Personal Trust Q&A Podcast: Recent Episodes
Ginamarie Gaudio-Grace
See the Video Recording here:
https://us02web.zoom.us/rec/share/DeqJNEFJPhni1h9OtNZsErugL9iImJJGo5TRTVOf5w99J-tI5WA50RuETlXPL-c1.rykww966cvLTm3DS?startTime=1711555456000
Access the Live Transcript here:
https://otter.ai/u/dwQNo7B05Il5luWHfkCrou5158s?tab=summary
Looking to invest in life insurance and leverage your Trust?
Email us at insurance@abundancegroup.com or use the link below to receive your free quote!
Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
Pay for your PTC: https://.abundancegroup.com/ptc
Create an account: https://belgrovemanagement.com
After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Invest in the 2024 Support Package here: https://www.abundancegroup.com/2024support
Outline:
- Accounting calls and celebrations. (5:47)
- Taxes, investments, and trusts. (13:37)
- Trust accounting and backdating documents. (21:12)
- Trusts and LLCs for tax purposes. (31:30)
- Rental property accounting for fiduciaries. (38:22)
- Trust accounting and income allocation. (43:48)
- Tax implications of rental income in a trust. (50:58)
- Trust law and common law. (58:05)
- Uniform Laws and Their Applicability in Tax Cases. (1:05:04)
- Trust accounting principles and IRS regulations. (1:12:07)
- Trust taxes and mail service. (1:20:39)
See the Video Recording here:https://us02web.zoom.us/rec/share/XRzqg6i-ABvX2HRHjB2SNvk4r-3CL-x0fzRunj-QtThpp6oaJRuDSYvWrN5zqvM.Cayje67AkrTQfZmk?startTime=1710950553000
Access the Live Transcript here:https://otter.ai/u/lIT9n9-4dvEyZqVMovhc9-DppaI?tab=summary
Looking to invest in life insurance and leverage your Trust?
- Email us at insurance@abundancegroup.com or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: https://.abundancegroup.com/ptc
- Create an account: https://belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Invest in the 2024 Support Package here: https://www.abundancegroup.com/2024support
Outline:- Personal trusts and financial planning. 15:01
- Audio recording issues and access restrictions. 23:04
- Updating trusts and completing forms. 28:04
- Trust amendments and settlor information. 32:38
- Trust creation and settlor role. 41:16
- Trusts and legal matters. 46:52
- Trustee and protector roles for a BTC. 54:51
- Trusts, beneficiaries, and legal documentation. 1:01:11
- Trusts, charities, and taxes. 1:09:28
- Setting up a Wyoming PTC and related party transactions. 1:14:49
- Trusts, asset protection, and succession planning. 1:23:18
- PTCs, trusts, and investment advisors. 1:27:51
- Trust documents and notarization. 1:35:34
- Trusts, legal documents, and real estate. 1:42:47
- Trusts, C Corps, and meeting minutes. 1:48:25
- Creating meeting minutes for various trusts. 1:54:29
- Trust formation and notarization. 2:01:14
- Trusts, beneficial interest, and recording documents. 2:08:24
See the Video Recording here:https://us02web.zoom.us/rec/play/nis8jgSGe2gO7a7BzZfKJTC6HaE8xjhBDAKC-zUfJIRCoieQ8GW68sOYPaIbS3OSbTQhOAIVBUSWAKgc.U1CvDzO-5ud1goMv?autoplay=true&startTime=1710345511000
Access the Live Transcript here:
https://otter.ai/u/pz_NYdN-5fXvMbOivwkYXNNKF1w?tab=summary
Looking to invest in life insurance and leverage your Trust?
- Email us at insurance@abundancegroup.com or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: https://.abundancegroup.com/ptc
- Create an account: https://belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Invest in the 2024 Support Package here: https://www.abundancegroup.com/2024support
Outline:
-A gold fund's performance and upcoming payout. 10:10
-Buying and owning a Tesla, with a focus on the driving experience and legal considerations. 15:49
-Transferring assets to a trust for asset protection. 19:07
-Tax implications of selling personal assets to a trust. 27:03
-Trust management and investment approvals. 32:52
-Trusts, taxes, and investment strategies. 39:20
-Tax planning for personal residence sale. 46:11
-Property tax assessments in California. 53:33
-Handling a trust case with the assessor's office. 1:01:08
-Vehicle transfer documents and their requirements. 1:07:11
-Trusts, deductions, and taxes. 1:13:20
-Business trusts, tax laws, and real estate investing. 1:20:28
-Amending LLC operating agreements and client questionnaires. 1:27:10
-Client questionnaires and EINs. 1:33:43
See the Video Recording here:https://us02web.zoom.us/rec/play/0czjLZGFl3BYE_7YnFulwAS-w7goIsuHT2wccJnCrxNRs27qXOftHzdDFGUmzaN00DXeaFfqLWLPl-g2.gVEX3NnzZ4g8dRyS?autoplay=true&startTime=1709917596000
Access the Live Transcript here:
https://otter.ai/u/SVHQL15buj-n2dM9E4y7V3yrbMM?tab=summary
Looking to invest in life insurance and leverage your Trust?
- Email us at insurance@abundancegroup.com or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: https://.abundancegroup.com/ptc
- Create an account: https://belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Invest in the 2024 Support Package here: https://www.abundancegroup.com/2024support
Outline:-Accounting for trust startup costs and PTC expenses. 14:48
-Trust expenses and tax implications. 22:36
-LLC operating agreements and tax implications. 28:48
-LLC meeting minutes and member notifications. 34:59
-Event registration and reservations. 44:49
-Leadership, business, and personal growth. 50:57
See the Video Recording here:https://us02web.zoom.us/rec/play/RHJ34CNLkgh0FbvPTWD3PtkaxhAQh4Ic7S482vzFzWLkjxUPVPnE5RiF0WRE7_xNCn3ft3IOxMEszmrO.X-5HJB0ictqkwL2_?autoplay=true&startTime=1709744418000
Access the Live Transcript here:
https://otter.ai/u/WMfbJD3lWZxT3wyhzA04VbEDfec?tab=summary
Looking to invest in life insurance and leverage your Trust?
- Email us at insurance@abundancegroup.com or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: https://.abundancegroup.com/ptc
- Create an account: https://belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Invest in the 2024 Support Package here: https://www.abundancegroup.com/2024support
Outline:-Trusts, asset protection, and tax laws. 28:28
-Trusts, ACQ, and client portal updates. 44:29
-Taxes, trust documents, and podcast updates. 50:47
-LLC formation and taxes. 56:18
-Tax returns and trust formation for a personal trust. 1:03:54
-Trusts, taxes, and document issues. 1:13:32
-Tax filing requirements for trusts and PTCs. 1:21:05
-Tax accounting for trusts and startup costs. 1:27:54
See the Video Recording here:https://us02web.zoom.us/rec/play/beaH_ak5UrQ286oBuZa-JzkLtAOu3NlARgWJftYWxnohXx-AMThzg34V3KhGY790_Tovbvnh5Xs8csx0.Aa3ULclAXyr7cOyu?autoplay=true&startTime=1709571891000
Access the Live Transcript here:
https://otter.ai/u/f2EdB0cCDKr8NSkuapRKZuXRjEY?tab=summary
Looking to invest in life insurance and leverage your Trust?
- Email us at insurance@abundancegroup.com or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: https://.abundancegroup.com/ptc
- Create an account: https://belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Invest in the 2024 Support Package here: https://www.abundancegroup.com/2024support
Outline:
-Corporate transparency and location preferences. 7:51
-Corporate transparency act's constitutionality and wasteful compliance. 11:03
-Corporate transparency and compliance. 16:48
-Tax implications of cryptocurrency investments. 23:01
-Trust management and tax status for a family trust. 28:16
-Managing trusts with multiple non-familial settlors. 35:54
-Private family trust companies and legal issues. 42:43
-Business trusts and asset protection. 46:57
-Investment trust requirements for accredited investors. 55:15
-Accredited investor qualifications and trust structures. 57:13
-Land trusts and division naming conventions. 1:09:26
-Recording deeds for property transfers. 1:15:29
-Transferring property from Land Trust to business trust. 1:18:04
-Trusts and estate planning strategies. 1:22:31
-Trustee roles and liability. 1:28:37
-Trusts, co-trustees, and title defects. 1:34:51
-Trusts and taxes for businesses. 1:43:08
-Narrow court ruling on financial reporting. 1:50:09
See the Video Recording here:https://us02web.zoom.us/rec/play/LhO9GFG_C6E7vnPKxZQYoM0z1Np-2Kbt7dQkyRfXqd2iH_r4TaWIwAcUBAhK_j522sXWEd_9k0YnS0GG.Pspe17_MiVYYNEHF?autoplay=true&startTime=1709312618000
Access the Live Transcript here:
https://otter.ai/u/dKcSs-U0in3J2_hL29EbW1NMQsk?tab=summary
Looking to invest in life insurance and leverage your Trust?
- Email us at insurance@abundancegroup.com or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: https://.abundancegroup.com/ptc
- Create an account: https://belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Invest in the 2024 Support Package here: https://www.abundancegroup.com/2024support
Outline:-Tax planning strategies and life insurance policies. 5:26
-Trusts, insurance, and taxes. 19:01
-Bookkeeping and accounting for trusts. 25:34
-Bookkeeping and accounting for business trusts. 31:52
-Bookkeeping for trusts and LLCs. 39:35
-Business management, taxes, and QuickBooks. 47:36
-Trust automation and client questionnaires. 55:37
-Legal matters and tax planning. 1:02:55
See the Video Recording here:https://us02web.zoom.us/rec/play/DnZpHkz75qRBYA52WJEsd5AP7oDWQI1Y7i4fhCl5vvj4FdIyWAmsd2_TVWv_almFEzyL9PEwLu4eWOAm.EyyV2W9jGg_I12Dv?autoplay=true&startTime=1709140164000
Access the Live Transcript here:
https://otter.ai/u/T3NI7g73NSfnHjvLRsxobIAQa4o?tab=summary
Looking to invest in life insurance and leverage your Trust?
- Email us at insurance@abundancegroup.com or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: https://.abundancegroup.com/ptc
- Create an account: https://belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Invest in the 2024 Support Package here: https://www.abundancegroup.com/2024support
Outline:
-Trusts, taxes, and asset protection. 13:30
-Trusts, distributions, and taxes. 20:54
-Trusts, taxes, and property management. 28:09
-Trust protector appointment and power limitations. 35:24
-Trust protector powers and limitations. 46:20
-Trusts, taxes, and legal agreements. 49:12
See the Video Recording here:https://us02web.zoom.us/rec/share/MJBrcAbhENd5DZw1qo68MJ-fy1QQCjsJz6hJNaTNEqy4vIW-TDdzCsAJ0wvSl7_B.DcIzdFPlCTwHMxJ9?startTime=1708707973000
Access the Live Transcript here:
https://otter.ai/u/c3rXgN0o_eZMi_0icCrZmr9-xqs?tab=summary
Looking to invest in life insurance and leverage your Trust?
- Email us at insurance@abundancegroup.com or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: https://.abundancegroup.com/ptc
- Create an account: https://belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Invest in the 2024 Support Package here: https://www.abundancegroup.com/2024support
Outline:
-Using transcription services for HOA meetings. 21:47
-Leadership changes and employee dynamics in a business. 29:04
-Taxes, trusts, and accounting for clients. 38:10
-Legal documents and trusts. 44:13
-Tax opinion letters and their validity. 48:56
-Tax pricing and accounting services. 58:39
-Tax preparation prices and negotiations. 1:01:43
-Tax planning and opinion letters. 1:08:12
-Legal strategies for asset protection. 1:15:26
-Client portal access and trust updates. 1:22:26
-Trust documents and appointment of successor trust protector. 1:28:40
-Trust updates and notarization. 1:33:49
-Conference planning and accommodations. 1:41:29
See the Video Recording here: https://us02web.zoom.us/rec/share/ahQdD3OIiha8ssow1_s5jcSDm9FdbwlwXGJ-AGT8aIT1KZfanzBk1Q-Jg7si5IDw.MYIZTjFmg5AI_NgC?startTime=1707930154000
Access the Live Transcript here: https://otter.ai/u/CWHpbaJ0A2aVXbGVMIrgFMdb0AY?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email us at insurance@abundancegroup.com or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: https://.abundancegroup.com/ptc
- Create an account: https://belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Invest in the 2024 Support Package here: https://www.abundancegroup.com/2024support
Outline:
- Personal trusts and family relationships. 0:03
- Trust conveyance and corporate formalities. 5:41
- Trusts, vehicles, and liability. 12:15
- Trusts, assets, and liabilities. 19:40
- Trusts, beneficiaries, and asset protection. 27:12
- Trusts, beneficiaries, and tax implications. 33:27
- Trust language and brokerage account opening. 42:18
- Trust agreements and privacy. 48:37
- Legal opinions for a trust with a PTC. 56:23
See the Video Recording here: https://us02web.zoom.us/rec/play/zoRq8LaYPT6xqLPpplO5VS_ORQviLXiXC-rHHJ5ut7URmT8nG3RvtDHvPeUJvojwBQf9KSI5LwjUQNJ3.4IQU-tby-VoE1zAl?autoplay=true&startTime=1707498166000
Access the Live Transcript here: https://otter.ai/u/rI05hH2KebvC6lZioKB4nJJ4j_s?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: www.abundancegroup.com/ptc
- Create an account: www.belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Invest in the 2024 Support Package here: https://www.abundancegroup.com/2024support
Outline:-Trusts, taxes, and asset protection. (0:02)
-Amending a trust and updating beneficiaries. (10:21)
-Tax compliance and entity management. (18:25)
-Trust protector services for clients. (25:26)
-Trust structure and tax implications. (30:54)
-Trust taxation and PTC use. (36:37)
-Trust roles and tax implications. (43:21)
-Trustee roles and tax implications. (51:20)
-Property division in divorce. (58:34)
-Tax planning and trusts for high-net-worth individuals. (1:04:55)
-Tax planning and trusts. (1:09:22)
-Tax deductions for trust returns. (1:14:43)
-Trusts, taxes, and business structures. (1:21:07)
-Upcoming event and tax-related matters. (1:26:19)
See the Video Recording here:
https://us02web.zoom.us/rec/play/jG52HZSoyfXUUr_tOgKFp-a6hjoiJHRftAYSy-x_rVU0qt3UgnASCPOrz2RXHUJUB3zTAoTIygRzUB_f.5ywFH2wtoLlnW6aa?autoplay=true&startTime=1707325523000
Access the Live Transcript here: https://otter.ai/u/CWHpbaJ0A2aVXbGVMIrgFMdb0AY?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
Email us at insurance@abundancegroup.com, or use the link below to receive your free quote!
Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
Pay for your PTC: https://abundancegroup.com/ptc
Create an account: https://belgrovemanagement.com
After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Invest in the 2024 Support Package here: https://www.abundancegroup.com/2024support'
Outline:
-Tax implications of converting S Corp to LLC with trust as partner. 0:03
-Trusts, debt forgiveness, and management appointments. 3:31
-Trusts, power of attorney, and taxes. 10:59
-Trust accounting and tax implications. 18:09
-Demand note interest and tax implications. 24:36
-Tax-efficient strategies for trusts and foundations. 32:01
-Trusts and asset protection strategies. 40:02
-Legal asset protection and demand notes. 46:53
-Trusts, amended client questionnaires, and legal documents. 54:35
-Trust updates and PTC use. 1:01:56
See the Video Recording here: https://us02web.zoom.us/rec/play/I28Z5GRZvclcLIB5cPrCDMUvpfBczTBOFnwVk7BNiWmhzRc9JojDhqhZ6IB9D2qRVgl0bBoYFx6a36yv.SIA5H1A5J076Ln5Z?autoplay=true&startTime=1706720658000
Access the Live Transcript here: https://otter.ai/u/avL-GvSHiagb64bmgH8SmK7bkps?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at insurance@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: www.abundancegroup.com/ptc
- Create an account: www.belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Invest in the 2024 Support Package here: https://www.abundancegroup.com/2024support
Outline:-Trusts, cash distributions, and event details. (0:03)
-Trusts, estates, and investments. (8:18)
-Tax strategies and brokerage account issues. (16:09)
-Opening a trust account with Charles Schwab. (22:15)
-PTC structure and IRS concerns. (30:40)
-Legal opinions and PTC. (39:28)
-PTC management and automation. (45:57)
-Tax compliance and mail service for trusts. (51:18)
-Trust documents and taxation. (1:00:53)
See the Video Recording here: https://us02web.zoom.us/rec/play/nDevrWzW25eeItYR-2jPavyKkPA98uxWT-9vbjIianyBaqDfFyzbs6yeicdoOqt-2Xa1Ev_v5oeaXP6J.YrDEZLKT0WzTejIN?autoplay=true&startTime=1704474133000
Access the Live Transcript here: https://otter.ai/u/0QIaN5UiO_acAmwa1p1Lx1Ri528?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: www.abundancegroup.com/ptc
- Create an account: www.belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Invest in the 2024 Support Package here: https://www.abundancegroup.com/2024support
Outline:-Trusts, taxes, and administrative addresses. (0:00)
-Gift tax exemptions and strategies. (9:51)
-Personal Trusts and tax compliance. (17:38)
-Trusts and taxes with a focus on ethical considerations. (24:37)
-Trusts, taxes, and asset protection. (26:25)
-Trusts, tax mitigation, and asset protection. (29:20)
-Legal and personal implications of implementing a certain strategy. (34:38)
See the Video Recording here: https://us02web.zoom.us/rec/play/XWXGZWFhzq69yW1b7RpDmQMpftw2hrj-h6PG8v_XrGGDdgCsEWIRf3PL0yjx1G7Eqm59ArTuuEAJWlts.Ya30ldnvmy-Nz2ih?autoplay=true&startTime=1704301262000
Access the Live Transcript here: https://otter.ai/u/1dHN3b0M8emCtiRIvCKhURztGzA?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: www.abundancegroup.com/ptc
- Create an account: www.belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Invest in the 2024 Support Package here: https://www.abundancegroup.com/2024support
Outline:-Business Trusts, taxes, and legal addresses. (0:00)
-LLC taxation and beneficiary changes. (5:50)
-Wyoming LLC structure and investment committees. (13:59)
-Trusts and LLCs for business continuation. (19:36)
-Business trusts and asset protection. (28:45)
-Trust transitioning and tax preparation. (37:06)
See the Video Recording here: https://us02web.zoom.us/rec/play/KPneJJbIrHfygYPoO3BEmvo4FJDsPssek-577rrI6joC6ukDhtxIsBA7BvoldeFc1KgoY_3vwuso0UlX.dtOhv3eSkhtpeHNA?autoplay=true&startTime=1703264872000
Access the Live Transcript here: https://otter.ai/u/XBSl1DxAU2d0VoPg3nOmY2NpvZc?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: www.abundancegroup.com/ptc
- Create an account: www.belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Outline:-Trusts, celebrations, and personal finances. (0:00)
-Trusts, subtrusts, and Medicaid planning. (4:12)
-Trusts and Medicaid qualification. (12:06)
-Financial spreadsheet issues and solutions. (19:02)
-Trust protector roles and agreements. (24:49)
-Trust management and beneficiary changes. (35:28)
-Trusts, managers, and tax implications. (42:09)
-Trusts, donations, and investments. (53:58)
-Charitable trusts and tax implications. (1:01:16)
-Tax planning strategies for a business owner. (1:10:39)
-Trusts, asset conveyance, and tax planning. (1:16:54)
See the Video Recording here: https://us02web.zoom.us/rec/play/5g2xBGJ8RWtjqm9m4I0wu0-P2JHT_2xCs7eH79bOZRkw4lumdeD7CQIaTDSRON3OtYY5ZwnBRFv5bmQY.mXR6_l2Zsoie27Xt?autoplay=true&startTime=1703091738000
Access the Live Transcript here: https://otter.ai/u/iw__FkOM6q_IIC6qMqE29cgZXh0?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: www.abundancegroup.com/ptc
- Create an account: www.belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Outline:-Private money lending and insurance updates. (0:00)
-Trusts, amendments, and asset conveyance. (4:43)
-Trust amendments and notary services. (9:46)
-Transferring assets to your Trust for accredited investor status. (18:01)
-Trusts, interest rates, and succession planning. (22:55)
-Trusts, taxes, and investments. (27:56)
-Obtaining an EIN number for a Trust. (36:12)
-LLC formation, EIN, and corporate transparency. (42:09)
-Trusts, EINs, and manager appointments. (48:05)
-Transferring accounts between TD Ameritrade and Charles Schwab. (55:24)
-Trust tax ID numbers and PTCs. (1:01:06)
See the Video Recording here: https://us02web.zoom.us/rec/play/qcCJ7FbcM4yh3K8JTIpOKzMz-l_E9ytnmBksjv3BhbvK320aLbvc4WErOVxU4M9E8S4YmSFtP_DOJt9x.UVni-wDKg5hh2nP-?autoplay=true&startTime=1702659857000
Access the Live Transcript here: https://otter.ai/u/8Ko5er_JsIVdFyxVW_scFMAJIls?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: www.abundancegroup.com/ptc
- Create an account: www.belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Important Links from this Call:
- View the IRS Memorandum released in August
- Listen to the Q&A Call in response to Memorandum
- Podcast on Wyoming PTCs: https://www.abundancegroup.com/ptcpodcast
- Notarize your Documents here: www.abundancegroup.com/notary
Outline:-Personal Trusts and asset protection. (0:00)
-Creating a Private Family Trust and PTC. (6:24)
-Trusts and estate planning for wealth protection. (13:11)
-Corporate Transparency Act and related party transactions. (18:46)
-Trusts, insurance, and investments. (25:14)
-Charitable donations and tax deductions. (34:42)
-Creating a guest book for an event. (45:39)
-Trusts and partnerships. (47:50)
-Trusts, beneficiaries, and property management. (54:04)
-Property tax implications of changing beneficiaries. (1:01:17)
-Transferring properties to trust and potential tax implications. (1:03:58)
-Trusts, property, and taxes. (1:05:24)
See the Video Recording here: https://us02web.zoom.us/rec/play/TlLbrbWwUCD23kQb4JpJH7_rEoiqSS0pqSrstbA2gBZZNrV0Cd4gfX28wdFzdO0biL9uqhL6O65STRPo.FZRWO7GtsmEob5WG?autoplay=true&startTime=1702486961000
Access the Live Transcript here: https://otter.ai/u/CjpWX2TIrhZurmyogA5Q16t_YrM?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Creating a Wyoming Private Trust Company (PTC):
- Pay for your PTC: www.abundancegroup.com/ptc
- Create an account: www.belgrovemanagement.com
- After creating an account, click the "messages" tab on the left side of the page and follow the instructions.
Important Links from this Call:
- View the IRS Memorandum released in August
- Listen to the Q&A Call in response to Memorandum
- Podcast on Wyoming PTCs: https://www.abundancegroup.com/ptcpodcast
- Notarize your Documents here: www.abundancegroup.com/notary
Outline:-Investment parameters for a Trust. (9:21)
-Trusts, beneficiaries, and property tax reassessment. (12:57)
-Property tax assessment in California. (18:18)
-California property tax reassessment and recording. (23:44)
-Trusts, bank accounts, and legal documents. (29:04)
-Business entity transfer and taxes. (37:43)
-Real estate investing and legal matters. (45:48)
See the Video Recording here: https://us02web.zoom.us/rec/play/n-FVaLH4BGnhMnp4EX1sDd0vml9jjVIepQ-YLLG1vETybAHC1b-1__8ft1aR843W_Hcic8739WxZt4kS.Y4ruFsJ6k-bu3uYh?autoplay=true&startTime=1702055141000
Access the Live Transcript here: https://otter.ai/u/yHu1fl71NskRzRPST_8qUcGK-V0?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Important Links from this Call:
- View the IRS Memorandum released in August
- Listen to the Q&A Call in response to Memorandum
- Podcast on Wyoming PTCs: https://www.abundancegroup.com/ptcpodcast
- Notarize your Documents here: www.abundancegroup.com/notary
Outline:-EINs, taxes, and LLCs for a private trust company. (0:03)
-Setting up a PTC for asset protection and tax benefits. (7:01)
-Personal trusts, taxes, and legal roles. (14:18)
-Trusts, LLCs, and taxes for a business. (23:37)
-Trusts, bank accounts, and Power of Attorney. (29:13)
-Trusts, taxes, and financial planning. (35:20)
-LLCs and property management for short-term rentals. (45:53)
-Trusts, bank accounts, and property management. (53:42)
-Trusts, control, and asset protection. (1:08:09)
-Trust management and notarization. (1:15:34)
See the Video Recording here: https://us02web.zoom.us/rec/play/e1RSe6NIcnS5mOZpqkoOSzElO7aIcF6pGUysVzAMIGkgAUrhomf1dKADFzZiGoyK5OHweEk_6_qFjj69.fZe0ouAJdX9TzRFd?autoplay=true&startTime=1701882332000
Access the Live Transcript here: https://otter.ai/u/tvlaZSYHV52MlZatQoE-MqhbVOg?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Important Links from this Call:
- View the IRS Memorandum released in August
- Listen to the Q&A Call in response to Memorandum
- Podcast on Wyoming PTCs: https://www.abundancegroup.com/ptcpodcast
Outline:-Trusts, Wyoming LLCs, and PTCs. (0:03)
-Trusts, PTCs, and control. (9:15)
-Trusts, taxes, and control. (12:14)
-Trusts and taxes with a focus on PTCs. (18:27)
-Trust management and IRS red flags. (25:14)
-Trusts, audits, and tax law. (33:43)
-Tax returns and Trusts. (42:08)
-Trusts, estates, and taxes. (46:01)
-Investment property purchase and financing options. (50:09)
-Trusts, committees, and PTCs. (52:36)
-PTCs and committees in a Wyoming LLC. (1:00:05)
-Trusts, committees, and tax returns. (1:09:10)
-Trusts, PTCs, and taxes. (1:15:38)
-Trusts, PTCs, and investment committees. (1:20:46)
-Trusts, PTCs, and control structures. (1:27:35)
-Trusts, LLCs, and taxation. (1:36:04)
-Taxes and Trusts with a focus on red flags. (1:40:48)
See the Video Recording here: https://us02web.zoom.us/rec/play/8Yl3VgSfdnC9N9jqLNufcd1Q8RHKoU3pAp0MRaPKTmD8ffmuKvfbYErPQdbKjjnj-pgLISIFPbv1Q1Kf.5Bn45N5IEoXJSfC-?autoplay=true&startTime=1701277268000
Access the Live Transcript here: https://otter.ai/u/brYRzj7fWPj5vCBDDJ1r7eqg5w0?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline:-Tax implications of leasing property from Personal Trust. (0:00)
-Hiring children, Trusts, and tax strategies. (6:25)
-Trusts, LLCs, and tax planning strategies. (13:03)
-Setting up a Wyoming LLC for a Personal Trust. (20:15)
-PTC updates and distribution committee. (26:53)
-Real estate transactions and legal documents. (33:14)
-Transferring properties into Trusts for tax exemption. (37:25)
-Assigning mortgages in real estate transactions. (42:16)
-Trusts, LLCs, and taxes. (51:05)
-Transferring property ownership for estate planning purposes. (59:59)
-Trusts, beneficiaries, and power of attorney. (1:08:27)
See the Video Recording here: https://us02web.zoom.us/rec/play/dylq2FnH9J8F-11qPWEKAuBN3iqU0seunkAPIi5xTmz--tltGrqHDBOA5Symmra0WS0Qzk4jKH280Jgf.Czhght2bk_cK4R24?autoplay=true&startTime=1700067934000
Access the Live Transcript here: https://otter.ai/u/dXlo08EOJgR5g7dqzO_DtedGZxc?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Important links from this call:
- www.abundancegroup.com/wyllc
- www.abundancegroup.com/ptcinstructions
Outline:-Trustee swaps and document dates. (0:00)
-Trusts, taxes, and control with a focus on PTCs and related party transactions. (5:22)
-Trusts, taxes, and IRS audits. (13:49)
-Asset protection and tax mitigation strategies. (22:56)
-Trusts, affidavits, and asset protection. (26:53)
-Asset protection and privacy concerns. (32:09)
-Trusts, estates, and property conveyance. (37:47)
-Trusts, taxes, and legal matters. (46:19)
See the Video Recording here: https://us02web.zoom.us/rec/play/kRylDxVcfOBA4V_7onw5BrHF1JnJ_GAXXhftNIXIfFl6Vh5Hy5C1qmKgbB36E6Nelqptlud0CYpqJt2A.vEkXHEYk43c-Q878?autoplay=true&startTime=1699462986000
Access the Live Transcript here: https://otter.ai/u/iILUPbyCjeijQx0l_xXPse1l8tY?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline:-Trusts, taxes, and legal advice. (6:44)
-Trusts, power of attorney, and tax implications. (15:18)
-Trusts, taxes, and investment platforms. (23:39)
-Trust tax laws and accounting principles. (31:27)
-Setting up a Wyoming LLC for accredited investor status. (40:19)
-Trusts, property ownership, and taxes. (47:02)
-Real estate transactions and legal documents. (54:49)
-Real estate transactions and Trusts. (1:00:11)
-Trust documents and copyright dates. (1:08:34)
-Trusts, PTCs, and IRS audits. (1:15:53)
-Trusts, fiduciaries, and control. (1:25:09)
-Tax implications for Trusts with California beneficiaries. (1:31:36)
-Tax strategies for real estate investors. (1:37:45)
-Reactivating True Blue FX account and transferring funds. (1:50:48)
-Setting up a Wyoming LLC for a Trust. (1:52:59)
See the Video Recording here: https://us02web.zoom.us/rec/play/zEAF0jFjzxhf0v52Dnykaw1Q8d3vUACAeXyai7hOLb2zCRW4ft7mNhDdAhdz6dnNoKa27uhCo1txXsYU.w5pLSso21YMr_qmy?autoplay=true&startTime=1698854957000
Access the Live Transcript here: https://otter.ai/u/sC9sKzmlmuksUjSwT0Odo_pRwyo?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Amended Trust Questionnaires (ACQs)
- We are still in the process of sending out the Amended Client Questionnaires (ACQs). We will use the information provided in this document to create your Amended Personal or IP/Personal Trusts. With our integration of Salesforce, the ACQs will be sent via email from Conga Sign, not Citrix RightSignature.
*To prevent these from going directly to your spam or promotions folders, please white list the following email address: sign@na1.conga-sign.com
Instructions for setting up a Wyoming LLC can be found here:
- How to Set up a Wyoming LLC
Establishing a Wyoming Private Trust Company
- Belgrove Management
- www.belgrovemanagement.com
- John Misiag
- (321) 837-9527
Networking Group Calls:
- Every other Friday starting September 22nd, we will begin the Networking Group Calls. If you attended the event in July, we had break-out networking sessions. For the time being, you will be in the same group as you were at the event.
- If you did NOT attend the event in July and would like to be added to a group, please complete the networking form located here: https://abundancegroup.com/networkingform
Important documents/links from this call:
- Cornell Law School: 26CFR § 1.643(b)-1 - Definition of Income
Outline:-Tax laws and Trusts with valuable insights. (0:01)
-Taxation of Trusts and LLCs in California. (11:58)
-Tax implications for trusts with multiple states involved. (19:21)
-Tax implications of Irrevocable Trusts. (25:19)
-Using a Private Family Trust Company (PFTC) for asset protection. (32:09)
-Taxation and management of a Private Trust Company. (37:46)
-Deferred Compensation Trusts for executives. (46:29)
-Non-profit foundation financial management. (52:50)
-Trusts, business structures, and credit building. (59:17)
-Trusts, certifications, and legal names. (1:07:22)
See the Video Recording here: *There is an issue with the video file on Zoom. At this time, only the audio is available.
Access the Live Transcript here: https://otter.ai/u/DWzwByldKXPZ3ouARfT54O30w48?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Amended Trust Questionnaires (ACQs)
- We are still in the process of sending out the Amended Client Questionnaires (ACQs). We will use the information provided in this document to create your Amended Personal or IP/Personal Trusts. With our integration of Salesforce, the ACQs will be sent via email from Conga Sign, not Citrix RightSignature.
*To prevent these from going directly to your spam or promotions folders, please white list the following email address: sign@na1.conga-sign.com
Instructions for setting up a Wyoming LLC can be found here:
- How to Set up a Wyoming LLC
Establishing a Wyoming Private Trust Company
- Belgrove Management
- www.belgrovemanagement.com
- John Misiag
- (321) 837-9527
Networking Group Calls:
- Every other Friday starting September 22nd, we will begin the Networking Group Calls. If you attended the event in July, we had break-out networking sessions. For the time being, you will be in the same group as you were at the event.
- If you did NOT attend the event in July and would like to be added to a group, please complete the networking form located here: https://abundancegroup.com/networkingform
Important documents/links from this call:
- State of California Franchise Tax Board: Estates and Trusts
- IRS Memorandum from August 9th
- On a recent call, Dr. Gina addressed the various questions surrounding the memorandum recently released by the IRS (above). Click here to access the recording.
Outline:
*Otter did not create an outline of questions asked during this call like it has done for us in the past. We know Otter is in the process of making updates to their website. This may have caused the issue. We have reached out to support and hope this is fixed for future calls.
See the Video Recording here: https://us02web.zoom.us/rec/play/bc-1z9y_0ZpODqsoi_O_n6_plvoKk5unVnamWucGlddQQSwAO9wPFpRe9Jau5sVPRgh6dMWc9G7bpT6h.M0RMwKSR3MBNtjOq?autoplay=true&startTime=1697645184000
Access the Live Transcript here: https://otter.ai/u/2fJBoS6W2Pd9whhfECI8-x7eUm8?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Amended Trust Questionnaires (ACQs)
- We are still in the process of sending out the Amended Client Questionnaires (ACQs). We will use the information provided in this document to create your Amended Personal or IP/Personal Trusts. With our integration of Salesforce, the ACQs will be sent via email from Conga Sign, not Citrix RightSignature.
*To prevent these from going directly to your spam or promotions folders, please white list the following email address: sign@na1.conga-sign.com
Instructions for setting up a Wyoming LLC can be found here:
- How to Set up a Wyoming LLC
Establishing a Wyoming Private Trust Company
- Belgrove Management
- www.belgrovemanagement.com
- John Misiag
- (321) 837-9527
Networking Group Calls:
- Every other Friday starting September 22nd, we will begin the Networking Group Calls. If you attended the event in July, we had break-out networking sessions. For the time being, you will be in the same group as you were at the event.
- If you did NOT attend the event in July and would like to be added to a group, please complete the networking form located here: https://abundancegroup.com/networkingform
Outline:-Trust distribution and beneficial interest splits. (0:00)
-Trusts, beneficiaries, and common law. (1:44)
-Tax implications for architecture practice merger. (9:35)
-Tax implications for husband and wife business owners. (16:58)
-Tax implications of trust ownership of LLCs. (24:26)
-S Corp revocation and partnership taxation. (28:35)
-Tax strategies for a business owner. (34:09)
-Tax strategies for real estate investments. (38:21)
-Property management fees and LLC renewal. (44:26)
-Trusts, investments, and taxes. (51:21)
-Tax planning and trusts. (1:00:19)
See the Video Recording here: https://us02web.zoom.us/rec/play/0UhaWsSYGKLGpbOR03vqFKeqImnYNSQfprD9G0u1UFFHlJ3815FKUBIHMgHYMckb3phqrGi7drHxbWeX.Y0DBn59muPy7qsxv?autoplay=true&startTime=1697040277000
Access the Live Transcript here: https://otter.ai/u/tWa6g5hEK61x9LhkDw-3l3SL4EA?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Amended Trust Questionnaires (ACQs)
- We are still in the process of sending out the Amended Client Questionnaires (ACQs). We will use the information provided in this document to create your Amended Personal or IP/Personal Trusts. With our integration of Salesforce, the ACQs will be sent via email from Conga Sign, not Citrix RightSignature.
*To prevent these from going directly to your spam or promotions folders, please white list the following email address: sign@na1.conga-sign.com
Instructions for setting up a Wyoming LLC can be found here:
- How to Set up a Wyoming LLC
Establishing a Wyoming Private Trust Company
- Belgrove Management
- www.belgrovemanagement.com
- John Misiag
- (321) 837-9527
Networking Group Calls:
- Every other Friday starting September 22nd, we will begin the Networking Group Calls. If you attended the event in July, we had break-out networking sessions. For the time being, you will be in the same group as you were at the event.
- If you did NOT attend the event in July and would like to be added to a group, please complete the networking form located here: https://abundancegroup.com/networkingform
Outline:-Trusts, insurance policies, and conveyancing. (11:12)
-Life insurance and Trusts with a client. (15:27)
-Private Trust Companies and their management. (22:43)
-Private Trust Companies and sub Trusts in estate planning. (31:03)
-Investment committee fees and management delegation. (40:50)
-Trusts, taxes, and committee dynamics. (46:57)
-Trust updates, tax implications, and client questionnaires. (55:26)
-Trustee powers and registry organization. (1:03:00)
-Organizing trust documents for clients. (1:06:08)
-Trusts, successors, and relationships. (1:10:03)
-Trusts and registry pages. (1:14:32)
-Notary requirements for Trusts in California. (1:19:22)
-Private family foundations and trusts. (1:27:26)
See the Video Recording here: https://zoom.us/rec/play/julnhOvfRK6quzAo3SZ82R9FL66qE_jZ513CvCZbEJtiIymTzrL_TXOFSQL31oz8Q0BO3Yxq-8K8Mgzt.DHILIF46jcQy_n_5?autoplay=true&startTime=1696435305000
Access the Live Transcript here: https://otter.ai/u/FwDF86oZYj85JoQIbfeR2y9wmwU?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Obtain your complimentary policy review!
- Complete the form located here: https://www.abundancegroup.com/policyreview
- Afterward, email the form to ben@abundancegroup.com.
How to contact Josh and Paul:
- Paul Pichie: pichie@back9ins.com
- Josh Elohim: josh@back9ins.com
- Back9 Insurance: (818) 444-7743
If you were not able to attend the webinar on Kai-Zen, you may watch
the recording here: https://register.gotowebinar.com/recording/viewRecording/1510730510238219616/1345831254010603523/ben@abundancegroup.com?registrantKey=5795823092347922267&type=ATTENDEEEMAILRECORDINGLINK
Outline: -Life insurance and wealth-building strategies. (0:02)
-Life Insurance Trusts and their benefits. (4:23)
-Trusts, annual exclusions, and estate planning. (10:23)
-Infinite Banking and Life Insurance Flexibility. (14:30)
-Life insurance policies for uninsured individuals. (19:15)
-Trusts and life insurance for estate planning. (23:36)
-Life insurance and estate planning strategies. (27:48)
-Life insurance and Trusts for legacy planning. (32:40)
-Trust loans and collateralization. (37:42)
-Trusts and estate planning with a focus on infinite banking. (41:53)
-Leveraged legacy planning with Kai-zen. (47:16)
See the Video Recording here: https://zoom.us/rec/play/rmcxA0SbPaEo3iM01_aUTuepN6ChsYtQO6qzqs1exgdhJl2hUC3J8XMhwXnudQ6xv2ZMAAuc-NYmxkHN.YZu6wFGJQj1R8rAt?autoplay=true&startTime=1695830555000
Access the Live Transcript here: https://otter.ai/u/IanjUCGxKl_SNeGvf5w6bZ32Ook?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Amended Trust Questionnaires (ACQs)
- We are still in the process of sending out the Amended Client Questionnaires (ACQs). We will use the information provided in this document to create your Amended Personal or IP/Personal Trusts. With our integration of Salesforce, the ACQs will be sent via email from Conga Sign, not Citrix RightSignature.
To prevent these from going directly to your spam or promotions folders, please white list the following email address: sign@na1.conga-sign.com
Instructions for setting up a Wyoming LLC can be found here:
- How to Set up a Wyoming LLC
Establishing a Wyoming Private Trust Company
- Belgrove Management
- www.belgrovemanagement.com
- John Misiag
- (321) 837-9527
Networking Group Calls:
- Every other Friday starting September 22nd, we will begin the Networking Group Calls. If you attended the event in July, we had break-out networking sessions. For the time being, you will be in the same group as you were at the event.
- If you did NOT attend the event in July and would like to be added to a group, please complete the networking form located here: https://abundancegroup.com/networkingform
Outline: -Section 8 housing and tenant eviction. (0:02)
-California rental laws and exemptions. (4:56)
-Trusts, estates, and power of attorney. (11:49)
-Trusts, foundations, and charitable giving. (17:31)
-Tax returns and extensions. (23:34)
-Trusts, asset protection, and audits. (30:42)
-Gift tax returns and Trusts. (36:58)
-Loan modification and Trustee duties. (43:56)
-Legal matters and networking. (50:27)
See the Video Recording here: https://zoom.us/rec/play/XX0DIFE16TKKIq6PNP5A5N8wlyBUpagBRa2MgkY3DoDmeTLIK6f738vDakWmCUJ_XbOG1o1mGtlUguDL.9HRwHirrwu9-5xPt?autoplay=true&startTime=1695226022000
Access the Live Transcript here: https://otter.ai/u/Lc57j58Yr7qKBPC2KPK4Ar-eQIA?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Amended Trust Questionnaires (ACQs)
- We are still in the process of sending out the Amended Client Questionnaires (ACQs). We will use the information provided in this document to create your Amended Personal or IP/Personal Trusts. With our integration of Salesforce, the ACQs will be sent via email from Conga Sign, not Citrix RightSignature.
To prevent these from going directly to your spam or promotions folders, please white list the following email address: sign@na1.conga-sign.com
Instructions for setting up a Wyoming LLC can be found here:
- How to Set up a Wyoming LLC
Establishing a Wyoming Private Trust Company
- Belgrove Management
- www.belgrovemanagement.com
- John Misiag
- (321) 837-9527
Networking Group Calls:
- Every other Friday starting September 22nd, we will begin the Networking Group Calls. If you attended the event in July, we had break-out networking sessions. For the time being, you will be in the same group as you were at the event.
- If you did NOT attend the event in July and would like to be added to a group, please complete the networking form located here: https://abundancegroup.com/networkingform
Outline:-Trusts, taxes, and business management. (0:06)
-Tax implications of Land Trusts and Business Trusts. (7:04)
-Trust tax returns and naming conventions. (16:50)
Converting business entities and tax implications. (26:27)
-Tax strategies for a business owner. (38:30)
-Tax code for non-grantor Trusts. (46:02)
-Trust protector and PTC setup. (54:08)
-Tax implications of managing a private trust company. (1:03:02)
-Trusts, investments, and taxes. (1:10:30)
-Trusts and business structures for tax mitigation. (1:18:39)
See the Video Recording here: https://us02web.zoom.us/rec/play/SETVCOFPTOps5Y1p01-3lEDHMIlKrku1gREhkeaGem1tWHb7HIsMeUdcc3VVHhThrIIxpik7ORFJEEbc.7PiuDHvNK6Odfbse?autoplay=true&startTime=1694620916000
Access the Live Transcript here: https://otter.ai/u/rc4EEEn8DwRbGmKyfOz7pW9fEFc?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Amended Trust Questionnaires (ACQs)
- We are still in the process of sending out the Amended Client Questionnaires (ACQs). We will use the information provided in this document to create your Amended Personal or IP/Personal Trusts. With our integration of Salesforce, the ACQs will be sent via email from Conga Sign, not Citrix RightSignature.
To prevent these from going directly to your spam or promotions folders, please white list the following email address: sign@na1.conga-sign.com
Instructions for setting up a Wyoming LLC can be found here:
- How to Set up a Wyoming LLC
Establishing a Wyoming Private Trust Company
- Belgrove Management
- www.belgrovemanagement.com
- John Misiag
- (321) 837-9527
Networking Group Calls:
- Every other Friday starting September 22nd, we will begin the Networking Group Calls. If you attended the event in July, we had break-out networking sessions. For the time being, you will be in the same group as you were at the event.
- If you did NOT attend the event in July and would like to be added to a group, please complete the networking form located here: https://abundancegroup.com/networkingform
Outline: -Changes to the termination clause. (17:57)
-The one-year and one-day rule. (28:19)
-Questions on the questionnaire. (35:55)
-What is a successor trustee? (42:55)
-Consistency on the trustee questionnaire. (49:52)
-Transitioning the business into a Business Trust. (57:05)
-Appointment of successor trustee. (1:03:03)
-Questionnaires for meeting minutes. (1:10:49)
See the Video Recording here: https://us02web.zoom.us/rec/play/xiu5PtmU1RS8_ETIEQReMUfuuYfqJuApfwjvcFlrykTMSUyqN8sbjNw2kpVYrQzFIDjnWdZFubgUFJ9F.1XmS0Dk33pp7LzDK?autoplay=true&startTime=1694016577000
Access the Live Transcript here: https://otter.ai/u/8a3ef7WhdM-fB-Mxx2b-CvYAhUU?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Amended Trust Questionnaires (ACQs)
- We are still in the process of sending out the Amended Client Questionnaires (ACQs). We will use the information provided in this document to create your Amended Personal or IP/Personal Trusts. With our integration of Salesforce, the ACQs will be sent via email from Conga Sign, not Citrix RightSignature.
To prevent these from going directly to your spam or promotions folders, please white list the following email address: sign@na1.conga-sign.com
Establishing a Wyoming Private Trust Company
- Belgrove Management
- www.belgrovemanagement.com
- John Misiag
- (321) 837-9527
Outline:-Questions and answers about insurance. (0:02)
-What's in your ira? (8:36)
-Getting a Power of Attorney to sign checks. (13:20)
-PTC is an essential element of the trust. (19:41)
-Ways to get tax mitigation beyond the memorandum. (25:50)
-Understanding the Chart of Accounts for pets. (32:52)
-Setting up services for people to help with the process. (38:56)
-How did you get into the financial industry? (44:40)
-The role of a Trust Protector. (50:42)
-What are the fees for the Trust? (58:41)
-Contact information for the Trustee. (1:02:49)
-Benefits of being a beneficiary and trustee. (1:09:49)
-How does a Nonspecific Charitable Purpose Trust work? (1:16:09)
-How to join a networking group? (1:20:41)
-Networking groups and how they work. (1:26:36)
See the Video Recording here: https://zoom.us/rec/play/jYUFAZNqgxSYDQ0vJeoKaXXa85ZEJ-4Y6B3AjmZ1jz8t6-HOo0UDwiZGY41MPM_Bvi97RYSG0Trnlz6b.gcrqWZVPvviOWVZD?autoplay=true&startTime=1693411543000
Access the Live Transcript here: https://otter.ai/u/az7gXVKE1UTDoBxiw5z_SNd4IbA?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Amended Trust Questionnaires (ACQs)
- Starting Thursday, August 24th, we will begin sending out the Amended Client Questionnaires (ACQs). We will use the information provided in this document to create your Amended Personal or IP/Personal Trusts. With our integration of Salesforce, the ACQs will be sent via email from Conga Sign, not from Citrix RightSignature.
To prevent these from going directly to your spam or promotions folders, please white list the following email address: sign@na1.conga-sign.com
Please note: We will not be sending these to all clients on Thursday. They will be sent in waves over the next two to three weeks.
Outline:-Do I need to change the trustee? (9:23)
-Filing for an updated Certification of Trust. (19:14)
-How do you choose a trustee? (31:56)
-Paying the balance of the balance. (38:03)
-How to get a PTC from Wyoming LLC. (45:13)
-Entitlement selection is a problem. (53:17)
-Understanding the Demand Note system. (59:35)
-What is the amount in and out? (1:08:44)
-How to create an audit trail. (1:17:12)
-What is the new Demand Note? (1:25:30)
-Bookkeeping tips and tricks. (1:35:37)
See the Video Recording here: https://us02web.zoom.us/rec/play/RJsispMMGSx9GuZRCaYVol2y3_WBGo6N4wOW1Pj2gZY8fbiNmh4Xx3oikZGqZx4m6uJ9qAax6luD9xnh.MdN4w4ABo5OA36W7?autoplay=true&startTime=1692807040000
Access the Live Transcript here: https://otter.ai/u/akHeq7JJVk9eTQNyU7tJxipxHDg?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Amended Trust Questionnaires (ACQs)
- PLEASE WATCH THE VIDEO OF THIS RECORDING!
- Starting Thursday, August 24th, we will begin sending out the Amended Client Questionnaires (ACQs). We will use the information provided in this document to create your Amended Personal or IP/Personal Trusts. With our integration of Salesforce, the ACQs will be sent via email from Conga Sign, not from Citrix RightSignature.
To prevent these from going directly to your spam or promotions folders, please white list the following email address: sign@na1.conga-sign.com
Please note: We will not be sending these to all clients on Thursday. They will be sent in waves over the next two to three weeks.
Outline:-Updates to the client questionnaire and application. (8:06)
-How to find the inception date of your Trust. (14:15)
-How to fill out the questionnaire. (20:12)
-Managing a Private Trust Company. (34:35)
-How many managers do you recommend having? (47:13)
-California and the LLC. (54:37)
-Can the Wyoming Private Trust Company be the Trust Protector? (1:02:38)
-How are the names of managers and members known? (1:08:57)
See the Video Recording here: https://us02web.zoom.us/rec/play/6RmRe5f6yH3oI5gXsnrVWyowP6S9XrLQ1g6ZdfT1XAxjPAtqHoM4cMIUFtYU6_HmBFFOptpxzC_yk4N4.40PpmLs226eZQqDj?autoplay=true&startTime=1692201891000
Access the Live Transcript here: https://otter.ai/u/x2xiCfJ5pmlHvaKzIxbVclenQeA?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline:
-Updates to the Personal Trust. (0:00)
-How to change the Trust Protector. (3:19)
-How to change the status of the Trust. (9:08)
-Why do you need to notify beneficiaries of a Trust? (14:39)
-How does the tax exemption work in Tennessee? (21:25)
-How do you choose a manager? (28:54)
-Setting up a Deferred Compensation Trust. (34:18)
-The risks of a Deferred Compensation Trust. (39:35)
-How to add equity to your company? (43:40)
See the Video Recording here: https://us02web.zoom.us/rec/play/V0ZZf7TXOPVSp8xHgax7ArR6DHyKdCFld9OG5fKI1J9G8myaIpBrRAt_8OL0vEadFy6H7einIa1lowIC.MgGHVxDiO_0rDhDv?autoplay=true&startTime=1691597196000
Access the Live Transcript here: https://otter.ai/u/-DeP-Fic6G8utwcGO_1e3hN0xE4?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline:-No email communications from the system. (5:16)
-How to get a refund? (11:01)
-The benefits and pitfalls of Trust laws in different states. (16:24)
-Dealing with things they want to deal with. (21:01)
-Selling my house at basis. (33:03)
-How to get copies of the photos? (40:33)
See the Video Recording here: https://us02web.zoom.us/rec/play/1YO4s2xTghfsOPvnH4ZiPgZ_hxzqIbalaiDARoneiESpTJ_i8LSYrjS_6-JswuOjsvkihGP4F4ddefAO.C_e0jGYWjvSTJqKh?autoplay=true&startTime=1690992263000
Access the Live Transcript here: https://otter.ai/u/4T1mtV-DNB0qp1A1wl_bJEEE4xE?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline: -A look at the crowd. (4:22)
-What was your favorite part of the call? (12:38)
-How should we determine the value of the interest? (17:42)
-How to get back the capital? (26:07)
-Taking cash out of the corpus as income. (33:44)
-Selling equipment in a Trust. (41:16)
-Lease agreements and depreciation. (50:18)
-The process of writing an opinion letter. (56:21)
See the Video Recording here: https://us02web.zoom.us/rec/play/UHQOw7lce_Giw69YtM1SJjrVBpmqeS-IpDsBFnTxt8oRhKB6f2mLxEEm7xQxi8tswtxxPySM-I0WnMwz.O_3SxUKEFPkFqGty?autoplay=true&startTime=1689782811000
Access the Live Transcript here: https://otter.ai/u/Kh4lJ96DgidsWI32sc7M38w-w8g?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline:-Intro to the National Dragon Boat Championships. (0:02)
-How to add equity to a Business Trust division? (6:35)
-The future income of the business division. (14:33)
-Investing in the company. (23:14)
-Should rental income be listed as rental income and expenses? (33:58)
-Setting up a deferred compensation trust. (40:49)
-Let’s just think about this for a second. (44:22)
-Distribution as an in-kind distribution of equity. (48:42)
-Defining the cost basis. (52:37)
-Selling the beneficial interest to a Land Trust. (53:44)
-Selling the real estate. (1:02:38)
-How would the trust be divided up? (1:14:04)
See the Video Recording here: https://us02web.zoom.us/rec/play/PKXilkNgWIUClS01LCuhUFl9HdJ5I7YqrEtXdxUqiw10eQhp_jjW9GqwWsWdXzDn15e2F5xgf5wUOCqJ.6cEixtuDZDigd_zL?autoplay=true&startTime=1689177880000
Access the Live Transcript here: https://otter.ai/u/vkywYVpGSMncnccZTqZzeAmH0vE?utm_source=copy_url
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Important docs from this call:
- IRS confirms that completed gifts to grantor trusts are not eligible for Section 1014 step-up:https://www.reuters.com/legal/transactional/irs-confirms-that-completed-gifts-grantor-trusts-are-not-eligible-section-1014-2023-06-21/
- RR-2023-02: https://www.irs.gov/pub/irs-drop/rr-23-02.pdf
Outline:-What is a professional services agreement and how does it work? (0:00)
-Partnership between the Business.(6:44)
-Transitioning profits to a Personal Trust. (13:48)
-The importance of having a Trust Agreement. (21:22)
-Do you have a checklist? (27:30)
-Beneficiaries vs Trustees. (34:02)
-What’s included and not included in the rules. (40:42)
-What is a Revocable Living Trust? (47:49)
-How to structure the Business and Personal Trust. (56:04)
-Risk is all on your partner. (1:03:56)
See the Video Recording here: https://us02web.zoom.us/rec/play/drRMjRWmhYAskrzJ0I0hXUX2kfl86WHnH8sOuT3LxwmoP18lhyxKyHhc9Ey4A-_lWFZsFWE_Qmu1_bev.AfKjV4iAtNdHzNV2?autoplay=true&startTime=1688572880000
Access the Live Transcript here: https://otter.ai/u/RBnvxeoc1g4qGuHaoTSyywg6aIk?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- CONFIRM YOUR ATTENDANCE HERE: https://www.abundancegroup.com/2023confirm
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline:-Selling two apartment buildings. (12:56)
-Filing a corrected Certification of Trust. (20:21)
-Gina’s thoughts on the program. (27:54)
-Personal Trust vs. Business Trust. (46:11)
-A better way to sell the property. (51:51)
See the Video Recording here: https://us02web.zoom.us/rec/play/jHz3p0XiMB95daFilgtqL0lDMCon9UuhkTxEcIJpP1FqISf3oNrd9IxbEFU2Q6mCcShQBChCKjW9Wmbh.YytsI2nB8ZmAweUf?autoplay=true&startTime=1688141024000
Access the Live Transcript here: https://otter.ai/u/lPu9ihiV3pSO0rAwz3j4UBvt2co?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- CONFIRM YOUR ATTENDANCE HERE: https://www.abundancegroup.com/2023confirm
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline:-Naming a BusinessTtrust. (0:00)
-How do you choose the right name for an ad? (3:47)
-Can the Trust pay long-term care expenses? (5:46)
-Should the lender be notified of the transfer? (6:59)
-How to notify the insurance company. (9:03)
-Where does cost basis come into effect? (10:46)
-Using cost basis instead of fair market value. (12:53)
-What doesn’t work? (15:12)
-What are your plans for the long weekend? (16:38)
See the Video Recording here: https://us02web.zoom.us/rec/play/lJgY1zQ1YHRSTU91Z_318tYM8YTK8t4aS0-RrDfu9vFMg8GUxz8wuyB5cgv0bVqWFMnbMhGAbARa9Zra.bU8N-1XFuWHD-JcZ?autoplay=true&startTime=1687968316000
Access the Live Transcript here: https://otter.ai/u/5dpSxxNte7E5Xd5tIvols_mV9Mk?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- CONFIRM YOUR ATTENDANCE HERE: https://www.abundancegroup.com/2023confirm
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Important Documents From This Call:
- Wyoming LLC Attorney Website: https://wyomingllcattorney.com/Wyoming-Asset-Protection-Trust/Private-Trust-Company
- Voluntary Closing Agreement Program For Tax-Exempt Bonds and Tax Credit Bonds: https://www.irs.gov/pub/irs-drop/n-08-31.pdf
- Income, Estate, Gift, and Generation-Skipping Transfer Tax Consequences: https://www.irs.gov/pub/irs-drop/n-08-63.pdf
- Internal Revenue Bulletin - 2008-31: https://www.irs.gov/irb/2008-31_IRB
Outline:-Wyoming Private Trust Company. (0:02)
-Documents to read. (6:49)
-Setting up a Wyoming Private Trust Company. (14:43)
-How to get in touch with David. (21:12)
-It’s not about funds, but equity. (29:41)
-How do you get it to show up on QuickBooks? (34:31)
-Gain on sale of investments and retained earnings. (36:49)
-The problem with the Chart of Accounts. (41:55)
-Is it better to estimate the basis higher or lower? (50:17)
-How do you calculate the cost of acquisition? (54:14)
-Decanting a Land Trust. (59:35)
-Do you have any questions about the previous discussion? (1:07:06)
-Is it out of the Business Trust or the Personal Trust? (1:12:11)
-How to decant your 401k. (1:21:32)
See the Video Recording here: https://us02web.zoom.us/rec/play/BscxisL2iEP_DuFwsil1lyG0Mr97sdCRENRSgkZKh6LCSSAQ7Xn-_BwouEI9Ugg-_fqvA51Yu3HgC82K.LfbhG16BReEe5gCI?autoplay=true&startTime=1687536162000
Access the Live Transcript here: https://otter.ai/u/nGZbBKp6_OukFVamcRqDG3yQE90?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- CONFIRM YOUR ATTENDANCE HERE: https://www.abundancegroup.com/2023confirm
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline:-Resignation and removal of the Trust Protector. (7:03)
-Setting up a Business Trust for children. (15:53)
-How much does it cost to manage the Trust? (23:34)
-Transitioning the assets into the foundation. (37:29)
-The tax implications of a Charitable Remainder Trust. (42:46)
-What do you don’t know? (50:13)
-Why did you decide to become a Certified Tax Planner? (57:34)
See the Video Recording here: https://us02web.zoom.us/rec/play/BG6oRucFo7l3deywJuAZgppDdtRR_j14zSP--VCdxbYnmp47SAbaw0mUnE4SstiTxH9mjisiYTGe_5jk.TvkbHVL66EwBEpMz?autoplay=true&startTime=1687363484000
Access the Live Transcript here: https://otter.ai/u/nFYgzVtajgq7MUZC3HHoBe9qXz4?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
- CONFIRM YOUR ATTENDANCE HERE: https://www.abundancegroup.com/2023confirm
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline:-How should I price my copyrighted materials? (0:01)
-The tax mitigation of Living Trusts. (5:45)
-The importance of recording your capital gains. (12:04)
-The importance of having a title company. (17:27)
-What is the fair market value of the house? (22:07)
-Selling an investment property. (29:32)
-Getting an appraiser’s valuation. (36:46)
-Can my son be the Trust Protector and beneficiary? (41:56)
-Is a Living Trust a Statutory Trust? (47:13)
-How to add in the federal home set. (53:09)
See the Video Recording here: https://us02web.zoom.us/rec/play/Pxzpt3ePGN2HB1p5w1eBkxiaJepcohmcsI95qmX2-fc_dHyy9F4zU7ATbqlbHsnVUqLdiwWbw0oFQ0bC.v1JaCX_GcydvH2eg?autoplay=true&startTime=1686931332000
Access the Live Transcript here: https://otter.ai/u/jWIk9mVfzKnhd-d3ipq4i5LW8zQ?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
- CONFIRM YOUR ATTENDANCE HERE: https://www.abundancegroup.com/2023confirm
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline: -Why do you need an EIN number? (5:08)
-What is an escrow company? (11:21)
-The difference between a Personal Trust. (18:09)
-Updates to the client questionnaire. (24:26)
-How to get a sign-off? (30:00)
-Are you planning on adding a Trustee to the bank account? (35:05)
-Working on networking and networking topics. (41:27)
-When do you want to implement your plan? (47:38)
See the Video Recording here: https://us02web.zoom.us/rec/play/EyX_Tc1auagSWwkFgu4z-abWol8RsbZ-oHlpzVgSvxeiH-xflYSRFDc1slvYjBWG9dj8L7Zob08LTOUm.LhqYIS7k-aRXo9ql?autoplay=true&startTime=1686758844000
Access the Live Transcript here: https://otter.ai/u/HFxT3xMe2ItrUwAQ4_XVKapQxbI?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline: -Can a Personal Trust be utilized to circumvent the IRA rule. (6:18)
-Have a good reason for what you’re doing. (12:51)
-Setting up a statement of membership interest and management interest. (19:44)
-How to amend the agreement. (26:16)
-Loan money from Personal Trust to Business. (33:58)
-The business division vs the operating division. (41:11)
-How to open a Wyoming Private Trust. (50:20)
-How complicated is it to create a Trust? (55:59)
-What’s the problem with the business? (1:03:50)
See the Video Recording here: https://us02web.zoom.us/rec/play/WTTSAcFI8sPJDFw3B7vYHRxcIcDNvKdn6LQuBnZlT2_Htki6Gq48cSctXIDniAQmCzacu1dF3hS2chAG.p7L80ab_e56UCCIz?autoplay=true&startTime=1686326615000
Access the Live Transcript here: https://otter.ai/u/L_3QY9L9JxLF15Z5EmqB_CIZgig?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline:-How much capital gains are you getting taxed? (0:00)
-The importance of having a Trust. (4:26)
-How do you get liability? (11:32)
-How do you notify tenants of a new owner? (15:29)
-The importance of having a Trust Agreement. (22:14)
-How do you report income to California? (27:49)
-California’s tax code. (36:32)
-Risk of not filing your taxes. (43:41)
-What is a Dynasty Trust? (49:54)
-Different rules for different types of discretionary trusts. (55:29)
-How did you become a tax accountant? (1:01:51)
-Updates on the Abundance Group. (1:09:16)
See the Video Recording here: https://us02web.zoom.us/rec/play/n4WVgxwhDkD-MX2_NybP2oAaLKZgFbq8G0u0EhTIm0DEJWmSMhMitzYcI399Zn13qFMPSHHQS31Ltio.gwjK0LgKKgh060dJ?autoplay=true&startTime=1686153928000
Access the Live Transcript here: https://otter.ai/u/5Fowcx8ZaWywjaRO9McsAObzFvc?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Important links from this call:
- IRS Handbook 1: www.abundancegroup.com/irshandbook1
- IRS Handbook 2: www.abundancegroup.com/irshandbook2
- www.abundancegroup.com/extraordinary
Outline: -Where to get quarterly updates on the Trust? (6:53)
-Canceling the interest payment. (15:16)
-Where to find the demand note information? (20:11)
-The difference between a note holder and a borrower. (28:02)
-Selling assets to the Trust. (32:09)
-Can’t you just take the money out and put it in the Trust? (41:04)
-Questions that don’t relate to demand notes. (46:30)
Access the Live Transcript here: https://otter.ai/u/7o1GC7X5qk_4YWE2dzNZ355IO6Q?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline: -What is a GST? (6:39)
-How does generational skipping play a part in this? (11:15)
-How to handle a Trust tax question? (14:03)
-What to do if you don’t pay your taxes? (20:48)
-What are capital gains and dividends? (27:03)
-Transitioning into a manager-managed LLC. (32:30)
-Operating agreement and amendment. (36:14)
-How to sell the business. (42:44)
-When is the transaction going to happen? (49:20)
See the Video Recording here: https://zoom.us/rec/play/AG-RxEQ2ZHtRi_jzrI7zn8xkoRJjYV1JFVeFCVGfgq60GLMjZvJxVJUSqHvoClj7_e6-gSZszK4tIvET.PgAaA0kTnEnSE5ix?autoplay=true&startTime=1685549261000 Access the Live Transcript here: https://otter.ai/u/g0GQW16iMCkgzCGxSTPmpmJJkJk?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline: -What is the effective date to transfer property? (3:39)
-How to do your own bookkeeping? (11:00)
-How do you change the title to the Trust? (15:00)
-How long is it to set up a Trust company? (21:32)
-A property management agreement. (25:17)
-The best way to convey a rental property to a Business Trust. (35:59)
-Personal vs business accounts. (43:41)
-Cancelling interest on accounts payable. (47:24)
-How to acquire health insurance in the name of the Trust. (53:42)
-Transitioning into a Wyoming LLC. (1:01:21)
-Why can’t we put passive income into a Trust? (1:06:23)
-A client question about transfer taxes. (1:11:36)
-What is a disregarded entity? (1:16:42)
See the Video Recording here: https://us02web.zoom.us/rec/play/s5SPXbfVyUY15EmEh1xLuvW-o0S0OZpUBSEVjNPQ9kfp26Ippt26H_Gm4b0cno5booHAoaPknQdn6Gtn.mItX33BOxPd1CgYV?autoplay=true&startTime=1684944138000 Access the Live Transcript here: https://otter.ai/u/mN7h0PZsywM-kGY4rJWSRViIDM8?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline:-Karen’s advice on how to close a deal. (9:12)
-The interest on the Promissory Note. (18:38)
-Short-term accounts payable account. (28:52)
-What happens if you’re not a Trustee? (37:43)
-Gift tax return and interest. (43:38)
-Selling the property to the Trust. (47:42)
-Asset protection and asset protection. (54:33)
-Cancelling the interest on your property. (59:55)
-How to make a demand note. (1:04:43)
See the Video Recording here: https://us02web.zoom.us/rec/play/Eaf1ne1jxCZdpNG94LeIFdFtvEVdeU34hnBp4GT-u8CV0YoYtPttmGNdEwvz2SnKqENsuRk9NNllLpQ9.Y7g6LoJq3Ie_nA5t?autoplay=true&startTime=1684512232000 Access the Live Transcript here: https://otter.ai/u/GcplKoQlrmzVPcWkl4x37UhUZcI?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
*Important from this call:
- Demand Note Interest Approach: https://drive.google.com/file/d/1nL_UpDKA3FtGTr8cWZqrPbZHr2yj-iSb/view?usp=share_link
- LA Law Center, PC: https://www.abundancegroup.com/lalaw
- Change of Administrative Address: https://drive.google.com/file/d/1L43a_SpzH8oXCv-N96o0OMoNuo_tV2Ii/view?usp=sharing
- Example Operational Rules: https://drive.google.com/file/d/1SsYCLWewIeGAd49O0lTJfX0YK19Hyi6k/view?usp=sharing
- Articles of Formation: https://docs.google.com/document/d/11VpfHWuOvwH8c8AlafFAQEZWzgx97S3d/edit
- The California Long-Term Care Insurance Tax, which we expect to pass, would take effect on January 1, 2024. If you currently don't have LTCi, we highly suggest attending one of the two upcoming webinars! Each session will last around 15 minutes. This is a FREE educational webinar. Afterward, you may reach out to Ben at ben@abundancegroup.com to obtain your quote.
Saturday, May 20th at 10 a.m. Pacific: https://register.gotowebinar.com/register/2548603512926541920
Wednesday, May 24th at 7 p.m. Pacific: https://register.gotowebinar.com/register/5318364562759714656
Outline: -How much taxable income can you expect to receive? (3:42)
-Is it necessary to change the administrative address to South Dakota? (9:36)
-Operational rules for a Business Trust division. (14:48)
-How to calculate interest income. (25:18)
-How the demand note system works. (30:39)
-Will the demand note system be part of the application? (39:24)
-What do we do with the accrued interest? (44:56)
-Using waveapps.com for trust accounting. (51:21)
-How to transfer data back to Google sheets. (57:24)
See the Video Recording here: https://us02web.zoom.us/rec/play/4r-hhHOCNS8UlJCi2R1mCL1zkDbl26bPEKbm0_mL4Tp8IF41a0t_3PgFfRZve9_awtIZ3Pf9hzx9kuNK.DR5Vlr7bz_CENair?autoplay=true&startTime=1684339328000 Access the Live Transcript here: https://otter.ai/u/-cA5RFsMsxSuB_8mwdm1LxTN-HU?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
*Important from this call:
- Demand Note Interest Approach: https://drive.google.com/file/d/1nL_UpDKA3FtGTr8cWZqrPbZHr2yj-iSb/view?usp=share_link
- The California Long-Term Care Insurance Tax, which we expect to pass, would take effect on January 1, 2024. If you currently don't have LTCi, we highly suggest attending one of the two upcoming webinars! Each session will last around 15 minutes. This is a FREE educational webinar. Afterward, you may reach out to Ben at ben@abundancegroup.com to obtain your quote.
Saturday, May 20th at 10 a.m. Pacific: https://register.gotowebinar.com/register/2548603512926541920
Wednesday, May 24th at 7 p.m. Pacific: https://register.gotowebinar.com/register/5318364562759714656
Outline: -What is the area where the company is based? (3:40)
-What does this mean for tax compliance? (7:02)
-Cancelling interest on the 1099. (12:32)
-What about taxes on other income? (16:51)
-Selling assets to the Trust. (22:50)
-Do commodity investments need to be treated differently? (30:04)
-Filing for an extension. (37:41)
-How do you create a tax-efficient Trust? (39:19)
-California taxes and tax liability. (46:39)
-The importance of location in real estate. (50:53)
-Setting up a Wyoming LLC. (56:55)
-Do you still recommend not using a name? (1:01:32)
-How to avoid taxes on long-term care insurance. (1:09:00)
-How to get help with your taxes? (1:17:03)
See the Video Recording here: https://us02web.zoom.us/rec/play/HZ1XPUNFJY6lCXT9QaF-QV2Bg4RoPDOn9QTlvekegh1GWIsxZ0hkZbSMzusQ1vkMm3manOIB_yD46KBo.sjOdmLqGzp3fNCWW?autoplay=true&startTime=1683734722000 Access the Live Transcript here: https://otter.ai/u/hGwM-ztp4sR-UfqwUzZ6oa8G2hE?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
*Documents from this call:
- Updated Chart of Accounts for Personal, Business, and Foundations: https://docs.google.com/spreadsheets/d/1hymv8bIaSPCXqowvylYnatwaq2HzH2qJ734x8gUtVuE/edit?usp=sharing
- SOI Tax Stats - Examination Coverage and Recommended Additional Tax After Examination, by Type and Size of Return - IRS Data Book Table 17: https://www.irs.gov/statistics/soi-tax-stats-examination-coverage-and-recommended-additional-tax-after-examination-by-type-and-size-of-return-irs-data-book-table-17
- Compliance Presence | Internal Revenue Service: https://www.irs.gov/statistics/compliance-presence
- Audits Records Request | Internal Revenue Service: https://www.irs.gov/businesses/small-businesses-self-employed/audits-records-request
Outline:-Using Quickbooks for both Trusts. (5:47)
-The reason for the difference between lease agreements and professional services agreements. (12:25)
-How to convert a C Corp to an LLC. (17:20)
-Tax returns and auditing. (25:46)
-Fiduciary vs. Trust protector. (30:54)
-Is it too late to become a beneficiary? (39:00)
-What type of insurance providers do you recommend? (48:49)
-How much is an IRS audit? (56:25)
See the Video Recording here: https://us02web.zoom.us/rec/play/bZd8b033OeO0it-ynnuAFEdmwE0YccEw97njAJl48Z91gzkcIn2sZQvHcz7cVQRF_R40SUuhNjsSvo5C.HyMzfb0dntyRaPuY?autoplay=true&startTime=1683302776000 Access the Live Transcript here: https://otter.ai/u/vgqyqo8xYXpCAkiqQZ47sXJGfpA?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
*Documents from this call:
- How Short-Term Rentals are Taxed: https://markjkohler.com/how-short-term-rentals-are-taxed/
Outline:-How do you track extraordinary dividends?
4:15
-The fair market value of household furnishings.
11:47
-The exception to the rule for household furnishings.
17:46
-How much should you expect to pay?
23:12
-Paying contractors through a Business Trust.
33:38
-Income from referrals and property management.
40:04
-Passive income and capital gains.
50:58
-Dividends and capital gains.
56:36
-Short-term leases vs. long term lease agreements.
1:04:16
-How to get out of a long-term lease?
1:10:29
-How to convert passive income into active income.
1:17:05
See the Video Recording here: https://us02web.zoom.us/rec/play/fVaNrDNig-N6LKjOvTYRdaoKF0k1vF8uTgwdGcVoyTiSD1pLIGSoEA9EyOWE84xEt4MqI2TY7c6Hsq2B.kkeECDvKfIhGWpVi?autoplay=true&startTime=1683130007000 Access the Live Transcript here: https://otter.ai/u/pE851bkbohE8N4iZiTG9JHp540c?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
*Documents from this call:
- Instructions for Creating Divisions to Own Real Estate from Decanting Land Trust: https://docs.google.com/document/d/1WeQf8rDeQe_ScnapcA4v_ZOE31loc-TEXMicpmGjDzM/edit
Outline: -How do you structure a Business Trust?
4:41
-Who are the beneficiaries of the property?
13:21
-The difference between a Land Trust and a Business Trust.
21:49
-The problem with using addresses to draw legal conclusions.
28:52
-Do we need a management agreement with the property management division?
36:19
-How does a Trust Transfer trigger a transfer tax?
44:00
-How would a division be organized?
53:11
-What is a related party transaction?
1:01:11
-The difference between fair market value and base sale price.
1:07:50
-How much should we value this business?
1:17:09
-What can you do with the charitable public foundation?
1:20:45
See the Video Recording here: https://us02web.zoom.us/rec/play/XzPH27O18V90xLMeWEUUFsapJfRM6B91ifdSnyJxt-2kw2HP_qUzu-XzlN2yO40wgEHZLD2JKRijzo7A.nmhVW0ZUqDoT96B-?autoplay=true&startTime=1682697991000 Access the Live Transcript here: https://otter.ai/u/7UZ0AAXP2tURhancFcPvP9dD1as?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
*Important links from this call:
- Pakmail (Mail Services): https://www.pakmail.com/
Outline: -How did you decide to become a coach?
1:23
-How to find the date of a call?
4:25
-How to get a debit card through the bank.
15:34
-Power of Attorney and credit cards.
22:42
-Virtual mailbox vs. physical mailbox.
27:13
-The role of a Trust Protector.
32:39
-What kind of bank account are you recommending?
42:18
See the Video Recording here: https://us02web.zoom.us/rec/play/_gMZar483XU1TQk0H-6SbFW-7AD9bQJS-IKhqsSKF4j7_dcEGxG05yHQXGtZSDPqknzv3tocDqqg_6q8.pGN3fG8RPA1RusNW?autoplay=true&startTime=1682524879000 Access the Live Transcript here: https://otter.ai/u/qKuax1KtgyOcRXB3TvmPvgUdewg?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
*Documents used on this call:
- Revoke General POA: https://docs.google.com/document/d/1Qpvsk_x1RS6CqPQdPSpIN7VoliTeYqIchGOs2t78IDc/edit?usp=sharing
- Trust POA - Sign Checks: https://docs.google.com/document/d/1Brtuiyb8nOYK4J_5Z06S2w7L_Kxj_T0ZuC0AVdJ4eu4/edit?usp=sharing
- Power of Attorney: https://docs.google.com/document/d/1cs2w2qlb5HXGFWjazqgTkbdnsUSJb3g44IaFlov71eM/edit?usp=sharing
Outline:-Balance sheet requirements.
6:58
-What type of entity is a division?
13:33
-The three-step process for creating a Trust.
18:51
-Transitioning into a Personal Trust.
24:13
-Two ways to handle closing documents.
30:23
-Importance of listening to the podcast.
36:22
-What is the difference between a Business and Personal Trust?
45:19
-What is a straw-man transaction?
53:20
See the Video Recording here: https://us02web.zoom.us/rec/play/WbtCBKj45XYwDbeoYJ0_G-AvqSnxVUJbtFjFjWi0M24wdYuK_5jA5hA0xEuhKGaXYZujN_zGmQp8NeM8.br7CiP6GURuoPc4L?autoplay=true&startTime=1682092962000 Access the Live Transcript here: https://otter.ai/u/RlIswB3EWshUaTPplD-hAYR01es?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
*Documents used on this call:
- Application for Delivery of Mail through Agent: https://about.usps.com/forms/ps1583.pdf
Outline: -How to get a picture in your spreadsheet?
5:03
-Bills and utility bills.
11:36
-Drivers on-demand question.
19:41
-How do we account for Capital Loss?
25:50
-How do you determine where the administrative address of your Trust is?
34:58
-Who are the beneficiaries of the Business Trust?
43:48
-Examples of maintenance and support.
52:34
-Conveying assets into a Business Trust.
1:00:41
-Business transfer and tax considerations.
1:07:33
-What is a G-of-trust conveyance?
1:13:04
-What is an equity stake in a business?
1:20:28
-What happens if the Trust becomes insolvent?
1:29:15
-Who should be the Trustee of the Trust?
1:38:36
See the Video Recording here: https://us02web.zoom.us/rec/play/LE-k9qlt7bZpiL7tfdAbDqInw48R1SAh3qicU1w_pugzAT4jGaQwzU_B-urrvOfrnqtl8_WiZx3UeSnY.hbXjbjc8fq4xyrx7?autoplay=true&startTime=1681920121000 Access the Live Transcript here: https://otter.ai/u/RrV8xCXxfHpTENrtSOI92SSkC10?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Lost or Misplaced Your EIN?: https://www.irs.gov/businesses/small-businesses-self-employed/lost-or-misplaced-your-ein
Outline: -How to structure a Personal Trust.
4:11
-Earning interest on Trust funds owned by the note holder.
11:24
Passive income vs. active income.
17:20
-Active vs passive real estate.
22:49
-Methodology of creating a Personal Trust.
34:31
-What is an adhesion contract?
39:24
-What’s the purpose of getting involved in probate?
45:39
-Filing a tax return.
54:25
See the Video Recording here: https://us02web.zoom.us/rec/play/jj48MJw9Zu8O4euPX0dQ58P7hcEPYhf6Lxo9NnXsbs7hfIRAk60wwsAWX378op8kJzI4-x9B38_eW7A5.RIxdNhZ35ASSpsFZ?autoplay=true&startTime=1681488469000 Access the Live Transcript here: https://otter.ai/u/fggX5G5N_EFULQCBxvi2AP-n0ow?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline: -Can you outright gift property to a Trust?
0:04
-Gifting assets to the Trust.
11:32
-A breach of fiduciary duty.
18:55
-How did you do your 1099 reporting?
26:21
-What kind of education do you want to do?
34:21
-How can you unwind a Grantor Trust?
40:25
-How to convey mineral rights into a Personal Trust?
46:46
-Most pressing issue at the moment.
50:37
-The definition of a durable Power of Attorney.
55:31
-What is a durable Power of Attorney?
1:00:36
-What happens if a trust buys property in a foreign country?
1:08:42
See the Video Recording here: https://us02web.zoom.us/rec/play/QNN7O-jtjkihuFDfrUqz49Ftdl6_qAczz5Q-Bp5rypG66eeOXHqvEibxLQkLKW-D2RRYZWLLxA8sKuqs.ndTEdMW-Db4G6uyh?autoplay=true&startTime=1681315338000 Access the Lives Transcript here: https://otter.ai/u/3yz7805zDvGMX1y0L-0TYxYSyTs?utm_source=copy_url Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Important documents from this call:
- Publication 537 (2022), Installment Sales: https://www.irs.gov/publications/p537#en_US_2022_publink1000221607
Outline: -What is the process for selling the notes?
1:07
-How to get a Land Trust deed?
6:28
-Selling the property for 100,000.
13:03
-Selling a note receivable vs assignment of notes.
21:03
-Selling a property to a Trust.
27:57
-How long does it take to sell a property?
37:33
-Serial numbers for foundations and implementation.
44:53
-Selling a property to a Trust.
50:02
-How do you add a successor trustee?
58:19
-Do you need a Power of Attorney?
1:05:25
-Power of Attorney vs. Trustee.
1:13:20
-The Power of Attorney form.
1:20:05
See the Video Recording here: https://us02web.zoom.us/rec/play/-fRF9wReeULP_eEL5lYmjKRCfaDnonsygHqxwmqnDGCiS5I_mMqQfBThpkwld_wlqb5BQBGvLkbD3S2X.W1ufqWIn5Omd3R0b?autoplay=true&startTime=1680710547000 Access the Live Transcript here: https://otter.ai/u/Seq5baJos5Txo6e34N48EcGCbQ0?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
NA-Trust: https://drive.google.com/file/d/1SsYCLWewIeGAd49O0lTJfX0YK19Hyi6k/view?usp=share_link
Chart of Accounts Draft for Personal and Business Trusts: https://docs.google.com/spreadsheets/d/1hymv8bIaSPCXqowvylYnatwaq2HzH2qJ734x8gUtVuE/edit?usp=share_link
Outline: -What goes in the last blank.
7:40
-How to change the name of the land Trust.
12:18
-The problem with the name of the division.
18:26
-The trustee has all the power over the Trust.
26:20
-The difference between a divisional Trustee and a Co-Trustee.
30:55
-Operational rules for operating rules.
40:07
-Operational rules and divisions.
46:09
-Operating agreements and documentation.
51:30
-How does the bargain sale rule apply?
58:14
-How to determine fair market value.
1:03:34
-Where to find more information about foundations?
1:10:50
-Can a beneficiary be a power of attorney?
1:14:49
-Where is the chart of accounts?
1:23:58
-What do you mean by promissory notes?
1:29:36
-Podcasts vs. Rss feeds.
1:35:46
See the Video Recording here: https://us02web.zoom.us/rec/play/uJsZhDqGwsDg1mbyeFlxfG-Fpt47fpjCTDUFW21W-7wrhU8yrfgLu-NnkbpX6QMoqgkZxbjUATFfqqxh.BRFBiIVM-kKSEC2A?autoplay=true&startTime=1680278670000 Access the Live Transcript here: https://otter.ai/u/kz6655e-hHsPpofvl9PfhTNAlzQ?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
26 U.S. Code § 7872 - Treatment of loans with below-market interest rates: https://www.law.cornell.edu/uscode/text/26/7872
26 U.S. Code § 501 - Exemption from tax on corporations, certain trusts, etc: https://www.law.cornell.edu/uscode/text/26/501
26 U.S. Code § 483 - Interest on certain deferred payments: https://www.law.cornell.edu/uscode/text/26/483
Deficit Reduction Act of 1984: https://www.irs.gov/pub/irs-tege/eotopica85.pdf
Outline: -Operating your Business Trust.
11:44
-Taking out a loan for 100,000.
15:22
-Moving cash from a refinance to a Trust.
23:31
-Are we allowed to transfer real estate to a Trust?
29:41
-Open a Personal Trust in 2021.
36:34
-Divisional trustee vs. Trust protector.
40:54
-How do you decide what to keep in the Trust?
56:02
-A demand note doesn’t have any interest.
1:03:02
-Should I file a tax return for interest income?
1:09:27
-How to determine the interest rate on a loan?
1:15:42
-What to expect on this week’s call?
1:22:26
See the Video Recording here: https://us02web.zoom.us/rec/play/yUwEBxV4irOZcAEGknRV1HNt3Fk_NmxgRswbKF1sRuDW70Okl26154k2n2Fd9rHUo22G2z8hfZfoK7w.RrvqnpGcMP7xLyLZ?autoplay=true&startTime=1680105787000 Access the Live Transcript here: https://otter.ai/u/wKJ2qvhZ_MJ4FLw7gJTN9nwT2rQ?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline: -How to prepare your tax returns?
5:57
-Doing agreements between me as trustee and the tenants.
11:47
-The assignment of leases.
16:47
-Who does the money go to?
22:01
-Banks that give pushback.
29:11
-How to get out of the LLC.
37:17
-How to get a personal guarantee?
46:15
-The problem with the Wyoming LLC.
54:22
-Foreign-filed LLC.
1:01:25
-How to convert passive income to active income?
1:05:43
-What is a property management checking account?
1:11:30
-Selling to the trust at fair market value.
1:17:51
-What’s on Gina’s radar?
1:22:48
-Selling a property at a cost basis.
1:30:24
See the Video Recording here: https://us02web.zoom.us/rec/play/OW5ul8EM50hqspjsZ47l-dMZQ9uD6Xp4WzzI_nRqeq99ZeQFXkxrk9tBRKKvzOW0vKRweBlCpulUcgXM.2ocxdCzInLdV228K?autoplay=true&startTime=1679673754000 Access the Live Transcript here: https://otter.ai/u/NdvegvY1d-x8hj9W_eYANqlzARU?utm_source=copy_url
Register for our first Annual Mastermind and Networking Event here: https://www.abundancegroup.com/2023event
- There are a limited number of rooms blocked for the event with discounted rates available. Please book your room sooner than later to guarantee these rates!
Looking to invest in life insurance and leverage your Trust?
- Email Ben at ben@abundancegroup.com, or use the link below to receive your free quote!
- Get your free quote here: https://www.abundancegroup.com/insurance
Outline: -Why depositor accounts are more important than shareholders?
5:00
-How many of you have family trusts?
11:35
-What is an interest-paying account?
19:11
-Selling cash to the trust and reducing interest.
25:33
-Do you need to file certifications of trust separately?
31:26
-Don’t worry about 1099’s.
38:12
-How low is your income coming in?
43:21
-How to reduce the demand note.
49:21
-How much before taxes do you even pay?
56:21
-Selling cash to a trust and interest.
1:07:03
See the Video Recording here: https://us02web.zoom.us/rec/play/9Q4GqrT6g8UTDENkhxbwLwiyp7_AEDBNyHqBNdQ1k0h1IR7FvyyUooaMy9oj27ZhT6MGT07YAxoPfCdn.M8oaA_YwsYDItarN?autoplay=true&startTime=1679501231000 Access the Live Transcript here: https://otter.ai/u/JOeD9O5n8sK8unA4ZlHMpCHujag?utm_source=copy_url
Outline: -Can you keep your TIN number?
2:12
-What about a reformulation of the formation date?
4:56
-How long does it take to dissolve an LLC?
11:37
-How to change the classification of an entity.
13:26
-How do you report credit to the trust?
20:13
-How do I get the deed to change the name of the trust?
29:34
-What happens with accrued interest on demand notes?
36:10
-The benefit of adding interest to the demand note.
43:09
-How do you keep track of demand notes?
46:20
-The 1041 return and interest expense.
55:26
Why aren’t we reporting the 1099s?
-1:00:30
How do you look at this information?
-1:06:14
Running the numbers right.
-1:14:13
How to avoid tax evasion?
-1:16:38
-Can a trust be used as a conduit for the interest?
1:21:17
See the Video Recording here: https://us02web.zoom.us/rec/play/1ZkuUTmR0IickpL50W-mh39OKq0FtdN4iJAg8NuJSS8iiECOrK3dIIxTWvW7TQ4_xenFgO4DAaNfJCgU.p9ek9UfbIGikch6Y?autoplay=true&startTime=1678896383000 Access the Live Transcript here: https://otter.ai/u/Jp9GX41pFjRLMvVBqk56GxZ4he8?utm_source=copy_url
Annual Mastermind and Networking Event Booking Link: https://www.abundancegroup.com/2023event
- For the event: Please email adminteam@abundancegroup.com and let us know which package you registered for and if you reserved a room through the booking link on the following page.
- Important: There are a limited number of room blocks with discounted room rates available. These are given on a first come/first serve basis. If you plan on attending the live event, please book your room sooner rather than later!
Looking to invest in Life Insurance and leverage your Trust?
- Obtain your FREE quote here: https://www.abundancegroup.com/insurance
Outline: -A free celebration and it's only a celebration.
6:36
-Can a C Corp convert to an LLC?
13:52
-What is the legal name of the trust?
22:03
-What is an IP/Personal trust?
31:30
-The title of any trust property.
40:02
-Updates to the Master’s Trust.
45:58
-The appointment of a trust protector.
52:06
-Will beneficiaries be listed on schedules or in the body of the trust?
59:04
See the Video Recording here: https://zoom.us/rec/play/aM_NwXAk-3zwn6YBFl7O62W4uY8KgxmvmETW9_F7mtX_9IS3UTbeodql8w8UssDqmN-CTh5x0KpVXZxZ.WgOapO9w8hpnbdHc?autoplay=true&startTime=1678295062000 Access the Live Transcript here:https://otter.ai/u/gmHDjsHou6F8V6hJWaa73SGaN0s?utm_source=copy_url
Outline:
-An empty house in Las Vegas.
1:24
-What happens if something goes wrong with the title insurance?
4:40
-Changing the trustee of the personal trust.
16:00
-Blank rolls downhill and everyone rolls downhill.
26:05
-Notarizing documents.
29:06
-Notarization of personal property.
33:22
-The importance of having a digital signature.
40:23
-Todd’s taxes.
44:27
-The Dmv website is broken.
46:30
-How to get a credit builder’s discount.
52:37
-How to allocate time to your business calendar.
58:02
See the Video Recording here: https://us02web.zoom.us/rec/play/lMBoHNis9objVCW88687y7ibiPQNlV4k8258fvzdAXWZTgnnU_4ShTSdxjaW_SFjUZMKCn0gQgzQLPo.upCUsBqhR8nabZgG?autoplay=true&startTime=1677863633000 Access the Live Transcript here: https://otter.ai/u/8bIFL8ik5dpF2Tydz0NkdsofEbU?utm_source=copy_url Looking to invest in Life Insurance with your Trust? Get your free quote now! - https://www.abundancegroup.com/insuranceOutline:
-How to use a trip as a deduction.
6:20
-How do you create a template for your foundation?
12:21
-How to get access to the new client portal.
17:23
-Personal guarantee for cash.
24:19
-Should we keep the llc or not?
31:06
-How to apply the annual blended rate for 2022.
40:20
-How to book the interest on the accrued interest.
46:36
See the Video Recording here: https://us02web.zoom.us/rec/play/GBYkvbh8oAm0YrzdVwonup0C8SJlqiSobxtBZHGj-GhAb048hp5kwBn2XFiGI-IAhThsrUi7x1l0srI5.2OFUBzTeDN8nJBp7?autoplay=true&startTime=1677690128000 Access the Live Transcript here:https://otter.ai/u/4hAskdz-3TAxOQ2S6FIYeD7WKj8?utm_source=copy_url
Outline: -Transitioning from a trust to an llc.
9:50
-How to start building a credit score.
16:15
-Do you set up a Dmv number?
23:39
-Converting an S corp to an llc.
31:33
-Selling the business and getting permission.
38:41
-Transfer taxes and transfer taxes.
47:57
-Transitioning from the llc to the trust.
53:53
See the Video Recording here: https://us02web.zoom.us/rec/play/8tJjK1dABvynflMRRNiX2lTIKaAhtvYu-G6XBOHhVu6h6Jc7Zyq6DZ9tjnh44oDAesizWJwl4i9FkOfj.wNn1wlFaLnv7crV0?autoplay=true&startTime=1676653727000 Access the Live Transcript here:https://otter.ai/u/Dt33stDmLgoVS_srHgXh1GC6Fco?utm_source=copy_url
Outline: -Red flags to check off.
3:02
-Paying property taxes.
9:36
-The red flag of a revocable trust.
13:39
-Do your homework and file your dnb filing.
18:16
-How to prepare an expense report for a trust.
26:12
-A trust can be reimbursed for an expense.
30:38
-The contract for the sale of the property.
36:16
-The date of inception of the trust.
42:57
See the Live Recording here: https://us02web.zoom.us/rec/play/6uFE_jp0VLDrFj6xrQhs2yAroBb0E93J1Wiwh1P_TDTNNb4Xm70oHEmHJ6aenhZrqjwQ29XbKMpY7gOO.Y5TpKB56wOzEMmjI?autoplay=true&startTime=1676480705000 Access the Live Transcript here:https://otter.ai/u/C7R3Jh6Fywk_vOwSuymGEIDG_Sk?utm_source=copy_url
Outline: -How do you revoke a revocable trust?
5:35
-Do I need to get a new lease agreement?
9:40
-Do you need to change the tenants?
13:51
-How does this impact the tax situation?
18:09
-Who is the original trustee?
22:14
-Steps to help clients migrate from llc to personal trust.
25:58
-How do we deal with an asset in texas?
29:35
-Where to find the steps to create a business trust?
33:17
See the Video Recording here: https://us02web.zoom.us/rec/play/7zc3Jtrnu4x1K5RiPGyOfclOFcnCBZfFvz-VYKHCyTGDyEcl9WH5jnKHLy_Y2R6qeascpinx3GOlXMBV.ppoy9_1scOsG7ska?autoplay=true&startTime=1675875880000 Access the Live Transcript here: https://otter.ai/u/4y4z2K1jrDmrzYAv3SNAQFIQA-U?utm_source=copy_url
State of California Estate and Trust Filing Requirements: https://www.ftb.ca.gov/file/personal/filing-situations/estates-and-trusts/index.html#:~:text=The%20trustee%20may%20have%20to,to%20a%20California%20resident%20beneficiaryOutline:-Having a diagram to make the process easier.
5:00
-Filing a class-action lawsuit against a return preparer.
9:15
-How to get an attorney to work with you?
13:47
-California’s requirements for a trust return.
17:31
-What are the cons of having to file taxes in California?
23:57
-How do you define income in Cali?
32:03
-Capital Gains taxes.
41:14
-Money flows in one direction.
50:42
-Why can’t you divide the property up?
1:00:13
-Can you make distributions to a sub-trust?
1:06:23
-How do you engage with the partners?
1:11:46
See the Video Recording here: https://us02web.zoom.us/rec/play/BYRfgH8qDXg9tTBYUADe1HpzEcp2MNFTB3niFP75I_98VrWPhWmJfr6hb8fsXXm0h-ufRgAaEnrH4guc.LhrdaQg64BlmZYK9?autoplay=true&startTime=1675444116000 Access the Live Transcript here: https://otter.ai/u/qiIPE9o5_VJ3HeMzGpdxxTaMhcM?utm_source=copy_url
Applying for Credit Cards in the name of your Trust. We recommend:
- Divvy: https://www.getdivvy.com
- Chase Ink Business Card: https://www.referyourchasecard.com/21n/U4F6BCDH7R
How Many Witnesses Are Required for a Trust in Florida?:
https://www.florida-probate-lawyer.com/blog/2012/june/how-many-witnesses-are-required-for-a-trust-in-f/#:~:text=So%20the%20answer%20to%20the,to%20schedule%20a%20free%20consultation.
California Filing Requirement for Estates and Trusts: https://www.ftb.ca.gov/file/personal/filing-situations/estates-and-trusts/index.html#:~:text=The%20trustee%20may%20have%20to,to%20a%20California%20resident%20beneficiary
Outline:
-Where to find a land deal?
6:59
-The importance of having witnesses for a trust.
11:09
-The best way to do real estate wholesaling.
17:49
-What does it mean to file a state tax return?
24:58
-California vs. Pennsylvania.
31:18
-Fiduciary accounting and taxes.
39:12
-A private lender to the llc.
45:25
-How much interest should I be paying in taxes?
51:24
-Do you need page numbers?
1:05:38
-Steps to take to create a digital trust.
1:14:35
See the Video Recording here: https://us02web.zoom.us/rec/play/N6VumcymG_UJ1vfKrfnPeOcfwmT8MxbC3vGBecN4mp--zM6R5foePEPbKrCjiLuueMwlWYKwLBIgDEr1.nyrzU6tkpuBY0Dvx?autoplay=true&startTime=1675270993000 Access the Live Transcript here: https://otter.ai/u/JkLnRM9DCZLHuQ1S3E9LNr4SMWk?utm_source=copy_url
Applying for a Credit Card in the name of your Trust:
Divvy - https://www.getdivvy.com
Chase Ink Business: https://www.referyourchasecard.com/21n/U4F6BCDH7R
Outline:-Why can’t a trust be tax-free?
4:08
-The problem with registering the trust in a state.
8:35
-Setting up a business trust for business gifts.
15:29
-Categories of expenses for the trust.
20:21
-The benefits of a debit card.
26:08
-Distribution to the business trust.
33:18
-Transitioning the money to a business trust.
37:53
-Do we need to change the conveyance documents?
43:42
-Loan money to a beneficiary.
50:19
-Personal trust vs. business trust.
57:14
-How many members and trust involved.
1:02:24
-Transitioning into the new system.
1:09:18
-Selling the notes to the personal trust.
1:17:44
-How to get in touch with me.
1:22:31
-How do you apply for a loan?
1:30:34
-How did you get into real estate investing?
1:38:25
-Podcast outline and time.
1:43:24
See the Video Recording here: https://zoom.us/rec/play/lRyxelkgl-sRyL81cdnXMEUmSUla5CiJpMrHFQVgSCNOkODrSJJFRU_yNkkVQk_qGNB9tArfNeHqtMoq.KnkfAleeRzqtdzHG?autoplay=true&startTime=1674839345000 Access the Live Transcript here: https://otter.ai/u/ncyqUUK_N-wPW4tjcSFzun1OXNM
Blended Rates: https://www.abundancegroup.com/blendedrate
Outline: -Transitioning from grantor trust to revocable trust.
2:07
-The problem with the charitable deduction scenario.
7:50
-Fraudulent conveyance and transfer.
14:51
-Questions and answers from listeners.
22:21
-How to help your beneficiaries with money from your trust?
29:20
-What is a personal property trust?
37:12
-Is it a good practice to increase interest on demand notes?
45:49
-How much should you take out for food?
50:11
-What is the blended rate for business trust taxes?
57:46
-Passive income vs. active income.
1:04:54
-Tax returns for a multi-member llc.
1:11:29
-What is a blood transfusion like?
1:19:08
-Benefits of having a business trust instead of a personal trust.
1:27:34
See the Video Recording here: https://us02web.zoom.us/rec/play/XSl93q-mJW7S9VyhjxBtY-5gvrHFuAjrB1VtVYEOmJoXQhmUIbWZl7iMUVmpH9H4sTKeq9XRA4mFm0CQ.l9GFlFhGdndOzpW0?autoplay=true&startTime=1674666330000
Access the Live Transcript here: https://otter.ai/u/jVo5L0bwkEo2OUh4TYmDHq6Tchc
Looking to Establish credit in the name of your trust? The Chase Ink Business Card is a great option to start: Apply Here
Outline:-Who must file a 1099?
12:02
-Capital Gains and taxes.
22:46
-A personal trust owning 100% of a Wyoming llc.
29:32
-Family Trusts are designed to be investors.
35:28
-The need for a W-9.
43:12
-Where to start buying crypto from.
50:02
-Distribution of the money to heirs.
58:26
See the Video Recording here: https://us02web.zoom.us/rec/play/8_zsQ1QPSiltXzqJx-XaKHAm_DNtDEv_5Ej_MQ-rK3igVmYPMgKQrqA2wtBBDxZoeCZnengTUXefBN0p.Et35friv9gcN2u-M?autoplay=true&startTime=1674234131000 Access the Live Transcript here: https://otter.ai/u/Z-vD5YOb9knZpS1B1Go60-E6AeM
Filing the 1023-EZ Form for your Foundations Determination Letter:
-After you know what the mission statement will be, reach out to Charles Hooper from the Stewardship Institute to assist you in filing this form.
Charles Hooper
Email: stewardshipgroup@yahoo.com
Phone: (916) 543-3205
Outline: -How would our tax treatment be of those purchases? Would a portion be attributed to a charitable contribution to the foundation?
8:22
-What is your opinion on the legality and risk of filing Form 8832?
18:38
-What is a trust protector?
31:45
-Can I backdate the sales to the trust to January 1 of 2022?
39:35
-What is the simplest process to specify what happens to these demand notes? How is it passed on?
46:29
-The reason for having trust divisions in the business trust.
52:39
-What is a P-corp?
1:02:13
-How to get a 1099 from the assessor.
1:10:19
-How to calculate the interest in your 220 account.
1:16:12
-Why you don’t have to do all this return.
1:22:42
-How interest is paid to the 220 account .
1:28:58
-What is the difference between the old and the new tax forms?
1:35:43
-What happens if the trust doesn’t sell to a third party?
1:44:37
-Why did the transfer not go into effect until January 1, 2019?
1:50:47
-Why you need to notarize your foundation today.
1:57:52
-There is no such thing as tax-free.
2:05:12
See the Video Recording here: https://us02web.zoom.us/rec/play/MdYU4RW5D4yAK1AgEgDObVVWIanjnBqKPwnveF4YUAAvr5Rh6VHISswkRfzCxiPpO-_KqnJtrJUbgJpT.-lJ_Gi7V56G7xR_Y?autoplay=true&startTime=1674061697000 Access the Live Transcript here: https://otter.ai/u/mbXX5I-TDNBTdhdb8OUhzPc42W0
Outline: -What is the basis of the trust?
10:42
-What to do if you have to step down as trust protector and trustee.
16:05
-What forms of musical chairs do you use?
19:55
-What happens to the assets once the assets are out of the business?
33:50
-Kraken has no knowledge of where any deposit comes from unless you’re doing it with a bank.
43:00
-Can you transfer your cold storage device just like you would a used computer?
50:14
-What is an amendment? How does it work?
55:53
-Susan’s concern this month is 1099 because of the deadline.
1:02:27
-David’s tax preparer is handling all the 1099 work for non-bookkeeping clients. Do you need a W9?
1:09:59
-Bookkeeper vs. tax preparer.
1:13:32
-How do you know if you’re going to continue to use the same vendor?
1:17:44
You need to think about what your quantifiers can mean financially -.
1:24:59
How do I allocate fuel charges to my kids and my own charges? Do I do it to the personal trust or the business trust?
1:29:56
-What’s the difference between a 1040 return and a personal tax return?
1:40:27
See the Video Recording here: https://us02web.zoom.us/rec/play/qQzTP5YHPErjhbnbae6jAgbahrlHAy38ZENKlXHgzCMjkLHVgfUZ7R4TfIWL_wkBitxaXpbVQHgxBqw.nKHO1TvxH0_d05Qj?autoplay=true&startTime=1673629624000
Access the Live Transcript here: https://otter.ai/u/TnRFBPV7-cZZDMC1L9ls2ouYbkY
Outline:
-Fictitious name filing for business trust.
7:08
-Tax questions for the group.
12:50
-How do you create a tax return division?
19:28
-Cynthia’s recent call about a Wyoming llc.
23:42
-Questions and answers from the listener.
27:45
-The value of the notes and the trust.
37:48
-A non-grantor trust vs a grantor trust.
43:02
-Walking away from an agreement.
48:33
See the Video Recording here: https://drive.google.com/file/d/1xb9XQA1rTQ33hsgC_GUl7wuPM_xtr2V9/view?usp=sharing
Access the Live Transcript here: https://otter.ai/u/i5Pxzqf7Prlg6kdRQC_aE3RQPoo
Decision Tree: https://www.abundancegroup.com/decisiontree
Eviction Attorney in California: https://www.evict123.com
Personal Trust Instructions: https://www.abundancegroup.com/instructions
Not Filing a PCOR in California: https://drive.google.com/drive/u/1/folders/1Fgur8ZTfc42AZE3IgL6Xf2yLGw_Djhnu
See the Video Recording here: https://us02web.zoom.us/rec/play/4GyQbW3RzC_Y9Dxv59Px-v7mBKIF4ptOZrCGooAl7Z6oYKZ5WcKbaFweFYR8hLGc6j-d6bxUWWy8vGlM.F18BxJDCpgXfaE7M?autoplay=true&startTime=1672851866000 Access the Live Transcript here: https://otter.ai/u/_u04gAPzUla6PiEf58IeH1byCHw
Looking to invest in life insurance? Get a free quote!: https://www.abundancegroup.com/insurance
Don't forget to purchase your 2023 Support Package: https://abundancegroup.com/2023support/
Form 8832: https://www.irs.gov/forms-pubs/about-form-8832
Tax Basics of Intellectual Property: http://publications.ruchelaw.com/pdfs/2018/tax-basics-intellectual-property.pdf
Tax Issues for Individuals Who Create Intellectual Property: https://www.thetaxadviser.com/issues/2013/dec/kelley-dec2013.html
Current Podcast Links:
Personal Trust Training: https://abundancegroup.com/trainingpodcast
Personal Trust Q&A: https://abundancegroup.com/weeklypodcast2022
Business Trust Q&A: https://abundancegroup.com/bizpodcast2022
Business Trust Training: https://abundancegroup.com/biztrainingpodcast
Foundation Training: https://abundancegroup.com/foundationpodcast
Foundation Q&A: https://abundancegroup.com/pffpodcast
Outline:-How do you know if your credit report is reporting against your trust?
5:45
-How do you use a lineal descendant as a trustee for musical chairs?
11:05
-What is the difference between a fiduciary and a trust protector?
18:26
-Do you recommend us to have separate meeting minutes for all divisions?
25:59
-Do you accept fair market value as a method to transfer other options? Is it a taxable event?
35:09
-What happens if the conveyances don’t come up after the fact?
41:49
-Make sure you have a personal trust and business trust.
51:37
-How to value the basis of intellectual property for federal tax purposes.
58:47
-Does consulting fall under passive income?
1:04:24
-You have to be able to justify whatever you state your cost basis is if you are ever audited.
1:09:31
-How do you estimate the value of your antique cars?
1:17:35
-The first place to start is in the Conveyances folder.
1:21:22
-Why you don’t want a business to act as an escrow agent in a trust.
1:26:39
See the Video Recording here: https://us02web.zoom.us/rec/play/qg2OsZB_8tWGL2ef3D8fwqcKy5aGeKRXlcXQMkHAEMZ_aHG_tsuaERwdSsmRGrihviDkMX75zgDxaikz.2AACOzfwMKJYJBPX?autoplay=true&startTime=1672247132000 Access the Live Transcript here: https://otter.ai/u/jA7Nr0w1895j51B5XOoz5HWTk8w
Outline: -What do you need to do to make sure all of these payment amounts go to the new personal trust instead of to the other two individuals?
6:10
-Can a fictitious name be registered as a DBA?
12:09
-What documents do I need to show the title company to purchase the property?
19:19
-How do I decide issue a total of 100,000 units of beneficial interest in the division?
24:40
-Why you can choose to have divisions and administration office address the same as the business .
30:45
-When doing a bill of sale for cash, the form asks for $1 amount on page one.
37:10
See the Video Recording here: https://us02web.zoom.us/rec/play/i0rO7dytY5PWkmm964YmVb9OyMXDACKKjv9P3V0ODco4HESsrUeqdgqqsQCZOrg7QQBQCII--5j2XKn9.XOn_hCODg71IA1d4?autoplay=true&startTime=1671642716000 Access the Live Transcript here: https://otter.ai/u/40Yo3TB9s1aRkOZYZgA8nwAWDWU
Canceling an EIN with the IRS: https://www.irs.gov/businesses/small-businesses-self-employed/canceling-an-ein-closing-your-account
Jessica Bader
Ext 6603
Mobile: (414) 301-3174
Work: (414) 961-6600
Website: www.americandeposits.com
Outline: Do we need a special form to convey the license of street-smart system to the personal or business?
-11:05
What is the legal risk of musical chairs?
-22:06
If you are the sole member or sole shareholder in the S corp, what do you do if you want to change its tax status?
-28:50
When you sign the trust agreement, do you need a member and manager?
-38:05
Who do you contact in your organization to get these powerpoints?
-41:52
Who is liable for the current loan balance?
-48:32
What’s the difference between an interest-bearing and non-interest-bearing account?
-54:21
What’s the difference between a Fiduciary account and a trust account?
-58:22
The difference between an interest bearing account and a non-interest bearing account .
-1:06:25
How do I split the money between my personal and personal accounts?
-1:13:57
What if we made her sister a director of the foundation? Is it taxable income?
-1:18:48
Is there any drawback to using a trust to buy a property in your name?
-1:26:12
Do you have to worry about fair market value on your assets?
-1:33:10
Gina shares a story about a call that changed the course of her life.
-1:42:52
See the Video Recording here: https://us02web.zoom.us/rec/play/NXXgA2ng4mpMiiakba4878xYMOkgmIw7qVuoBogNp-IQiRQNz5rcDFXH2Zks-EOBe9-bl4ptjbyhr0ll.0O0yXKD8MTLsCEzk?autoplay=true&startTime=1671210408000 Access the Live Transcript here: https://otter.ai/u/w96tGL5hEStCFm2Ul4b5NLPgQzE
Renew Your Support Package for 2023: https://www.abundancegroup.com/2023support
Looking to Invest in Life Insurance? Get a quote now!: https://www.abundancegroup.com/insurance
Outline: What’s the difference between a self-settled and a non-self-settled trust?
-12:15
An example of a member vs. a member.
-19:29
What is a two-step conveyance and how does it work?
-28:03
What happens if you lose your homestead exemption when you sell your personal residence to a trust.
-35:54
How to get your homestead exemption back if the state audits you.
-42:39
Is there a max percentage limit on how much a charitable trust can donate?
-49:46
If you're going to play musical chairs, do a 265 account and not a 260 account.
-58:07
What is the protection level of a deed?
-1:06:39
Can you list the trust as an additional insurance company?
-1:14:08
When do you record the deed? When is it a simultaneous recording?
-1:22:43
What’s the pathway for the bill of sale?
1:28:01
How to use a title company to get tax benefits.
1:35:41
How do you know if a deed is valid?
-1:42:04
What happens if you change the division of the business to a trust.
-1:48:54
See the Video Recording here: https://us02web.zoom.us/rec/play/JR8HYvHVDp_QoV5j7no7t4tdIsaz-t2aVInLvXAEs3faKMhLlkzPBcEBQKjiJA4b2Je0Cn5QSooRwu4l.7_Vt9fDXhjnW6GFD?autoplay=true&startTime=1671037869000 Access the Live Transcript here:https://otter.ai/u/Q4oomchsl39CnYjSHq5bC0sEcfc
Outline: If a client has income from an LLC in august, what do you need to do?
-6:54
What’s the name of the division?
-16:18
Can the trust also pay for upgrades to their home?
-23:04
How can we sell those properties?
-31:13
How do I get the link to what I thought you gave us?
-39:37
How do you know what the original cost of the land was?
-42:46
Is farming income currently reported on a Schedule E? Is it considered active active active?
-51:09
If Kevin owns part of the business, is it better to do it in a division or a division of a business?
-56:48
If a parent trust was giving money to a sub trust and then that sub trusts were passing money from it to the parent trust...
-1:04:05
See the Video Recording here: https://zoom.us/rec/play/SLKPe2P7h-g3CPuyRevGIEHDPsOkdMO1DTrKIuChBrvnJn4KbsWvj720Z8DjcWn2VFnq6HtdyJZlVf5y.eEBOwHgjSjM4LQgy?autoplay=true&startTime=1670605845000 Access the Live Transcript here: https://otter.ai/u/PsKjzyiRZYEFEbPExqjNOvLl6IQ
Don't forget to renew your Support Package for 2023! If you haven't done so already, you may do so here: https://www.abundancegroup.com/2023support
Looking to Invest in Life Insurance for yourself or a family member? Get a free quote!:https://www.abundancegroup.com/insurance
Instructions for Creating Divisions: https://docs.google.com/document/d/1K5sDSC-mMe5XcB7BIFMPFA3urdCeQb_5fYbsszuus1k/edit
Divisional Letter of Introduction and Instruction: https://docs.google.com/document/d/1z0RnlevUzqUb7ghApyO-9JC4RuG2CxNb/edit
Section 7872 and Blended Annual Rates: http://evans-legal.com/dan/blended.html
Gift Tax Return Form 706: https://www.irs.gov/pub/irs-pdf/f706.pdf
Outline: When you convey an asset and liability from your personal trust to a business trust division, does the value of your beneficial interest units receive equal to...
-0:03
What is the best way to get my intellectual property in a division of the business, do I sell it directly to a division with a demand note?
-9:52
Are assets in an irrevocable trust subject to estate tax?
-18:34
Operational rules are similar to an operating agreement, but different.
-35:27
Is there a lawyer that can review the operating agreement?
-43:17
The name of the trust needs to be spelled out on any legal document.
-57:13
What happens if something happens to me tomorrow? We don’t have them yet.
-1:03:56
What is the difference between fair market value and the value of the assets?
-1:11:50
See the Live Recording here: https://us02web.zoom.us/rec/play/R57tpnE9ZOl0YHDhESxovGLL-RUZCihn0qDVUkCRl5ud2uF-s3Fx-2h8PrzeWnF8MkSv_M4qsdbdYDlT.8Zk9OmL1gIo40WXm?autoplay=true&startTime=1670432549000 Access the Transcript here: https://otter.ai/u/ZrmLpxrkEFYSFu8UFDnq6Lhfals
Home Owner's Insurance:
Nancy Solache
Call: (407) 988-0022
Text: (407) 337-8903
Outline: How do we ensure that Wyoming classifies the LLC as a manager-managed LLC?
-2:11
Do you have to have an address in Wyoming for this form to work?
-6:54
Getting ready for tax season for 2022.
-8:28
Dan Hollis and the IRS.
-9:36
Are there capital gains in the trust? Is it capital gain earned in the current year or past year?
-14:56
What’s your annual premium for homeowners insurance?
-22:51
The gift is an act of the giver, not the receiver. The receiver does not have to claim it.
-31:23
How do you know if you have a trigger that triggers the crummy power?
-38:33
Are we trying to model the rules that happen outside of a trust from person to person inside the trust?
-46:11
Advice for getting around the roadblock at Schwab.
-51:52
Whether or not the acceptance gets notarized at the time the other pages of the trust get notarized.
-57:38
What’s going on with the reassessment of the property?
-1:05:32
California Franchise Tax Board vs. state tax.
-1:13:55
What’s the demand note?
-1:20:42
Use the trust the way it’s intended - live your life.
-1:26:54
How to use an LLC for payroll.
-1:34:19
What is the lifetime gift exemption?
-1:43:03
See the Video Recording here: https://us02web.zoom.us/rec/play/gQUYrq2CsF0S5JiXTV3pTEYAB2-YO2It0I0TZg3ZBDG3pWDNJiszIWleMC0E3nUDMV5u8AicYvg1JAvN.-xMsnUGE7QztVuKM?autoplay=true&startTime=1670000481000
Access the Live Transcript here: https://otter.ai/u/XxoUgeLelB5HeAFfEqp0MZqHq0s?utm_source=va_chat_link_1
AGT Vendors: https://www.abundancegroup.com/vendors
Opinion Letter Resources:
*Anita Steburg -Website: https://www.steburglawfirm.com/
-anita@steburglawfirm.com
-(408) 209-2073
*Agnes Mombrun Geter -https://www.mombrunlaw.com/attorney-profile
-agnes@mombrunlaw.com
-(321) 216-2040
Blended AFR Table: https://resources.evans-legal.com/?p=516
Case Study: https://www.abundancegroup.com/moneyflow
2022 Charitable Tax Deductions Guide: https://www.daffy.org/resources/charitable-tax-deductions-guide-2022
Outline:
Why file itemized deductions?
-7:01
How to get an opinion letter from a tax attorney to review your specific structure.
-12:56
-Does it work the same way with trusts?
19:45
When under 100% owned by a personal trust, only two things are key in the operating agreement.
-25:27
What’s going on with the 90% limited partner in an LLC?
-30:55
What’s the difference between a sub-trust and a primary trust?
-38:36
What kind of trust is a living trust?
-42:08
What happens if you pull the money out of the trust?
-49:57
How do you handle the bookkeeping of the personal account expenses on the properties on the trust?
-57:09
What is a demand note?
-1:04:03
See the Video Recording here: https://us02web.zoom.us/rec/play/Ca2o45iIVkm6KPSINUj2p2GDbUS5vXCsDCjoy1z25yXgPUcFVX23QNJ-hNd8PYuueBxLe-wyN_pCZ5ox.YJ6_7RjSsUG1eEwq?autoplay=true&startTime=1669827822000 Access the Live Transcript here: https://otter.ai/u/Yerg2rAfEoiyZCbcfWaBlOFppMg
Outline: How to get access to the trust watch program for the entirety of 2019?
-5:08
Could you play musical chairs with the property?
-13:01
Is it true that to assign notes to the trust all I have to do is fill out the provided form and have it witnessed do I need to?
-19:52
What is the tax rate for a non-grantor trust?
-24:13
How to form a non-profit foundation.
-30:38
Selling assets as an in-kind distribution.
-36:53
How long does it take to convert a trust into an LLC?
-41:33
What is a joint venture? What is a real estate transaction?
-49:49
What are the options to terminate a trust?
-55:49
How do you know if you have enough money to buy an asset for your trust?
-1:04:52
The difference between a limited partner and an owner.
-1:09:20
What is the difference between the business trust body and divisions?
-1:14:56
Why not join an LLC?
-1:20:57
The Q&A calls and the training podcast.
-1:29:06
See the Video Recording here: https://zoom.us/rec/play/YMGQQ_VFc0w0OIk47F9OmYuihid9ikiNVdKt-htzzLgfoeLNKTvrXOtqpZWRRlyZ1WSbMtZ0RFdLhcTs.alFVB8vCz4pDv-_0?autoplay=true&startTime=1668791201000 Access the Transcript here: https://otter.ai/u/_Sk_lle5XRHQrJL2fKpYHPb2kRk
Conveyances: http://www.abundancegroup.com/conveyances
Notary Essentials: The Difference Between Acknowledgments and Jurats: https://www.nationalnotary.org/notary-bulletin/blog/2015/04/key-differences-acknowledgment-jurat-certificates
Gold Fund Investment with Crosspoint One Capital: https://crosspointone.com
Outline:Words of wisdom from John and Pat.
-6:05
What is the final word on what type of family member can step in as a trustee for musical chairs purposes?
-16:28
Transaction to evade taxes is legal evasion.
-27:23
What’s your primary residence?
-35:44
What was the most productive part of the symposium?
-47:20
The importance of having a referral partner.
-56:12
How to use a debit card to get money out of your account
-1:14:32
How do you get into the conference room?
-1:29:18
See the Video Recording here: https://us02web.zoom.us/rec/play/AO9x0olJjvgWzLoExWhrfgGPGf1PHDec4rPLnOdpHWdq_67bXrxPNmKIKfdc9gkRyoEFCgERMXz0B_UC.pRG2oazx3wl3m_1n?autoplay=true&startTime=1668618339000 Access the Transcript here: https://otter.ai/u/QevyrfI7iPXbVccQ1LNdDz8uuw8
Administrative Address Change: https://docs.google.com/document/d/1LTNYHF2a9D9rzXYH2QHjRB7riRdfb4cbKYFxy1zEXjI/edit
Can Bitcoin Be a Prudent Investment for Trusts?: https://www.kiplinger.com/investing/603257/can-bitcoin-be-a-prudent-investment-for-trusts
All Podcasts are Now Up and Running! Links Below:
Foundation Training: http://www.abundancegroup.com/foundationpodcast
Business Trust Training: http://www.abundancegroup.com/biztrainingpodcast
Personal Trust Training: http://www.abundancegroup.com/trainingpodcast
Trust Advisor Training: http://www.abundancegroup.com/advisorpodcast
Business Trust Q&A: http://www.abundancegroup.com/bizpodcast2022
Personal Trust Q&A: http://www.abundancegroup.com/weeklypodcast2022
Outline:
Diana’s Major Celebration.
0:00
How to get credit in the name of your trust.
4:03
Do you have any other newcomers on today’s call?
11:42
Do you have a bill of sale for the properties in your personal trust?
17:50
How to get to the new podcast platform.
22:10
Is it best to have my four-unit rental property conveyed into a separate division of my business trust for asset protection purposes?
29:06
Legal risk is high, so take pause.
35:53
Selling your online information business to mitigate capital gains.
39:24
A client received a large chunk of money from a business endeavor but does not have an operating agreement for the LLC. Should he use the operating
54:14
What’s the difference between a member and a limited partner?
1:03:12
How to use the trust more effectively to protect from taxes.
1:07:41
How do you transfer income from a business to a trust?
1:14:35
What can I have my personal trust paid if I’m blind?
1:21:41
Fiduciary responsibility in a complex trust.
1:28:57
Investing trust assets in cryptocurrency is not strictly prohibited by state law.
1:33:14
See the Video Recording here: https://zoom.us/rec/play/ek9lUcXkFiFl5mnnwjdW6AJSjT3SR4r0vEEFigDEBA7jAFnzmMyOfPi9oh57Dk2GRhr6IBmeaBk2eLwE.sNTaNt1lpkC-rCpX?autoplay=true&startTime=1668013475000 Access the Transcript here: https://otter.ai/u/MLyruVnsnq59KQE62p5Fo8ZK1As Wyoming LLC Instructions: https://sos.wyo.gov/Forms/Business/FLLC/FLLC-ArticlesContinuance.pdf
Nationwide Registered Agent, Corporate Compliance, and Entity Formation Services: https://www.incorp.com/
-Contact Davy DeLuge or Nicole
-(800) 246-2677
-Use coupon code Mack4349 at checkout. This way they only charge you the state filing fee and the registered agent fee. Remember to only do one (1) year for the Registered Agent.When to Play Musical Chairs: http://www.abundancegroup.com/decisiontree
***Outline:
-Do I need a new bank account when I create a Wyoming continuation LLC? Or can I use my existing account for my current California LLC?
5:35
-How to avoid more drawers on your equity line of credit on your home.
13:33
-How do you transfer into a business trust? -.
20:19
-Why are you keeping your living trusts?
27:32
-How much work does a trust need to do?
33:48
-What is the amount of gain required to be recognized by the state?
46:02
-Can you transfer assets from one trust to another?
59:13
-Can a living trust transfer properties back to the individual?
1:06:22
-Selling assets to a business trust vs. a personal trust.
1:13:06***
See the Video Recording here: https://us02web.zoom.us/rec/play/aikepuoIVjJirtueE3RhgZEP8aw8wycRojpteuBioJtIKwO6Uw5hEfosnTyJggmTylVTFyY1x2SSMRZZ.PBn8rpzqLVV4Sazy?autoplay=true&startTime=1667577702000
Access the Transcript here: https://otter.ai/u/GZdFAl-ilvbPNJaqFEnZ1akMTos
Wyoming LLC Instructions: https://sos.wyo.gov/Forms/Business/FLLC/FLLC-ArticlesContinuance.pdf
Outline: How long does it take to create an LLC in Wyoming?
8:15
What kind of event would justify the reversal of initial musical chairs?
22:49
How to use a business trust for estate planning purposes.
28:52
How did the Millionaire Jumpstart event go?
36:08
How to file a change in trustee form in the appropriate state.
43:48
What if we hired an incompetent CPA that failed to prepare our taxes on time?
51:40
What is a P 10 and how does it work?
59:18
What state is the LLC formed in? What is the state of the LLC?
1:05:06
Does it make sense to start a trust with a different trust protector and trustee?
1:10:15
See the Video Recording here: https://us02web.zoom.us/rec/play/QeHZ3YJfR_jeFVef5S_3TZ0sR_QjJ3C8r9Fi66HQb-_ztJgZNGmNQ_eeWqV1DprfxHdt5y7aAZJS2Fn-.vdm-e-bBUrcNNcGO?autoplay=true&startTime=1667405083000 Access the Transcript here: https://otter.ai/u/H6uP140Mq48Ml7BqiHNhLZyhb_M
Looking to Invest in Life Insurance? Get a Quote! http://www.abundancegroup.com/insurance
All Podcasts are Now Up and Running! Links Below:
Foundation Training: http://www.abundancegroup.com/foundationpodcast Business Trust Training: http://www.abundancegroup.com/biztrainingpodcast Personal Trust Training: http://www.abundancegroup.com/trainingpodcast Trust Advisor Training: http://www.abundancegroup.com/advisorpodcast Business Trust Q&A: http://www.abundancegroup.com/bizpodcast2022 Personal Trust Q&A: http://www.abundancegroup.com/weeklypodcast2022
New Techfin LLC Contact:
Shannon - shannon@techfinllc.com
Conveyances: http://www.abundancegroup.com/conveyances
Weiss's Concise Handbook: http://www.abundancegroup.com/concisehandbook
Florida Access to Financial Records: http://flrules.elaws.us/fac/12d-1.005
Outline:
-What is the procedure for obtaining a demand note in either case?
6:23
-What’s the nature of the liability?
13:14
-Is there any benefit to the trust for holding the asset?
18:14
-Who owns the debt that needs to get paid? Is it a trust transaction?
27:41
-What is the best way to find guidance for non-client trustees?
36:40
-What is a 265 account and what is it’s purpose?
43:03
-What is a subpoena and how does it work?
52:25
-Are you going to respond to this letter?
1:00:44
-What’s the difference between a brokerage account and a trust account?
1:07:06
-Where can I find the podcast?
1:12:56
-Is the business 100% owned by the trust as the sole member?
1:18:20
-Who should be the sole member of a LLC in Wyoming?
1:20:44
-How to calculate the cost basis for a limited partnership.
1:30:36
-Who is the sole member of the trust?
1:35:40
-How much of the money should be transferred to the business trust and how much to the personal trust?
1:44:27
See the Live Recording here: https://us02web.zoom.us/rec/play/jysc0R8nv2A9_3anHIR4k2piNZvvKfEhT8c42UnP4uomg6EQAPcQLLQNcTbFebGkBbaBKSzAN-xipfNG.ytNeU8uUTpQRf7_d?autoplay=true&startTime=1666800896000 Access the Transcript here: https://otter.ai/u/ZA5xCL0uQWKklGxyeng9umuSnZo
- Dan's celebration. (0:00)
- Why you need an IP/Personal trust, not a regular personal trust. (1:43)
- How do you get in contact with your trust advisor?