Protect Your Assets Through A Living Trust
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Protect Your Assets Through A Living Trust

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Learn why you need to protect your business and personal assets through a living trust.

Learn why you need to protect your business and personal assets through a living trust.

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  • ESTATE PLANNING
  • ESTATE PLANNING
  • ESTATE PLANNING
  • ESTATE PLANNING
  • ESTATE PLANNING
  • ESTATE PLANNING
  • ESTATE PLANNING
  • ESTATE PLANNING

Protect Your Assets Through A Living Trust Protect Your Assets Through A Living Trust Presentation Transcript

  • Estate Planning & Wealth Preservation Planning using REVOCABLE LIVING TRUSTS Speaker Kevin L. Day, Esq. Solana Beach, California This material is Copyrighted and may be reproduced only with the owners written consent
  • This presentation does not constitute the rendering of legal advice or services. The information being presented is intended for informational use only and is not a substitute for legal advice. State, national and international laws vary, as do individual circumstances; so always consult a qualified attorney on all legal matters. Legal Notice and Disclaimer This material is Copyrighted and may be reproduced only with the owners written consent
  • Kevin L. Day, Esq. is one of the leading estate planning and international asset protection planning attorneys in the United States and is President of the law firm of Day & Associates Incorporated in Solana Beach, California. Mr. Day’s Bachelor Degree is in Chinese Studies, and he holds both a Masters of Business Administration in International Management and Doctor of Jurisprudence degree.
        • Domestic Revocable Trusts;
        • Probate Avoidance [why you want this]
            • Cost 5-7% of your estate
            • 2 years time on average for a smaller estate
        • Control
          • You decide how and under what conditions your heirs inherit
        • Privacy [No Public Record Filing Required]
        • Disability Planning
          • You decide who can make your healthcare decisions
          • Do not have a Court Appointed conservator running your estate
        • Tax Saving - with the proper provision keep your gift tax exemptions. [This could mean millions of dollars in savings]
    This Session What You Are Going To Be Seeing More Of
  • What is a Trust In general terms all Trusts behave the same… Trustee Legal Owner Beneficial Owner Trust Deed Beneficiary Assets Settlors
  • Grantor Trustee Beneficiary Trust What Is A Trust? Grantor Trustee Beneficiary
  • Revocable vs. Irrevocable Revocable vs. Irrevocable Revocable vs. Irrevocable Revocable vs. Irrevocable What Is A Trust? Settlor Trustee Trust Beneficiary
    • Understanding Living Trusts
    • How to Avoid Probate [time and costs]
    • How to Preserve Estate Tax Exemptions
    • How to Control Distributions and Conditions of Inheritance
    • How to Maintain Privacy of Your Affairs
    Revocable Trust
  • SETTING UP YOUR LIVING TRUST
    • Make Decisions
    • Living Trust Team
    • Inheriting Instructions *
    • Medical Care Issues
    • Attorney Prepares Documents
    • Change Titles
    • You Keep Complete Control
  • FOR EXAMPLE:
    • From
    • “ John and Mary Smith, Husband And Wife”
    • To
    • “ John and Mary Smith, Trustees Under The Smith Family Trust Dated January 1, 2009”
  • PROBATE FEES- California Example-Every state is different
    • $ 15,000
    • 100,000
    • 200,000
    • 500,000
    • 1,000,000
    • 2,000,000
    • 5,000,000
    • $ 1,200
    • 8,000
    • 14,000
    • 26,000
    • 46,000
    • 66,000
    • 126,000
    ……………………… . ……………………… . ……………………… . ……………………… . ……………………… . ……………………… . ……………………… . CALIFORNIA PROBATE FEES ( § 10800 et sec) These fees can be charged by the attorney…..and the Court.
  • How a Funded Revocable Living Trust Works Co-Owned Property of Husband & Wife At 1st Death No Probate Husband’s Separate Property Wife’s Separate Property Surviving Spouse’s Trust: $1,000,000 in 2014 Estate Tax Exclusion Amount Decedent’s Bypass Trust: $5,000,000 in 2011 Estate Tax Exclusion Amount At 2nd Death No Probate Outright to Children Revocable Living Trust of Husband & Wife
  • SUMMARY COMPARISON
    • Cost
    • Time
    • Privacy
    • Contesting
    • Incapacity
    • Minors
    • Control
    • LIVING TRUST
    • $,2000 - $5,000
    • 4 - 8 Weeks
    • Maximum
    • Difficult
    • No Probate
    • No Guardianship
    • Maximum
    PROBATE ≈ 7% of the Estate 1 – 2+ Years None Easy “ Living Probate” Guardianship None
  • Uncle Sam Wants His Inheritance Paid Within 9 Months
  • Revocable Living Trust
    • Protection from Probate
    • No Conservatorship Needed
    • You Maintain 100% Control
    • Gift Tax Exemption Preserved
    • Maintain Privacy (No public action)
    • Inheritance Conditions
    • (gradual steps, education, etc)
    • Lawsuit Protection – None
  • Documents Included In Your Complete Living Trust Estate Plan
    • Administrative Instructions
    • Document Signing Instructions
    • Living Trust Agreement
    • Pour-Over Wills
    • Community Property Agreement (if applicable)
    • Advanced Medical Directive
      • Durable Power-of-Attorney for Health Care including
      • Directive to Physicians Regarding Use of Artificial Life
      • Support (“Living Will”)
    • Durable & Special Power-of-Attorney for Property
    • Limited & Miscellaneous Power-of-Attorney
    • Successor Trustees Instructions
    • Funding Your Trust Instructions
    • Final Instruction Checklist
  • Your choice successor You You You REVOCABLE TRUSTS (“Living Trusts”) Who Can Hold Which Position? Grantor Trustee Beneficiary Trust
  • Already Have A Living Trust?
    • Have your estate planned reviewed.
    • Laws Change
    • Assets Change
    • Tax Changes
    • Family Changes
  • Do It Your Self Estate Planning? Completing a questionnaire does not make an estate plan. You are making permanent decisions about your assets. Moving your assets and funding your plan has consequences.
  • Your Next Step I Need a Trust Don’t wait another day. Call 1-800-648-0966 and receive $500 off the cost of a Complete Trust Package. Call 1-800-648-0966 and the first 5 people will received a FREE Trust review. A $125 Value. I Already Have A Trust
  • 1-800-648-0966 & DAY ASSOCIATES I N C O R P O R A T E D Estate Planning & International Asset Protection Law