5 Assets That SHOULD Never Go Into A Living Trust

In this video, I'm breaking down the types of assets you should NOT put into your living trust and why.

While many videos discuss how to fund your trust, few address which assets should stay out of it.

💰 Let's discuss annuities, IRAs, and 401(k)s. These assets are essentially trust agreements themselves and should remain outside of your living trust. Attempting to transfer them into your trust could trigger unintended tax consequences or jeopardize their special tax treatment.

By understanding which assets belong in your trust and which don't, you can ensure your estate planning strategy is both effective and efficient.

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Show Notes:
0:00 Intro
0:32 Vehicles
3:01 Annuities, IRAs & 401(k)
5:48 Life Insurance
7:10 Outro
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ABOUT CLINT COONS

Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.

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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

#legacyplanning #estateplanning #livingtrust #assetprotection

[lucyv]

1. Vehicle
2. Annuity (Ira, 401k, etc.)
3. Life insurance

[alangalermo]

Make copies of your house keys or properties and give it to your beneficiaries that you picked. Let them take everything that belongs to your family when you and your spouse passed away. They don't need to know what you owned, it would be less headaches and will saves the beneficiaries tons of money. You can still have a living trust for the house be smart you worked hard for your stuff, keep it to your family. That is my own opinion and good luck.

[kauaikit]

Personally… on vehicles, I change the titles to add a T.O.D.’s (transfer on death). Simple & does not require signature of beneficiary. 😅

[taniahummelgard]

Can’t emphasize enough how important this is.

[melangreathouse]

Clint, this was absolutely stellar advice. And you’re right! Few financial advisors are talking about this. Thank You!!!

[Starfish]

In Arizona, you can file get a form from the DMV that immediately transfers the vehicle to your beneficiary upon your death. Attach that form to the title and keep it in your safe deposit box.

[organizer]

Really great points! Very useful to know! Thank you so much for your valuable education!!!

[terryparish]

Your spot on with the annuity and vehicles great information!

[HB-yqgy]

We live in NJ probate is very fast and efficient here some estate planning lawyers offer free dinners and fearmonger probate and taxes.
After more research, we found out the opposite. This was after spending $2500 for a living trust that was complicated 30 pages. The attorney's name/firm was on almost every page. So we opted for a simple "The disclaimer trust in my last will and testament"

[robertkerby]

Great advice, especially since my wife and I are having a living Trust set up on our behalfs.

[sweetsuccesstrading]

I Just found your YouTube channel with searching for asset protection.
The First one I saw before this, was one from 3 years ago, with putting your Vehicle in a Trust to protect it from Judgments, etc.

[jeanettecook]

It's no joke to us.... we have mules, and a trust! Nice video, thank you. 🎉

[RosieBaseball]

The car was a key takeaway for me. Thank you for the advice.

[alanaldpal]

Good video and advice; However, I suspect the number 1 thing is to know the laws in your state

[kamakaziozzie]

Thank you for the info 🙏
My wife and I own three properties and finally realized we probably need a Trust🙄 This was a good primer before we go to a lawyer

[factchecker]

In Nevada, you can file a Transfer Upon Death to avoid probate. Thecsame goes forcyour vehicles. Add beneficiaries to all of your bank and retirement accounts and you will avoid probate without a costly trust.

[billrook]

A much simpler way to transfer vehicles, upon your death, is to list their name on the title's owner line as a "TOD" (Transfer On Death) addition. Your license office can change this for you. If you're buying a new or used vehicle, do this at that time, and save your survivors a hassle.

[kaythegardener]

Things to keep outside the trust -- depends if you have a spouse or adult children or minor grandchildren
1) titled vehicles, eg autos, boats, etc, passes on death to beneficiary with death certificate outside of probate;
2, 3, 4) annuity types of accounts -- eg IRAs, 401ks, normal annuities, with trust as beneficiary or beneficiary of IRAs & 401ks. Look at specific provisions with a tax advisor!!
5) life insurance -- passes outside of probate directly to the beneficiaries;

[kimberlindy]

Our X-attorney had us chasing our tails when we tried to put a new car in our living trust at the dealership who was like what in the what?!? We just met with a new local atty last week who said you don't do that and gave the same reasons you did. Shelled out so much $$ on wrong and bad advise from our X-lawwyer and honestly have heard so much wrong and bad advise from other well credentialed experts I trust no one now no matter what their credentials or how confident they are and its exhausting.

[susan]

I live in Washington; when my dad and years later my brother died, their vehicles were easily transferred to others, relatives or not