How to Protect Your Wealth from Biden’s Inheritance Tax | Lou Brown

https://millionairejumpstart.com/

In this video, Lou Brown and Scott Paton talk about taxes. In previous episodes, Lou already touched upon capital gains taxes and the impact they may bring. Now, there is another tax that would probably affect your descendants for many generations if you do not take action now.

It’s called the Inheritance Tax.

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References:

Joe Biden’s 61 Percent Tax On Wealth: https://taxfoundation.org/joe-biden-estate-tax-wealth-tax/

Biden Tax Rule Would Rip Billions From Big Fortunes at Death:

https://www.bloomberg.com/news/articles/2021-05-04/biden-tax-rule-would-rip-billions-from-biggest-fortunes-at-death

Timestamps:

0:12 – Introduction – “ What’s Going On in the Real Estate World?”

1:32 – Inheritance Tax – the real thing

3:21 – Joe Biden’s 61 Percent Tax On Wealth

13:00 – The Parentheses States (Outskirts of America) vs. the Central States

15:17 – Biden Tax Rule Would Rip Billions From Big Fortunes at Death

21:27 – Knowledge is Power and Money

24:12 – How Can You Protect Your Wealth?

29:01https://www.maximumassetshield.com/EliteTrust/

Viewer’s comments & questions for Lou

32:22 – Does any of these taxes apply to my estate if I have an Elite Trust?

36:11 – Do you have the seller put their property in a trust then do the closing when I have a buyer or is it all done at the same time at closing?

37:12 – If I put my house in a Land Trust and I pass away my kids will still have to pay inheritance taxes?

38:20 – Can I place a property into a land trust if it’s already in the elite trust?

39:19 – Can I start my business as a trust rather than an LLC?

40:22 – Can I still lease option from the elite trust?

42:15 – Is vol 4 & 5 different from the elite trust course?

43:28 – From my former question about sellers putting their property into a land trust first and I find a buyer. My question is can it all be done at the same time at closing with an R Estate Attorney?

44:24 – If a seller is adamant about working with a listing agent, what would be your recommended approach to this situation?

47:24 – Is there a place in the Street Smart paperwork that indicates what the listing agent’s commission will be?

48:59 – Would you trust a closing company to write the trust if they insist their paperwork must be used?

51:12 – If my house is in a Land Trust and it’s worth $600K and I pass away, how much inheritance tax does my beneficiaries have to pay?

52:44 – Lou’s closing message.

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Listen to our Podcast:

https://streetsmart.mypodcastworld.com/11126/how-to-protect-your-wealth-from-bidens-inheritance-tax