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In this video, we’re taking an in-depth look at some of the most common myths surrounding living trusts and probate.
Often, people believe that living trusts are only for the wealthy, but we’re here to debunk that misconception. A living trust isn’t just for those with significant assets; in fact, it’s often even more important for individuals with modest estates or families to have a solid estate plan in place.
One of the biggest myths is that a will can avoid probate. On the contrary, a will actually requires probate, leading to a potentially lengthy, costly process. Many people see advertisements offering wills for a low price, but what’s often hidden is the future cost of probate when the will takes effect.
According to studies, probate expenses can eat up as much as 20% of an estate’s value, leaving family members to bear the burden of those costs.
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Show Notes:
0:00 Intro
0:20 Myth #1
1:33 Myth #2
3:31 Myth #3
5:50 Myth #4
7:34 Myth #5
9:30 Myth #6
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
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