Here’s exactly what that “one document” is. It’s a revocable living trust 🏡 The trust is the legal tool that keeps your home out of probate. The steps below are how you make the trust actually work. Comment “BOOK” for a free copy of my bestselling book, Legally Ever After, for the full plan. Step 1 Create a Revocable Living Trust This is the one document. You create the trust and name yourself as the trustee. You keep full control of the home while you’re alive. Step 2 Name your beneficiaries a
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320K views · 2.5K reactions | What is the difference between a revocable trust and an irrevocable trust and how does it affect my taxes? It is all about control versus certainty about how things will get. Passed along after you were gone. #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom | Pevney Estate Planning | Facebook
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If you have the most common type of trust, which is a revocable trust known as a living, trust the taxes all flow through to you. You’re still able to take the tax exemptions but if you have an irrevocable trust, you’re not able to take the tax exemption and your trust pays the taxes. | The Medicare Family
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