9 Revocable Living Trust Mistakes

Comments · 529

• OP

  @opensourceror · 5 years ago

  9 Mistakes Not to Make with a Revocable Living Trust<br><br>1. Failing to Fund the Trust<br>2. Having a poorly written Trust<br>3. Mistakenly thinking that Revocable Living Trust assets aren&apos;t used for Nursing home expenses<br>4. Mistakenly thinking that Revocable Living Trust protects you from liability/creditors<br>5. Not having ancillary documents in support of Trust (power of attorney, durable power of attorney, successor trustee, pour over will)<br>6. Not realizing your Trust doesn&apos;t control where your IRA, Life Insurance, Annuities go when you die<br>7. Naming your Trust as the beneficiary of your IRA when you don&apos;t need to<br>8. Failing to update your Trust when something changes<br>9. Failing to subscribe to this channel

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• NT

  @ntmlaw · 1 year ago

  I am a practicing attorney in New York and have been dealing with this state planning for over 35 years and I must compliment you on your clear and concise explanations a very complicated Concepts you are a great teacher

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• LI

  @lifezgr8t · 3 years ago

  Trusts can be confusing and unfortunately there isn’t a place to get answers for your specific scenario &nbsp; . Everyone should make death simple.

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• MA

  @maviswilliams9848 · 1 year ago

  Damn, this is so overwhelming.

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• DE

  @DeadManMoney · 6 months ago

  This is the stuff they should be teaching in high school instead of algebra we never use. Estate planning isn&apos;t just for rich people. It&apos;s for anyone who doesn&apos;t want the government deciding what happens to everything they worked for.

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• BA

  @barrysmith8193 · 1 year ago

  I’ve just subscribed. I’m 78 and getting very serious about the inevitable. I’m putting together a comprehensive action plan binder that details step by step for me, my wife, or my son to follow. I have completed the necessary legal documents to carry out our intentions and wishes. We have for the 48 years of our marriage lost many adopted animals and just lost two horses so we are well aware that grief will factor into our thinking clarity so quality and thorough preparation ahead of time will have great value. Thanks for your postings and being part of our success team.

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• VI

  @VictoriaTravis-h3g · 1 year ago

  Absolutely beyond Excellent info! I wish I would have had this presentation when my husband died 17 years ago. Thank you! See you later today.

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• PA

  @paulthomasshepherd5156 · 4 years ago

  It&apos;s easier not to die!

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• MI

  @michaelday1700 · 2 years ago

  This needs to be taught in schools . Thanks for all of the great information.

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• DE

  @dennmillsch · 3 years ago

  Thanks for the video, but Mistake #9, I wasn&apos;t expecting that!! Hahaha

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• VA

  @van6278 · 3 years ago (edited)

  I&apos;d never allow my estate to go to a nursing home. I&apos;d make it clear to let me die before they get $3000 a month of my money. When I get to the point of where I can&apos;t take care of myself, it&apos;s time to give it up.

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• BA

  @barbsinclair7352 · 4 years ago

  I just met with an estate planning lawyer last week and went in assuming I&apos;d create a Trust (side note, if pay a few thousand for them to write a trust the language better damn well be correct) anyway, htey mentioned something that I hadn&apos;t heard of before for a home, a Beneficiary of Deed, instead of creating a trust, I left totally confused and the pros and cons of a BOD vs. a Trust, other than the fact it cost double to write a trust.

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