Lou will discuss probate, land trust, and inheritance tax.
Question: If my house is in the land trust and it’s worth $600K and I pay away how much inheritance tax does my beneficiaries have to pay?
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For more valuable information click on this link and watch the complete episode: https://youtu.be/krgxwW2XmBg – “How to Protect Your Wealth from Biden’s Inheritance Tax”
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* Money Making Secret #1: Getting Motivated Sellers to Call You! No more calling unmotivated sellers and getting rejected more times than a geek for the high school prom!
I’ll show you how for over 28 years, I’ve been able to get deals brought to me and motivated sellers hunting me down to give me their house.
* Money Making Secret #2: The Art of Structuring Deals! I’ve been doing this for 40 years and I love to share how I get sellers to give me the house, a check, and even a jet ski or two.
* Money Making Secret #3: Negotiating Secrets Revealed! I love to negotiate, just ask Matt, one of my hand-picked coaches. We recently went to an estate sale and he witnessed me structuring a deal to buy the house and contents right there on the spot.
* Money Making Secret #4: Trusts Simplified! A little confused on this entire Trust thing? Why to do it? How to do “Subject-To” safely? I’m going to show you my new fundamentals of Trusts training that will simplify the concept of Trusts, so a 9-year-old child can understand it.
* Money Making Secret #5: Develop a Plan for Success in Real Estate. The wealthiest man ever to walk the earth left clues for us on how he amassed his great wealth and kept it.
How to Help People While Helping Yourself – Become a Certified Affordable Housing Provider™
Create Your 10 Million Dollar Retirement Plan – specific formula revealed
Learn Hidden Profits Available in ANY Deal – worth thousand$
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How to Have the Seller PAY YOU to Buy Their Home – no kidding!
Buying Without Bank Loans – over forty years and never one bank loan!!
Easy Ways to LEGALLY Raise Big Money for Your Deals
Renovations – Quick Ways to Safely Make Huge Cash Now
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Accelerating Your Cash Flow – Add built-in “Profit Centers” – extra hundred$ per month
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How to Protect Your Deal from Someone Else Stealing it
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Having Tenants Leave Your Property in Better Condition than When You Gave It to Them
Why Land and Personal Property Trusts are the Best Privacy and Asset Protection
Benefits of Trusts You Cannot Get With ANY Other Entity
The Due-on-Sale Clause – What it is and How to Avoid it Legally
And MUCH More
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Scott Paton (50:55):
Excellent. So we have one last question we’re just running out of time and make sure by the way you join us every Wednesday at one o’clock, 1:05 Eastern we go live in Technicolor, same bat channel, same bat time, and Mary Ann, you get the honor of the last question.
If my house is in a land trust, and it’s worth 600,000 and I pass away, how much Inheritance Taxes my beneficiaries have to pay?
Under current laws, none. And that’s the federal level. It’s also subject to State Taxes. Now, different States have different rules for what the state charges on. And like I said earlier, there could be Inheritance Tax. There could be a State Tax. So, depending upon which state you’re in, there could actually be a double tax at the state level. But at the federal level, under current laws, there is no Inheritance Tax.
Now, there would be probate, right?
There would be probate. So the good news is, if you have your property in trust, as you suggested, then that would avoid probate. That would avoid probate because you already decided who’s going to get it. So therefore, you don’t need any courts, any judges, any attorneys, any delays or an expense you’ve already set up your trust. You’ve already said, who’s going to get it. And therefore, the operation of probate, the delay, the expense that’s eliminated because you are smart enough to learn about trust.