Excellent. Very informative. Gives me a sense of confidence going forward. I will watch this several times.
@mkweber96152 жыл бұрын
Thank you for sharing the details of how to do this. My mom's lawyer didn't tell us ANY of this, and I asked! I just didn't know what exactly to ask. So upset that we haven't got this together because of his lack of foresight. Can you refer us to a knowledgeable Elder Law Attorney in Santa Rosa? Do you have associates here?
@mikeabbene84782 жыл бұрын
Video was very helpful particularly with filling out the preliminary change of ownership report. With Proposition 19 enacted in 2021 does the scenario where you transfer ownership to the three beneficiaries from the Irrevocable Trust still work for keeping the property tax basis since the transaction is from irrevocable trust to beneficiaries and not directly from parents to children?
@simplyentertaiment5330 Жыл бұрын
Is it true I need only 2 documents: a living trust and a trust transfer deed to complete the process of making the Living Trust. Thanks
@davegirard73763 жыл бұрын
one of the best videos I have seen. would you do something fairly similar for an irrevocable trust (of course different trustees)
@jg69362 жыл бұрын
Thanks for video.
@totokots2 жыл бұрын
In your exanple you state Mary and Bob are nominated as trustees of the trust. Then you say that after Bob dies, the trust notice says that Mary retains beneficial use of the property. Does this not make her the Beneficiary? She cannot be both trustee and beneficiary as this would merge titles and collapse the trust. Am I missing something?
@BillF20081 Жыл бұрын
Thanks for the clear video showing the documents involved. Please advise the scenario as such that: if the couple bought the house (say 20 years ago) @$500K under joint tenancy, that the husband died last year when the market value was $1Mn. The wife inherited the 50% of the property and plans to sell it this year @$1.2Mn. Q1: is she subject to her 50% portion of capital gain from $250K (half of $500K of 20 years ago) to $600K (half of the original property), for $350K? Q2: is the other half of inherit property from husband tax free (half of $1Mn is $500K increase from last year to half of $1.2Mn is $600K this year only a $100K gain is free)? 🤔
@m.b.3723 жыл бұрын
Very informative. Thank you
@hasdrubalsosamarquez54303 жыл бұрын
Thanks for the info Doc 🙋🏻♂️
@ccunni38123 жыл бұрын
Very good information. thank you
@roxanamrogalski76092 жыл бұрын
Thank you from Florida !
@crystalli6900 Жыл бұрын
Great video!
@janetacoba2093 жыл бұрын
How can I remove someone name in property deed n he or she didn’t pay nothing ?
@theresagabriel76073 жыл бұрын
how can i remove a name on d deed when d person is not paying d morgage ?.
@tonchua6353 Жыл бұрын
Hi, Michael Thank you for the wonderful presentation. If you want to delete a beneficiary from the deed, do you have to revise the deed and register again the revised deed?
@irefusebeastmark47282 жыл бұрын
Michael, we live in San Francisco and want to amend our Living Trust, can we retain you for such service?
@mikeabbene84782 жыл бұрын
Was not clear on the "Preliminary Change of Ownership Report" do we leave sections 2, 3 & 4 blank if just moving home into a revocable trust?
@cathyjacobs7489 Жыл бұрын
What do you do with the title policy on my house when doing a revocable living trust?
@joepham8009 Жыл бұрын
Hello Mr Michael Young, I am married and owns a home with the title grant deed under my name only. However, we have created a revocable living trust 2004. We want to transfer the property into the trust. What is the process? Or do I first need to change the deed into community property with survivorship, then do another transfer into the trust?
@rinihaque29462 жыл бұрын
If you have some rental properties in one member Sole proprietorship LLC then do you just need to create assignment on that llc and say i am transferring 100% this llc interest into the living trust name the trust name, trustee and date and you are done? if you do this is you don’t have to take each property out of existing LLC and prepare a separate deed for each properties and record those properties individually under the trust name? or you have absolutely take all properties out of llc and re-record them under the trust ?
@yolandabernal78202 жыл бұрын
Thank for the information very helpful. My friend has her name in a living trust . When she refinanced in the year 2008 her brother slip of paper well she was signing the forms giving him the right to put his name on the deed is this possible for him to do even though the house is in the living trust what happen was her brother had his friend that sells real estate and through him they refinance the house when they refinance the house was only going toBe in her name her brother owes taxes so this is a reason he wanted to put his name on the deed so he can report it to the IRS and the IRS can pick the house pay for his taxes and she becomes homeless can this be done can he actually putting a quick deed way there is a living trust thank you for your help.
@dos14dos142 жыл бұрын
Punctuation would be helpful to get your point across!
@rickeyalyles91693 жыл бұрын
if you boyfriend an girlfriend can you transger your half interest into a living trust?
@lauravivo61443 жыл бұрын
My mother-in- law has a living trust the house deed is going to be transfer to her two daughters Will they have to pay more on the property taxes or will it stay the same
@pedroquinones4633 Жыл бұрын
Transfer power of the trust and you won’t have to pay taxes.