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@24carrotgold8 Жыл бұрын
Wow! This was the first question I had about transferring my home directly to my heir!👍😊🥳
@timothytremblay77632 ай бұрын
Such incredible entanglements. Good God Almighty free us from this wreck of legalities! I do thank you sir for your knowledge and expertise in these galling matters, I've subscribe to your channel because I've been a professional musician my whole life and never had to deal with this. Peace be with you❤️✝️
@RobinGKT Жыл бұрын
Isn’t it also true that if you leave your home in your name only, in the trust, after passing the heir can use the inheritance tax to deflect the taxes due upon selling the house, (the difference between the value when bought and the value when sold)? Or am I just saying the same thing in a different way?
@JJaani Жыл бұрын
Thanks. What about home with no mortgage? Same approach?
@caseG808 ай бұрын
Get good attorney get everything in Trust then if you can an LlLC so they don’t tax you to death while stilll alive when trustee passes helps greatly to reduce paying tons on taxes. Best to find good trust attorney .My nana just passed and left me the executor of the trust so im actively in the process of what the trust was said to do after death there were 5 properties her main. Home to be sold some divided with trustees other sole trustee got but our attorney has been a huge help. Took my nana a couple until she found one she liked so keep that in mind
@robbielee7067 Жыл бұрын
Thank you Paul
@victoriathorlacius874 Жыл бұрын
What if your “mortgage” is in a Deed of Trust form. No attorneys I have watched explain if the same applies.
@richardbryanesq Жыл бұрын
Is that where the bank actually owns the property until the loan is paid off?
@nicolg539329 күн бұрын
I was told by a lawyer that I could not put my property in a trust since we have a mortgage, this is in Florida
@RS-nc5qx11 ай бұрын
I just had a Lawyer hang up on me angrily because I wanted to do both a will and a living trust.
@discovermotivation7628 ай бұрын
You don't want a will. Just get a living trust.. I just did all this. I used Law Depot ...for free...fees for notary and county fees etc ...get this done!!
@candiceconaway795 ай бұрын
What if there is a Lien on the home can it still e put in a trust?
@JoolieOoliee8 ай бұрын
How does this matter or come in to play with having or not having the land patent or allodial title?
@davefejeran5501 Жыл бұрын
With the TITLE COMPANY?
@wayneguy604310 ай бұрын
When an irrevocable trust sells an asset and realizes a gain, and those entire proceeds and gain is then distributed to the sole beneficiary before grantor death , does this mean that the irrevocable trusts must pay capital gains taxes. original purchase price $200k , value when trust created $400k , sold 2 years after trust formed for $400k , is the basis for capital gains $400k and therefor no capital gains tax?
@michellecosta813222 күн бұрын
What happens if the person you’re leaving everything to is just a child? How do they gain access to everything I own God forbid if I pass or away or not in the right state of mind?
@user-up4zi1do6p Жыл бұрын
Thank you 👍
@justrama4 ай бұрын
Does this apply to all mortgage types, e.g. FHA?
@Starlight-hd3ui9 ай бұрын
How can I get in contact with you ❓️🤔
@sheilam4964 Жыл бұрын
Thx.
@amac419423 күн бұрын
What if the home is not paid off yet??
@jillkinnard270Ай бұрын
How shouldyou insure the home if its placed in a revocable vs irrevocable trust, such as a 3rd party special needs trust?
@Marella2024 Жыл бұрын
Is this the same for a irrevocable trust?
@karenok464 Жыл бұрын
What's the difference between a revocable and irrevocable trust?
@legacyopp9318 Жыл бұрын
One your alive The other your dead
@Corkfish1 Жыл бұрын
The danger of transferring property to an Irrevocable trust is you lose the step up in basis
@southrichmondtofl4 ай бұрын
@@Corkfish1 I think you lose any tax grandfather/advantage you have as well. Not 100 sure though
@Teknomanslade2 Жыл бұрын
Question: so what does it look like on the Real property search on the house in a trust? Does it still have your name on it? or the trustees name? or like an entity name?
@southrichmondtofl4 ай бұрын
Name of the trust is on the property appraiser site.
@legacyopp9318 Жыл бұрын
Does this act apply to non qm loans?
@Jill-th3nd3 ай бұрын
Is this generally the same for the UK….! ???
@BarrySandhaus2 ай бұрын
That can be a freaking nightmare do not put your real estate in your living trust unless it is in a land trust.,. If there is a lawsuit do to someone getting serious injuries and s big judgement. Now you will lose everything in your living trust untill you satisfied the judgement
@alexsharper5606Ай бұрын
Wrong… a revocable living trust is protected from the court of law you don’t have to say who is the owner of the trust in the court of law if you have everything you own in a RLT you are virtually protected by losing your assets due to being sued!
@williewest55748 ай бұрын
Can you sell your home once it's in a living trust assuming home is paid for
@americasestateplanninglawy19468 ай бұрын
A grantor of a living trust can typically sell their home that is in their trust - even if a mortgage still exists.
@williewest55748 ай бұрын
@@americasestateplanninglawy1946 so I suppose they can sell it if it's paid for also?
@johnthomasdesign2 ай бұрын
yes - and make sure the check at closing is made payable to the trust and not you as an individual
@laurenbidigare7044Ай бұрын
My parents made a living trust. My mom passed now my dad wants to give the home to his brand new gf if he dies.
@victoracevedo62286 ай бұрын
Why speak so fast?
@southrichmondtofl4 ай бұрын
Cause he's seasoned and he knows this like the back of his hand.