Personal Residence Asset Protection

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Personal Residence Asset Protection

Рет қаралды 18,965

Toby Mathis Esq | Tax Planning & Asset Protection

8 жыл бұрын

Where exactly should you place your personal residence for asset protection?
These insider tips and more are covered by Clint Coons, Published Author and Co-founder of AndersonAdvisors.com. Here's the steps you should take to structure your personal residence for asset protection.
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. of the information contained herein without seeking professional legal advice.

Пікірлер: 20

@goosecouple 4 жыл бұрын

This time you really teach with your heart. I can feel it. You are focused, calm, take time to draw and explain.

@tsnow5445 Жыл бұрын

Is it possible to purchase a property directly into a disregarded WY LLC of another state? (Not FL or CA)

@DPIII1 6 жыл бұрын

Thank you for the video

@neil5611 5 жыл бұрын

Phenomenal video once again.

@TobyMathis 5 жыл бұрын

Hi Enel Dulcio, I appreciate you taking time to comment and am glad you liked the video and found the content useful. Feel free to subscribe, if you haven’t yet, because we’re releasing helpful videos a couple of times a week.

@amazonlily0 2 жыл бұрын

For personal residence paid off, what would be the best strategy, use WY LLC to create Heloc? But land trust would not be needed , right?

@roytownsend9833 6 ай бұрын

How long is the nominee in Wyoming operative? I thought after one year the organizer of the Wyoming LLC shows up on the paperwork. Trying hard to get this right

@TobyMathis 6 ай бұрын

Great question, in order to assist you further, I highly recommend you request a free 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. Visit: aba.link/rac

@johnb9710 5 жыл бұрын

Hello, I am married and planning to purchase my Personal Residence in California under single member LLC. What about the 121 exemption if I purchase it under single member LLC?

@TobyMathis 5 жыл бұрын

John, thank you for your question. If the LLC is disregarded for tax purposes, then the IRS treats it as though you own it personally and you are allowed the 121 exclusion. Here is the rule because most accounts manage to screw this one up: 26 CFR 1.121-1(ii)Certain single owner entities. If a residence is owned by an eligible entity (within the meaning of § 301.7701-3(a) of this chapter) that has a single owner and is disregarded for federal tax purposes as an entity separate from its owner under § 301.7701-3 of this chapter, the owner will be treated as owning the residence for purposes of satisfying the 2-year ownership requirement of section 121, and the sale or exchange by the entity will be treated as if made by the owner.

@mylifeexperiencebystephani6989 3 жыл бұрын

clint can i put the irrevocable trust in the Land trust and then NEVADA LLC.

@jo69817 4 жыл бұрын

If I wanted to "house hack" but not have to live on the property for the first year and use a fha loan with 3.5%...could I buy the loan in my name, deed the loan to the llc...and then avoid having to live on the property for the first year? Due to the fact the llc now owns the house and the FHA loan. I might be very wrong but that's why I'm asking lol

@mylifeexperiencebystephani6989 3 жыл бұрын

can i just use QPRT to protect my house from creditors and judgement.

@Pln0710 3 жыл бұрын

Thank you

@tomtillman 6 жыл бұрын

what about the 121 exemption if you put it in an LLC

@keysncoffee7733 3 жыл бұрын

Does California have the unlimited homestead protection?

@AlonzoLivin 7 жыл бұрын

"Your only secured by the amount of money you loan" just after 8:00min Are you saying it's better to have the Line of Credit covering the total value of the house? Why would someone only get a $10,000 line of credit on their house if the house is worth more?

@goosecouple 4 жыл бұрын

Because 10k is enough to do the trick.

@tsnow5445 Жыл бұрын

@@goosecouple How is 10K enough to do the trick if you have $500K of equity?

@goosecouple Жыл бұрын

@@tsnow5445 It's a trick.