"Don't let the state decide what happens to you or your children."
"You choose who raises your kids; you choose who gets your useless crap after you're gone."
"Everyone needs a will and everyone needs a plan. If you're going to die this year, what happens to your family?"
"78% of Americans die without a will. That's just stupid. It's not expensive and it doesn't take a long time. There's no excuse not to have one."
"Generational wealth means to me... teaching you how to set up real estate and the ultimate goal is for me to get you to understand the power of a living trust."
"What if you created a system where money never gets passed down to a person, but to an entity that is being told what to do?"
"Creating a will is one of the most important things you can do to ensure that your belongings and your loved ones are taken care of after you pass away."
"There's zero correlation between filling out a will and dying soon."
"If you want to avoid probate, then I urge you to consider creating a living trust."
"Speak with your estate planner because there are tax benefits too. You can grow your estate while letting your love for animals live well into the future."
"You need to protect your legacy, finances, and children with a will."
"Every single entrepreneur should have a trust absolutely because it's just a means to pass something off to your beneficiaries."
"Despite the turmoil swirling in his mind, Walter ultimately decided to leave his estate to Donna."
"Make sure you've got a will, make sure you talk to your family about your will."
"If Betsy wanted her daughters to have the money... she would have made them the insurance policy beneficiaries."
"We may never see this, but somebody in the future will inherit a huge beautiful place." - Deep South Homestead
"No one here gets out alive. That's why you've got to take care of your affairs."
"A will is not about you... it's about your loved ones."
"Make those decisions now so that they don't have to face them later without you."
"Just imagine how much different Rachel's world would be right now if there wasn't $15,000 in her mom's account, but instead there was a healthcare power of attorney and there was $250,000 sitting in a 401k."
"When we're sitting down and we're having these conversations, I'm talking to you and our advisors are talking to you about what do you want your money to do when you're gone, who to whom do you want to bequeath the money to."
"Having a will can ensure that your wishes are carried out after you pass away and may provide peace of mind for both you and your loved ones."
"Get a freaking will and tell everybody about it that is in it or not in it so they don't have to fight about it later."
"The Estate Tax says that when you die, you can't take all of it with you."
"Life happens and it's important to be prepared because if you pass away and you don't have a will in place, the state gets to decide what happens to all of your assets."
"Pay attention to estate planning and have those big discussions with loved ones."
"That's estate planning. The best way to think about that is legacy planning how are you going to pass on all the stuff that you got to the people who you love when you're gone that's estate planning."
"So, if you're structured correctly with those two moves, you can totally get rid of all estate planning taxes and probate taxes."
"We want to make sure that that document is still good because if you come into Florida and there's an issue and you don't have that power of attorney and you become incapacitated, it's too late."
"Proper estate planning can minimize gift taxes, inheritance taxes as well as estate taxes."
"Of the three, doing nothing, will or living trust, I'm always gonna side with the living trust."
"You can create a legacy with a living trust just as easy as anything else."
"It's almost always gonna be less expensive to do the trust and to not have the probate versus doing the probate if I do just a simple will."
"Dying and passing on real estate to your loved ones - it's a great strategy."
"Welcome ladies and gentlemen, welcome to the top 10 estate planning mistakes and most importantly how to avoid them."
"Every single one of you in this room needs an advanced directive, a durable power of attorney for health care, a living revocable trust, and a will."
"A living trust helps avoid probate, saving time and money."
"Trusts ensure seamless asset distribution according to your wishes."
"Avoiding probate is one reason people set up trusts."
"Trusts offer privacy and flexibility."
"A will is flexible and allows you to designate beneficiaries for assets."
"Regular plan reviews are essential for both trusts and wills."
"Coordinate your trust and will to ensure they work together seamlessly."
"Yes, you need a will if you already have a living trust."
"Trust funds wield substantial clout as strategic instruments in financial planning, acting as stalwart guardians in the realm of estate planning and wealth preservation. Their allure lies in their myriad advantages from tax efficiencies to astute risk management, making them..."
"I'm not a big fan of having your heirs be the trustees, especially if they're beneficiaries."
"By leaving things to what I call that children's inheritance trust you're keeping things making it divorce proof for your children."
"An estimated one million dogs in the United States have been named the primary beneficiary on their owner's will."
"Estate planning is not just about your stuff, it's about the unforeseeable."
"So, you're going to want to have a will or trust and those documents that we talked about, but a lot of people don't have it."
"Ease of acquisition, control during your lifetime, passing them on when you die."
"So, when you look at estate planning, you need to have a proper plan in place, okay? So make sure you sit down with your financial planner, put this plan in place to make sure that you're saving taxes."
"You wouldn't want to necessarily name your children as successor trustees of your estate for that reason."
"...that living trust avoids probate. That's the best reason to do this, and that is to avoid probate."
"...no probate, all of this takes place in your or whoever's controlling your estate, in their office, in their house. You don't need to bring in any type of legal representation."
"...the importance of putting together a plan that ensures that the assets that you are creating now, that they're going to be passed on to your beneficiaries when you're no longer here."
"You want to have a will or trust."
"Understanding what that's projected to look like because if it's going to continue growing you very may well not have an estate liability or state tax liability today but you may be projected to have one in the future."
"...your heirs can inherit your estate without facing additional taxes..."
"Grow the part of the estate that you want to leave as a legacy and assign those assets so that it's not exposed to 40 percent inheritance tax."
"There are five common scenarios for using a holding company: asset protection, claiming the lifetime capital gains exemption, tax savings, tax deferral, and estate planning."
"Scenario number five: estate planning. Holding companies can be used to smooth out the transition of company ownership from one generation to the next."
"And so that's why when you come to thinking about setting up an estate plan, I would highly encourage you to create a living trust."
"What does a living trust do? It takes all of these assets right here and it puts them into a box."
"That gives us a sense of peace of mind, knowing that we've put together an estate plan that not only takes care of the people that we want to take care of after we've passed away, the people that we love, but also have some should happen to me and I'm not God."
"A revocable living trust is a written document that determines how your assets will be dealt with after you die, whom they'll go to. It keeps your assets out of probate, a court-supervised process that can be both lengthy and costly for your loved ones after you pass away."
"These are the reasons why testamentary trusts are my favourite tool and why I think they’re so powerful for estate planning."
"If you have a revocable living trust, watch this now."
"Considering who your trustee is, is probably one of the most important aspects of your living trusts."
"Making an estate plan now means gaining security of your assets and peace of mind for you and your loved ones."
"I've told my children that the majority of our estate will go to charity."
"Protects your loved ones with comprehensive estate planning."
"Make sure you've done some planning when it comes to leaving this world and leaving your loved ones the way you want to leave them."
"The main point of a will is to document what you would like to happen to your assets when you are gone."
"And if you don't draft a will and you die, what happens? Your estate will devolve intestate."
"With estate planning, you work with a professional to figure out basically the best way to put your affairs in order so you pay the least amount of taxes."
"Funding a trust means transferring the title of assets that you own from your name to the trust."
"Married couples can't have joint wills, but when it comes to trust, a husband and wife together can make a joint trust."
"Create your trust, fund your trust, and then maintain your trust."
"The trust replaces the will; the trust governs all of the assets that are titled in the name of the trust."
"The most important living trust bypasses probate, preserves your estate, and allows you to control it after you've passed on."
"When the first spouse passes away, the survivor has it all, and then when the survivor passes away, then the assets will be distributed down to your beneficiaries."
"If you die with a will, you're dying testate."
"If you have any interest in what happens to your assets, your belongings if you suddenly die, you should have an estate plan."
"Do I need a trust?" is one of the most commonly asked questions in estate planning.
"Trust is not a corporation; it's more like a box where you place rules on when items can be taken out."
"A will is easy to set up and often inexpensive, but it likely has to be probated."
"A trust can do most of the pros listed between the two tools while avoiding most of the cons."
"Trusts are useful for controlling assets and ensuring that your wishes are carried out."
"Consider the asset size, control, age, and additional planning needs before establishing a trust."
"One of the best gifts you can give your heirs is a well thought out estate plan that says, 'This is exactly what should happen; this is what I want to go where and who should receive it and how they should receive it.'"
"Estate planning is more than just passing on; it's about what occurs during your lifetime."
"Where the deceased is survived by one spouse, the spouse inherits the entire estate."
"The best way then to ensure a person for estate purposes is joint last to die policy."
"A ladybird deed... avoids the MERP recovery because upon your death the house automatically passes to your heir."
"You're not building generational wealth if you're not planning your estate."
"A will is effective upon death. A living trust is private and is effective during your life."
"Everybody could benefit from a living trust in some way because you have the health care provisions, you have the financial power of attorney as well during your lifetime."
"An estate plan wants to do these things: minimize taxes, possibly provide you control from beyond the grave, but also asset protection."
"A properly drafted will and the setup of a testamentary trust will effectively mean that money is controlled for the benefit of the child."
"Make a will. It's the greatest gift you can give your parents, your spouse, your kids."
"I've helped many thousands of people over the last few decades get their estate legal affairs in order."
"A living revocable trust is a way to manage assets, reduce probate costs upon death, and provide privacy for asset disposition."
"Revocable trusts are becoming increasingly common in the US as a substitute to minimize administrative costs associated with probate."
"Living trusts, as opposed to testamentary trusts, avoid probate."
"End-of-life planning and estate planning are different; end-of-life planning is critical because your last years of life can be the most expensive of your life."
"We're all going to die, and you want to be able to tell your assets what to do when you leave this Earth."
"The objective here is to make sure that in the event of your death or disability, to make sure that your stuff stays with your people."
"The main difference between a will and a living trust when it comes to planning is that a will has to go through probate, a living trust does not."
"This is the preferred method when it comes to planning for an estate."