See the Video Recording here: https://us02web.zoom.us/rec/play/PKXilkNgWIUClS01LCuhUFl9HdJ5I7YqrEtXdxUqiw10eQhp_jjW9GqwWsWdXzDn15e2F5xgf5wUOCqJ.6cEixtuDZDigd_zL?autoplay=true&startTime=1689177880000

Access the Live Transcript here: https://otter.ai/u/vkywYVpGSMncnccZTqZzeAmH0vE?utm_source=copy_url

Looking to invest in life insurance and leverage your Trust? 

• Email Ben at [email protected], or use the link below to receive your free quote!
• Get your free quote here: https://www.abundancegroup.com/insurance

Important docs from this call:

• IRS confirms that completed gifts to grantor trusts are not eligible for Section 1014 step-up: https://www.reuters.com/legal/transactional/irs-confirms-that-completed-gifts-grantor-trusts-are-not-eligible-section-1014-2023-06-21/
• RR-2023-02: https://www.irs.gov/pub/irs-drop/rr-23-02.pdf

Outline:
-What is a professional services agreement and how does it work? (0:00)
-Partnership between the Business.(6:44)
-Transitioning profits to a Personal Trust. (13:48)
-The importance of having a Trust Agreement. (21:22)
-Do you have a checklist? (27:30)
-Beneficiaries vs Trustees. (34:02)
-What’s included and not included in the rules. (40:42)
-What is a Revocable Living Trust? (47:49)
-How to structure the Business and Personal Trust. (56:04)
-Risk is all on your partner. (1:03:56)