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Trusts 101 – Estate Planning With Trusts

Trusts 101 – Estate Planning With Trusts

Learn the basics about trusts and how they are used in estate planning. What is a trust? What type of trust do you need? Watch and learn here.
NOTE: NOT LEGAL ADVICE! For informational purposes only. Contact our office at (248)278-1511 if you would like legal advice specific to your situation.

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24 Comments - Leave a Comment
  • Paul Harvey Jr. -

    Hi, I am Advisor in need of a GREAT yet to the point and fun Estate planning presentation that keeps the clients engaged (not yawning) for clients that could also be used for attracting CPA's. All suggestions would be GREATLY appreciated!!

  • Montery12 -

    I understand that "funding the trust" is important as beneficiaries would gain from it. I do not understand why would a home that is worth 500,000 would not be an asset listed in a trust. Please explain.

  • Claudia Clau -

    hello
    your video is very interesting and easy to understand the initial process of a trust.
    I have a couple question if you could clarify, my appreciation in advance.
    1. I read that in a Irrevocable living trust changes are not allowed. Is that true? So, if I have a property in this kind of trust, I can not sell the property or make any change to it? what kind of restrictions are included in this kind of trust?
    2. If husband and wife do a trust can they be the trustee of each other in a revocable or irrevocable living trust? Can one be the beneficiary of the other?

  • jvolstad -

    I have most of my CD's set up with a payable on death clause. The cash is going to a charity I support. I do have some money set aside for my brothers. I also have a corporate executor through my bank.

    Speaking of trusts, I am a co-trustee for my Mom's Estate. Unfortunately, the distribution is not going smoothly. One beneficiary is upset about the amount of money that she is receiving, another beneficiary has his money in a spendthrift trust where he only receives so much per month.

  • PRIVATE EYE -

    I HOPE YOU ALL HAVE SOMETHING IN WRITING WITNESSED AND SIGNED WITH A NOTARY SEAL WITH AN AFFIDAVIT OR A IRREVOCABLE TRUST OF SOME KIND. SOMETHINGS ARE AWEFUL IN THE LAW. PROBATE IS A VERY AND EXTREMELY NASTY AND THEY WILL NOT HELP YOU AT ALL. THEY ARE GREEDY BASTARDS. YOUR BETTER OFF NOT MAKING A WILL EITHER.

  • filipina santos -

    me and my dad own a house 1/3 for him and 2/3 for me thats the partition on the dead or the tittle owner, he make an revocable living trust, he make my brother and sisters as his beneficiaries im not mention or included on his trust, now can i refinance the property for renovations?

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