Thursday, July 2, 2020

Do Trusts Pay Taxes? A series on Trust #8

https://streetsmartinvestor.com/trusts/do-trusts-pay-taxes-a-series-on-trust-8/

Do Trusts Pay Taxes?
Well, they could.
In this video, I discuss two types of trust that you need to understand;
– Simple Trust
– Complex Trust
You can learn more about this by getting your FREE digital version of the printed Book now…
You will also receive weekly tips and advice from Lou Brown directly to your inbox.
We promise not to share your email address with anyone, ever!
-------------------------------------------------------------------------------------
Hi! My name’s Lou Brown. Sometimes people ask me a question, do trusts pay taxes? The answer is, they could. And the reason is because there’s two different kinds of trusts. There’s Simple Trusts and there’s Complex Trusts.
So a simple trust as identified by the IRS under code section 671 through 678. A grant or trust can be a Simple Trust, meaning that the beneficiary files the tax returns and pays the taxes. Now, if the trusts gets an EIN number, then it also has to follow a very limited tax return pointing to the beneficiaries tax return, being where the taxes are actually going to be compiled. Now, if it’s a simple trust, then it’s all relative to what the beneficiary’s tax return looks like. So if the beneficiary would have to pay taxes, then that means that money is going to have to have taxes paid on it.
Now there’s another type of trust. Now there’s about 30 different kinds of trusts. So it’s important that you understand and contrast the difference between a Simple Trust. And then what’s called a Complex Trust. Now a complex trust actually gets its own tax payer identification number. It does file a separate tax return. It’s a 1041 instead of a 1040. And it actually can file and pay taxes. Now it may have taxes, but it also may have provisions within the trust that could defer taxes until that trust liquidates. Now that could be anywhere from now to 20 years from now, or it could be passed on from generation to generation. So there’s some real huge benefits that can come from structuring your Complex Trust in a certain way that could defer taxes for literally generations to come.
I’ve got more information for you. Let’s start with MaximumAssetShield.com/book I’ve got a free book for you. MaximumAssetShield.com/book Also check out the website, MaximumAssetShield.com You can learn more about my home study course. You can learn more about the upcoming event that I’ve got. This is a four day event that teaches you all kinds of different things, about Simple Trusts, as well as Complex Trusts. Hopefully this has been of help to you. My name is Lou Brown. Hopefully I’ll see you soon. Yeah, baby!
-----------------------------------------------------------------------------------

Posted by at No comments:

Do Lawyers Keep Copies of Trust? #7

https://streetsmartinvestor.com/trusts/do-lawyers-keep-copies-of-trust-7/

Do Lawyers Keep Copies of Trust?
If they prepared the document, it’s very likely they’re gonna keep a copy of that.
One of the great benefits of trust is privacy.
I have a book that you can download for FREE!
Hopefully this has been a help to you. I hope to see you soon. Yeah, baby!
-----------------------------------------------------------------------
Hi! My name’s Lou Brown. I’ve been using trusts since 1984. And one of the questions people ask me is, do lawyers keep copies of trusts? Well, if they prepared the document, it’s very likely, they’re going to keep a copy of that. And one of the other questions is, if I’m having a closing and my property is in trust, is the lawyer going to require a copy of my trust? Well they might require a copy, but you do not have to give them the copy. In other words, you can take the trust to them and say, here you go. Here’s how you can verify. Number one, that there is a trust. Number two, who the trustee is and what the powers of the trustee are. Number three, that the trustee has the power to sell the property. And number four, that the transfer of the assets is going to go according to the terms of that agreement.
In other words, to the new buyer, through the proper instructions that are contained in the trust. Does the lawyer have to keep a copy of that? No, they don’t. They can put, simply a statement in their file that says I have reviewed the trust and the trust is intact. And that’s it. Do they have to keep a copy? They do not have to keep a copy of that. That is your personal information. Understand this. If somebody subpoenas that file, they could have a copy of that. If some new clerk or new worker at the attorney’s office, inadvertently gives a copy, makes a copy, emails a copy, faxes a copy, whatever might happen. That’s out there. If you never gave them a copy in the first place, guess what? It’s not available for somebody to share with someone else out of your purview. So one of the great benefits of trust is a thing called Privacy. And certainly that will keep you private. If you don’t give the attorney, a copy of the trust to keep it in their file.
Hopefully this has been of help to you. I’ve been buying, holding, and selling property for over 40 years. And I can tell you that my friend, one of my great friends, and so I’m so blessed to have learned about it. Way back in 1984, I started using these great powerful things called trusts. Now I’ve got a little book. You can download that for free it’s MaximumAssetShield.com/book You can download that for free. You can also learn more on my maximum asset shield website on our upcoming event. And also my home study course on trusts. Hopefully this has been of help to you. My name is Lou Brown. I hope to see you soon. Yeah, baby!
-------------------------------------------------------------------------------
Posted by at No comments:

Do It Yourself Wills and Trusts #6

https://streetsmartinvestor.com/trusts/do-it-yourself-wills-and-trusts-6/

Do It Yourself Wills and Trust
I’ve been buying, holding, and selling property now for over 40 years!
One of the things I learned about early in the game is trust.
These are powerful, they can be profitable, and they can provide privacy, and they can provide probate avoidance.
What’s important to note is that there are about 30 different kinds of trust.
You can learn more about that on with my FREE book at
Hopefully this has been a help to you. I hope to see you soon. Yeah, baby!
Hi! My name’s Lou Brown. I’ve been buying, holding, and selling property now for over 40 years. That’s 40. Over 40 years. And one of the things I learned about early in the game, 1984, I started using an amazing thing called trusts. And I’ll tell you that what I learned is that they are powerful. And they can be profitable. And they can provide privacy. And they can provide probate avoidance, something that you cannot get from any other entity. Not a corporation. Not an LLC. Not a limited partnership. You can only get it from these amazing things called trusts.
Now there’s about 30 different kinds of trusts. So now we can go down the rabbit hole because there’s so many different opportunities and making decisions about what to do and how to do it. Now, number one, most people who have any assets they get around to sooner or later, sometimes on their death bed, they’ll do a will. And the will is simply saying, I want this person to get this. I want that person to get that. Or I want everything to be sold and shared and shared alike. And you certainly can do a will. Here’s the caution with doing a will.
It guarantees something called probate. What’s probate? Probate is the process by which the assets are taken from the dead person and given to the rightful living heirs. Whomever that might be. Well, if there’s a written will, then it says who that supposed to be, but guess what? That’s administered by a court. So typically people have to hire an attorney because they don’t understand the process themselves. And then things have to be filed with the probate court. All counties have a probate court. They have a circuit judge that travels and deals with matters like this. Well, that can be avoided with the use of trusts.
Now, the other question is, can I do it myself? And the answer is yes, you can! In fact, there are. And in fact, I have a whole system on Land Trusts and Personal Property Trusts. Now, like I said, there’s about 30 different kinds of trusts out there. And a Land Trust is a very unique kind of trust. And my favorite, because it can give you privacy. It can give you protection. It can give you probate avoidance. And it can give you profits as well. Love for you to learn more about that. I’ve got a free book it’s called Trusts. Right here, and you can download it. MaximumAssetShield.com/book and that’s free. And that’ll give you some more information about trusts and that certainly could benefit you. And if you want to go ahead and get a home study course where you could do it yourself, you can go to my website. MaximumAssetShield.com/course and that will help you to learn more about the course.
And then of course, there’s a live event as well at MaximumAssetShield.com. So that gives you some things to learn. Some things to study. And then you can learn that you can actually do this yourself. You can create all the documents and of course you could actually take them to an attorney and have them review and for a pittance, they can review your documents and make sure they’re done correctly for a lot more money. They’ll create them from scratch. So you can certainly save thousands upon thousands of dollars. If you do the first step yourself. And shouldn’t you learn how to do it. So that you’ll know where the bones are buried. And sometimes people don’t know that they turn everything over to an attorney and they don’t really know what happened. And that can be a very dangerous place to be, especially if you’ve passed on. And now your heirs are supposed to be entrusting themselves with someone who kind of knows where the bones are buried. It’s more important that you learn this yourself. And that you do this paperwork yourself. And that you understand exactly what you’re doing and exactly why you’re doing it. So that’s where do it yourself comes in very handy. Well, I look forward to seeing you soon. My name is Lou Brown. Yeah, baby!
------------------------------------------------------------------
Posted by at No comments:

Wednesday, July 1, 2020

Irrevocable Trusts Pay Taxes #5

https://streetsmartinvestor.com/trusts/irrevocable-trusts-pay-taxes-5/

Irrevocable Trusts Pay Taxes
I’ve been using trust since 1984. One of the things people ask me is if irrevocable trusts pay taxes.
The answer is…it could. Depending on what you take advantage of when you set it up.
There’s some very interesting opportunities available in certain irrevocable trusts.
You can download my FREE book to learn more:
Check in with us. I hope to see you soon. Yeah, baby!
-----------------------------------------------------------------------
Hi! My name’s Lou Brown. I’ve been using trust since 1984. And one of the things that people ask me, because I’ve got licensees of my system in all 50 States. They ask me if Irrevocable Trusts pay taxes. And the answer is maybe. And the reason I say maybe is it because if the irrevocable trust actually makes money on the assets that are in the trust, then the answer would be, yes. The Irrevocable Trust could pay taxes. Now there’s some very interesting, let’s say opportunities that are available in certain Irrevocable Trusts.
And there’s certainly a trust I called the Elite Trust. That gives you more value when you’re looking at the tax scenario, because there are ways that you can structure yourself using trusts where you can actually be in an extremely low tax bracket. And you can actually have a ton of assets, very valuable assets in a thing called an Irrevocable Trust. And it also has some other provisions in it.
My name for it is the Elite Trust. And you can learn more about it because I do have a whole explanation about that particular type of trust. You can go to MaximumAssetShield.com/elite To learn more about that trust. And what can happen is, there’s a number of different available things as it relates to the law. And as it relates to taxes. When you bring those things together, you can totally lower your tax outlay. So yes, the structure of the trust could be an actual delay in paying taxes.
So you might have heard of a 1031 tax deferred exchange. Well, there’s deferral in other types of trusts as well. So then when you set it up a certain way, that deferral can literally go from generation to generation to generation. There’s a lot more to learn about that. But to answer your question, whether an Irrevocable Trusts pays taxes, the answer is, it could. And that’s a maybe depending on what you take advantage of when you set up your Irrevocable Trust.
Hopefully that’s been of help to you. MaximumAssetShield.com/book. You can download for free, my book on that. And you can get some more information while you’re at MaximumAssetShield.com as well. We’ve got an upcoming event on the power and the profitability of trusts. So check in with us. Look forward to seeing you soon. Yeah, baby!
---------------------------------------------------------------------
Posted by at No comments:

Do Community Land Trusts Work? - A series on Trust #1

https://streetsmartinvestor.com/trusts/do-community-land-trusts-work-a-series-on-trust-1/

Community Land Trusts
Privacy, Protection, Probate Avoidance, and even PROFITS!
Learn more about trust by getting your FREE digital version of the printed Book now…
You will also receive weekly tips and advice from Lou Brown directly to your inbox.
We promise not to share your email address with anyone, ever!
--------------------------------------------------------------
Hi! It’s Lou Brown. The question is, do Community Land Trusts work? Well, they absolutely do. And it can be an amazing benefit to a local community when certain property is purchased and put into a trust where it’s overseen by the community. And it certainly can be a benefit. And something that you should think about. Now, one of the things that I always advise people is first get your own house in order. Get your own properties into a trust. And my favorite vehicle is a thing called a Land Trust. Now, a land trust can be used by individuals, or it can be used by communities.
As an individual. You will be moving your property from your name into the trust name. Now that can provide some huge benefits. I call it the 4Ps. Privacy. Protection. Probate Avoidance. And even Profits. Because of the decision to move it into that wonderful thing called Land Trust.
Now, know this. There’s about 30 different kinds of trusts out there. So different trusts do different things, just because you hear the term trust doesn’t mean that you have the appropriate vehicle. And so certainly a Land Trust can be an awesome benefit because there’s some things that the Land Trust does that other types of trusts do not do. And one of those being that the property can be held in the Land Trust. But the beneficial interest is actually converted to personal property.
And I can teach you more about this. So I’ve got in fact, a wonderful little book it’s on trusts. It’s right here. And I’ll give you a free download for that. So wherever you saw this, down below or up here in the corner, just click on that and I’ll give you a link to be able to download that and look forward to seeing you soon. Yeah, baby!
--------------------------------------------------------------
Posted by at No comments:

Irrevocable Trusts File Tax Returns #4

https://streetsmartinvestor.com/trusts/irrevocable-trusts-file-tax-returns-4/

Do Irrevocable Trusts File Tax Returns?
I’ve been using trust since 1984. Best thing on the planet.
And when people ask me if irrevocable trusts file tax returns, the answer is yes they do.
Learn more about this and different types of trust by downloading my FREE book to learn more:
I hope to see you soon. Yeah, baby!
------------------------------------------------------------
So the question is, do irrevocable trusts file tax returns? Well, hi! My name’s Lou Brown. I’ve been buying, holding and selling real estate for over 40 years. And I can tell you I’ve been using trusts since 1984. Absolutely love them! Best thing on the planet. And when people ask me, do irrevocable trusts file tax returns, the answer is yes. They do. An irrevocable trust is what’s called a complex trust as to be contrasted with a simple trust. So in fact, there’s 30 different kinds of trusts out there and they’re categorized in two ways. It’s either a Simple Type Trust means that it flows through to the tax return of the beneficiary of the trust. Now that would be a Simple Trust. And in fact, that trust files a very limited tax return, but really refers to the beneficiary’s tax return.
Now, the opposite of that is what’s called an Irrevocable Trust. That’s a complex trust. So complex trusts do file tax return. They have their own EIN number. They have a separate form from the IRS called a 1041 instead of a 1040. It’s a 1041. Taxes as a result of filing using an irrevocable trust has its own tax tables as well. So it’s definitely something you need to get advice from your tax professional on. If you’re going to take advantage of the benefits of doing an irrevocable trust. Which can be many. So for some people, it makes more sense to do a simple trust. For others, it makes more sense to do an irrevocable trust. So make those decisions by learning more.
First of all, I’ve got a download, a free download for you on this trust book that I’ve got. It’s called Privacy Protection Probate Avoidance And Profits Available Using Trusts. And you can go to my website. And that would be, MaximumAssetShield.com/book And you could download that book for free. While you’re there, you can also learn about, we have a home study course, called Land Trusts and Personal Property Trusts. And I’ve also got a four day training called Maximum Asset Shield. So you can check those out as well. I look forward to seeing you soon. Yeah, baby!
---------------------------------------------------------------------
Posted by at No comments:

Do Irrevocable Trusts Avoid Probate? #3

https://streetsmartinvestor.com/101-cashflow-accelerator/do-irrevocable-trusts-avoid-probate-3/

Do Irrevocable Trusts Avoid Probate?
My name is Lou Brown and I’ve been doing trusts now since 1984. My answer is if you set it up correctly, then definitely irrevocable trusts avoid probate.
I got a FREE book here that you can download to learn more about how to do this.
I hope to see you soon. Yeah, baby!
-------------------------------------------------------
Hi! My name’s Lou Brown. I’ve been doing trusts now since 1984. And I can tell you, one of the questions people ask me is, do irrevocable trusts avoid probate? My answer for you is they certainly can avoid probate. If you’ve set it up correctly, if you’ve moved the assets into the trust, then definitely an irrevocable trust will avoid probate. Now, one of the things that does happen though, is people get to that point of actually passing assets onto heirs. Let’s say that they were passed on, now the heirs have those assets, but they were never told that their trust could actually avoid probate. Perhaps the attorney wanted to earn some extra money. And so they went ahead and probate the estate anyway. Isn’t that interesting?
I’ve actually heard stories about people that inherit properties actually in the trust. And then the attorney has them take it out of the trust, put it in their own names. Still go through a full probate of the estate. No good reason for that. So be careful that your family is aware that the assets are in trust or certainly that you’ve left behind some instructions for them so that they are aware they don’t have to go through the expense, the confusion, the delay. That does come with having to have a will probated or having a trust probated. It’s just unnecessary.
And one of the great benefits for using trusts, I’ve been using trusts since 1984. I love, love, love, trust. I think it’s the best entity on the planet that most people don’t know about. So thank you for asking the question. Hopefully that was a value to you. Got a little book here. It’s called the Privacy Protection Probate Avoidance And Profits available using trusts. You can download a free copy by going to MaximumAssetShield.com/book that’s free. And also you can learn more about our upcoming event or my home study course on trusts. So see you soon. Yeah, baby!
---------------------------------------------------------------
Posted by at No comments:
Subscribe to: Posts (Atom)