What Assets Should Stay Out of Your Trust?

In this video, attorney Bill O’Leary will explain what assets you should keep out of your trust.
You will learn:
• Why some assets should not be transferred into your trust
• How some assets are better protected outside of your trust
• What risks are incurred by having some kinds of assets in your trust
Do you have any questions, tips, or experiences with this topic? Leave us a comment below.
Legacy Planning Law Group is dedicated to helping people protect their family and preserve their legacy. We serve families and seniors with Estate Planning, elder Law, and Probate needs throughout the greater Jacksonville, Florida area.
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(Music by www.bensound.com)

[@Scottweeier846]

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After I raised up to 125k trading with her I bought a new House and a car here in the states also paid for my son's surgery Glory to God shalom.

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I am at the beginning of my "investment journey", planning to put $400K into dividend stocks so that I will be making up to 25% per year in dividends. Any advice?

[@WestonScally7614]

Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.

[@FelineAirstrip]

There are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience

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Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.

[@sting_grayl]

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[@SaintYvess]

*Jennifer Leigh Hickman* She's been able to gain some reputation with over a decade of experience, so it shouldn't be a hassle to find basic information on the web.

[@bluenetmarketing]

Great information, but PLEASE delete the background "music noise." It detracts greatly from your content and makes it impossible to hear everything you are saying. Most youtubers have long since deleted any background "music noise" from their videos for just this reason. It was a fad at one time, but almost nobody does it anymore.

[@jerrys5946]

Yes. Those of us with hearing loss find it especially annoying.

[@icc64]

​@@jerrys5946all of us interested in this subject

[@aquaviz4854]

So agree

[@user-mr1mq8ge1q]

He' Actually GUILTY And Then Which would Allegedly Hold Your Philosophical View Flawed (Causality)

[@wcasox]

Yes good advice, but background music too loud

[@poolmilethirty2859]

Agree, background music not needed.

[@ChloeCarter-kd7gz]

With around $250k to invest, what's your advice on entering the market? I'm considering replicating the strategies of experts instead of investing independently to avoid both financial losses and emotional stress. What are your thoughts on this approach?

[@LeahLewis-ny9iu]

Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.

[@MelissaHobbs-qm8wi]

This is an insightful perspective to consider.

[@AshleyKeith-vw7ws]

Agreed, my portfolio is well matched for every market season, yielding 60% from early last year till date. I and my advisor are working on a 7-figure ballpark.

[@WhitneyRoss-dj4rf]

Your financial advisor must be really good, Wehrine. I hope it's okay to inquire if you're still working with the same advisor and how can I get in touch with them?

[@AshleyKeith-vw7ws]

@@WhitneyRoss-dj4rf That would be Desiree Ruth Hoffman.

[@FRANKLIN-nu6wo]

Thanks Bill for your insight!

[@user-wk5jo4hx7w]

Excellent information. Thanks so much!

[@gr8ride411]

Very useful information 👍🏽Thank you!

[@jolynbranch1211]

Thanks, Bill!

[@JaniceHylton]

Thank you so much for this info. Can you please tuen the music d9wnnfor next video. It was so hard to jesr you, and I need this info.

[@wilsonbeat9117]

Great and insightful. Thank you!

[@SheriChase]

"Background music" is so over rated. It's not necessary. I was getting a headache trying to hear you. It's worse when trying to wear headphones or speeding up a video. It's awful. Loved this video but would be better without the distracting, annoying "music".

[@karenswanson118]

Totally agree with the music comment

[@smiley8881239]

I agree!!

[@joereyes5621]

Move on…

[@longgone2023]

Yes I hate that noise clutter

[@ipeteagles]

educational thanks

[@zackblessing1017]

A great day and a better world!

[@marcymartin9315]

Thanks. Really helpful.

[@russellgray3303]

Thank you for the video!!! We learn a lot from you! Thank you!

[@tscoff]

Thank you. This is very useful information!

[@tony745]

Very good video. Thank you for the information.

[@hartzogLovesScience]

Thanks for the advice. I didn’t think about using a trust as a beneficiary

[@danbutler3757]

Very good insight, Thank you! I have multiple pieces of real estate title and various grantor trusts for privacy and protection. This has worked very well in the past. In fact saved me over $550,000 on one DEQ lawsuit. How can I make sure that each of the properties comes back to my estate and my errors, but I am putting my personal trust together?? I have subscribed to your channel and have shared it with quite a few friends who are in real estate. Many thanks

[@michaelsmith-rh4yt]

Get rid of the music

[@FrankJohnson-hu9bh]

at least it is background music, and also has no wierd volume changes.

[@shabazan]

Downvoting

[@TheChancesmom]

Amen

[@edmor1086]

Agree

[@hartzogLovesScience]

Learn to tune it out. It is, after all, on a loop.

[@legacyplanninglawgroup5897]

Thank you so much for watching! We've heard you about the background music, and we've endeavored to correct that in our newer videos!

[@frankmoran7714]

Great info!

[@robs9610]

Love the video, do you have any Michigan trust attorney recommendations??

[@Scott-sm9nm]

Real valuable information in a short amount of time. It was, however, unclear what type of trust it was (irrevocable, ?) or maybe it doesn't matter?

[@user-qe5ii9kq6b]

Very good 👍🏿

[@user-ix3zx8gu3t]

does this apply to having other family members' Trusts listed as beneficiaries on IRAs, etc.??

[@nononsense7655]

Great video! Does each state have different laws or naw?

[@hoosiermama3001]

Such good advice presented in an easily understood manner. Thank you!

[@BulentKizilaslan]

I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year.. Investment should always be on any creative man's heart for success in life

[@inicMich-rc5wo]

You're right, with my current crpyto portfolio made from my investments with my personal financial advisor Stacey Macken , I totally agree with you

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YES! that's exactly her name (Stacey Macken) I watched her interview on CNN News and so many people recommended highly about her and her trading skills, she's an expert and I'm just starting with her....From Brisbane Australia

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Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently earn as much as 12 grand weekly and this has improved my financial life

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This Woman has really change the life of many people from different countries and am a testimony of her trading platform .

[@Richardson238]

Wow. I'm a bit perplexed seeing her been mentioned here also Didn't know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super

[@duggydugg3937]

no veh good point

[@prelitigation1]

Could you, being a Texas attorney set up a trust a trust for a client in California ?

[@ginabrown3901]

Do you give trust advise for just Florida residents OR any state resident??

[@user-qe9de6lj6w]

What about Alaska?

[@user-or6sc7cg2h]

What will the digital dollar do to family trust accounts ?

[@eugenefernandez4377]

How much do you charge to do a trust and a land trust?

[@vincentbugalia3858]

How much does it cost to set up a revocable trust?

[@elizabethdominguez8817]

In NY you can only transfer a vehicle worth up to $25,000 upon death. Otherwise it must go through probate. So in the case of a car worth $80,000, should I put it in a trust?

[@j.andrewk.327]

But if one has a "special needs trust" the trustee and not the beneficiary has control over asset allocation. What do you advise in that circumstance?

[@pankajpatel4434]

Do you advise us to put the Trust as beneficiary for the Roth IRA account? I thought it was not advisable! Please clarify 🙏Thanks

[@eastwestpicayune8200]

Did I understand you correctly that to designate a trust as a beneficiary of an IRA? That is a no no according to a financial consultant. A trust is taxed at a higher level instead of ordinary income. Please clarify if I am wrong.

[@westhighlands522]

I thought it was in my head! Lol. Good advice though. I will be setting a trust up soon and this gives some knowledge going in to it.

[@danamyrocket]

How many cases are there where an individual actually incurs a financial penalty from an automobile accident? I’ve heard the risk mentioned over the years, but never heard actual data on frequency or severity. I’m really curious about this.

[@MikeyB_1972]

Can you make the trust the beneficiary of your retirement accounts? Or keeping beneficiaries as your children, there is no tax implications with respect to the transfer after time of death? Something along the lines of they have 10 years to withdrawal all the money or something like that?

[@user-qe9de6lj6w]

Are your laws in North Dakota the same as the laws in Arizona?

[@SherryXShi]

what is the probate difference between CA and TX?

[@dajonczy427]

What about collector cars?

[@duggydugg3937]

sep trust for veh ?

[@seven1378]

I’ll listen when the background noise is gone

[@paulkoza8652]

I agree about the music, but the guy is spot on with his advice. I had a great elder law attorney in JAX and she was very specific and thorough about what assets should and should not be placed in a trust. Don't cut your nose off to spite your face. Listen to the entire video.

[@barrykelly2722]

Put home in trust, check...... But when i turn 65, my county will begin to waive the property tax. Will this be possible if the trust ownes it?

[@user-sd8yb7qy8r]

So you need a trust with things you own and a will with money distribution . Why can't everything be put into one legal document because two sounds confusing. At least that is what I understand to do but now am confused.

[@fiftyoneandsomechange]

Great information. I'm in law school now and want to be an estate attorney.

[@user-qe9de6lj6w]

How will you learn to try a case?

[@fiftyoneandsomechange]

@@user-qe9de6lj6w I have an internship with an estate attorney next year.

[@repriser9876]

Trust tax rate? When it's taken out?

[@davidmengle8269]

So the only thing I should put in the trust before I die is property?

[@Tasteprettyllc]

Can you give me some valuable information? Specially, with my life insurance policy, I think I should set up a trust and make it the trustee

[@robertjohnson4401]

You recommend to not put retirement assets in a trust. I assume this is referring to an irrevocable trust? What is the distinction between putting the retirement account in the trust or setting the beneficiary of the retirement account to the trust? Maybe you are referring to an irrevocable trust when you state do not put retirement assets in trust? My understanding with a revocable living trust is no asset is actually in the trust, the trust is set to be the beneficiary. Is it recommended for a revocable living trust to have the beneficiary of the retirement assets go to the trust?

[@Itsme-jv4cd]

So if you list your child as a beneficiary on a 401k or IRA and not put that in the Trust will it have to go through probate?

[@cacinaz8802]

I have an single member (me) LLC that has a brokerage investment account. My wife is the primary beneficiary should I die. Should I make our AB trust the contingent beneficiary?

[@oldmanx1234]

really interested in this but the background music muffles everything.

[@kim.in.nature.]

Can Nursing homes or long term care facilities come after a trust owned by an adult child, that their parent is in?

[@Aortadetroit]

absolutely unless an irrevocable trust.

[@chemistrypodcasts]

Wait. I'm confused. How does having the joint account remain outside of the trust protect it? Let's say I have a car accident and it's my fault. The plaintiff's attorney comes after the joint account whether it's in the trust or outside of the trust. What am I missing?

[@thuyyuen2897]

Should rental properties be In trust? Or in an LLC and that LLC in trust?

[@clamk77]

I have the same question. I hope he will address it.

[@mariatorres9789]

Depends. Is that rental in CA? I think LLC are exempt from that new AB1482 law?

[@jiayufu6082]

Investment account has beneficiaries.

[@smolville]

What if the trust company pays the car or house insurance for the heir?

[@andrewlayton9760]

If so structured, the Trust can pay ordinary expenses for the beneficiary. Typically, the Trust generates income and distributes that to the beneficiaries.

[@smolville]

Count Olaf trust company

[@johng4093]

Can you put the background music in a trust and designate someone you don't like as the beneficiary?

[@susandermond9254]

😂

[@randymuller8728]

What if the trust firm goes out of business

[@poochicuddle]

Heyyy. ​ @legacyplanninglawgroup5897 Please address our asset protection option(s) for 1st scenario 3:01 to 3:21 ;both spouses live. Thanks.

[@donc2018]

Good video, thank you. Why (at around 3:30 time stamp) would it not be protective to put the joint bank account inside the trust while both spouses are alive?

[@Freekygrandma]

Because bank accounts have designated beneficiaries that are accessible upon death of a spouse or joint account holder. So does IRAs and 401Ks. The more you put in a trust the more expensive the legal fees are. The house(s) can also be left out by using a Lady Bird Deed or a Transfer on Death Deed. Only 5 states allow LBD and the rest allow TODD.

[@davidd5712]

Last time I checked money is an asset

[@danny1682]

Hello Bill, is it possible to give each child money to invest which I would leave to the child upon my death ? Also do their spouses have a right to claim half the money in case of a Divorce. Single parent.

[@victoriaquezada]

If the bank accounts have beneficiaries , the bank accounts do not have to be put into a trust--- correct?

[@mettamorph4523]

POD or TOD do not need to be in a trust.

[@ginger6582]

Some attorneys want to force you to put things in your trust. I wanted my house in a trust. The attorney wants all your asset information which is not necessary. Bank accounts can have POD 's on them. Still keeps them from going into probate.

[@breal7277]

I have no real estate, I have a CD account (along with savings and checking). The CD account has a POD, does that mean that I don't need a living trust? for that? I also have stock, do I need a living trust for that?

[@Dbb27]

My ex used a POD for his bank accounts. It wasn’t seamless. My sons made an appointment and just walked in to the bank with his death certificate. Walked out with a check.

[@ginger6582]

@@breal7277 Where I live the CD only needs the death certificate and identification. Some states may vary. Don't know about the stocks.

[@keningilbert]

You never stated how to protect your car if not in trust and you are sued? It’s my understanding that there’s a huge difference between a revocable an irrevocable trust, so why didn’t you mention them? For instance, I was told that the only way to keep a retirement type of home from your assets is an irrevocable trust.

[@danacarlson5730]

Assets to not put in the trust

[@danacarlson5730]

Ooops. Sorry.

[@jeanettebonf631]

I’m looking for a lawyer

[@renesteitz8613]

If someone dies and theyre married but have some credit card debt, is there any way they can make the spouse pay for this debt, even if they're not on the cards? Asking for a friend.

[@Ghostdogsurvivalist]

Yes. There are lots of variables but the creditors are entitled to seek satisfaction from the estate of the deceased. It could also be no, if the deceased had no discernible assets.

[@Den-nu6pv]

Of shore trust is the only way to keep a trust safe from someone trying to sue you.

[@RG-hf4et]

The music is distracting.

[@Cat-hk4de]

Please redo this video without the music!

[@jiayufu6082]

Bank account has beneficiaries!

[@Dbb27]

Only if you set them up.

[@roslynhancock1652]

music is too intrusive and unnecessary. I made a print-out of advice .

[@patriciajump9511]

I can't listen. Can you remove the music?

[@richricogranada9647]

My 83 yo serious date, with adult children, is selling his house to move into my house, and I’m in my mid 60’s with no children. How can I protect my house from his offsprings in when he passes away?

[@legacyplanninglawgroup5897]

The best way to ensure his wishes are carried out is to have him visit an estate planning attorney and have his desires cemented in a trust. That being said, it isn't immediately clear why his children would have any claim over your home.

[@kevinhoffman8214]

they would only have a claim if your married or his name is on the deed

[@priestesslucy3299]

​@@kevinhoffman8214common law marriage is a thing

[@mettamorph4523]

What about the common law marriage states?

[@notmeee7302]

So I guess it would have been good if you told us what actually goes into a trust if none of the valuable assets we have going to the trust. And if you don't put your trust in your actual name. Those assets are protected from being sued

[@angelaasadi9283]

Stop the music! It’s makes it difficult to listen.

[@user-be7er9px2r]

I can't hear you over the sound of the music so I left 1 minute in

[@janeelmer3299]

Your information is great, However, consider eliminating the music in the background. It does not add to your presentation--in fact in detracts from it.

[@marik08]

background music is distracting. There should be no music accompanying instructional videos.

[@thatguy8005]

Or… the Trustee can take the money

[@Islandgirl671]

Great info but PLS cut the Music out! So unnecessary here!

[@nidasalvador9705]

Sorry pls pls can u help me to get my assets .i dont diclaimer 80 percent They do make am disclaimer80 percent

[@danielclayton7524]

I already know what assets to exclude. First all the kids. All they do is fight . Never outgrow sibling rivalry. 2nd all wives , present an past, no explanation necessary. 3rd. Choose a religious loving family from a 3rd. World nation. DOM. REP. COMES TO MIND an buy them a property an build a casa on it.

[@thepassportlife]

Hi Daniel, I would luv to build a house in Jamaica and take care of kids in the government children homes.

[@fecconway378]

🤣

[@alanpadgett3213]

Music is a HUGE distraction

[@terrydarling4520]

stop the music

[@franksisco5988]

Music on while talking is distracting

[@kurtlent3689]

The assets you want this or other attorneys will steal from you.

[@joeynyc1000]

How about my gun collection

[@edmor1086]

Music is annoying.

[@jonathanhantke6314]

The background noise is irritating and distracting.

[@tommybotts]

Lose the music for future postings, please.

[@user-hu9di7mv7x]

Ditch the music