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 Жыл бұрын
Me too!
@rudolfcanvey799 Жыл бұрын
Amen
@mstinamarie702 Жыл бұрын
Me too
@Massivedrawer15 Жыл бұрын
Me too
@user-no4sr2jp6r Жыл бұрын
Talk to cpa lol
@chiefso4217 Жыл бұрын
I’m 23 years old and I came across this video, I appreciate this content. It was very informative.
@woahtherr53712 жыл бұрын
Definitely making my kids watch 300 lyfe accounting videos before they inherit my $47 trust fund
@auntyb41305 ай бұрын
U mean 47 million dollars trust fund😂😂😂😂......I pray u get this money if not already in ur possession😂😂
@jazzjones00 Жыл бұрын
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!
@knicw7132 жыл бұрын
More please.!...trust funds vs will, revocable vs irrevocable, foreign vs local
@LYFEAccounting2 жыл бұрын
Ohhhh great topic suggestions. Will talk to the team about adding them.
@ralanawhitfield74782 жыл бұрын
Make a video about wills verse trust funds
@LYFEAccounting2 жыл бұрын
Thanks for sharing, duly noted!
@kelechiajayi30492 жыл бұрын
☝🏾☝🏾This!
@daddyomountain28402 ай бұрын
A person receiving anything from a will can be taxed for the things they inherit.
@Empower3d2 жыл бұрын
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?
@LYFEAccounting2 жыл бұрын
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 Жыл бұрын
What’s the benefit of getting a EIN form 98 for a Trust?
@kymlamay91862 жыл бұрын
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. 👍
@tuwannarico10 ай бұрын
Will has to go to probate court!!
@maneiloveyall3672 Жыл бұрын
Pay self thru a trust account like Warren Buffett
@jmconsultingfirm Жыл бұрын
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?
@dbdouglas2 жыл бұрын
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!
@LYFEAccounting2 жыл бұрын
Exactly, planning is key. Thanks for your support!
@positivelycincere10 ай бұрын
Thank you so much for the info! Btw, I like the way you emphasized the words “TRUST FUND” every time you said it lol
@justrollintruckin9111 Жыл бұрын
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.
@SpartanOfFinance2 жыл бұрын
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.
@LYFEAccounting2 жыл бұрын
That is awesome! Thanks for sharing
@LoveConquerz Жыл бұрын
Did u go to a lawyer or did u do it yourself
@SpartanOfFinance Жыл бұрын
@@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.
@AndrOMOrph2 жыл бұрын
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.
@karlsmith24512 жыл бұрын
You're thinking right bruh. Save as much as you can. You can invest small at first.
@frotercannon2740 Жыл бұрын
Don’t save, interest rates are crap right now. High risk high reward is the only way.
@joyehar2 жыл бұрын
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 Жыл бұрын
YOU ARE SO VERY EDUCATIONAL AND KNOWLEDGEABLE
@BenjaminTVogt2 жыл бұрын
Agree with the comments on a video comparing Trust Funds and Wills. Great content as always!
@LYFEAccounting2 жыл бұрын
Thanks, Benjamin! I am getting close to adding "Trusts vs Wills" to the video queue, but we'll see...
@laquelljentertainment21352 жыл бұрын
That was an amazing and informative video my brother!
@sharnethterry65306 ай бұрын
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?
@pointblank1978 Жыл бұрын
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.
@8cardrive Жыл бұрын
Thank you for making this video with such a wealth of information🙏
@dman100000002 жыл бұрын
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 Жыл бұрын
Where are you from Derrick?
@dman10000000 Жыл бұрын
@@taneshiajefferson5096 , South Carolina
@michaelmonroe2002 Жыл бұрын
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.
@shanaejohnson7921 Жыл бұрын
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?
@shonniepfit48332 жыл бұрын
😂😂 the opening statement
@Mothafuckenzay2 жыл бұрын
This guy got jokes, he's great
@efrainanaya56712 жыл бұрын
Please make the video of the difference of will and trust funds
@LYFEAccounting2 жыл бұрын
Thanks for chiming in on this, will consider adding it to the queue if more comments come in!
@chawanneburns91002 жыл бұрын
I can help secure fundings.....
@moeshelton5872 Жыл бұрын
Great video! I would love to see one on trust vs will.
@AlbertoPerez-tm4tj2 жыл бұрын
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.
@LYFEAccounting2 жыл бұрын
That means so much, thank you, Alberto!
@donitaphilpot85372 жыл бұрын
Yes, I would like to know the difference between a trust and a will.
@terrycowans7130 Жыл бұрын
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.
@svontesmith6932 Жыл бұрын
thanks, your video was helpful!
@rustifoxxy9 ай бұрын
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
@troydunbar85662 жыл бұрын
Yes, definitely make a video comparing a will versus a trust fund.
@LYFEAccounting2 жыл бұрын
Coming soon!
@paulkohanski95452 жыл бұрын
Very clear explanation. Thank you.
@samuelmngomezulu95552 жыл бұрын
Please do, you the best. Actually all of you guys are outstanding 🥰
@LYFEAccounting2 жыл бұрын
Wow, thank you so much. Means the world to hear that, 💯
@jonfxmasterminds Жыл бұрын
Yes, that was my next question, What's the difference between a trust and a will?
@rrivers64912 жыл бұрын
Is a revocable trust and pour over trust the same thing?
@stevenmeek97562 жыл бұрын
Thank you ,good information/straight to the point.
@LYFEAccounting2 жыл бұрын
Thanks!
@rodneymitchell280 Жыл бұрын
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
@arianecoler21288 ай бұрын
Thank you!!! This answered all my questions.
@elevatingempoweringendeavo94872 жыл бұрын
I always appreciate the insight. 👍🏾🤞🏽 Thank you so much for caring and sharing🙏🏽💯🎉😍
@tlwmillionaire2 жыл бұрын
Yes make an in-depth video on a trust fund and will. Great video by the way.
@efrem567910 ай бұрын
thank you for this knowledge, blessings!!
@lovethegamelovethegrind98742 жыл бұрын
Did u ever make the other video? I’m about to search now but i still had to like comment and subscribe first
@rawnuncutent55517 ай бұрын
Pretty good opening joke 😂.
@claudiamolina.a5 ай бұрын
Thank you, this was very helpful!
@ahouston68 Жыл бұрын
Great info. Thank you.
@ItsMeDeeDee Жыл бұрын
How much money is needed to open and start a trust fund?
@imeldasantana16525 ай бұрын
Great information, thank you for sharing 👏👏.
@charlessmith38467 ай бұрын
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……..
@bonusking1224 Жыл бұрын
"Deaf" and taxes
@adriantaraba320510 ай бұрын
liked and subscribed. thank you for the education
@sabrinataylor72829 ай бұрын
Which would benefit my family most a trust / will?
@fea5rrlessfea5rrless427 ай бұрын
You will know beyond, your thoughts
@sabrinavalbrun Жыл бұрын
Very informative 🙏🏾👑 Please Make one on trust VS a will
@doloresmorales6209 Жыл бұрын
Thank you.
@aprylharris13652 жыл бұрын
Yes. Pls do wills vs trust
@LYFEAccounting2 жыл бұрын
Noted, thanks for sharing your opinion
@zeropain93192 жыл бұрын
nice, thanks giving an overview of "how" to do it.
@Killagear50002 жыл бұрын
Isn't a trust fund better because your beneficiaries won't have to pay taxes on the money distributed to them?
@isaiahpedraza668 ай бұрын
I believe so, but I too would like to verify this.
@robincheramie2302 жыл бұрын
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?
@effyourjeweler427710 ай бұрын
D I A M O N D 💎 J E W E L E R support your boy DECENTRALIZED DIAMONDS .
@imantonio Жыл бұрын
At 10:10 you misspelled argument bro. Great video.
@ItsMeDeeDee Жыл бұрын
Yes please post video trust vs will.
@summerreed36887 ай бұрын
Thumbs up for the dad joke 😄!
@tribelfamilytv1374 Жыл бұрын
This was very informative.. Thank you☺️👌
@duskyrose234 ай бұрын
Thank you!
@Bigdee967 Жыл бұрын
Yes
@BCassandra1 Жыл бұрын
Thank you for sharing 😊
@lifewithtashabae48465 ай бұрын
What happens if we use an institution as the trustee and it goes oit of business of something what does the beneficiary do?
@straightshooterzАй бұрын
How much would I be looking to pay to initiate the trust and notary?
@cfjunkies Жыл бұрын
Haha love the intro!
@thaholisticdiva9 ай бұрын
Great information
@breew29682 жыл бұрын
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 😆😁
@LYFEAccounting2 жыл бұрын
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! .
@breew29682 жыл бұрын
@@LYFEAccounting that makes sense! Thanks!
@Prd64twl Жыл бұрын
Excellent...thank you!
@workfromhome5982 жыл бұрын
Awesome video! Thank you! ❤
@winstonsimon90922 жыл бұрын
If you have not already done so, please do the will vs. trust fund video.
@meledjeentreprise9438 Жыл бұрын
Hi have a question , if you don't have a lot of money what the minimum you could start with
@thegreatone12852 жыл бұрын
Nothing was great about Benjamin Franklin 😕
@pinkadiamond Жыл бұрын
Trust fund vs will
@joshuatrevino08232 жыл бұрын
Thank you for this video
@cadenitadelnazareno67179 ай бұрын
Please let me know how to create a trust fund for business purposes
@shiannecouch48444 ай бұрын
How can I find out if a trust fund has been established after a loved one has passed? Where to begin a search?
@scj984 Жыл бұрын
Can we include items that are currently still being leased or financed (vehicle that isn't paid off or properties)?
@nineether8334 Жыл бұрын
Great info, please make the more in depth video on Trust
@lxsmith2 Жыл бұрын
good information and good presentation
@nicholieazares358 Жыл бұрын
Really nice explanations..
@fea5rrlessfea5rrless427 ай бұрын
yes dance its soo fun!!
@DavieDaniels-dj4sgАй бұрын
Is it like a WILL
@downhomegirl53 ай бұрын
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.
@aishmakennedy39872 жыл бұрын
Please make a difference between a will or trust fund
@Iamcollinwhittaker2 жыл бұрын
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.
@UINSPIREME Жыл бұрын
Do you know how to setup a unincorporated business trust?
@StudioCafe2 жыл бұрын
Excellent....
@bruq9559Ай бұрын
What is the template websites
@barbaramabvudza42422 жыл бұрын
Trust fund versus a will
@WzupMydudeNdudettes2 жыл бұрын
Question:What if you have and S-Crop
@Jboogie192 жыл бұрын
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.