How to Set Up a Trust Fund in 2023 [Step-by-Step]

[@jathonwilliams9365]

I would like to see a diagram that shows The steps of how Trust relates to a Holding company and how the holding company relates to LLC's that control the Assets.

[@savoirfaire312]

Me too!

[@rudolfcanvey799]

Amen

[@mstinamarie702]

Me too

[@Massivedrawer15]

Me too

[@EdomiteSlayer666]

Talk to cpa lol

[@chiefso4217]

I’m 23 years old and I came across this video, I appreciate this content. It was very informative.

[@woahtherr5371]

Definitely making my kids watch 300 lyfe accounting videos before they inherit my $47 trust fund

[@auntyb4130]

U mean 47 million dollars trust fund😂😂😂😂......I pray u get this money if not already in ur possession😂😂

[@jazzjones00]

Thank you for sharing this info! I would very much appreciate a video outlining the differences between a Will and a Living Trust. Thanks again!

[@knicw713]

More please.!...trust funds vs will, revocable vs irrevocable, foreign vs local

[@LYFEAccounting]

Ohhhh great topic suggestions. Will talk to the team about adding them.

[@jmconsultingfirm]

all this sounds great, but before doing all of this you mention revocable many times, so what is the difference between revocable and irrevocable? non of this makes sense until we know the answer to this question?

[@ralanawhitfield7478]

Make a video about wills verse trust funds

[@LYFEAccounting]

Thanks for sharing, duly noted!

[@kelechiajayi3049]

☝🏾☝🏾This!

[@daddyomountain2840]

A person receiving anything from a will can be taxed for the things they inherit.

[@Empower3d]

Yes please make a video of differentiating wills from trusts. Also is a trust an account? How do you create a living trust? Can you use a trust to buy items or property through your trust? Would it effect your taxes?

[@LYFEAccounting]

There are no real tax implications of a trust and you can (and probably should) use it to buy property or other assets. A trust is just a legally binding document.

[@triciaeggleston2694]

What’s the benefit of getting a EIN form 98 for a Trust?

[@kymlamay9186]

Thanks so much for very informative information about the Trust Fund. Yes, we’d like to educate more about between the Will vs The Trust fund. Thank you. 👍

[@tuwannarico]

Will has to go to probate court!!

[@maneiloveyall3672]

Pay self thru a trust account like Warren Buffett

[@joyehar]

Thanks so much for straight forward presentation but can you all explain the steps and process to move assets into the Trust? for example bank accounts, real estate and retirement funds. Is it as simple as adding the Trust as the beneficiary of the bank and retirement accounts? Please explain the process for real estate with a mortgage. Thanks! you are the best!

[@karenfashaw8926]

YOU ARE SO VERY EDUCATIONAL AND KNOWLEDGEABLE

[@justrollintruckin9111]

Thanks for explaining what is a trash can you make a video showing step-by-step on how to set up a trust where to go who to contact etc. etc.

[@AndrOMOrph]

I’m 24, learning about trusts, trust funds, llc’s, ein’s, c-corps, and so on, but I’m still not sure what the best way to invest is. I’m not sure what I should do first, can anyone enlighten me? I have no mentors, no parents, no siblings, no kids, and most importantly, little bills, but I want to provide for my nieces and nephews and end my families streak of poverty, But failure would be devastating. I’m afraid of starting a family without financial security.

[@karlsmith2451]

You're thinking right bruh. Save as much as you can. You can invest small at first.

[@frotercannon2740]

Don’t save, interest rates are crap right now. High risk high reward is the only way.

[@SpartanOfFinance]

Great Video. We had a will for years and recently created a Trust since we have Rental Property Out of State so we wish to avoid Probate.

[@LYFEAccounting]

That is awesome! Thanks for sharing

[@LoveConquerz]

Did u go to a lawyer or did u do it yourself

[@SpartanOfFinance]

@@LoveConquerz the company I work for had a legal benefit through ARAG so we used one of their lawyers to draft it up. It was a multiple step process as they asked us what we were trying to accomplish and I asked for some changes added. In some cases trusts through these types of legal services can be basic but the lawyer we worked with was very helpful and accommodating.

[@positivelycincere]

Thank you so much for the info! Btw, I like the way you emphasized the words “TRUST FUND” every time you said it lol

[@BenjaminTVogt]

Agree with the comments on a video comparing Trust Funds and Wills. Great content as always!

[@LYFEAccounting]

Thanks, Benjamin! I am getting close to adding "Trusts vs Wills" to the video queue, but we'll see...

[@8cardrive]

Thank you for making this video with such a wealth of information🙏

[@dbdouglas]

I totally need to explore/learn about trusts' & wills. Definitely need the piece of mind knowing what'll happen with my things after I pass away! Love LYFE Accounting on KZbin!

[@LYFEAccounting]

Exactly, planning is key. Thanks for your support!

[@pointblank1978]

I e watched several videos on this and you are the first to give understanding of how this works. Please send me the video about will and trusts.

[@terrycowans7130]

Very interesting information because I didn’t have no idea. Thanks for the information. Keep up the good work as a matter fact I need one.

[@moeshelton5872]

Great video! I would love to see one on trust vs will.

[@efrainanaya5671]

Please make the video of the difference of will and trust funds

[@LYFEAccounting]

Thanks for chiming in on this, will consider adding it to the queue if more comments come in!

[@chawanneburns9100]

I can help secure fundings.....

[@laquelljentertainment2135]

That was an amazing and informative video my brother!

[@AlbertoPerez-tm4tj]

Will vs Trust. That's a great idea. I click like on any of your videos before watching it because I am already sure of the quality of this channel. Each of you are special. I am impressed how concise and clear are the videos. Thank you very much. Alberto.

[@LYFEAccounting]

That means so much, thank you, Alberto!

[@dman10000000]

Hello, Can you use an assignment to transfer real estate, brokerage accounts and LLCs to your irrevocable trust without changing the deed at the courthouse?

[@taneshiajefferson5096]

Where are you from Derrick?

[@dman10000000]

@@taneshiajefferson5096 , South Carolina

[@svontesmith6932]

thanks, your video was helpful!

[@troydunbar8566]

Yes, definitely make a video comparing a will versus a trust fund.

[@LYFEAccounting]

Coming soon!

[@rustifoxxy]

I would love for you to make comparison video of trust fund vs a will. This is great educated info ppl really don't know these are anyone's options

[@samuelmngomezulu9555]

Please do, you the best. Actually all of you guys are outstanding 🥰

[@LYFEAccounting]

Wow, thank you so much. Means the world to hear that, 💯

[@donitaphilpot8537]

Yes, I would like to know the difference between a trust and a will.

[@shanaejohnson7921]

When should an estate be created? For an example: as soon as a business is started, when the business becomes profitable, what is the minimum value 10k, 25k, etc. Or can you wait until things are established and profitable to obtain an estate and transfer everything over to the estate?

[@paulkohanski9545]

Very clear explanation. Thank you.

[@rodneymitchell280]

Thanks for a step by step overview of what’s involved with creating a trust but by no means was this a step by step creating a trust fund

[@arianecoler2128]

Thank you!!! This answered all my questions.

[@tlwmillionaire]

Yes make an in-depth video on a trust fund and will. Great video by the way.

[@lovethegamelovethegrind9874]

Did u ever make the other video? I’m about to search now but i still had to like comment and subscribe first

[@jonfxmasterminds]

Yes, that was my next question, What's the difference between a trust and a will?

[@rrivers6491]

Is a revocable trust and pour over trust the same thing?

[@stevenmeek9756]

Thank you ,good information/straight to the point.

[@LYFEAccounting]

Thanks!

[@claudiamolina.a]

Thank you, this was very helpful!

[@elevatingempoweringendeavo9487]

I always appreciate the insight. 👍🏾🤞🏽 Thank you so much for caring and sharing🙏🏽💯🎉😍

[@sharnethterry6530]

So where would you go to get a trust fund? Are there like certain places that you can go to shop around? Or how does it work?

[@ItsMeDeeDee]

How much money is needed to open and start a trust fund?

[@imeldasantana1652]

Great information, thank you for sharing 👏👏.

[@sabrinavalbrun]

Very informative 🙏🏾👑 Please Make one on trust VS a will

[@zeropain9319]

nice, thanks giving an overview of "how" to do it.

[@michaelmonroe2002]

If I wanted a huge drawn out story about WHY I damn sure would not have clicked a HOW to video. If someone didn't already know why they should use a trust...they probably would not have clicked a video on how to. KZbinrs never want to get to the point.

[@tribelfamilytv1374]

This was very informative.. Thank you☺️👌

[@imantonio]

At 10:10 you misspelled argument bro. Great video.

[@adriantaraba3205]

liked and subscribed. thank you for the education

[@ahouston68]

Great info. Thank you.

[@winstonsimon9092]

If you have not already done so, please do the will vs. trust fund video.

[@Killagear5000]

Isn't a trust fund better because your beneficiaries won't have to pay taxes on the money distributed to them?

[@isaiahpedraza66]

I believe so, but I too would like to verify this.

[@breew2968]

After the conditions are met by the beneficiary, are the funds in trust funds taxable? Do you need more than one trust fund for multiple beneficiaries? Would like to see the video on Wills vs Trust funds! And I TRUST that you WILL do another corny joke 😆😁

[@LYFEAccounting]

Hey Bree, so it would depend on if there were any realized gains on the assets within the trust. For example, if there was $100,000 cash in a trust fund and that money was already taxed, then there would be no need for the beneficiary to pay taxes. But if there were $100,000 of stocks in the trust fund and that appreciated to $120,000 before it was distributed then you would need to pay taxes on the $20,000 amount. Does that make sense? I may do a video on this too. And I love that joke hah, I might use it in the next video! .

[@breew2968]

@@LYFEAccounting that makes sense! Thanks!

[@shonniepfit4833]

😂😂 the opening statement

[@aprylharris1365]

Yes. Pls do wills vs trust

[@LYFEAccounting]

Noted, thanks for sharing your opinion

[@ItsMeDeeDee]

Yes please post video trust vs will.

[@robincheramie230]

I have some property (house and barn with a rental apartment upstairs) I purchase to turn into businesses. Do I have to make a legal transfer as in when I purchased the property? Or is it just listing it in the Trust papers?

[@doloresmorales6209]

Thank you.

[@sabrinataylor7282]

Which would benefit my family most a trust / will?

[@charlessmith3846]

Hi,I also would like to see a diagram,the steps for setting up a trust and its relationship to a holding company……Thanks in advance……..

[@nineether8334]

Great info, please make the more in depth video on Trust

[@meledjeentreprise9438]

Hi have a question , if you don't have a lot of money what the minimum you could start with

[@BCassandra1]

Thank you for sharing 😊

[@aishmakennedy3987]

Please make a difference between a will or trust fund

[@scj984]

Can we include items that are currently still being leased or financed (vehicle that isn't paid off or properties)?

[@duskyrose23]

Thank you!

[@lxsmith2]

good information and good presentation

[@nicholieazares358]

Really nice explanations..

[@thaholisticdiva]

Great information

[@ReadEphesians612]

Excellent...thank you!

[@joshuatrevino0823]

Thank you for this video

[@workfromhome598]

Awesome video! Thank you! ❤

[@WzupMydudeNdudettes]

Question:What if you have and S-Crop

[@straightshooterz]

How much would I be looking to pay to initiate the trust and notary?

[@cfjunkies]

Haha love the intro!

[@Bigdee967]

Yes

[@shiannecouch4844]

How can I find out if a trust fund has been established after a loved one has passed? Where to begin a search?

[@lifewithtashabae4846]

What happens if we use an institution as the trustee and it goes oit of business of something what does the beneficiary do?

[@cadenitadelnazareno6717]

Please let me know how to create a trust fund for business purposes

[@artondekz]

Bro, please don’t start another video with “great Ben Franklin” thanks for the info though ✊🏽

[@rawnuncutent5551]

Pretty good opening joke 😂.

[@bonusking1224]

"Deaf" and taxes

[@VictoriaNakaraKizer]

Yes, make the verses video please.

[@downhomegirl5]

Well you did not show us how to set a trust fund. You talked about setting up one, a couple reasons why & suggested a couple websites or a expensive attorney.

[@thegreatone1285]

Nothing was great about Benjamin Franklin 😕

[@devintramez1997]

Or any of our leaders it’s about the greater good

[@fea5rrlessfea5rrless42]

You will know beyond, your thoughts

[@stephensmith60]

At what age should someone set-up a Trust fund? A soon as he's married and has a kid?

[@robincheramie230]

Does adding My Rental Property and each one of my other businesses (that are all on the same property) prevent them from paying taxes?

[@LYFEAccounting]

A trust fund is a great way to transfer your assets like your rental property without triggering a taxable event

[@fea5rrlessfea5rrless42]

yes dance its soo fun!!

[@Jboogie19]

If I had it every time a rapper say they bust guns, then I would have a whole mill for my sons in trust funds. Long live Doom.

[@foreigndiva7572]

Where can I go to start a trust fund??

[@Iamcollinwhittaker]

A revocable living trust is the worst thing you can tell your audience to have. The unincorporated business trust is the crème de la crème of all trusts near has been hundreds of caselaw on unincorporated business organizations.

[@TIFFNOTES]

Do you know how to setup a unincorporated business trust?

[@StudioCafe]

Excellent....

[@DavieDaniels-dj4sg]

Is it like a WILL

[@jamesbarr2657]

May I get a consultation? How do I reach out to u?

[@bruq9559]

What is the template websites

[@marconavacruz1704]

should I still do this at this point of my life? I am currently 18 years old with no assets but I do have businesses.

[@LYFEAccounting]

Your business is an asset, but you likely don't need to yet

[@hermosura2786]

I Still don’t know how to set up Make a trust fund