What is a Living Trust and What are the Benefits? (Living Trust 101)

Comments · 2.6K

• TO

  @TobyMathis · 4 years ago (edited) · pinned

  Would you like to learn more about creating your living trust and avoid probate? Schedule a free consultation here: <a href="https://aba.link/7f2">https://aba.link/7f2</a>

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• NA

  @nancygreen8186 · 2 years ago

  After my dad died and my mom had a little Money. I told her mom go out and buy yourself some new furniture . Buy a nice washer and dryer. Go to bingo everyday if you want to. My mom scrimped and saved all her life because we were poor. When it was my birthday I honored my mother because she carried me for 9 months and gave me life. When she died I was devastated. She left a couple thousand dollars to me and I couldn&apos;t even spend it. I kept thinking about the time she could have used it when I was a little kid. But she did go out and treat herself to New furniture and did spend most of it. She had a stroke and I was there every day. I didn&apos;t even think about my job. I thought how many times she sacrificed for us. Please be good to your parents. They gave you life.

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• PI

  @pinschrunner · 4 years ago

  I live in Florida and see end of life greed from kids who swoop in like vultures after never helping with their parents in their elder years. &nbsp;Their greed is disgraceful

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• FA

  @FallonFace · 3 years ago

  My dad passed away last December. He mentioned he wanted to go get a living trust done, but unfortunately he got sick and passed away before he had a chance. We are still in probate court and it&apos;s been a nightmare, not to mention expensive! We have been paying on his house for almost a year and just received the right to sell it from the courts. Get it done sooner than later folks, my dad thought he had time but you never know!

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• DE

  @denniskalivoda · 1 year ago

  Young man, my wife and I have the living trust which our lawyer set us up with it. We have a house, CDS, and money in the stock market. We are now 82 and 83 and retired. We started putting money away when we were married 1963. Reason was I started it as I grew up in the early 40’s on a farm, things were really,really,really tough. Now we are well off and now started giving money to our daughter and two granddaughters.. Great presentation.

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• RE

  @rebelduck9077 · 3 years ago

  I am an only child and my parents have been advised by their lawyer to make sure they have a living trust and not just a will. My mom literally said to me: “we don’t want to put you through the nightmare of the courts”. Their lawyer is a knowledgeable person and Toby thanks for explaining everything.

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• ER

  @erivera0270 · 1 year ago

  Sir, you just blew my mind. &nbsp;I thought having a Will was a done deal, never knew it still leads to probate courts. &nbsp;Thank you!

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• BR

  @bryangriffin3139 · 2 years ago

  My mother-in-law had a trust and when she died, it was really hard but she had a living trust and all we had to do is open up the book and follow the instructions. It was so easy. I want to thank her for making it easy for my wife in this trying time, it was so easy I believe in living trust everything worked out properly. It was just perfect.

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• BL

  @bluelady214 · 4 years ago

  I envy my dog&apos;s carefree life after watching this video.

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• LI

  @lilacbazzi493 · 3 years ago

  Thank you for explaining Living trust versus Will in a very clear way. I have never heard explained as simple and &nbsp;as you&apos;d done. This is going to be a game changer for a lot of people listening to this.

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• WI

  @wisdomaboveground · 2 years ago

  I just went thru this nightmare, &nbsp;my father had a lot of assets. &nbsp;My brother and sister thought it was going to be a free for all and were shocked to find out he had a living trust in place. &nbsp;Great video

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• AK

  @akag-bomb5235 · 4 years ago (edited)

  Toby, been watching you for years and learned a lot. But this is probably one of the best videos so thanks for some of the suggestions! My mom&apos;s one asset was a house that was purchased in 1977 for $40k but sold for $1.1m (California) when she passed last year with the proceeds sitting in a specialized account until distributions are made. &nbsp;She had Alzheimers but she passed peacefully in her home as outlined in her AHCD which was part of the set of legal documents she had set up in her living trust. &nbsp;As the trustee of her estate, I am witnessing firsthand the grief and greed that you so aptly described. The beneficiaries are pulling out the stops. One beneficiary asked for their distribution immediately after mom passed, another contested the trust, and the last has filed a petition to have me removed claiming I had undue influence over her when she named me the trustee. &nbsp;But the trust was set up in 1979 (updated every 10 years with me named as the successor trustee every single time) when she was of sound mind so the net effect is that legal fees can still drain the trust by belligerent beneficiaries. Yes, those legal fees will eventually be recouped &nbsp;at their expense. It&apos;s stupid though. My mom would be mortified if she knew what was happening.

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