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In this video, Lou Brown and Scott Paton talk about taxes. In previous episodes, Lou already touched upon capital gains taxes and the impact they may bring. Now, there is another tax that would probably affect your descendants for many generations if you do not take action now.
It’s called the Inheritance Tax.
Join Lou Live! Every Wednesday at 1:05PM Eastern and learn the latest on the real estate market today!
References:
Joe Biden’s 61 Percent Tax On Wealth: https://taxfoundation.org/joe-biden-estate-tax-wealth-tax/
Biden Tax Rule Would Rip Billions From Big Fortunes at Death:
https://www.bloomberg.com/news/articles/2021-05-04/biden-tax-rule-would-rip-billions-from-biggest-fortunes-at-death
Timestamps:
0:12 - Introduction - “ What’s Going On in the Real Estate World?”
1:32 - Inheritance Tax - the real thing
3:21 - Joe Biden’s 61 Percent Tax On Wealth
13:00 - The Parentheses States (Outskirts of America) vs. the Central States
15:17 - Biden Tax Rule Would Rip Billions From Big Fortunes at Death
21:27 - Knowledge is Power and Money
24:12 - How Can You Protect Your Wealth?
29:01 - https://www.MaximumAssetShield/com/EliteTrust/
Viewer’s comments & questions for Lou
32:22 - Does any of these taxes apply to my estate if I have an Elite Trust?
36:11 - Do you have the seller put their property in a trust then do the closing when I have a buyer or is it all done at the same time at closing?
37:12 - If I put my house in a Land Trust and I pass away my kids will still have to pay inheritance taxes?
38:20 - Can I place a property into a land trust if it's already in the elite trust?
39:19 - Can I start my business as a trust rather than an LLC?
40:22 - Can I still lease option from the elite trust?
42:15 - Is vol 4 & 5 different from the elite trust course?
43:28 - From my former question about sellers putting their property into a land trust first and I find a buyer. My question is can it all be done at the same time at closing with an R Estate Attorney?
44:24 - If a seller is adamant about working with a listing agent, what would be your recommended approach to this situation?
47:24 - Is there a place in the Street Smart paperwork that indicates what the listing agent's commission will be?
48:59 - Would you trust a closing company to write the trust if they insist their paperwork must be used?
51:12 - If my house is in a Land Trust and it's worth $600K and I pass away, how much inheritance tax does my beneficiaries have to pay?
52:44 - Lou’s closing message.
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Benefits of Trusts You Cannot Get With ANY Other Entity
The Due-on-Sale Clause – What it is and How to Avoid it Legally
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