A Living Trust is the Cornerstone of All Estate Planning. You Only Need a Living Trust if there is a Possibility that Either of these 2 things may happen to you:
1.You May become Incapacitated one day , OR 2.You May Die one day……Seriously, everyone needs a Living Trust at the very minimum.
Assets in your name on the day of death or incapacity is an invitation to Probate Court
- Probate takes 2 years average
- Probate costs 10% of your GROSS Assets, average
- Conservatorship costs 10% of your GROSS Assets per year, average
- A Complete Living Trust avoids all.
A Grantor Irrevocable Trust (GIT) has a different Tax ID# and is separate from you. It is Protected .
- 1. Needed if you Own a Business
- 2. Assets in your name are actually under your Social Security number. Public information. Subject to lawsuits.
- 3. The GIT is separate so it is private and protected.
- 4. Owns and manages the LLCs
Limited Liability Corporations (LLC)
- 1.Wyoming Holding LLC
- 2. Serial LLCs in each state of operations
