Revocable vs Irrevocable Trusts | Which One Should You Choose?

[@ClintCoons]

Would you like to learn more about this topic and talk to someone? Schedule a free consultation here: aba.link/pvr

[@greenhornet-law5828]

Knowledge better than gold. Thank you sir, may God continue to bless you

[@riseandinspire32]

Wow, mind-blowing lot's to take in. Thank you, great video!

[@ClintCoons]

Glad you enjoyed it!

[@clayleascher4649]

Great video, very helpful.

[@ClintCoons]

Glad it was helpful

[@dba2-js7mj]

Great info Clint. Your other videos talk about WY LLC for asset protection . Could you compare WY LLC inside a Revocable Trust vs Irrevocable Trust for asset protection and estate planning

[@ClintCoons]

Great idea. On the list.

[@andrewway4846]

You mention a support plan or package. I'm looking for someone to help me structure my properties in the right way and guide me in the smartest way for tax filing as well. Who should I contact?

[@ClintCoons]

Please email me at [e-mail] with your contact information, and I’ll have my assistant, Patti Peery, get in touch with you.

[@GaryNorton-m4e]

South Dakota Irrevocable Trust law permits decanting of the Trust for pretty much any reason so it offers great ability to change it. It also permits relocation of the Trust to another state or country.

[@InterdictionTrustAdvocate]

Also opens the door to inheritance thieves without Trusted Advisors and Allied Legal Professional Trust Guardians.

[@dba2-js7mj]

Is PRT (personal residence trust) same as PPT(personal property trust) that you mention in one of your other videos?

[@ClintCoons]

No, they are not the same. The PRT (Property-Related Tax) includes provisions specifically tailored for ta residence addressing issues such as property transfer taxes and homestead exemptions. These unique provisions set it apart from other taxes, making it distinct in its application and purpose.

[@shofarhagadol4698]

Clint, I have a Wyo Asset Protection Trust, being the Grantor. I thought about having my trustees set up a Wyo LLC where the trust is the member and I would be a manager. Would this scenario yield the same results?

[@ClintCoons]

Yes and that is how we typically set it up.

[@TheLunchboxCakery]

If your LLC is not single member, and an active business operating as an S-Corp with pro-rata distributions, does that present a problem in the 90/10 scenario or assigning it to your NAPT?

[@ClintCoons]

Yes it might invalidate your S-corp tax status.

[@seatruth5737]

I always opt for Irrevocable. 😂

[@marineart198]

How do I prove ownership to an LLC(s) if you set them up for me?

[@ClayJitsu]

client here. if you need to prove to someone else (usually a lender), you send them your operating agreement which states ownership. it will either have your name or another company you own (like a WY LLC).