Passing It On: Estate Planning for Families

Are you wondering if a home with a mortgage can be placed into a living trust? The answer is yes! In this video, I'll walk you through the step-by-step process of transferring your mortgaged home into a trust, explain how ownership is affected, and address the important details surrounding due-on-sale clauses. Whether it's your primary residence, vacation home, or rental property, understanding th...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com #onthisday it is important to find a trust, making sure we put things inside of the trust. without putting real estate, financial assets, and personal property inside of a trust either while you are alive or as a beneficiary when you pass away, the living trust has no power. ##EstatePlanning##LivingTrust##Fil...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Property Taxes Do NOT Go Up If You Put Your Home In A Trust

LEARN MORE: https://www.ocestateplanlawyer.com What happens to your assets if you pass away without any form of estate plan—no will, no trust, nothing? In this video, we delve into the complexities of dying without an estate plan, especially in California. We'll guide you through the legal process that unfolds when someone passes away without any plans in place. Whether you're married, single, or...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com retirement accounts cannot go inside of a trust while you are alive. Sometimes they can be inherited by a trust if the trust is a beneficiary of those accounts. #401(k) #Pension #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com rental property should often go inside of an LLC. As long as that LLC is completely owned by you, it can go inside of your revocable living trust. Most of my clients need a revocable trust because it retains control over all of your assets. And protects them from going through costly probate. #LLC #RentalProp...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Castillo in California it may not be a legal requirement to notarize a trust, it is always a good idea to do so. Try showing a trust to a bank and trying to open an account or start controlling an account made in the name of that trust. Trust our private documents and do not have to be filed with any governme...

LEARN MORE: https://www.ocestateplanlawyer.com Please comment with your estate planning question. I am usually able to respond with an answer and sometimes. . . even a video! FREE ESTATE PLANNING STRATEGY SESSION: https://calendly.com/mpevney/strategysession Email Us: michael@ocestateplanlawyer.com Call Us: (949) 377-2996 Estate planning is for EVERYBODY. Not just the very wealthy. I started this...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com the probate process is time-consuming and expensive, especially in California. Going through it is a real hassle and a slog avoided by setting up a complete estate plan often times with a living trust involved. #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty

LEARN MORE: https://www.ocestateplanlawyer.com Please comment with your estate planning question. I am usually able to respond with an answer and sometimes. . . even a video! FREE ESTATE PLANNING STRATEGY SESSION: https://calendly.com/mpevney/strategysession Email Us: michael@ocestateplanlawyer.com Call Us: (949) 377-2996 Estate planning is for EVERYBODY. Not just the very wealthy. I started this...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com a trust should not be handwritten. Yes, maybe that can be a legal document, but try taking that to a bank and opening a bank account in the name of of that trust. Make sure it is of course typed and made in conjunction with a qualified state, planning, lawyer. #EstatePlanning #LivingTrust #FillThatBucket #Pev...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Complete Estate Planning is more than just a will or a trust. There are a couple of documents that are important while you are still alive. A power of attorney document lets people take over your finances and an advance healthcare directive, sometimes known as a living will let people know what your end of li...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com by Poodledoo what happens when there are co-trustees that don't agree on what to happen with a piece of property? The simplest thing is always going to be to sell it, otherwise one is going to have to buy the other out, and there is always the option of severing, the lot in some way. #EstatePlanning #LivingTr...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com if you own property, you don't need permission from anybody to decide where it goes when you pass away, with a few exceptions. Children do not need to be told or consulted when you decide to put your own home inside of a trust. #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecoun...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com create custom scrub caps property taxes on California investment properties stay low by putting them into a revocable living trust. I can't necessarily speak for homes out of state, but in California, let's keep those property taxes, low #Propertytax #EstatePlanning #LivingTrust #FillThatBucket #Pevney #finan...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com #onthisday a business can go inside of a trust, just like a house can. It helps that business avoid probate. If most small businesses have to go through probate with without a proper estate plan, and that business inside of a trust, that business shrivel up and dies.

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com when an out-of-state home was owned by two people, and both of them have died, we have to figure out who passed away first and what would have happened with their share of the property, and then figure out what happens with the survivors share. Ultimately, it means going through the probate system in the stat...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com a trust can be funded years after it is set up. It is a matter of making sure that things are titled in the name of the trust properly and that there is a proper tax ID number, which is often your own Social Security number

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com T the right of survivorship with real estate means that the last person standing so to speak owns the home. Then they get to decide what happens with it after they die. #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Paul can an out-of-state home go inside of my trust? Yes. Trusts are recognized across state lines. I have plenty of clients that put their primary residence in California inside of their trust as well as a rental property in another state like Texas, Florida, Tennessee, or any other state.#EstatePlanning #Li...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com If you set up an estate plan while married and have since been divorced, it likely needs to be Chandler in full or in part. Do you want your ex making your healthcare decisions for you? In control of your money after you die? Probably not #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com #onthisday a trust control property that is inside of the trust. If we don't title that property in the name of the trust or make it a beneficiary of accounts when we pass away, the trust is completely powerless. #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Luna Chavez dad is on the deed to grandma's house, but dad passed away. What happened to the house now? The answer, probate. The court supervised government controlled and judge approved asset distribution system that happens after somebody passes away without in the state plan. #EstatePlanning #LivingTrust #...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com #onthisday can you buy out the other beneficiaries of a trust if they are named beneficiaries? Unfortunately, the answer is a lawyers answer. It depends. Often times though one beneficiary can buy another beneficiary when it comes to real estate. #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financial...

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Trucker most trust do not need any sort of a credit rating because they are not borrowing money. Most revocable living trust involve the credit worthiness of the people that set the trust up. #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty