Why Every American Needs A Trust in 2023

preview_player
Показать описание

Call the MJK Team: 208-745-2865

#Taxes #avoidtaxes #paylesstaxes #wealth #tax #realestateinvestment

If you liked the video, please give it a "Thumbs up!" and please subscribe to see more!
Рекомендации по теме
Комментарии
Автор

Hello, I am due for retirement in two years, I'm a senior citizen but I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $50K per year but nothing to show for it yet.

alexsteven.m
Автор

Just hit $216k in my emergency fund, now I'm ready to dive into investments.

NotyourBusiness-urto
Автор

Recently bought some recommended stocks and now they are just penny stocks. There seems to be more negative portfolios in the last 3rd half of 2023 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?

Lemariecooper
Автор

With a good investment plan that ensures steady incomes without any doubts I am prepared for a well organized retirement. I started investing 3 years ago and so far, I am making a good yield on my dividend. Good info.

Pambegay
Автор

My Dad left me a trust as a retirement fund. The only way he could do it is by putting another relative in charge of it, (who did it for free) or the lawyers would have used up all the money long before I retired. Next problem, I see, the highest tax rate there is. I never made enough money to put me into the tax bracket that my trust was in. I think the >30% tax bracket kicked in at around $10k of income!!.

pathfollower
Автор

Being the oldest (and most responsible) child, I was the trustee of my parent's trust. This was not acceptable to my miserable, self-absorbed sister, who accused me of fraud and elder-abuse. 5 years later, the assets were distributed as I would have done, equally among the children. Only I was stuck with $100k in legal fees. Even a trust cannot protect you from miscreant siblings or other family members who are willing to destroy the family for a buck.

reason
Автор

These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.

tonysilke
Автор

Thank you for giving us this advice for FREE!!! Omg years ago you would have to pay a financial advisor to give you this advice and still not as detailed. Thank you! Im 42 and i think about this all the time bc none if my family is going to "handle" anything i worked hard to attain. We all know the vultures in the family 😂.

tashaw
Автор

My father, dec. 88 yrs old, ret. Col, us army, was super smart. He put my name on the checking, and money market accounts, made me successor trustee as well as his legal signer and caregiver even tho he was not bedridden or wheelchair bound. Then, when he passed, everyone who wanted their checks had to sign away their rights! A waver stating they cannot challenge he will or he trust!! Yay!!

AmandathePandaBooks
Автор

I watch several YouTube videos on how to trade in the stock market but haven't made any head start because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands

MaryOlson
Автор

My dad had a revolkable trust. I was trustee. His wife, not my mom, took me through the court system with it. She didn't think she got enough. Even though trust stated if anyone takes it to court they get nothing. The corrupt courts put a judgement against me. I ended up doing jail time for not honoring the courts. I honored the trust. They still have a judgement against me including many years of interest. Info the trust was finale and stated so in the filed taxes before the judgement came out. How is this even possible??? My dad died in 2004 and the cops and courts continue to attack me. I refuse to consent to anything the broke system wants.

jinnidog
Автор

This was so easy to understand and I feel like this is one of the financial road maps I should have been taught in high school. Thanks for sharing this!

erikbudrow
Автор

Something not mentioned is what’s the average cost to setup and maintain a trust? This information should be in the video

DerekEvan
Автор

Garn-St Germain Depository Institutions Act of 1982 (12 US Code, Section 1701j-3) is what allows you to put your home into your trust without triggering the due on sale clause, not state or county exemptions. Otherwise, solid info.

bobpadrick
Автор

The best thing about a trust, it makes the lawyer lots of money! POD, TOD, wills and simple trust will do.

rgarri
Автор

There is cost and some inconvenience with a trust. Is there a net worth where you think it becomes more valuable than hassel?

jefflloyd
Автор

Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 17k in last month 2024.

larkins-xcuv
Автор

We don’t have a mortgage, husband is now retired and wants to travel. We don’t splurge or anything like that. Inflation has hit hard and we want to relocate while growing his 401k which is minus 2 M atm. I'm cautious than ever with rising costs. What is your opinion? Happy to discuss.

AanyaDarika_
Автор

A friend faced a similar situation some years ago, even falling behind on taxes. I recall he entered the market with around $70k, and I was astonished at how his profits surged. Do you think it's a favorable time to invest?

ClementRusso
Автор

Mark, I hope you reply back: a revokable living trust doesn't help with using all your assest up before Medicaid and the state helps kicks in. You don't mention that here. And you say, if someone talks about an irrevokable Trust - come see you --- in my opinion you need the irrevokable trust set up to avoid everything being taken by the nursing home before you are taken to the poverty line to get Medicaid and state help. You have nothing then for your heirs . And in NY, it is a 5 year look back on Medicaid. Please respond back - I got what you are saying, but if you can change it (revocable), then they (state, Medicaid) will make you used it up until there is nothing left . They cannot touch an irrevokable trust created by 5 years before needing to apply for Medicaid.

nicholasrunowich