Hi! It’s Lou Brown. With another of my amazing 101 ways for real estate investors like you to win, close more deals, and accelerate your cash flow. Today’s tip number 47. Have your estate avoid probate using trusts. Now, if you’ve ever had an experience in your family where someone passed away and somebody was left with the burden and the responsibility of having to go through probate, it’s the process by which the court system, the local court system, and the county in which any kind of property is located, the court system has to determine who the rightful heirs are. And who is supposed to get those assets or the income from those assets? And who’s supposed to pay the bills. Well, all of this is determined in the court system. Now that can cost money. It can be a huge delay and it can be confounding, confusing. It can break up families because it’s the process and all the family members are not aware of what’s going on.
My strong recommendation, my suggestion to you is do not to hold property in your own name. Hold property in this wonderful, incredible entity that God created called trusts. This came over on the Mayflower. It’s been around a lot longer than LLCs, corporations, and limited partnerships. And one of the great things is that because you have the trust. Because the property is already in trust, you’ve already determined who the beneficiaries are, then there’s no reason for probate. And in fact, trust is the only thing that avoids probate. So doesn’t it make sense to avoid the costs, the delay, the aggravation, and the need for an attorney? It can all be eliminated simply by planning your estate. Now putting each asset into its own trust, determining who the beneficiaries are, doing all the paperwork now instead of later, and with the process of probate, many things can go wrong, and certainly, there can be a huge expense that you could avoid.
So my suggestion to you is to learn the magic of trust. You can do that by simply going to my website, StreetSmartInvestor.com, and on tools. Learn about it right there and if you want a live training on it, if you’d like to go to a four-day event, go to MaximumAssetShield.com, and there you’ll find a lot of information.
So I hope that this has been valuable to you. It certainly has been valuable to me in my life and I’m so glad I discovered this marvelous, incredible thing called trust. I hope you will use this. I hope you will profit from it. I love to share these profitable free tips with you. I’m a teacher at heart. How can you get more? Well, depending on when you’re seeing this and where you’re seeing this. Please like it. Love it. Comment on it. And subscribe. And share this with your network too. Thank you so much for watching and I hope to see you soon. Yeah, baby!
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