Question: Do I have to file the Trust with the Secretary of State for it to be immediately protected or effective? Answer: A living revocable trust is not recorded to make it “valid,” “legal,” or “effective” in any way. Once the trust is properly signed, it will
Absolutely! Your business may be your most valuable asset. Many advisors kind of forget about the business when they are putting a living trust in place for a client. If the business isn’t “owned” by the living trust it will be in the probate estate after you die. Probating a business is really bad. The […]
Bank accounts, safe deposit boxes, stock accounts, everything you sign your name for needs to be assigned to the trust. Technically the assets aren’t “assigned” to the trust. Ownership of the assets is changed from you to the trust. In the bank situation, you need to take
In building a bullet-proof asset protection plan, which state is the best to file a limited liability entity, Wyoming or Nevada? and which entity would be the most effective, an LLC, LP, “S” Corp or a “C” Corp, and what would your fee be for such? MHM There is not a “best” state to file […]
