Should You Have a Will or a Living Trust?

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Many consumers are confused about whether they should leave their estate through a traditional last will and testament, or create and fund a revocable living trust, to provide for their survivors.

[@loreneRa]

If you have limited time, Will-Trust analysis begins at 17:00

[@marionsforza6543]

Thank you! I was starting to get really frustrated.

[@reyzavala]

@@marionsforza6543, thank you for saving my time!

[@magalover2024]

Lol

[@chloe5susan]

Yes too much talking and start and stop. ADs etc.

[@NorthStarPNW]

Thank you! I thought he'd never get to it.

[@wiltagarn577]

Great talks: butSetting up a specific talk, then taking several unrelated questions, before the talk spoils a great effort. But it's your gumbo, and it always turns out good.

[@brennanleyen]

It’s a live stream… so people who are watching live get his first attention. That’s how Live works. Fast forward button is available for the closed minded. I learn a lot from other people’s problems.

[@LTVoyager]

I agree. That is why I don’t like Live sessions. It is much better to get into the topic and deliver the meat of it and then take the questions and run down the rabbit holes.

[@LTVoyager]

@@brennanleyen So, wanting to use one’s time efficiently is now considered being closed minded? I guess that makes open minded apply to those who don’t have real jobs and can sit around for hours at a time watching rambling videos that don’t get to the point for 20 minutes.

[@cinnjotime3995]

Thank you!!! I am from Louisiana & so thankful That u are too

[@creamysbrianna]

@Rabalais Estate Planning Thank you for doing all of these videos, they are extremely helpful.

[@joyhoward5325]

TY so much for your legal explanations and different legal avenues I'll be able to take and think about and speak to my children about. Your videos showed up on my feed, at a very crucial and much needed time in my life. Pretty sure it was the hand of God that brought your videos to me , to correct some decisions I've made and make things much easier on my children by getting things in order & changing things & documents. God bless you and thank you very much.

[@eulagary3738]

Thank you so much for all this much-needed information!

[@americasestateplanninglawy1946]

You are so welcome EG! 😎

[@annfrost3323]

I have heard lawyers say never make an Irrevocable Living Trust, meaning it cannot be changed. Should always be a REVOCABLE Living Trust.

[@whatwhat8524]

Damm! It is so complicated to die! LOL! Seems like dying shouldn't be harder than living.

[@Lucyspell892]

I would be interested to know how Nursing Home care would effect the trust.

[@bozzo651]

That was a very informative video. This guy aught to go nationwide as a company.

[@suzanneemerson9787]

Aught?

[@Lady3541]

Just discovered your videos. You are so informative thanks for sharing your knowledge so generously. Hope the laws in Tx are the same as in Louisiana I already have a will . If I now make a living trust, will the will be null and voidThanks again

[@trudydavis6168]

Laws of Texas and Lousiana are very different. I am sure Mr. Rabalais can and will address this.

[@judymiller1490]

If I decide to do living trust will my son have to sign any of those papers I live in Arizona

[@stevebenson506]

Thank you Paul. Some great info from your channel. I have been asked to be executor for both my father and separately my mother in law. Both are in their late 70’s. Hopefully won’t have to do anything for at least 10 years or more but want to be prepared. We live in Canada so there will be different terminology for investment vehicles and such. Our laws always seem to be similar to the USA but don’t see very much online regarding Canadian lawyers. Thanx for doing these series.

[@RobertGarcia-yg9cf]

Great informative videos thank you.

[@clouddragonz]

Thanks for the information. Very helpful

[@indigdoc]

Paul thanks. Interesting info for future. Subcribed. will continue to watch n learn. Jim (NOLA by way of Colombia)

[@hanflieu1425]

Thank you

[@jj4321]

What happens to funds if beneficiary has no social security number? After owner pass away.

[@InLawsAttic]

Thank you so much, it’s all so complicated and your explanations really help.

[@eb1266]

Love your videos❤🙏❤ their an eye opening

[@SH-jg5zq]

Thanks 😊

[@victimofacatthiefpoa2742]

As your saying right now, I thought you were actually live, I've actually never commented to anyone but you on KZbin. I've sent 2 messages to you, I'm not sure if you actually seen them, but definitely delivered. Thank you I did get a reply the other day about how stairways go both up and down from someone that answered was "your sisters stairs definitely aren't going upstairs.

[@5metoo]

Awesome explanations!

[@amuseinthecraftroom6257]

Do Roth accounts have to be disbursed in the same 10 year time frame as a standard IRA? How about HSA?

[@wendyguo5437]

Well explained

[@karenburris5176]

Very informative 👏 Thanks for sharing

[@gedalia1144]

Hi Paul! Really enjoy your YT talks on probate, revoc. trusts and so on. Wondering about -- w respect to an revoc. living trust -- if the appointed agent, trustee, fails to carry out the priovisions of the trust agmt like not making req'd distribs to beneficiaries? Aside from benefit of LT avoidg probate but isnt downside that financial accounting, inventory etc of LT is not public record (unlike a Will & probate) so if agent misappropiates funds etc., how is anyone to know, such as beneficiaries? Thanks!

[@sandracesar9828]

I'm from Oklahoma and I have a Irevocable Living Trust. Are rental properties and stock and bonds, cash protected by the Irevocable Living Trust?

[@rnggall9640]

Wow so much easier in NY, took 6 mo for creditor period, sold everything including the house, estate forms done by lawyer's team it will be 1 year next month executor will only have to do 2021 income tax filing

[@liwilliams1247]

My husband and I have been married for about six years and this is our second marriage. We have grown kids on both sides and our relationship with some of the kids doesn’t exist at all. We decided to leave to each other our assets and passing it to the kids that speaks with us when we both die. How to address this properly in the will to avoid contesting?

[@madriver50]

I suggest you not do that, unless its your intention to drive a further wedge between your children

[@connieregula3097]

I transfered my home to my two kids 2 plus years ago. I am 85 yrs old and just inhered over 100,000 dollars , as well as others savings etc. what would you advise, I do not have a trust?

[@karenbonnici6204]

You talk about any assets in BOTH names. We have a home, no mortgage, but the home is in my husband's name. We bought it together, I was not working. I DID sign a page when we went to the closing. One vehicle is in both our names, another vehicle is in my name. Since the mortgage is not in both our names, will I have a problem with a trust? What information do we have to have present? We live in Texas. Our assets are minimal .

[@vassoccaloviras6630]

Soon I will be 85 yrs. old. I own my house and I have an IRA plus two TOD'S accpimts and some savings and a deposit certificate. How can my sons can have all that if I go to a nursing home.

[@deniseh3094]

If you have savings and checking accounts in joint accounts with your children can Medicaid claim that money? Also, if our home is paid for and it is titled TOD to a child can Medicaid claim it for payment for nursing home care? There is no will or trusts in place.

[@realrosesforever3847]

That's a good question, was it ever answered?

[@wesmorgan8082]

Good info, but would prefer a more organized and concise delivery. Probably 5-10 minutes distilled, but thanks just the same

[@paulg2132]

Great information, Paul -- Question though along the lines of David Webb's question: Can you name the Trust as not the person in question (i.e. - ABC123 Trust) and can you then name the LLC as the Trustee? I'm writing a Novel and want to get the details as close to accurate as possible. Also, as I come closer to my own retirement, your information has been so very helpful. THANK YOU!!

[@goobanet]

Great Video! Are there ongoing annual costs to maintain a Living Trust?

[@madriver50]

the only thing that cost money are continued changes

[@manny7886]

My late father-in-law (passed away in 2000) and my late mother-in-law (passed away in 2021) had Living Trust made in 1998. He gave me a copy of the LT which I put away. It didn't cost me a dime to put it in my safety box.

[@loridarlingwalters5025]

I love your podcasts! I have a question about reverse mortgages. My mother passed away and had a RM a family member wants to purchase it . The house value is about $170,000 more than the pay off of the loan. I want to make sure everyone agrees with this. There are a few that want to sell and pay back the loan and split the rest of the money. Do you have any advice on this ? What is the time limit to selling the house . Some say 30 days some say up to 6 months not sure what to do. Any help would be greatly appreciated.

[@georgiabraun9675]

My mom's probate and my brother's probate are being handled by the same lawyer. I asked a lawyer to look into the following issues, a name appeared as the personal representative for both probate of whom I do not know, the lawyer called me back and told me that the man named as a personal representative worked for the lawyer handling the probates and that he was registered with the Oklahoma bar association. But in the mean time I tried to track him down my self. I called a financial services center and

[@wendlapidgeon5678]

Hi! My husband (71yr) is in memory care and we are self paying. I am 67 living in our home raising 3 adopted grandchildren 14, 16, 17. When we try to qualify for Medicaid will our dependent children be included ?

[@rubenpadilla4794]

Can just anyone create the Revocable Living Trust? I believe they can do a Will.

[@wendawindbigler9615]

Please, Questions and answers at end plase. ..

[@louisemariediemer7402]

Keith Vanderburg was a Trustee over myself and siblings. He trained up Leslie Weigand who took old documents when I was married to Walter Greg Zalek who she protected him when he violated a court order summer of 2019; I'm divorced!!!! It happened quickly because I had a prenuptial agreement that is notarized in Sheffield Lake Ohio.

[@dolorestanaka1219]

Hello, my husband are both retired, live in California and only own a home which is in both our names. No other rentals and/or business. We have two daughters and basically I would say are a normal family. I’m researching obtaining a will and/or Trust. After listening to your recording I feel I don’t need a will. Would that be correct? Also, how do I find a person to put together a trust for us and is it best to find someone in California and what should I look for when finding someone to write up a trust for us? Sincerely Dee

[@steverobinson489]

Hey Paul, If I have a Transfer on Death deed?Do I still need a will. All my other assets. 401k etc. have beneficiaries listed.

[@user-mq2lq1wf4d]

What happens if your dad is dying and has no will but he wants to do a living trust and he may only have like 10 days left

[@terrismith456]

My sister in Illinois just made her house “transfer upon death” with both her adult children as “tenants in common” her attorney said this is so much simpler than a trust to avoid probate. I’ve looked for a video on your site (I love your videos) but don’t see one. Why do you not like or otherwise explain “transfer upon death” option to avoid probate?

[@robertadaigle4156]

I do not have a will, do.or anything set up. I need guidance.Please. I am 75.

[@georgiabraun9675]

Sacor is a collection agency.

[@HB-yq8gy]

Paul in New Jersey probate is very efficient.

[@frankcanha]

Keep calm and oh look a squirrel!

[@quynhmaisnyder2074]

Can I discard my will with a trustee in the will

[@karinvaleri7130]

My mom put her house in a trust after dad died cuz she didn't want a sibling to inherit it. So no probate , no capital gains tax. She wad charged by our province, about one percent the value if house...wad 350,000, she paid 3200. For trust being set up. All other investments were beneficiaries and I wad on her bank accounts and safety deposit box..easy peasy.i live in Canada. Question...If my house and investments r in a trust with hubby, and I pass, can he get another trust set up with our kids named on it?

[@georgiabraun9675]

Sacor was the financial service not the name listed as the personal representative. Sorry about that.

[@judyhinson1090]

Why am I not getting the code sent to my email account to set up an account with My Advocate?

[@victimofacatthiefpoa2742]

To anyone that actually saw the first 2 questions, when I said I DIDN'T want to destroy the closing. I have changed my mind. Tomorrow is Friday and I kept trying to be nice... I'm not broke... She needs to learn a BIG lesson in Probate Court!

[@tanyabatagelj9805]

Regarding “rights of survivorship” on a property. What if the title is not owned with a spouse but a son/daughter...would the other heirs get a portion of the deceased portion or would the property roll over to the son/daughter on title?

[@clouddragonz]

Depends on if property is held as joint tenancy or other type, I think.

[@baymasaj]

I don't know how they did it but my brother's sister and brother-in-law stole my inheritance and I do know that the will is forged. I have all of the typical symptoms of how this happens in a family geographically either 4500 miles away, They have been planning this for 20 years and have cleaned out most of the estate my brother deeded my mother's house to himself which was 450,000.00. She had my brother-in-law be the trustee for her trust I believe it was a living trust I don't know for sure, and she had him the executor of the estate big mistake I asked her why she said because hes a professional he is a lawyer but hes been telling me for years there's nothing left. Come to find out she had Alzheimer's for since 2003, I was also beneficiary to her life insurance policy somehow they took that. I'm not as concerned about the money as I am how they broke the law and he is a lawyer after all. They committed forgery and theft and they've been cleaning up my mother's estate all of her assets for 20 years it's theft. They tried their d*** hardest to keep her Alzheimer's a secret from everyone and they're still denying it. But. But it States right on the death certificate all all timers is the cause of death and then they ask what length of time she had its years. Right now I am looking for a forensic handwriting specialist to determine that the signatures on the deed to the house and the will are forged but I know my mother's signature and it isn't my mother's signature it's my brother's!

[@sandracesar9828]

With a Irevocable living trust, why would you ever need a will?

[@johannes671]

Damn!....what a rambler!...

[@Gregarious3]

That is how you cover more different people in your explanation.

[@trishm2132]

Do you know anything about selling a USDA home to family member who is single, Handicap & Disabled on Medicaid? Thank You

[@rizgreen5526]

What if me and my husband are divorced but bought a house and still live together? Can we set up a trust to our daughter?

[@oncoi1]

i have question my mom is the care giverto this lady for 9 years and this lady sold her house already and wants to buy new house and she have trust and in the trust she put her brother and my mom name and last week she past away and she dont buy the house so is the money that supose to buy the house her brothers gets to keep all of them or what and in the trust said if she died her brother get 50% and my mom get 50% can you explain please and i hope you understand what im trying to say thanks

[@Gregarious3]

See a estate/trust lawyer, worth the hour to not have hard feelings.

[@dorislacaze8475]

If the home was bought between the husband and wife , and there was not a will when the husband dies your saying the wife automatically gets the home and property even if they had children without the children having to donate the property back to the surviving parent ?

[@robertlong7723]

What happens to your will example when the second person dies and the three children are minors?

[@sherriebeazley8150]

When my mom died she left me trustee and I saw my family turned into salvage dogs. I walked a journey through hell because of their actions and words. I ended up splitting 50/50 and legally disinherited their sorry butts for breaking all rules in no contest clause in trust. I have had my car damaged and my roof damaged. They lied and slandered me and recruiting people to destroy me. I had to call police and they just keep doing crap. I did exactly what my parents wanted and stood alone to do right by them. I didn't need the cruelty after losing my mom it been very painful.

[@connieregula3097]

I have 5 children to give away to as well as grandchildren how do I best handle this money best way/

[@rickeyalyles7609]

Anybody know the name of his book?

[@wiltagarn577]

try his name on amazon

[@2much2dream.lastnite]

Estate Planning in Louisiana

[@ofeliac567]

Should I put trust as my beneficiary for my ira or direct to my daughters.?

[@frankporfidio9813]

WHY does it have to be so flippin complicated ? My father left a will and two years later and it's STILL not settled !!!!

[@bobchapman2941]

I live in Florida and would like to create a trust to handle our small estate. We have a reverse mortgage on our home but can deed it to the trust, the purpose for the trust is to shield the equity in our home without creditors filing liens on the property, etc. Please Private Message me with your feelings,

[@alviebarbaza2005]

Can wemake our special needs trust for my son? as long as it is notarized

[@georgiabraun9675]

Continuation of my story, I inquired as to the address of the business, she said she could not give that information to me and transferred me to a man I asked the address of the business, he gave me a partial address, and I asked him if he was the name of the person that appeared in the probate document relation to their financial service he stated the man was his boss.

[@georgiabraun9675]

Continuation I wonder why his boss was listed as the personal representative on both my mom's probate and my brother's probate and is that man's boss. I established that I had the correct account by stating my brother's business in NYC. You think there are two different people with the same name or same person and how would I find out? I noted that both are lawyers, KZbin sited a case Sacor the same name as the listed as the personal representative listed on both probates. His name was listed as having frozen my brother bank account. Can I find out how much money was in my brother bank account.

[@jj4321]

Why don't I sell my house to beneficiary $1 at early days, I pay bills, then I live there till I die?

[@Gregarious3]

The "new owner" has a major change of circumstance and is forced to sell and now you are homeless. Reason 2 is there is much higher value from when you bought it and they don't get the step up in basis.

[@jj4321]

@@Gregarious3 step-up basis is removed in latest laws. It has to be someone you can trust, typically your heir, who won't sell you out. If you cannot trust your heir, there is no point of leaving anything to her/him.

[@Gregarious3]

Jason Wong heard the expression, “anyone can sue anybody for any reason or nothing at all”? A trusted friend/ intended heir can be driven broke by a third party.

[@evelynharris8913]

We need help Mr. Paul if you have time this irrevocable trust.

[@briankowald6465]

Even you have a trust, don't you still need a will for non trust assets like cash, furniture, etc.?

[@louisemariediemer7402]

Why am I in Probate when I just have asthma hippa compliance im not dead yet I owned and own a lot 1/6 owner of a steel industry. At any rate my x husband I DIVORCEd 11/4/2019. He is still hunting me down on social media. I'm his 3rdc ex wife. His 2nd wife died 1/13/2012 Lesley W is blanking my x My biological Son is finishing up college for this year as an Mechanical Engineer in Ohio. Ohio is where we Live

[@arlenefilesfuller7259]

May be taking questions after your presentation, ppl will be have more knowledge of basics

[@althomes8517]

To much time taken to answering questions. Can we stick to the planned session….Trust vs Wills!! Al

[@janetfoley7878]

Land grabbers and body snatchers

[@ginolopresti2997]

If you have 5 million coming how bad do i get hit in a biden adimistration.

[@Gregarious3]

Are you Democrat or Republican?, totally matters these days. If they died today and you are the only hier, very little if at all.

[@Tpry]

Your video always contain a lot of diversions and mixedwith livechat , it is very winding , confusing , asa result. Why dont you go straightto giving your info straight? .

[@gaildunmyer4508]

Answering the questions first is distracting

[@motowngirl5891]

Unreal better off not owning anything

[@Topol60]

Answering those out of order random question really turned me off and frustrated! Stopping watching and liking.

[@endlessadventure541]

what a long winded intro. Just wanted info. Couldn't take all the self advertising. UGH! Thumbs down

[@willywonka8730]

Hope your making money on your videos. I can't watch any more - Far far to many advertisements -