1495 Жыл бұрын

I guess ill come after phase number 1. Seems solid 👌.

@iriswilson7387 Жыл бұрын

I believe that was sound information 👍🏾

@byronjones4635 Жыл бұрын

Super helpful!

@Longsleeveshirtless 6 ай бұрын

very realistic. Thanks, I found this video at a great time. Good work!!!

@majic5zero 8 ай бұрын

Karlton, great video. I just wish we'd discovered it, before setting up our current trust and estate planning. I trust our attorney, but still don't fully understand all the documents we've created and how to apply them. I hope you will be delving into more details about how trusts work and how to use them to protect and pass on what we have earned and accumulated. Thanks, again from a new subscriber. 🤙Aloha.

@thatoneguy4646 5 ай бұрын

It's like learning how cars work so when you go to a mechanic you know what questions to ask & when you are getting scammed. Have fun on your journey learning.

@cesars8137 Жыл бұрын

Thank you sir!!! Big fan!!!! Appreciate all you do. Wish you much success!!!

@NX_visionn37 Жыл бұрын

Okay so basically when you figure out how to evenly distribute asset accumulation and income accumulation across your estate 🏡 because those two are reporting across the estate the more your estate tax is reduced

@kbs7340 Жыл бұрын

Love this guy 💖

@IsaiahWG24 Жыл бұрын

🔥 like always!! Thanks sir

@fallonbrown7339 8 ай бұрын

I absolutely love your channel and information

@KROWNCHAKRA Жыл бұрын

Edits is crazy.. thanks for the gems

@lynngill1588 Жыл бұрын

So tell me this. If my ares set on the board of directors of our family trust and the trust capsizes as you called it and it begins to generate potential Estate taxes. will they still be liable for those taxes? And if not is it feasable to just expand the trust's board of directors to cover the new members of the trust from those Estate taxes?

@INDENTUREDTRADER Жыл бұрын

Good stuff chief, I like it.

@nikolaysedletskiy5076 28 күн бұрын

Thank you so much Karlton, your channel is THE GEM! Hope one day be able to service you back my brother. Best wishes to you and your loved ones.

@naomiletang4119 11 ай бұрын

Awesome information!

@Blackktyptonite Жыл бұрын

Loving your content. You always drop the gems 💎

@jollymon6672 Жыл бұрын

How would you address the new changes to Trusts in March 2023 that affects the taxability?

@organizer14 10 ай бұрын

For real estate property do you have to change the ownership on the deed of the real estate condo or house or property?

@karyjimenez2472 11 ай бұрын

what's better asset protection trust vs holding ?

@evensfrancois1 7 ай бұрын

WOw. Thanks. Direct to the point. Must take care of Phase 1.......I subscribed...

@charlesmusula8884 Ай бұрын

Thank you for sharing your professional wisdom, kudos!

@starseedchildren 5 ай бұрын

Great advice, good flow into the facts Definitely confirmation for me. Was waiting to hear mention of the Executor and the extra costs, then finally a possible takeover of the Trust after the Executor borrows from the Estate.. leaving gefty court costs, and the Beneficiaries with no Trust or Estate left at all from the Living Will. 😮

@barbarianatgate2000 Жыл бұрын

Keep in mind that in March of this year, the IRS changed the rules considerably regarding irrevocable trusts. To a large degree, placing your assets in a trust with your children no longer protects from taxes upon you death the way it used to.

@randycarstens1100 Жыл бұрын

True however this is an IRS rules interpretation. Considerably less binding then tax law legislation. It will surely be challenged.

@barbarianatgate2000 Жыл бұрын

@randycarstens1100 Agreed, but for now it's something that at least needs to be considered. We know how much they love stupid legislating on both sides. I trust Washington about as much as I trust a wet fart. And for the same reason.

@Plusfire2134 11 ай бұрын

The trust is still under contract law, so any new laws made by the IRS doesn't hold weight.

@bruceolga3644 11 ай бұрын

Ewe cliché clone huemans programmed backwards are fixed ribosome waiting for corrupted mRNA data programming to copy paste transmit the data given...👁️

@dquansah678 11 ай бұрын

Karlton you are on the money bro. Good looks

@oscarc5043 11 ай бұрын

Hi Karlton, Didn't they recently change the trust code laws?

@alanonsr3942 11 ай бұрын

How does this work with the new IRS laws that nullify trusts for inheritance purposes?

@smokindatshit8268 Жыл бұрын

Any advice on setting up trusts prior to protect lottery winnings??

@AnaLivingLight 7 ай бұрын

Hi, We recently set up an RLT but what do I need to do to make the Trust own the 2 LLCs that each have a rental property ( they were created before we had the Trust set up. The attorney said to change the operating agreement in the LLCs to say upon death, etc.. it would be owned by the Trust, but how do I make it own the LLCs now, What needs to happen? Thank you.

@classiql 2 ай бұрын

*This has been very eye opening. Thanks fam 💪🏽*

@BlackWeldgod Жыл бұрын

Great podcast they just grew up live on KZfaq

@Waycool247 3 ай бұрын

Yes ... brother you're providing a quite noble service. I love it. Thank You

@element720 Жыл бұрын

Simplify! Word!

@victorramirez2891 Жыл бұрын

I was told that if my businesses are owned my a trust, my trust doesn’t have to pay taxes. How does that work?

@adunnio Жыл бұрын

Thank you for breaking it down for us beginners. I was torn between the two but you answered my questions-simple. To those who feel like this is too basic feel free to find another channel & keep your rudeness to yourself.

@pumsha 9 ай бұрын

Thank you for this information,

@002vng 11 ай бұрын

can you get paid to a trust, llc or any holding company as an employee ?

@imarri01 Жыл бұрын

I need the Canadian version of this....

@NextLevel401 Жыл бұрын

I need help with a quitclaim in Florida, bought rental property before LLC and. Ow need to switch. Still have mortgage. Any advice on Lawyers?

@jeromelittle7075 Жыл бұрын

Thank you

@SeeBeyond_870 3 ай бұрын

I hope you can help me understand this I've been curious about trusts.

@happygilmore1844 Жыл бұрын

Karlton karlton karlton...you are The MAN

@lizabethhaberer2677 2 ай бұрын

Ok I do not have the asset of at least 1 million you’re talking about, what little I have I want to protect. Can I put them in a trust and how can I do a trust myself without having to pay tons of money in legal fees?