The Benefits of a Living Trust: Living Trust 101

Setting Up a Living Trust (Estate Planning Basics)
Setting up a living trust and essential estate planning documents everyone should have.
Complete Will and Trust Package available in all 50 states.
Our Firm website: www.martinsenw...
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[@FinancialFastLane]

Interested in the Complete Will & Trust package? Schedule a 15 minute meeting to begin the process. Here is the link www.martinsenwealth.com/schedule-a-meeting/

[@jonathandrayton7311]

One thing that stood out to me was that some people want nothing to do with you while you're alive but show up when you die to take everything you owned.

[@ethanbell8639]

Loved this video. The examples were a great addition to

[@rchsuccesspartnersllc155]

Great job- explaining. Thank you and good package

[@vivianfwilliams]

What a great video!!! Thank you so much!!! ❤

[@CraigNewellShow]

This is good advice for sure.

[@theresacarpenter1962]

I’m 51 and I can’t thank you enough for sharing this info!!! My dad just passed so I am just now learning all about this!!

[@qwenqwen1476]

If you have more than $100,000 in assets, a trust is a good idea to have. If you own real estate especially in California, it would be crazy not to have a trust…unless you love to donate to the state.

[@rudyzooti7159]

Met with a lawyer last week to update wills and create a trust

[@tommarinevet]

We did a Revocable Living Trust..best thing we ever did...all is according our wishes..

[@francisthawn8706]

How much you spent and where was it? Just curious ballpark of cost

[@mariapolanco9652]

Very informative - thank you. This might be a dumb question: The completed package you offer, is that a couples fee or per person fee?

[@FinancialFastLane]

Thank you! Per married couple or per individual if not married.

[@sepideh755]

Does a revocable living trust protect assets such as real estate and other assets in it ? Can you use revocable living trust as an asset protection instrument instead of LLC ?

[@FinancialFastLane]

@@sepideh755 A revocable living trust does not provide liability protection. You would need to use liability insurance and/or LLC‘s for that. An Irrevocable trust may provide liability protection, but you would definitely want to consult with an attorney.

[@trealwilliams1563]

Damn Right !!!

[@lesterjeffries682]

I was thinking about a video will that explain what I want all the asset to go, will that work as a living or trust will?

[@trealwilliams1563]

I subscribe !!!

[@kittencumberbatch6892]

My husband and I have been living apart for 3 years. We don’t have plans to divorce but also no plans to live together. I want to do a trust for my children and myself. How do I address the spouse problem in the trust?

[@FinancialFastLane]

You really should consult with an estate planning attorney in your local area.

[@hollystiener16]

Probably get divorced. But barring that, just say that you acknowledge that you have a husband, but that you are elected to leave him nothing.

[@joking6052]

Apparently , from your responses to other customers, the cost indicated here is $600 only to cover attorney fees. But it seems to be misleading because it appears that $600 was a total package to include forms, legal guidance and help. Why are you not indicating what the actual cost will be ? Are you charging on ability to pay ? And what is your product/service differentiation compared to a common attorney ? What advantage will it be for us to buy from you ?

[@FinancialFastLane]

There may or may not be an advantage. Working with a local estate planning attorney may be the best choice for you especially if you have a more complex situation. However, a local attorney will most likely will be a more expensive option. If you are looking for a low cost solution the $600 package may be something to consider. If you would like to discuss more of the details you can contact our office www.martinsenwealth.com/

[@joking6052]

@@FinancialFastLane Thanks

[@danskisbees7348]

If I were to place my home in a trust, would it lose my Homestead Tax Exemption?

[@FinancialFastLane]

The impact of placing your home in a trust on your eligibility for a Homestead Tax Exemption can vary depending on your specific circumstances and the laws in your jurisdiction. Homestead tax exemptions are designed to provide property tax relief to homeowners who use their property as their primary residence, and the rules can differ from one place to another. In some cases, placing your home in a revocable living trust may not affect your eligibility for a homestead tax exemption because you still maintain control and use of the property as your primary residence. However, it's essential to consult with a qualified attorney or tax professional who is knowledgeable about the laws and regulations in your specific area. They can provide you with advice tailored to your situation and ensure that you comply with all local and state regulations when setting up a trust for your home. Keep in mind that laws related to property taxes and exemptions can change over time, so it's crucial to stay updated on the rules and regulations in your jurisdiction to make informed decisions about your property and taxes.

[@danskisbees7348]

​@@FinancialFastLaneThank you.

[@moserruya805]

Avoid anything to do with lawyers..the worst kind of criminals.

[@mariaarroyos2925]

Exactly!

[@PatoSly]

Is a Living Trust also good for a Foreign National that own a property in USA? can he pass it to his kids?

[@FinancialFastLane]

Probably but it depends. You would want to get legal advice directly from an attorney.

[@kocmoctube]

around 9:50 mark you said LIVING WILL two times when the rest of the video and title is LIVING TRUST. Are they the same or you misspoke? Thanks

[@FinancialFastLane]

They are two different things and both important tools of estate planning.

[@roystervi]

Hi as some veteran do not pay for property taxes, nor some plates and tags. would these veteran still about to fall under the no property taxes radar if their house is in a living trust?

[@tommarinevet]

Yes...

[@stevenvalett1231]

Question, Doesa Living Trust end when one of the persons on the Living Trust dies?

[@FinancialFastLane]

No it does not

[@nparmstrongcommish5761]

So your fee is not included-the trust is separate?

[@FinancialFastLane]

The trust is included. It has a a complete package.

[@franklinwill22]

Are there fees for updates to the will or trust?

[@qwenqwen1476]

Usually yes. But may be worth it if say you got a divorce and no longer wish your spouse to handle your assets.

[@mariacook8540]

They starved Terri to death.

[@LegaleseWarrior-w4i]

No thanks its too easy to forge,

[@pattykushner2838]

Great job showing the importance of estate planning documents. Why so many people just don't take the time to learn what you eloquently explained is beyond me? My wife and I have created all the documents you explained and are happy to know our wishes will be honored. Thanks for sharing your knowledge.

[@cinaannie7338]

I will answer that question: BECAUSE SOME OF US HAVE NO CLUE OF THE PROCESS UNTIL WE HAVE A DEATH IN THE FAMILY! THAT is what happened to ME!

[@SouthwestVirginian]

Thanks for the great summary explaining the importance of this subject and related documents. This will be shared with family and friends.

[@LegaleseWarrior-w4i]

We tried this and it cost our family 50% in billable litigation hours because it's missing the Legalese Administration Lawyers approved Notary Index Crime Enforcement Regulatory Permission Ledger Arbiter Interdiction Trust complete administration.

[@adriennecrosby4105]

The reason is that Estate Planning is expensive $5K+ and the regular person doesn’t have that money.

[@leoobooboo2296]

True we. Can not afford it

[@covertchannel]

You can create a will free or near free online. Then get it notarized by any notary and have a witness sign in front of the notary.

[@TrustVictim]

All your getting with an estate plan is easy to forge paper that cost our family 50% in Litigation, and the Estate Planner who promised peace of mind refused to help, Get a NICER approved Administration Lawyer and make payments on the complete administration costing a Prebate Nickel to spare our kids the Probate Dime or Trust Litigation Quarter

[@TrustVictim]

​@@covertchannelour cousin tried that and costs 25% in Probate Litigation you need a NICER approved Administration Lawyer.

[@PlainenglishTrustvictim]

​@@TrustVictimour parents Estate Planner promised peace of mind and delivered a nightmare costing half our parents estate in Billable Litigation Hours. Legalese Administration Lawyers who are using the forgery proof NICER Permission Ledgers include dozens of steps costing a Grantors Prebate Nickel or Grantees Probate Dime to avoid the Estate Plan Forgers and Quarter Billable Litigation Hours.

[@LegaleseWarrior-w4i]

No Thanks the Trust is just the first step and Tree of Life Law Firm has a free one except for the cost of the documentation.

[@stacysays]

I haven't funded my RLT yet, but I did create it. Can I amend the name? For privacy reasons, can I change it to something random like "The Coffee Table Trust?" Does it HAVE to also have the word "Living" in the title?

[@a_ya_la]

This was very informative. I am trying to decide how to get thing together for myself. When my parents died they had everything in order. Going thru Family situation where land as big as Football field and Uncle had a will and his step kids who he did not adopt are wanting a piece of the pie. This is why I an deciding on a Trust.

[@cinaannie7338]

My friend is going thru something similar!

[@AlfredoHernandez-ri9ps]

I have a living trust done by an attorney It costs me $2000 in January 2024 I I’m in need of another one .

[@arabastajian-di6tf]

Hi complete Will &trust package if will transfer to 4 people the price will be the same or will be the same like you described $600.00 Thank you please let me know

[@FinancialFastLane]

You have have as many beneficiaries as you want.

[@Rainmakesflowers]

The package that you provide for 600$ then has to go to an attorney? If so what should I/we expect to pay the attorney I assume there will be filing fees.

[@FinancialFastLane]

The $600 is the attorney's fee. Schedule an appointment with an advisor at my office to discuss. www.martinsenwealth.com/

[@susancowlishaw2434]

At 9:48, you mentioned a "living will." What is a living will, or did you mean living trust?

[@Spot_the_dog]

They are different. You should have a Will along with your trust.

[@oldskola3634]

What’s the link to the $600 trust package?

[@FinancialFastLane]

Here you go: www.martinsenwealth.com/schedule-a-meeting/

[@nightly522]

fantastic!

[@wrfarms9741]

It would be helpful if you or your staff could post the actual web link to the Complete Will and Trust Package. Perhaps I missed it but I looked all over the Martinsen website and did not find it.

[@FinancialFastLane]

Interested in the Complete Will & Trust package? Schedule a 15 minute meeting to begin the process. Here is the link www.martinsenwealth.com/schedule-a-meeting/