Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com A reverse mortgage is in many ways like any other mortgage. A loan that you owe that is secured debt. Yes, a home with the reverse mortgage can go inside of a trust. If it is a revocable living trust, the mortgage company has no say in whether it goes into that trust or not.#EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty #ReverseMortgage

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com An LLC can give you asset protection from lawsuits, if you own a business. By the way, rental properties are a business. And a trust and protect you from the time, cost, hassle probate, which takes a long time and is very expensive. So from both lawsuits and probate Put in an LLC, and LLC owned by a Trust #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty #llc #assetprotection

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com After putting real estate inside of a living trust, you still have complete control over that real estate or home. That means you can sell it, rent it out, take out a second mortgage, use it as an Airbnb, everything that you could do before it was in a trust. #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com a step up in basis, has to do with capital gains taxes. When a home is passed on to a child, typically there is a step up in basis meaning that it is as if the child bought the home for what the home is worth when the parent passes away. This can save those kids a lot of money on capital gains taxes, this is also one of the reasons why it is typically a bad idea to put kids on the deed to the parents home before the parents passed away. The better solution, get that home inside of a living trust and make the kids the beneficiaries, this way they will benefit from getting the home without it, having to go through probate and get a step up in basis for capital gains purposes. #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty ##Taxes##Capitalgains ##stepupinbasis

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Beneficiary designations are an important part of estate planning. Don’t forget about them. Make sure your ex spouse or your parents aren’t. The people who are going to inherit your 401(k) if you want it to go to your spouse and or children, and or trust. Better yet, in some cases, make a living trust, a beneficiary. #onthisday #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Trust are very flexible. Most living trust let you put new property that you buy or acquire after the trust was initially set up. Trust also give you a lot of control about how the assets are distributed to your kids after you’re gone. Want to wait until they’re 30 or 40, no problem. Put it in the trust.

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Investing in rental properties? 🏢 Concerned about asset protection and avoiding probate? 💼 Here’s a powerful strategy: place your rental property inside an LLC for liability protection, and then put that LLC inside a trust for seamless estate planning. 🤯📜 This double-layered approach shields your assets from personal liabilities and ensures a smooth transition for your heirs without probate court hassles. 🛡️🔒 Plus, it simplifies your estate plan, making it a win-win for landlords and investors. 📈✨ Learn more about this game-changing tactic! 💡💰 #RentalPropertyInvesting #AssetProtection #EstatePlanningWins #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com Put your home inside of a living trust for the following reasons. 1. cost. Probate is extremely expensive, especially if you live in California. 2. Control, control what happens to your stuff from byomd the grave. Three. Privacy, outside of probate nobody gets to see where your stuff is going 4. Time and hassle Save your heirs a year and a half to 2 years of court hearings even for a simple estates #onthisday #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty

Free Estate Planning Strategy Session for California Residents www.ocestateplanlawyer.com joint tenancy with right of survivorship means that the last person living completely owns the home. Tenancy in common means that each person owns a percentage of that home. Be very careful about how the deed to your home is titled. Better yet, put that home inside of a living trust giving you complete control over the home while you’re alive, and then controlling exactly what happens to it after you are gone. #LivingTrust #RevocableTrust #EstatePlan #EstatePlanning #CaliforniaEstatePlanning #OrangeCounty #Parents #California #SoCal #Norcal