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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!
How Many Discretionary Trusts Can I Have?
The best kind of discretion you can have, you want to be able to have control over those various assets using this thing called land trust and personal property trust.
Continue Reading How Many Discretionary Trusts Can I Have #17
How Long can Trusts Last?
That’s an interesting question because it depends on where you establish your trust at. Various states do various things. But most states do a 20-year contract.
How Do Trusts Work?
This is a great question!
One of the great things about trust is that you can set it up that your assets are protected.
How Do Family Trusts Work?
It is important for you to be aware that there are many different ways that trust can be viewed and there are many different benefits from different trusts.
You have to start with what you are trying to accomplish.
How Can Trusts Be Used In Estate Planning?
This is the best thing on the planet!
There’s so much benefit that so many people do not know even attorneys and CPAs.
The secrets are hidden out in the open and is available for everyone.
I’m here to teach you the right way in estate planning.
Continue Reading How Can Trusts Be Used In Estate Planning #13
How Are Trusts Taxed?
The answer is it really depends on what type of trust it is.
I discuss different situations on how taxes are done and be saved on trust.
How Are Trusts Recorded?
This is a very interesting question because you can record the entire trust for the public to see.
But one of the best and greatest benefits of the trust is the privacy of ownership.
How Are Irrevocable Trusts Taxed?
This is an interesting question because it is an irrevocable trust, this is a complex trust.
Basically, it has to file its own tax returns.
Do Unit Trusts Work?
Well, it’s interesting that I’ve been in this game of using trust since about 1983.
In all this time, this is one of the things that never comes up.
One thing to know is that there are about 30 different types of trust out there.
You have to be clear in what you are trying to accomplish.
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