What Happens To The Trust When The Grantor Dies?

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What Happens To The Trust When The Grantor Dies? - Estate Planning Series Part 3

Рет қаралды 33,545

Toby Mathis Esq | Tax Planning & Asset Protection

Күн бұрын

Пікірлер: 67

@TobyMathis 2 жыл бұрын

Want answers to your questions about this video? Schedule a complimentary consultation with our experts today! aba.link/689e5b

@nancyh3362 Жыл бұрын

Excellent 3 part video! Love the suitcase analogy!! Thank you so much for doing this!

@TobyMathis Жыл бұрын

Glad you enjoyed it!

@nancyh3362 Жыл бұрын

@@TobyMathis also love the idea of putting mission trips in the trust!

@sophiesmith5922 Жыл бұрын

Thanks, Toby! Its true that traditionally young people are discouraged from proper long term planning. Waiting until you are on the verge of entering a nursing home is WAAAY too late to plan. Its like waiting to be rescued in the middle of a hurricane with your roof blown off and your home flooded. Being prepared isnt only about stock piling batteries and food. You need to think about a very long future, as well.

@danielamezquita863 2 жыл бұрын

Thanks Toby M - for your impressive 3 series presentation, looking forward for a follow up consultation

@jamaicanjoe1133 Жыл бұрын

i watched all three part, i'm knowledgeable now. all i need to do is get wealthy :)

@yagga8885 Жыл бұрын

🇯🇲🤩

@CarlosGonzalez-ve1ft Жыл бұрын

Very important knowledge , very easy to understand …..I am old unfortunately I did not look for this information when I was 22 years old l caa AD me to this country ….I want to leave a legacy not only for my descendants … also for other immigrants that do not have this valuable presentation in other lenguages.. Thank you

@thabisomaifadi5575 4 ай бұрын

Thank you Tobie,wish i had this knowledge at my 20th,May God bless you!

@jackiemansfield8325 2 ай бұрын

Smart Toby will never be an enabler

@samuelscragg7052 4 ай бұрын

Thank you for your trust information. The three part series was very beneficial to me and how to set up trust.

@TobyMathis 4 ай бұрын

Glad it was helpful!

@CapitalG222 Жыл бұрын

Thank you for all 3 parts!!!!!

@TobyMathis Жыл бұрын

Our pleasure! Thank you for watching our content, we hope you consider subscribing to the channel!

@barbaraclark9423 3 ай бұрын

Whooee, I just started this process and learned a lot! Now to absorb it all 😂

@TobyMathis 3 ай бұрын

That's awesome to hear! Keep up the learning momentum!

@Bull.2024 4 күн бұрын

Hi Toby.... awesome content indeed! I have 3 questions.... for people living abroad, how can they apply an Asset Protection Plan + Estate Planning if they own companies and real estate in different countries? How can they create a Legacy for the future generation? Is this something that your firm can advice? Thanks!!

@ehyowarrenzy8145 2 жыл бұрын

Thanks Toby!

@elvianustshabo4953 Жыл бұрын

Thanks TM, I enjoy watching your video's, financial education is very much important in our daily business life and securing the future of our loved ones.

@sohaibsiddique7988 2 жыл бұрын

outstanding series

@lautburns4829 2 жыл бұрын

Loved that presentation. Thanks. Now I’m thinking.

@bethel2143 2 жыл бұрын

Thanks Toby. Very, very, very good stuff!!! I have been an Anderson client for a little over a year. Very satisfied with y'all and have recommended Anderson a lot.

@TobyMathis 2 жыл бұрын

Much appreciated! We are glad to hear that you are a satisfied client!

@dcmiracles17 Жыл бұрын

If the grantor of a living trust dies, are there any required delays before the trustee or beneficiary can administer that trust. Any time or waiting period before the beneficiary can access their inheritance or sell the property inherited? Any legal administrative requirements the trustee need to know? Thank you very much for your excellent educational lectures!

@TobyMathis Жыл бұрын

Thank you so much for your question! We highly recommend you join us at our next Free Tax & Asset Protection Workshop Livestream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/taptoby

@alweiss822 10 ай бұрын

Great presentation .. thank you so much

@danieldezauche8223 2 жыл бұрын

Absolutely tremendous presentation.

@followme8238 6 ай бұрын

After a generation or two, the trust company and the investors ‘managing’ the money make far more than the beneficiaries do. Family trees spread out and children have children and grandchildren and….the trustee holds on the the principal but the income is spread out over so many people it’s very little real cash.

@eyobongefretuei8934 Жыл бұрын

Thank you indeed, Esq. I’m glad I tuned in to your KZfaq videos. I’m quite interested in your channel and highly educative presentation. At the moment, I will try and seek out Truestee Companies to immediately begin with my Living Trust Program.

@TobyMathis Жыл бұрын

Thanks for watching! Glad it was helpful!

@tomj528 2 жыл бұрын

Excellent series! Do the beneficiaries of a living trust pay income taxes on distributions?

@ethelperry4529 2 жыл бұрын

Thank You! : )

@TobyMathis 2 жыл бұрын

Thank you for watching!

@cts-video 2 жыл бұрын

Man! I watched your 3 part video and would love to speak with you on asset protection

@TobyMathis 2 жыл бұрын

Feel free to ask any questions you have here 😄

@nidasalvador9705 Жыл бұрын

good advice thank u

@ligayaatencio2902 5 ай бұрын

Thanks Tony for your presentation of Estate Planning. We have already a living trust made, but we want to put our primary residence to our trust in the context of asset protection, how do we do it. Please we need your advice. We live in NYC. Thanks Toby

@TobyMathis 5 ай бұрын

Happy to help! This is actually a pretty common misconception but a living trust does not provide asset protection or separation from you individually. That being said, the primary residence is usually best served by setting up a land trust for anonymity, as an LLC can void the benefits (state and federal) associated with a primary residence, which should definitely be owned by your living trust. Finally, to fund real estate into a trust you need to deed the property into the name of the trust, which is a service our team offers! Reach out to your senior advisor, or become a platinum client and we would be happy to help!

@mrjuno1 2 жыл бұрын

Hi Toby I’m over 72 and more than 3/4ths of my remaining assets are in IRA accounts. I guess that avoids probate but I’ve left myself with a big income tax headache. If I die I’m ok leaving my IRAs to a living trust to support my spouse, or if my spouse dies before me to support my children. But my spouse will need someone to manage the IRAs, and creditor protection for my children is an important concern when their turn comes. Can you help?

@organizer14 Жыл бұрын

What is a business trust? Can a c corporation have a grantor trust?

@matthewhowart330 Жыл бұрын

I love watching your videos very informative. I have been watching videos on cash flow banking using whole life insurance and I was wondering if you have any thoughts on this also

@Nailgunskater 8 ай бұрын

You likely covered this but does step up depreciation work in this situation with a trust. Example: 300,000 current value rental house. Depreciated Basis down to 80,000. At passing of grantor and son inheriting house, new basis is now current value, $300,000 and he may sell it federal tax free? Not sure about state taxes. 😊

@TobyMathis 8 ай бұрын

Yes - complete step up to $300,000. No recapture and heir can depreciate the asset at the stepped-up value of $300,000. Nice:-)

@Nailgunskater 8 ай бұрын

Thanks Toby

@ritamo68 Жыл бұрын

Awesome series Toby, you're my guy...are you in Vegas? I'd love to set up a consult

@TobyMathis Жыл бұрын

Here is the link to schedule a free strategy session, aba.link/tobyss. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.

@TheWaldHaven 2 жыл бұрын

I would love information like this relevant for England. Could you provide this or do you have any suggestions of where to look online for it? Thank you

@rayramirez7682 2 жыл бұрын

Who holds the trustee accountable? Who or what agent governs the instructions of a trust? I imagine some bank clerk making the decisions that Billy can't buy that Lamborghini or can go to college...

@TrueNovice 2 жыл бұрын

So a living trust is I think you said 7 to 10 thousand dollars, and then I guess there are on-going expenses by the trustee after you die. Can you set up a living trust instead of a will to transfer the property quickly without probate and not have the trust exist 365 years.

@kentaylor30 7 ай бұрын

Where does your primary residence go in the suit case?

@TobyMathis 7 ай бұрын

I appreciate your question about the primary residence in the context of asset protection. Protecting your primary residence is a crucial consideration. To provide you with detailed and personalized advice based on your specific situation, I recommend scheduling a free strategy session. Visit: aba.link/689e5b

@jasmindixon9323 Жыл бұрын

i dont i allow tayloremmet to interfere my inheritance property ,i said wait for me until i come in england

@88jl88 Жыл бұрын

Mr. Mathis, 1st of all thank you for your excellent videos, we like your recommendations, could you recommend a lawyer in Houston that's familiar with your structure. Thanks again. Jack Lee

@TobyMathis Жыл бұрын

Hi Jack, thank you for leaving your comment. You can request a FREE 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. Here is the link! aba.link/tobyss

@surendrasharma3461 2 жыл бұрын

Hello Tobi, I have a living trust, created in 2009, which owns my residence (California: market value $ 3.75 M with tax basis of $ 1 M) with me as primary beneficiary and my only daughter the secondary beneficiary. When I pass away the trust becomes irrevocable (right ?), does this trigger change in ownership (re-assessment of the house and subsequent increase in property tax under prop 19) ?

@lorirowell8003 Жыл бұрын

I am researching this too…so far from what I have read…I thinkIf your only daughter is the sole beneficiary of the house and lives in it as her primary residence then it is not reassessed…but if/ when she sells it she’ll pay capital gains tax, she cannot rent it our either. ( that was a change that prop 19 created)yes, upon death trust is irrevocable .

@surendrasharma3461 Жыл бұрын

@@lorirowell8003 Thanks Lori, This is I was expecting from what read, but needed confirmation. Can you point to some literature on it, you assessed ?

@conniecaldwell8975 Жыл бұрын

Can I hire you for my estate planning?

@TobyMathis Жыл бұрын

Hi, thank you for reaching out. I recommend scheduling a free strategy session to speak with one of our advisors, there we will answer your questions, review our services, and pricing, and create an asset protection blueprint. Please let me know if you have any further questions. Here is the link bit.ly/3JbMhRP. Or you may call to speak with an advisor at our toll-free line, 800-706-4741. Our office hours are Monday - Friday 8 am - 5 pm pacific.

@jasmindixon9323 Жыл бұрын

how can you help me my hisband sies in england taylorsemmet process my inheritance money and the bank release the money and siobhan gibson tayloremmet said need grant from the court, before send to me .,how long it will take grant approval

@johnchaguruka8120 Жыл бұрын

l just contacted your office and I would like for you to handle my fortune

@TobyMathis Жыл бұрын

Excellent, please let us know how your experience with us goes 😁

@Sexy40baby1 3 ай бұрын

If a person only has one child, one house, vehicle, retirement investment acct, checking & savings ~ is it even necessary to create a trust because the beneficiary is obviously the child on all those things? Next question is: if a person does create a trust, do they have to do a tax form each year for that trust in addition to their own personal tax form?

@TobyMathis 3 ай бұрын

Even if you only have one child, all your assets must go through Probate without a Living Trust. This takes time and costs money, both of which can be avoided by creating a Trust. Additionally, any Estate that goes through probate is subject to challenges by individuals and creditors, which could affect what and how much your child ultimately receives.

@thabisomaifadi5575 4 ай бұрын

Thank you Tobie,wish i had this knowledge at my 20th,May God bless you!

@TobyMathis 4 ай бұрын

Thank you for the support!