The Biggest Differences Between A Revocable Vs Irrevocable Trust

[@TobyMathis]

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[@EpicenterLLC]

Toby, my friends and I listened to your live event today with Aaron Adams. Such good information. Well-presented, genuine, and encouraging. Thank you! We look forward to working with your team.

[@TobyMathis]

Our pleasure! Thank you for watching us!

[@LAKitchen]

This was helpful BUT still missed the hard points such as IS A SIMPLE IRREVOCABLE TRUST SOLID ASSET PROTECTION in states like California? If all proceeds are distributed, then would be NO TAX to pay at high trust rate? What is downside of gifting rental property in simple irrevocable trust, if any?

[@sb-kc3xc]

7 mins isn't enough time to discuss such a complex topic I guess because I am more confused now than before I watched this video & there seems to be several points that were contradicting each other (I am sure there are nuances that were not discussed but still confusing) Ex: Revocable trust - stepped up basis, Irrevocable trust - no stepped up basis, but I thought an irrevocable trust avoids the estate tax issue, does it create a capital gains issue?

[@anonymousdonor8084]

Crazy question: In USA, is there any way to reduce or eliminate local property taxes? Is there any way to find locations with low or no property taxes?

[@TobyMathis]

Thank you so much for your question! We highly recommend you join us at our next Free Tax & Asset Protection Workshop Livestream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/taptoby

[@brucehanson8481]

Could a nursing home go after a personal bank account and brokerage account to cover fees? Could they do that if the accounts are to be left to an irrevocable trust?

[@TobyMathis]

To get the best answer tailored to your specific circumstances, I recommend scheduling a free consultation with my team. Visit: aba.link/43s

[@mylifeexperiencebystephani6989]

Hi, Atty. Toby good day I want to do irrevocable trust to my House but I put it into Homestead Exemption. Can i still put my house in an irrevocable trust with my Car and Life insurance? How can I contact you if you can help me with the irrevocable trust. Thank you.

[@TobyMathis]

Hi, thank you for leaving your comment. You can request a free 45-minute consultation to discuss our proven asset protection and tax strategies and how they apply to your unique situation. You can request your free session here! -------> aba.link/tobyss

[@la_uruguacha]

thanks gentlemen🙏🙏🙏

[@TobyMathis]

Our pleasure!

[@willmallory9085]

Is Life Insurance taxed? Please answer here and on your live stream today.

[@TobyMathis]

Thank you so much for your question! We highly recommend you join us at our next Free Tax & Asset Protection Workshop Livestream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/taptoby

[@RightfulHeir-r3x]

We want NICER Forgery Proof Documents.

[@shaycooper3989]

Own nothing and control everything you can't take material things with you when you die so I would say create a Irrevocable trust.

[@jessiemartinfostersr.6067]

AFTER THE RESET THEIR WILL BE NO INCOME TAX , ONLY SALES TAX ON PURCHASE OF. NEW ITEMS.

[@anonymousdonor8084]

Source?

[@overbuiltlimited]

What?! Totally wrong!! The Great Reset is the brainchild Klause Schwab. He says that he wants to raise taxes and that we “reconsider our collective commitment to ‘capitalism’ as we have known it”. Translation: We want to get rid of capitalism so we can better control people. Damn man it’s in his books. How about you read one instead of making things up. Also, why are you yelling?

[@jjazz3887]

7 minutes and I still don’t have the basic definition of a trust. Thanks for nothing