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Hi! It’s Lou Brown. I’m back with another answer. How many trusts can I have? Well, the answer is, as many as you want. You could have one trust and in that trust could be everything you own. Now that could present a problem because you’ve put all of your eggs in one basket. Now, my favorite trust, that’s called the Land Trusts. The Land Trusts allows you to name the trust anything you choose. And because it’s so easy to establish and so easy to create and so easy to operate as well, then it makes a lot of sense to take each asset and put it in it’s own trust. Now, Land Trusts is for real estate. So let’s say you had 10 properties. You’d put each property in its own trust. Now there’s another companion to the Land Trust and that is the Personal Property Trusts.
So Personal Property Trusts is for everything else in your life. Stocks, bonds, mutual funds, bank accounts, CDs, Cdos, mobile homes, motor homes, gun collections, coin collections, literally everything else in your life that’s not real estate can go into a Personal Property Trusts. Or again, you can have individual trust for each asset. You could also have separate beneficiaries of each asset. So therefore you would be dividing your estate during your lifetime. So because of the fact that you’ve divided your estate, and you’ve said who you want your successor beneficiary to be, you would be the primary beneficiary. And then they would be the successor beneficiary. Literally the assets would be passing to the respective heirs without them having to have a conversation about it after your death. So that’s a marvelous way that you can eliminate family squabbles and challenges after you pass away.
Well, hopefully this has been helpful to you. I do have a four day event. It’s called MaximumAssetShield.com and you’re able to go and find out more about that four day live training, where we’re in class together. You actually bring a deed with you to class, and we actually do everything necessary to transfer your properties, your assets into trust. So certainly something that would be entertaining for you and very beneficial financially to be able to do as well. Now, also there’s a home study course. You can find out more about that at MaximumAssetShield.com. Hope to see you soon. Yeah, baby!